Company Valuation: Nordnet AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 43,400 37,681 42,948 59,141 67,357 87,164 - -
Change - -13.18% 13.98% 37.7% 13.89% 29.41% - -
Enterprise Value (EV) 39,150 33,954 38,755 55,356 62,682 87,164 87,164 87,164
Change - -13.27% 14.14% 42.83% 13.24% 39.06% 0% 0%
P/E Ratio 22.4x 23.8x 17.4x 21.6x 22.9x 25.9x 23x 20.4x
PBR 7.25x 6.24x 5.55x 7.44x 8.02x 10.1x 9.09x 7.99x
PEG - -1.3x 0.3x 2.1x 2.56x 1.6x 1.8x 1.6x
Capitalization / Revenue 12x 11.1x 9.44x 11.5x 12.5x 14.3x 12.9x 11.6x
EV / Revenue 0x 0x 0x 0x 0x 14.3x 12.9x 11.6x
EV / EBITDA 0x 0x 0x 0x 0x 19x 16.6x 14.6x
EV / EBIT 0x 0x 0x 0x 0x 20.4x 18.2x 16.2x
EV / FCF - - - 0x 0x 25.2x 23x 20.4x
FCF Yield - - - 9.9% 18.2% 3.96% 4.35% 4.9%
Dividend per Share 2 5.56 4.6 7.2 8.1 8.6 9.551 10.89 12.24
Rate of return 3.2% 3.05% 4.21% 3.45% 3.18% 2.69% 3.07% 3.45%
EPS 2 7.75 6.33 9.83 10.85 11.82 13.73 15.45 17.4
Distribution rate 71.7% 72.7% 73.2% 74.7% 72.8% 69.6% 70.5% 70.4%
Net sales 1 3,628 3,382 4,550 5,152 5,384 6,085 6,758 7,483
EBITDA 1 2,650 2,263 3,430 3,790 3,962 4,583 5,256 5,956
EBIT 1 2,488 2,091 3,251 3,506 3,736 4,263 4,790 5,376
Net income 1 1,985 1,652 2,579 2,814 3,015 3,427 3,837 4,296
Net Debt -4,250 -3,726 -4,193 -3,785 -4,675 - - -
Reference price 2 173.60 150.95 171.00 234.80 270.20 355.00 355.00 355.00
Nbr of stocks (in thousands) 250,000 249,625 251,159 251,877 249,287 248,473 - -
Announcement Date 2/3/22 A 1/31/23 A 1/30/24 A 1/28/25 A 1/28/26 A - - -
1SEK in Million2SEK
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.31x - - 1.97% 856B
12.49x - - 2.11% 396B
5.99x - - 5.17% 381B
11.49x - - 4.51% 319B
5.85x - - 5.22% 306B
6.25x - - 4.99% 275B
17.53x - - 2.43% 277B
11.89x - - 2.26% 254B
16.57x - - 2.33% 228B
Average 11.38x 3.44% 365.83B
Weighted average by Cap. 11.64x 3.24%

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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