Company Valuation: Volvo

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 427,626 387,546 534,513 546,897 601,921 741,644 - -
Change - -9.37% 37.92% 2.32% 10.06% 23.21% - -
Enterprise Value (EV) 1 377,226 326,246 467,813 479,697 553,521 684,364 672,137 661,562
Change - -13.51% 43.39% 2.54% 15.39% 23.64% -1.79% -1.57%
P/E 13x 11.7x 10.7x 10.8x 17.5x 17.2x 14.2x 13.2x
PBR 3.02x 2.36x 2.99x 2.82x 3.37x 3.69x 3.4x 3.15x
PEG - -62.87x 0.2x 9.45x -0.6x 0.8x 0.7x 1.63x
Capitalization / Revenue 1.15x 0.82x 0.97x 1.04x 1.26x 1.49x 1.37x 1.3x
EV / Revenue 1.01x 0.69x 0.85x 0.91x 1.16x 1.38x 1.24x 1.16x
EV / EBITDA 6.31x 4.58x 4.73x 5.43x 7.41x 8.78x 7.47x 6.83x
EV / EBIT 9.2x 6.46x 6.03x 7.3x 10.8x 11.8x 9.96x 8.96x
EV / FCF 24.3x 25.5x 42x 16.8x 27.5x 20x 16.4x 15x
FCF Yield 4.12% 3.92% 2.38% 5.95% 3.64% 5.01% 6.11% 6.66%
Dividend per Share 2 13 14 18 18.5 13 15.54 18.36 19.68
Rate of return 6.2% 7.43% 6.88% 6.89% 4.39% 4.37% 5.16% 5.53%
EPS 2 16.12 16.09 24.5 24.78 16.94 20.62 24.98 27
Distribution rate 80.6% 87% 73.5% 74.7% 76.7% 75.4% 73.5% 72.9%
Net sales 1 372,216 473,479 552,764 526,816 479,183 497,117 540,390 569,287
EBITDA 1 59,735 71,196 98,865 88,266 74,704 77,988 89,926 96,834
EBIT 1 41,015 50,467 77,638 65,718 51,218 57,816 67,480 73,808
Net income 1 32,787 32,722 49,825 50,389 34,456 41,863 51,714 55,873
Net Debt 1 -50,400 -61,300 -66,700 -67,200 -48,400 -57,280 -69,507 -80,082
Reference price 2 209.65 188.48 261.70 268.60 295.90 355.50 355.50 355.50
Nbr of stocks (in thousands) 2,033,452 2,033,452 2,033,452 2,033,452 2,033,452 2,033,452 - -
Announcement Date 1/28/22 A 1/26/23 A 1/26/24 A 1/29/25 A 1/28/26 A - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.28x0.56x6.16x4.75% 14.82B
13.04x0.37x7.98x5.02% 3.85B
10.54x0.41x2.7x2.58% 2.86B
11.18x0.48x4.99x3.54% 2.24B
11.03x0.3x3.24x4.6% 2.05B
Average 11.61x 0.42x 5.01x 4.1% 5.16B
Weighted average by Cap. 12.00x 0.49x 5.71x 4.43%

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