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Studsvik

Studsvik

SEKm 2025 2026e 2027e
Sales 883,3 899,26 941,69
Sales growth (%) -1,1 1,8 4,7
EBITDA 104 98 114
EBITDA margin (%) 11,8 10,9 12,1
EBIT adj. 56 67 82
EBIT adj. margin (%) 6,3 7,5 8,7
Pretax profit 52 49 63
EPS 4,54 4,41 5,9
EPS growth (%) N/A -2,9 33,9
EPS adj. 3,22 4,61 6,13
DPS N/A N/A N/A
Dividend per share 0 0 2
EV/EBITDA (x) 16,6 18,6 15,6
EV/EBIT adj. (x) 30,9 27,3 21,6
P/E (x) 43,7 45,01 33,61
P/E adj. (x) 61,7 43 32,4
EV/sales (x) 1,95 2,03 1,88
FCF yield (%) 5,5 -5,8 4,4
Le. adj. FCF yld. (%) 5,5 -6,2 3,9
Dividend yield (%) 0 0 1
Net IB debt/EBITDA (x) 0,9 1,6 0,9
Le. adj. ND/EBITDA (x) 0,8 1,5 0,7
SEKm 2025 2026e 2027e
Sales 883,3 899,26 941,69
COGS -671 -671 -681
Gross profit 213 228 261
Other operating items -109 -130 -147
EBITDA 104 98 114
Depreciation and amortisation -33 -30 -30
of which leasing depreciation N/A N/A N/A
Depreciation on leased assets -10 -9 -8
EBITA 70,88 68,73 83,73
EO Items N/A N/A N/A
Operating EO items 13 0 0
Impairment and PPA amortisation N/A N/A N/A
Impairment and amortisation charges -2 -2 -2
EBIT 68,74 67 81,86
Net financial items -16 -18 -19
Pretax profit 52 49 63
Tax -15 -12 -13
Net profit 37 37 50
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders 37 37 50
EPS 4,54 4,41 5,9
EPS adj. 3,22 4,61 6,13
Total extraordinary items after tax 13 0 0
Leasing payments -1 -7 -9
Tax rate (%) 28,7 24,4 21
Gross margin (%) 24,1 25,4 27,7
EBITDA margin (%) 11,8 10,9 12,1
EBITA margin (%) 8 7,6 8,9
EBIT margin (%) 7,8 7,5 8,7
Pre-tax margin (%) 5,9 5,4 6,7
Net margin (%) 4,2 4,1 5,3
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) -1,1 1,8 4,7
EBITDA growth (%) 73,8 -5,2 15,4
EBITA growth (%) 148,3 -3 21,8
EBIT growth (%) N/A -2,5 22,2
Net profit growth (%) 288,6 -1,3 34,7
EPS growth (%) N/A -2,9 33,9
Profitability N/A N/A N/A
Year N/A N/A N/A
ROE (%) 9,4 8,6 10,1
ROE adj. (%) 6,7 9 10,5
ROCE (%) 12,5 12,4 12,1
ROCE adj. (%) 10,6 12,7 12,4
ROIC (%) 9,6 9,4 10,6
ROIC adj. (%) 7,9 9,4 10,6
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 91 98 114
EBITDA adj. margin (%) 10,3 10,9 12,1
EBITDA lease adj. 90 91 104
EBITDA lease adj. margin (%) 10,2 10,1 11,1
EBITA adj. 58 69 84
EBITA adj. margin (%) 6,6 7,6 8,9
EBIT adj. 56 67 82
EBIT adj. margin (%) 6,3 7,5 8,7
Pretax profit Adj. 41 50 65
Net profit Adj. 26 39 51
Net profit to shareholders adj. 26 39 51
Net adj. margin (%) 3 4,3 5,5
SEKm 2025 2026e 2027e
EBITDA 104 98 114
Goodwill 206 279 279
Net financial items -16 -18 -19
Other intangible assets 26 26 26
Paid tax -21 -15 -13
Tangible fixed assets 273 277 283
Non-cash items -17 -4 0
Right-of-use asset 20 22 28
Cash flow before change in WC 50 61 81
Total other fixed assets N/A N/A N/A
Other Fixed Assets All 177 176 176
Change in working capital 70 -59 23
Fixed assets 702 780 792
Operating cash flow 120 2 104
Inventories 20 22 19
Capex tangible fixed assets -24 -26 -28
Receivables 125 126 141
Capex intangible fixed assets -3 0 -2
Other current assets 109 126 113
Acquisitions and Disposals -2 -73 0
Cash and liquid assets 50 32 98
Free cash flow 90 -97 74
Total assets 1006 1087 1164
Dividend paid -16 0 0
Shareholders equity 387 467 517
Share issues and buybacks 0 38 0
Minority 0 0 0
Leasing liability amortisation 0 -6 -8
Total equity 387 467 517
Other non-cash items N/A N/A N/A
Other changes in net debt -10 13 -6
Long-term debt 75 105 162
Pension debt 9 9 9
Convertible debt 0 0 0
Leasing liability 18 21 27
Total other long-term liabilities 174 160 160
Short-term debt 40 57 0
Accounts payable 36 36 38
Other current liabilities 266 232 252
Total liabilities and equity 1006 1087 1164
Net IB debt 93 159 99
Net IB debt excl. pension debt 84 150 90
Net IB debt excl. leasing 74 138 73
Capital employed 529 659 714
Capital invested 480 626 616
Working capital -48 7 -16
EV breakdown N/A N/A N/A
Market cap. diluted (m) 1631 1668 1668
Net IB debt adj. 93 159 99
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 1723 1827 1767
Total assets turnover (%) 85,3 86 83,7
Working capital/sales (%) -2,1 -2,3 -0,5
Year N/A N/A N/A
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 24 34,1 19,2
Net debt / market cap (%) 5,7 9,6 6
Equity ratio (%) 38,5 43 44,4
Net IB debt adj. / equity (%) 24 34,1 19,2
Current ratio 0,89 0,95 1,28
EBITDA/net interest 6,4 5,4 6
Net IB debt/EBITDA (x) 0,9 1,6 0,9
Net IB debt/EBITDA lease adj. (x) 0,8 1,5 0,7
Interest coverage 3,8 3 4,2
SEKm 2025 2026e 2027e
Shares outstanding adj. 8 8 8
Diluted shares adj. 8 8 8
EPS 4,54 4,41 5,9
Dividend per share 0 0 2
EPS adj. 3,22 4,61 6,13
BVPS 47,07 55,55 61,45
BVPS adj. 18,76 19,29 25,19
Net IB debt/share 11,29 18,96 11,82
Share price 198,4 198,4 198,4
Market cap. (m) 1631 1668 1668
Valuation N/A N/A N/A
P/E (x) 43,7 45,01 33,61
EV/sales (x) 1,95 2,03 1,88
EV/EBITDA (x) 16,6 18,6 15,6
EV/EBITA (x) 24,3 26,6 21,1
EV/EBIT (x) 25,1 27,3 21,6
Dividend yield (%) 0 0 1
FCF yield (%) 5,5 -5,8 4,4
Le. adj. FCF yld. (%) 5,5 -6,2 3,9
P/BVPS (x) 4,21 3,57 3,23
P/BVPS adj. (x) 10,58 10,28 7,88
P/E adj. (x) 61,7 43 32,4
EV/EBITDA adj. (x) 19 18,6 15,6
EV/EBITA adj. (x) 29,8 26,6 21,1
EV/EBIT adj. (x) 30,9 27,3 21,6
EV/CE (x) 3,3 2,8 2,5
Year N/A N/A N/A
Investment ratios N/A N/A N/A
Capex/sales (%) -3,1 -2,9 -3,2
Capex/depreciation 1,2 1,2 1,4
Capex tangibles / tangible fixed assets 8,9 9,3 10
Capex intangibles / definite intangibles 12,1 0,8 7,3
Depreciation on intang / def. intang 0 0 0
Depreciation on tangibles / tangibles 8,44 7,57 7,83

