Company Valuation: Assa Abloy AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 306,796 248,481 322,458 363,002 398,658 382,218 - -
Change - -19.01% 29.77% 12.57% 9.82% -4.12% - -
Enterprise Value (EV) 1 333,867 280,213 386,567 433,255 462,935 438,154 430,539 421,456
Change - -16.07% 37.95% 12.08% 6.85% -5.35% -1.74% -2.11%
P/E 28.2x 18.7x 23.7x 23.2x 27.1x 21.8x 19.5x 17.8x
PBR 4.41x 2.89x 3.52x 3.39x 3.92x 3.32x 3.01x 2.72x
PEG - 0.8x 9.46x 1.6x -4.49x 1.2x 1.6x 1.93x
Capitalization / Revenue 3.23x 2.06x 2.29x 2.42x 2.62x 2.42x 2.26x 2.13x
EV / Revenue 3.51x 2.32x 2.75x 2.89x 3.04x 2.78x 2.54x 2.35x
EV / EBITDA 18.5x 12.4x 14.1x 14.5x 15.1x 13.6x 12.3x 11.3x
EV / EBIT 23.5x 15.1x 17.4x 17.8x 18.8x 16.6x 14.9x 13.6x
EV / FCF 30.8x 22.7x 20.5x 22.4x 24.6x 22.9x 20.9x 18.5x
FCF Yield 3.24% 4.41% 4.88% 4.46% 4.06% 4.37% 4.77% 5.41%
Dividend per Share 2 4.2 4.8 5.4 5.9 6.4 6.867 7.611 8.328
Rate of return 1.52% 2.15% 1.86% 1.81% 1.78% 2.01% 2.23% 2.44%
EPS 2 9.81 11.97 12.27 14.08 13.23 15.66 17.56 19.18
Distribution rate 42.8% 40.1% 44% 41.9% 48.4% 43.8% 43.3% 43.4%
Net sales 1 95,007 120,793 140,716 150,162 152,409 157,859 169,409 179,215
EBITDA 1 18,023 22,620 27,358 29,940 30,745 32,236 35,089 37,135
EBIT 1 14,181 18,532 22,185 24,296 24,664 26,388 28,907 31,045
Net income 1 10,901 13,291 13,633 15,639 14,701 17,427 19,532 21,369
Net Debt 1 27,071 31,732 64,109 70,253 64,277 55,935 48,321 39,238
Reference price 2 276.20 223.70 290.30 326.80 358.90 341.60 341.60 341.60
Nbr of stocks (in thousands) 1,110,776 1,110,776 1,110,776 1,110,776 1,110,776 1,110,776 - -
Announcement Date 2/4/22 A 2/3/23 A 2/7/24 A 2/5/25 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.($)
11.74x0.92x5.99x3.39% 39.28B
21.81x2.76x13.51x2.01% 38.85B
15.45x2.12x10.61x1.84% 13.63B
17.47x2.92x12x1.41% 12.99B
-22.02x1.44x16.22x3.01% 12.56B
27.33x4.15x15.1x0.97% 7.64B
14.73x0.74x4.92x3.77% 7.65B
18.71x2.8x11.43x0.69% 7.03B
19.76x3.98x11.6x0.87% 6.77B
Average 13.89x 2.43x 11.26x 2% 16.27B
Weighted average by Cap. 14.04x 2.13x 10.77x 2.32%

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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