Stock GARO GARO AB
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Financials GARO AB

Equities

GARO

SE0015812417

Electrical Components & Equipment

Market Closed - Nasdaq Stockholm
Other stock markets
 12:00:00 2024-07-12 pm EDT 		5-day change 1st Jan Change
25.55 SEK -1.35% Intraday chart for GARO AB -4.66% -41.29%
May. 14 Garo Aktiebolag Resolves to Pay No Dividend for the Financial Year 2023 CI
May. 14 Transcript : Garo Aktiebolag, Q1 2024 Earnings Call, May 14, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,070 6,350 10,800 5,430 2,176 1,278 - -
Enterprise Value (EV) 1 3,116 6,361 10,791 5,574 2,398 1,494 1,404 1,306
P/E ratio 35.8 x 66.6 x 64.9 x 45.1 x 69.1 x 35.3 x 11.8 x 9.3 x
Yield - 0.75% 0.65% 0.74% - 1.41% 4.24% 5.38%
Capitalization / Revenue 3.05 x 6.11 x 8.33 x 3.91 x 1.59 x 1.01 x 0.92 x 0.83 x
EV / Revenue 3.09 x 6.12 x 8.33 x 4.01 x 1.75 x 1.18 x 1.01 x 0.85 x
EV / EBITDA 23.1 x 39 x 44.4 x 29.5 x 24.1 x 13.4 x 6.91 x 5.24 x
EV / FCF 37.2 x 88.5 x 142 x -180 x -29 x -41.5 x 11.6 x 9.07 x
FCF Yield 2.69% 1.13% 0.7% -0.55% -3.44% -2.41% 8.62% 11%
Price to Book 8.95 x 14.8 x 19.6 x 8.84 x 3.57 x 1.95 x 1.75 x -
Nbr of stocks (in thousands) 50,000 50,000 50,000 50,000 50,000 50,000 - -
Reference price 2 61.40 127.0 216.0 108.6 43.52 25.55 25.55 25.55
Announcement Date 2/18/20 2/12/21 2/23/22 2/23/23 2/21/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,008 1,040 1,296 1,390 1,370 1,270 1,389 1,534
EBITDA 1 135 163.2 243 188.8 99.6 111.3 203.2 249.4
EBIT 1 112.6 136.2 207.2 152.8 51.1 56.64 146.8 188
Operating Margin 11.17% 13.1% 15.99% 10.99% 3.73% 4.46% 10.57% 12.26%
Earnings before Tax (EBT) 1 110.2 123.1 208.4 153.4 47.8 47.9 138.7 177.1
Net income 1 85.7 95.3 166.7 120.5 31.3 36.19 108.5 137.4
Net margin 8.5% 9.17% 12.86% 8.67% 2.28% 2.85% 7.81% 8.96%
EPS 2 1.714 1.906 3.330 2.410 0.6300 0.7228 2.172 2.748
Free Cash Flow 1 83.7 71.9 76 -30.9 -82.6 -36 121 144
FCF margin 8.3% 6.91% 5.87% -2.22% -6.03% -2.84% 8.71% 9.39%
FCF Conversion (EBITDA) 62% 44.06% 31.28% - - - 59.54% 57.75%
FCF Conversion (Net income) 97.67% 75.45% 45.59% - - - 111.51% 104.81%
Dividend per Share 2 - 0.9500 1.400 0.8000 - 0.3614 1.084 1.374
Announcement Date 2/18/20 2/12/21 2/23/22 2/23/23 2/21/24 - - -
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 2025 Q1 2025 Q2
Net sales 1 370.1 381.6 350.2 317 341.8 370.3 386 304.2 311 292.5 318.5 315.7 339.9 326 351
EBITDA 1 68.1 - - - 19.8 37.2 31.1 18.5 12.9 7.5 16.47 32.75 43.85 48 55
EBIT 1 57.7 66.8 39.6 37.4 8.9 27.8 18.2 5.3 -0.1 -6.7 2.135 20.12 30.25 35 41
Operating Margin 15.59% 17.51% 11.31% 11.8% 2.6% 7.51% 4.72% 1.74% -0.03% -2.29% 0.67% 6.37% 8.9% 10.74% 11.68%
Earnings before Tax (EBT) 1 59.1 66.7 41.4 34.5 11 27.4 25.4 -7.8 2.8 -6.9 -0.5987 17.39 27.52 32 38
Net income 1 46.4 53.7 33.3 26.6 7 20.7 20 -9.4 0.1 -8.1 -0.4645 13.49 21.35 25 30
Net margin 12.54% 14.07% 9.51% 8.39% 2.05% 5.59% 5.18% -3.09% 0.03% -2.77% -0.15% 4.27% 6.28% 7.67% 8.55%
EPS 2 0.9300 1.070 0.6700 0.5300 0.1400 0.4100 0.4000 -0.1900 - -0.1600 -0.009290 0.2698 0.4270 0.5000 0.5900
Dividend per Share 2 1.400 - - - - - - - - - - - - - 0.1300
Announcement Date 2/23/22 5/11/22 8/16/22 11/11/22 2/23/23 5/11/23 8/15/23 11/10/23 2/21/24 5/14/24 - - - - -
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 45.6 11.3 - 144 222 217 127 29
Net Cash position 1 - - 9.4 - - - - -
Leverage (Debt/EBITDA) 0.3378 x 0.0692 x - 0.7611 x 2.23 x 1.95 x 0.6236 x 0.1163 x
Free Cash Flow 1 83.7 71.9 76 -30.9 -82.6 -36 121 144
ROE (net income / shareholders' equity) 26.8% 24.7% 34% 20.7% 5.1% 5.75% 15.6% 17%
ROA (Net income/ Total Assets) - - - 11.5% 2.66% 2.2% 9.9% 10.2%
Assets 1 - - - 1,045 1,176 1,645 1,096 1,347
Book Value Per Share 2 6.860 8.600 11.00 12.30 12.20 13.10 14.60 -
Cash Flow per Share - - - - - - - -
Capex 1 31 39.6 45.3 120 108 14.5 19.3 31
Capex / Sales 3.08% 3.81% 3.5% 8.64% 7.9% 1.14% 1.39% 2.02%
Announcement Date 2/18/20 2/12/21 2/23/22 2/23/23 2/21/24 - - -
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

Ratings for GARO AB

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
25.55 SEK
Average target price
29.5 SEK
Spread / Average Target
+15.46%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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