Company Valuation: NCC AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 18,035 9,636 12,271 15,879 21,526 17,349 - -
Change - -46.57% 27.34% 29.4% 35.56% -19.4% - -
Enterprise Value (EV) 1 20,967 12,636 16,581 17,043 22,691 17,841 16,926 15,157
Change - -39.73% 31.22% 2.79% 33.14% -21.37% -5.13% -10.45%
P/E 12x 9.45x 7.8x 10.1x 152x 12.4x 10.6x 9.38x
PBR 3.09x 1.32x 1.68x 1.83x 2.72x 1.99x 1.86x 1.83x
PEG - -0.4x 0.1x -54.24x -1.7x 0x 0.6x 0.7x
Capitalization / Revenue 0.34x 0.18x 0.22x 0.26x 0.39x 0.31x 0.29x 0.28x
EV / Revenue 0.39x 0.23x 0.29x 0.28x 0.41x 0.31x 0.28x 0.24x
EV / EBITDA 6.69x 4.88x 5.49x 5.16x 7.08x 5.87x 5.24x 4.17x
EV / EBIT 11.5x 9.3x 9.2x 8.39x 11.7x 9.39x 8.01x 6.42x
EV / FCF 11.1x -92.9x 45.9x 4.27x 19.7x 8.48x 11.5x 11.2x
FCF Yield 9.05% -1.08% 2.18% 23.4% 5.07% 11.8% 8.73% 8.92%
Dividend per Share 2 6 6 8 9 - 10.62 11.38 12.17
Rate of return 3.58% 6.17% 6.37% 5.54% - 5.99% 6.41% 6.86%
EPS 2 14.02 10.29 16.11 16.08 1.45 14.32 16.7 18.91
Distribution rate 42.8% 58.3% 49.7% 56% - 74.2% 68.1% 64.3%
Net sales 1 53,414 54,198 56,932 61,609 55,717 56,750 59,802 62,007
EBITDA 1 3,132 2,589 3,021 3,303 3,205 3,041 3,232 3,638
EBIT 1 1,825 1,358 1,802 2,032 1,938 1,900 2,113 2,361
Net income 1 1,508 1,069 1,573 1,571 142 1,436 1,633 1,853
Net Debt 1 2,932 3,000 4,310 1,164 1,165 492 -423.4 -2,192
Reference price 2 167.70 97.25 125.60 162.40 220.20 177.40 177.40 177.40
Nbr of stocks (in thousands) 107,595 97,592 97,662 97,792 97,792 97,792 - -
Announcement Date 2/2/22 A 1/31/23 A 1/30/24 A 2/10/25 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.($)
58.37x2.69x25.68x0.06% 102B
11.76x1.02x5.57x4.97% 66.61B
35.58x4.48x24.33x0.19% 60.72B
24.84x1.93x18.95x1.19% 52.74B
49.38x3.96x25.08x1.96% 38.53B
24.02x1.64x15.14x0.19% 34.7B
27.92x0.7x11.55x2.21% 34.5B
22.53x0.44x7.03x2.74% 29.63B
5.01x0.31x5.98x5.63% 26.75B
Average 28.82x 1.91x 15.48x 2.13% 49.54B
Weighted average by Cap. 32.95x 2.18x 17.31x 1.8%

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