Company Valuation: Afry AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,869 19,355 15,821 17,407 16,988 11,506 - -
Change - -32.96% -18.26% 10.02% -2.41% -32.27% - -
Enterprise Value (EV) 1 32,434 19,355 22,663 23,542 22,309 16,871 16,307 15,734
Change - -40.33% 17.09% 3.88% -5.24% -24.37% -3.35% -3.51%
P/E 25.6x 19.9x 14.4x 14.2x 21.2x 11x 8.57x 7.98x
PBR 2.63x - 1.27x 1.33x 1.34x 0.86x 0.82x 0.78x
PEG - -1.4x 1.1x 1.2x -0.6x 0.4x 0.3x 1.08x
Capitalization / Revenue 1.44x 0.82x 0.59x 0.64x 0.66x 0.46x 0.44x 0.42x
EV / Revenue 1.61x 0.82x 0.84x 0.87x 0.87x 0.67x 0.62x 0.58x
EV / EBITDA 13.7x 7.96x 8.34x 8.28x 10.1x 6.78x 5.76x 5.36x
EV / EBIT 21.3x 13.4x 12.7x 12.1x 16.1x 10.2x 8.17x 7.43x
EV / FCF 22.4x - 13.8x 12.5x 10.5x 11.9x 10.5x 9.12x
FCF Yield 4.46% - 7.27% 8.02% 9.56% 8.41% 9.51% 11%
Dividend per Share 2 5.5 - 5.5 6 6 6.332 7.403 8.206
Rate of return 2.16% - 3.94% 3.9% 4% 6.23% 7.29% 8.08%
EPS 2 9.973 8.603 9.71 10.85 7.07 9.206 11.86 12.74
Distribution rate 55.1% - 56.6% 55.3% 84.9% 68.8% 62.4% 64.4%
Net sales 1 20,104 23,552 26,978 27,160 25,758 25,248 26,352 27,205
EBITDA 1 2,359 2,430 2,718 2,842 2,219 2,487 2,833 2,933
EBIT 1 1,523 1,444 1,779 1,941 1,387 1,648 1,997 2,117
Net income 1 1,129 974 1,100 1,229 800 1,042 1,343 1,442
Net Debt 1 3,565 - 6,842 6,135 5,321 5,365 4,800 4,227
Reference price 2 255.00 170.90 139.70 153.70 150.00 101.60 101.60 101.60
Nbr of stocks (in thousands) 113,212 113,252 113,252 113,252 113,252 113,252 - -
Announcement Date 2/4/22 A 2/10/23 A 2/2/24 A 2/7/25 A 2/5/26 A - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.14x6.59x23.4x0.95% 79.41B
37.01x1.24x13.3x1.01% 16.45B
20.49x2.09x10.3x3.59% 14.39B
25.44x2.84x12.16x2.93% 12.15B
24.01x3.37x12.99x2.39% 7.76B
15.02x0.64x9.04x1.43% 6.74B
9.7x1.15x6.11x2.16% 5.78B
20.37x2.2x10.36x-.--% 5.25B
18.61x0.4x9.28x4% 5.26B
Average 22.98x 2.28x 11.88x 2.05% 17.02B
Weighted average by Cap. 30.23x 4.30x 17.45x 1.57%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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