Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
Metrics | Range | Conclusion |
---|---|---|
Discount Rate | 14.0% - 13.0% | 13.5% |
Terminal Revenue Multiple | 0.4x - 0.5x | 0.4x |
Fair Value | kr99.74 - kr121.92 | kr110.64 |
Upside | 61.5% - 97.5% | 79.2% |
Select Revenue and EBITDA Forecast | ||||||
(SEK in millions) | Input Projections | |||||
Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
Revenue | 136,150 | 131,406 | 137,786 | 142,504 | 154,839 | 158,379 |
% Growth | 1.3% | -3.5% | 4.9% | 3.4% | 8.7% | 2.3% |
EBITDA | 5,502 | 9,198 | 11,018 | 11,794 | 16,311 | 17,001 |
% of Revenue | 4.0% | 7.0% | 8.0% | 8.3% | 10.5% | 10.7% |
Calculation of Free Cash Flow | ||||||
Projected Unlevered Cash Flow | ||||||
(SEK in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
EBITDA | 9,198 | 11,018 | 11,794 | 16,311 | 17,001 | |
Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
D&A | (5,765) | (5,925) | (6,006) | (7,185) | (7,591) | |
EBIT | 3,433 | 5,094 | 5,788 | 9,126 | 9,410 | |
Pro forma Taxes | (790) | (1,172) | (1,331) | (2,099) | (2,164) | |
NOPAT | 752 | 2,643 | 3,922 | 4,456 | 7,027 | 7,246 |
Capital Expenditures | (3,449) | (3,991) | (4,073) | (4,214) | (7,660) | (7,850) |
NWC Investment | 123 | (345) | 464 | 343 | 896 | 257 |
(+) D&A | 4,525 | 5,765 | 5,925 | 6,006 | 7,185 | 7,591 |
Free Cash Flow | 1,952 | 4,073 | 6,238 | 6,591 | 7,448 | 7,244 |
% Growth | 109% | 53% | 6% | 13% | -3% |