Key Figure Counter

It is not always easy to generate comparative valuations. Therefore, in order to make it easier for you as an investor, we have created this key figure calculator. Enter share price in the field below and then select the year in which you want to retrieve the financial data.

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P/E

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A common valuation multiple, the share price is divided by earnings per share.

P/E ratio stands for Price and Earnings. By dividing a company's market cap to its earnings, investors get a key ratio which they are able to compare between different companies. The ratio can either be calculated on historical or forward-looking numbers. 

It is important to notice that earnings are calculated after taxes, which mean that they can vary between companies due to different accounting standards.

33,6

EV/EBIT

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EV stands for Enterprise Value and is calculated as a company's markets cap in addition to its net debt. The net debt itself is computed through the company's interest-bearing debt minus total cash and cash equivalents. 

EBIT is the Earnings Before Interest and Taxes which is the operating income. This result, in comparison to the P/E ratio, is not affected by any financial items.

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20,6

EV/Sales

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EV stands for Enterprise Value and is calculated as a company's market cap adjusted for its net debt. The net debt itself is computed through the company's interest-bearing debt minus total cash and cash equivalents. S is the company's total sales.

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1,8

P/BVPS

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P/B stands for Price to Book, which is used to compare a share's market cap to its book value. A P/B ratio that is below one is considered to be valued below its assets.

Companies with high return on equity are usually associated with high P/B ratios, and vice versa. 

 

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3,1