ATLAS COPCO AB |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 204 SEK | -0.73% |
|
+3.16% | +17.55% |
| May. 22 | Q1 2024 : Some misses, some beats, a few surprises and broadly lofty valuations |  |
| May. 16 | Transcript : Atlas Copco AB - Analyst/Investor Day |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 435,589 | 491,424 | 726,136 | 580,332 | 808,050 | 950,127 | - | - |
| Enterprise Value (EV) 1 | 447,602 | 507,845 | 734,287 | 606,902 | 831,491 | 959,517 | 938,125 | 924,674 |
| P/E ratio | 27.5 x | 34.7 x | 42.1 x | 25.6 x | 30.2 x | 32.5 x | 30.4 x | 28.1 x |
| Yield | 1.87% | 1.73% | 1.21% | 1.87% | 1.61% | 1.48% | 1.58% | 1.74% |
| Capitalization / Revenue | 4.2 x | 4.92 x | 6.55 x | 4.11 x | 4.68 x | 5.24 x | 4.94 x | 4.64 x |
| EV / Revenue | 4.31 x | 5.09 x | 6.62 x | 4.29 x | 4.82 x | 5.3 x | 4.88 x | 4.52 x |
| EV / EBITDA | 16.3 x | 20.2 x | 24.7 x | 16.7 x | 18.1 x | 20 x | 18.3 x | 16.8 x |
| EV / FCF | 33.2 x | 26.2 x | 37.1 x | 37.1 x | 36.7 x | 30.4 x | 28.4 x | 26.1 x |
| FCF Yield | 3.01% | 3.82% | 2.7% | 2.69% | 2.72% | 3.29% | 3.53% | 3.83% |
| Price to Book | 8.49 x | 9.57 x | 11.3 x | 7.69 x | 9.13 x | 9.01 x | 7.77 x | 6.83 x |
| Nbr of stocks (in thousands) | 4,865,847 | 4,863,710 | 4,874,791 | 4,866,473 | 4,873,209 | 4,872,869 | - | - |
| Reference price 2 | 93.40 | 105.3 | 156.4 | 123.1 | 173.6 | 204.0 | 204.0 | 204.0 |
| Announcement Date | 1/28/20 | 1/29/21 | 1/25/22 | 1/26/23 | 1/25/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 103,756 | 99,787 | 110,912 | 141,325 | 172,664 | 181,172 | 192,403 | 204,760 |
| EBITDA 1 | 27,377 | 25,187 | 29,712 | 36,398 | 45,978 | 47,867 | 51,344 | 54,964 |
| EBIT 1 | 22,677 | 19,998 | 24,246 | 30,065 | 38,217 | 40,407 | 43,232 | 46,543 |
| Operating Margin | 21.86% | 20.04% | 21.86% | 21.27% | 22.13% | 22.3% | 22.47% | 22.73% |
| Earnings before Tax (EBT) 1 | 21,572 | 18,825 | 23,410 | 30,044 | 36,442 | 39,789 | 42,527 | 46,346 |
| Net income 1 | 16,522 | 14,779 | 18,130 | 23,477 | 28,040 | 30,410 | 32,753 | 35,431 |
| Net margin | 15.92% | 14.81% | 16.35% | 16.61% | 16.24% | 16.79% | 17.02% | 17.3% |
| EPS 2 | 3.398 | 3.035 | 3.712 | 4.810 | 5.750 | 6.276 | 6.718 | 7.270 |
| Free Cash Flow 1 | 13,473 | 19,408 | 19,793 | 16,346 | 22,633 | 31,609 | 33,089 | 35,374 |
| FCF margin | 12.99% | 19.45% | 17.85% | 11.57% | 13.11% | 17.45% | 17.2% | 17.28% |
| FCF Conversion (EBITDA) | 49.21% | 77.06% | 66.62% | 44.91% | 49.23% | 66.04% | 64.45% | 64.36% |
| FCF Conversion (Net income) | 81.55% | 131.32% | 109.17% | 69.63% | 80.72% | 103.94% | 101.03% | 99.84% |
| Dividend per Share 2 | 1.750 | 1.825 | 1.900 | 2.300 | 2.800 | 3.027 | 3.227 | 3.546 |
| Announcement Date | 1/28/20 | 1/29/21 | 1/25/22 | 1/26/23 | 1/25/24 | - | - | - |
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 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 29,533 | 30,086 | 33,111 | 38,074 | 40,054 | 39,861 | 43,364 | 44,485 | 44,954 | - | 42,875 | 45,735 | 46,266 | 47,469 | 46,147 | 50,350 |
