KARNOV GROUP AB |
Real-time Estimate
Other stock markets
|
5-day change | 1st Jan Change | ||
| 87.2 SEK | -0.11% |
|
+0.23% | +56.94% |
| May. 03 | Karnov's Board Backs Greenoaks, Long Path's SEK9.1 Billion Takeover Bid | MT |
| May. 03 | Transcript : Karnov Group AB, Q1 2024 Earnings Call, May 03, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,177 | 5,811 | 7,214 | 6,298 | 6,000 | 9,418 | - | - |
| Enterprise Value (EV) 1 | 6,152 | 6,554 | 7,572 | 8,377 | 7,755 | 11,043 | 10,667 | 10,251 |
| P/E ratio | 1,767 x | 58.3 x | 77.9 x | 104 x | 163 x | 205 x | 43.1 x | 25.8 x |
| Yield | 0.85% | 1.68% | - | - | - | 1.23% | 1.53% | 1.79% |
| Capitalization / Revenue | 6.84 x | 7.53 x | 8.22 x | 5.66 x | 2.42 x | 3.69 x | 3.54 x | 3.41 x |
| EV / Revenue | 8.13 x | 8.5 x | 8.62 x | 7.52 x | 3.13 x | 4.33 x | 4.01 x | 3.72 x |
| EV / EBITDA | 19 x | 19.6 x | 20.2 x | 19.9 x | 12.2 x | 15 x | 13 x | 10.8 x |
| EV / FCF | 734 x | 22.1 x | 30.2 x | 45.8 x | 44.6 x | 33.9 x | 21.4 x | 15.8 x |
| FCF Yield | 0.14% | 4.52% | 3.31% | 2.18% | 2.24% | 2.95% | 4.67% | 6.32% |
| Price to Book | 3.39 x | 3.76 x | 3.37 x | 2.71 x | 2.57 x | 3.87 x | 3.68 x | 3.39 x |
| Nbr of stocks (in thousands) | 97,671 | 97,671 | 107,677 | 107,847 | 108,102 | 107,876 | - | - |
| Reference price 2 | 53.00 | 59.50 | 67.00 | 58.40 | 55.50 | 87.30 | 87.30 | 87.30 |
| Announcement Date | 2/21/20 | 2/25/21 | 2/23/22 | 2/15/23 | 2/14/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 757 | 771.4 | 878.1 | 1,113 | 2,475 | 2,552 | 2,658 | 2,759 |
| EBITDA 1 | 323.9 | 333.6 | 374.3 | 422 | 636.9 | 737.5 | 819.4 | 945 |
| EBIT 1 | 206 | 288.2 | 326.9 | 363.8 | 487.7 | 573 | 682 | 741 |
| Operating Margin | 27.21% | 37.35% | 37.23% | 32.67% | 19.71% | 22.45% | 25.66% | 26.85% |
| Earnings before Tax (EBT) 1 | 3.095 | 120.6 | 103.2 | 50.03 | 34.4 | 48.89 | 268.7 | 448.5 |
| Net income 1 | 2.621 | 99.9 | 84.91 | 59.9 | 36.9 | 44.07 | 211.2 | 352.8 |
| Net margin | 0.35% | 12.95% | 9.67% | 5.38% | 1.49% | 1.73% | 7.95% | 12.79% |
| EPS 2 | 0.0300 | 1.020 | 0.8600 | 0.5600 | 0.3400 | 0.4268 | 2.025 | 3.387 |
| Free Cash Flow 1 | 8.382 | 296.4 | 250.8 | 182.9 | 174 | 325.5 | 498 | 648 |
| FCF margin | 1.11% | 38.42% | 28.56% | 16.42% | 7.03% | 12.75% | 18.73% | 23.48% |
| FCF Conversion (EBITDA) | 2.59% | 88.83% | 67.01% | 43.34% | 27.32% | 44.14% | 60.77% | 68.57% |
| FCF Conversion (Net income) | 319.8% | 296.64% | 295.37% | 305.33% | 471.54% | 738.63% | 235.76% | 183.66% |
| Dividend per Share 2 | 0.4500 | 1.000 | - | - | - | 1.070 | 1.335 | 1.565 |
| Announcement Date | 2/21/20 | 2/25/21 | 2/23/22 | 2/15/23 | 2/14/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 221.1 | 254.9 | 227 | 263.2 | 368.3 | 613.7 | 607.8 | 618.9 | 634.2 | 631.7 | - | - | - |
| EBITDA | 84.49 | 117.1 | 86.65 | 108 | 110.2 | 173.3 | 147.5 | 153.5 | - | - | - | - | - |
| EBIT | 73.66 | 104.1 | 74.1 | 93 | 92.6 | 140.4 | 109.3 | 116 | 122 | 143.5 | - | - | - |
| Operating Margin | 33.32% | 40.82% | 32.64% | 35.34% | 25.14% | 22.88% | 17.98% | 18.74% | 19.24% | 22.72% | - | - | - |
| Earnings before Tax (EBT) | 4.49 | 30.42 | 3.748 | 58.16 | -42.3 | 21.9 | -33.4 | 22.5 | 23.4 | - | - | - | - |
| Net income | 1.483 | 24.25 | -1 | 49.58 | -12.91 | 18.4 | -26.2 | - | 23.5 | - | - | - | - |
| Net margin | 0.67% | 9.51% | -0.44% | 18.84% | -3.5% | 3% | -4.31% | - | 3.71% | - | - | - | - |
| EPS | - | 0.2200 | -0.0100 | 0.4600 | -0.1200 | 0.1700 | -0.2400 | 0.2000 | 0.2200 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/23/22 | 5/10/22 | 8/18/22 | 11/9/22 | 2/15/23 | 5/9/23 | 8/17/23 | 11/8/23 | 2/14/24 | 5/3/24 | - | - | - |
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 976 | 743 | 358 | 2,079 | 1,756 | 1,626 | 1,250 | 834 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.012 x | 2.226 x | 0.9554 x | 4.927 x | 2.756 x | 2.204 x | 1.525 x | 0.882 x |
| Free Cash Flow 1 | 8.38 | 296 | 251 | 183 | 174 | 326 | 498 | 648 |
| ROE (net income / shareholders' equity) | 0.25% | 6.51% | 4.6% | 2.68% | 1.58% | 1.58% | 7.12% | 12.2% |
| ROA (Net income/ Total Assets) | 0.08% | 2.81% | 2.07% | 1% | 0.52% | 0.54% | 2.8% | 4.46% |
| Assets 1 | 3,395 | 3,555 | 4,106 | 5,987 | 7,129 | 8,176 | 7,544 | 7,914 |
| Book Value Per Share 2 | 15.60 | 15.80 | 19.90 | 21.50 | 21.60 | 22.60 | 23.70 | 25.80 |
| Cash Flow per Share 2 | - | - | - | 2.550 | 3.120 | 3.110 | 4.980 | 6.620 |
| Capex 1 | 129 | 82.6 | 63.4 | 93.1 | 163 | 170 | 164 | 155 |
| Capex / Sales | 17.03% | 10.71% | 7.22% | 8.36% | 6.59% | 6.66% | 6.16% | 5.61% |
| Announcement Date | 2/21/20 | 2/25/21 | 2/23/22 | 2/15/23 | 2/14/24 | - | - | - |
1SEK in Million2SEK
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
87.3
SEK
Average target price
74.5
SEK
Spread / Average Target
-14.66%
EPS Revisions
- Stock Market
- Equities
- KAR Stock
- Financials Karnov Group AB