Company Valuation: Axfood AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 54,451 61,699 58,907 50,484 62,660 55,676 - -
Change - 13.31% -4.52% -14.3% 24.12% -11.15% - -
Enterprise Value (EV) 1 62,091 70,681 68,246 65,345 77,258 70,377 69,724 69,364
Change - 13.83% -3.44% -4.25% 18.23% -8.91% -0.93% -0.52%
P/E 25.4x 26x 25.1x 23.1x 26.9x 22.3x 20x 18.9x
PBR 11x 9.34x 8.61x 7.19x 8.35x 7.22x 6.51x 5.88x
PEG - 3.55x -22.99x -3.3x 4x 3.13x 1.7x 3.4x
Capitalization / Revenue 0.94x 0.84x 0.73x 0.6x 0.7x 0.61x 0.59x 0.57x
EV / Revenue 1.07x 0.96x 0.84x 0.78x 0.87x 0.77x 0.74x 0.71x
EV / EBITDA 12.2x 12.4x 10.8x 9.8x 10.1x 8.86x 8.26x 7.96x
EV / EBIT 23.1x 21.9x 18.9x 19x 20.9x 18.5x 16.8x 16x
EV / FCF 22.5x 21.2x 17.7x 16.7x 15.4x 18x 14.2x 14.4x
FCF Yield 4.45% 4.72% 5.66% 6% 6.5% 5.54% 7.06% 6.92%
Dividend per Share 2 7.75 8.15 8.5 8.75 9 9.479 9.993 10.39
Rate of return 2.98% 2.85% 3.11% 3.74% 3.1% 3.68% 3.87% 4.03%
EPS 2 10.24 10.99 10.87 10.11 10.79 11.56 12.92 13.63
Distribution rate 75.7% 74.2% 78.2% 86.5% 83.4% 82% 77.4% 76.2%
Net sales 1 57,891 73,474 81,111 84,057 89,152 91,170 94,776 98,105
EBITDA 1 5,103 5,716 6,345 6,665 7,649 7,940 8,437 8,718
EBIT 1 2,690 3,229 3,602 3,433 3,688 3,811 4,142 4,338
Net income 1 2,150 2,360 2,357 2,192 2,339 2,533 2,831 2,986
Net Debt 1 7,640 8,982 9,339 14,861 14,598 14,701 14,048 13,687
Reference price 2 260.40 285.90 273.00 234.00 290.20 257.90 257.90 257.90
Nbr of stocks (in thousands) 209,105 215,805 215,778 215,745 215,922 215,884 - -
Announcement Date 2/3/22 A 2/1/23 A 2/1/24 A 1/30/25 A 1/29/26 A - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.17x0.77x8.82x3.7% 5.61B
20.43x0.88x5.91x6.16% 37.28B
16.59x0.59x6.72x2.93% 27.24B
69.44x3.07x40.18x-.--% 25.77B
26.22x0.83x8.74x3.67% 21.84B
27.42x1.13x14.43x0.45% 21.62B
11.6x0.24x4.42x6.4% 13.28B
16.98x0.4x5.77x3.61% 13.16B
21.21x0.81x8.9x2.69% 10.67B
19.51x0.94x9.32x4.16% 10.23B
Average 25.16x 0.96x 11.32x 3.38% 18.67B
Weighted average by Cap. 27.30x 1.08x 12.41x 3.34%

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