| EBITDA 1 | 7,912 | 7,966 | 8,533 | 10,102 | 9,797 | 10,441 | 11,369 | 12,100 | 12,068 | - | 11,560 | 12,299 | 12,775 | 13,004 | 13,009 | 13,720 |
| EBIT 1 | 6,462 | 6,525 | 7,042 | 8,469 | 8,029 | 8,663 | 9,488 | 10,110 | 9,956 | - | 9,486 | 10,236 | 10,512 | 10,579 | 10,568 | 11,427 |
| Operating Margin | 21.88% | 21.69% | 21.27% | 22.24% | 20.05% | 21.73% | 21.88% | 22.73% | 22.15% | - | 22.12% | 22.38% | 22.72% | 22.29% | 22.9% | 22.69% |
| Earnings before Tax (EBT) 1 | 6,250 | 6,671 | 7,305 | 8,448 | 7,620 | 8,655 | 9,026 | 9,928 | 8,833 | - | 9,361 | 10,084 | 10,340 | 10,460 | 10,412 | 10,511 |
| Net income 1 | 4,889 | 5,213 | 5,678 | 6,533 | 6,053 | 6,523 | 6,940 | 7,798 | 6,779 | - | 7,172 | 7,682 | 7,961 | 7,979 | 7,942 | 8,369 |
| Net margin | 16.55% | 17.33% | 17.15% | 17.16% | 15.11% | 16.36% | 16% | 17.53% | 15.08% | - | 16.73% | 16.8% | 17.21% | 16.81% | 17.21% | 16.62% |
| EPS 2 | 1.000 | 1.068 | 1.160 | 1.340 | 1.240 | 1.340 | 1.420 | 1.600 | 1.390 | - | 1.470 | 1.588 | 1.651 | 1.659 | 1.614 | 1.716 |
| Dividend per Share 2 | 1.900 | - | - | - | 2.300 | - | - | - | 2.800 | 2.800 | - | - | - | 2.935 | - | - |
| Announcement Date | 1/25/22 | 4/26/22 | 7/19/22 | 10/19/22 | 1/26/23 | 4/27/23 | 7/19/23 | 10/25/23 | 1/25/24 | 1/25/24 | 4/24/24 | - | - | - | - | - |
1SEK in Million2SEK
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 12,013 | 16,421 | 8,151 | 26,570 | 23,441 | 9,391 | - | - |
| Net Cash position 1 | - | - | - | - | - | - | 12,001 | 25,453 |
| Leverage (Debt/EBITDA) | 0.4388 x | 0.652 x | 0.2743 x | 0.73 x | 0.5098 x | 0.1962 x | - | - |
| Free Cash Flow 1 | 13,473 | 19,408 | 19,793 | 16,346 | 22,633 | 31,609 | 33,089 | 35,374 |
| ROE (net income / shareholders' equity) | 35% | 27% | 30% | 32% | 32.7% | 30.6% | 28.1% | 26.5% |
| ROA (Net income/ Total Assets) | 15.6% | 13.1% | 14.5% | 15.2% | 15.8% | 16.1% | 15.9% | 16% |
| Assets 1 | 105,837 | 112,542 | 125,024 | 154,492 | 177,468 | 188,615 | 205,995 | 221,382 |
| Book Value Per Share 2 | 11.00 | 11.00 | 13.90 | 16.00 | 19.00 | 22.60 | 26.30 | 29.90 |
| Cash Flow per Share 2 | 3.320 | 4.560 | 4.740 | 4.380 | 5.760 | 7.310 | 7.950 | 8.470 |
| Capex 1 | 2,678 | 2,796 | 3,359 | 5,031 | 5,451 | 5,815 | 5,967 | 6,153 |
| Capex / Sales | 2.58% | 2.8% | 3.03% | 3.56% | 3.16% | 3.21% | 3.1% | 3% |
| Announcement Date | 1/28/20 | 1/29/21 | 1/25/22 | 1/26/23 | 1/25/24 | - | - | - |
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
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
204
SEK
Average target price
185.8
SEK
Spread / Average Target
-8.93%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +17.55% | 89.24B | |
| +15.01% | 68.1B | |
| +23.48% | 38.53B | |
| +26.14% | 34.97B | |
| +9.17% | 28.05B | |
| +10.71% | 27.66B | |
| +3.07% | 26.72B | |
| +19.75% | 25.31B | |
| +5.96% | 23.14B | |
| +21.49% | 19.03B |
- Stock Market
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- ATCO A Stock
- Financials Atlas Copco AB
