Company Valuation: ERICSSON

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 332,382 204,141 210,346 299,520 301,970 328,151 - -
Change - -38.58% 3.04% 42.39% 0.82% 8.67% - -
Enterprise Value (EV) 1 297,231 189,986 212,445 281,130 278,032 278,984 269,857 262,856
Change - -36.08% 11.82% 32.33% -1.1% 0.34% -3.27% -2.59%
P/E 14.7x 10.8x -7.95x 8,988x 10.6x 18.6x 15.6x 14.5x
PBR 3.06x 1.51x 2.16x 3.18x 2.76x 2.98x 2.79x 2.6x
PEG - -0.6x 0x -90x 0x -0.5x 0.8x 1.99x
Capitalization / Revenue 1.43x 0.75x 0.8x 1.21x 1.28x 1.45x 1.42x 1.39x
EV / Revenue 1.28x 0.7x 0.81x 1.13x 1.17x 1.23x 1.17x 1.12x
EV / EBITDA 7.2x 5x 7.06x 5.58x 5.54x 7.42x 7.09x 6.61x
EV / EBIT 9.2x 6.93x 11.7x 11.4x 6.79x 9.43x 9.01x 8.35x
EV / FCF 8.37x 7.13x 54.8x 6.4x 10.4x 12.2x 10.3x 9.91x
FCF Yield 11.9% 14% 1.83% 15.6% 9.63% 8.19% 9.67% 10.1%
Dividend per Share 2 2.5 2.5 2.7 2.85 3 3.063 3.176 3.32
Rate of return 2.51% 4.11% 4.28% 3.17% 3.31% 3.06% 3.18% 3.32%
EPS 2 6.81 5.62 -7.94 0.01 8.51 5.379 6.413 6.882
Distribution rate 36.7% 44.5% -34% 28,500% 35.3% 56.9% 49.5% 48.2%
Net sales 1 232,314 271,546 263,351 247,880 236,681 226,153 230,405 235,282
EBITDA 1 41,298 37,962 30,084 50,358 50,212 37,622 38,042 39,778
EBIT 1 32,300 27,419 18,093 24,658 40,971 29,592 29,966 31,473
Net income 1 23,000 18,724 -26,446 20 28,428 17,767 20,548 21,447
Net Debt 1 -35,151 -14,155 2,099 -18,390 -23,938 -49,167 -58,294 -65,294
Reference price 2 99.79 60.90 63.11 89.88 90.60 99.98 99.98 99.98
Nbr of stocks (in thousands) 3,329,738 3,330,142 3,330,142 3,332,672 3,333,287 3,283,682 - -
Announcement Date 1/25/22 A 1/20/23 A 1/23/24 A 1/24/25 A 1/23/26 A - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.9x5.98x15.49x1.56% 432B
52.58x18.64x37.4x-.--% 251B
20.72x0.84x15.16x2.19% 186B
29.97x9.54x23.04x0.41% 163B
43.91x12.94x29.08x-.--% 83.5B
33.19x6.42x18.93x1.01% 75.91B
44.76x2.37x15.39x1.61% 60.11B
27.37x6.17x20.6x1.51% 52.85B
60.14x7.78x34.42x-.--% 49.46B
Average 37.73x 7.85x 23.28x 0.92% 150.36B
Weighted average by Cap. 34.62x 8.42x 22.34x 1.03%

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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