Company Valuation: Klaveness Combination Carriers ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 285.1 346.3 518.4 394.9 467.9 635.9 - -
Change - 21.46% 49.67% -23.82% 18.48% 35.91% - -
Enterprise Value (EV) 1 586 600.9 697.2 563.1 687.3 955.4 907.5 884.9
Change - 2.55% 16.03% -19.23% 22.04% 39.01% -5.02% -2.48%
P/E 11.7x 5.71x 5.64x 4.85x 14.1x 7.07x 10.3x 9.91x
PBR 1.04x 1.16x 1.43x 1.1x 1.28x 1.61x 1.61x 1.61x
PEG - 0x 0.2x -0.4x -0.2x 0x -0.3x 2.66x
Capitalization / Revenue 2.46x 2.1x 2.63x 2.06x 3.24x 2.5x 2.72x 2.61x
EV / Revenue 5.06x 3.65x 3.54x 2.93x 4.76x 3.76x 3.87x 3.63x
EV / EBITDA 8.73x 5.62x 5.17x 4.45x 8.62x 6.24x 7.09x 6.99x
EV / EBIT 15.3x 7.95x 6.76x 5.86x 15.3x 8.78x 11.2x 11.1x
EV / FCF -8x 6.28x 5.12x 5.22x -403x 63.7x 9.45x 9.62x
FCF Yield -12.5% 15.9% 19.5% 19.1% -0.25% 1.57% 10.6% 10.4%
Dividend per Share 2 0.22 0.81 1.25 1.05 0.285 1.34 1.127 1.073
Rate of return 4.04% 12.2% 14.6% 16% 3.61% 12.5% 10.5% 10%
EPS 2 0.464 1.16 1.52 1.35 0.56 1.516 1.043 1.082
Distribution rate 47.4% 69.8% 82.2% 77.8% 50.9% 88.4% 108% 99.2%
Net sales 1 115.9 164.6 196.8 191.9 144.4 254 234.2 243.5
EBITDA 1 67.1 107 134.9 126.5 79.77 153.2 128 126.7
EBIT 1 38.4 75.61 103.1 96.07 45.02 108.9 81.21 80.01
Net income 1 22.6 60.87 86.9 81.41 33.41 90.73 61.99 64.23
Net Debt 1 300.8 254.6 178.9 168.2 219.4 319.5 271.6 249
Reference price 2 5.45 6.62 8.58 6.55 7.89 10.72 10.72 10.72
Nbr of stocks (in thousands) 52,332 52,332 60,418 60,284 59,290 59,318 - -
Announcement Date 2/18/22 A 2/16/23 A 2/16/24 A 2/14/25 A 2/13/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.07x3.76x6.24x12.5% 636M
7.89x1.08x3.22x7.23% 14.82B
10.79x1.74x5.86x7.67% 7.29B
41.47x18.16x24.75x1.91% 5.36B
15.54x - - - 4.8B
9.75x2.94x7.97x9.98% 3.82B
8.24x0.86x2.74x4.13% 3.39B
6.74x3.25x5.22x13.07% 3.24B
Average 13.44x 4.54x 8.00x 8.07% 5.42B
Weighted average by Cap. 13.47x 3.97x 7.36x 7.15%

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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