Autoliv, Inc. (ALIV-SDB.ST) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+28.4%

SEK 1,532.03

vs SEK 1,193.00 price

Levered DCF

SEK 1,491.55

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.09

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.85×	11.46×	19.31×	15.65×	20.82×	43.33×	15.91×	32.36×
P/B	3.6×	3.21×	3.69×	2.54×	3.44×	3.36×	3.48×	3.28×
P/S	0.81×	0.7×	0.9×	0.75×	1.1×	1.09×	0.86×	0.71×
EV / EBITDA	6.9×	6.61×	10.13×	7.75×	9.58×	12.89×	8.56×	7.24×
Gross margin	19.2%	18.5%	17.4%	15.8%	18.4%	16.7%	18.5%	19.7%
Operating margin	10.1%	9.4%	6.6%	7.5%	8.2%	5.1%	8.5%	7.9%
Net margin	6.8%	6.2%	4.7%	4.8%	5.3%	2.5%	5.4%	2.2%
Current ratio	1.05×	0.96×	0.98×	1.02×	1.3×	1.36×	1.25×	1.15×
Debt / equity	0.9×	0.91×	0.8×	0.74×	0.81×	1.06×	1.07×	1.18×
Interest coverage	10.58×	9.06×	7.42×	10.98×	11.25×	5.23×	10.44×	10.38×
Dividend yield	2.7%	3.0%	2.4%	3.4%	1.8%	0.7%	3.0%	3.5%
Payout ratio	32.4%	33.9%	46.1%	53.0%	37.9%	28.9%	47.0%	112.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	30.4%	28.4%	19.1%	16.2%	16.5%	7.8%	21.9%	10.1%
Return on invested capital	16.7%	15.8%	11.3%	9.6%	9.4%	4.6%	10.9%	9.4%
Return on assets	9.0%	8.3%	5.9%	5.5%	5.8%	2.3%	6.8%	2.8%
Free cash flow yield	8.2%	6.6%	4.3%	1.9%	3.3%	6.3%	2.2%	0.6%
Earnings yield	8.4%	8.8%	5.2%	6.4%	4.8%	2.3%	6.3%	3.1%
Enterprise value	SEK 11B	SEK 9.1B	SEK 11B	SEK 8B	SEK 10.2B	SEK 9.5B	SEK 9.1B	SEK 7.8B
Net debt / EBITDA	1.08×	1.27×	1.42×	1.3×	1.1×	1.87×	1.69×	1.5×
Cash conversion cycle (days)	31	39	44	52	56	66	60	60