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CELLNEX TELECOM, S.A. |
Market Closed -
Other stock markets
|
|
5-day change | 1st Jan Change | |
| 35.75 EUR | +1.42% | +3.53% | +15.62% | |
| Nov. 30 | Stonepeak Closes Purchase of Minority Interest in Cellnex Nordics Ahead of Schedule | MT |
| Nov. 30 | Italy, Spain stocks hit peaks after over 20% rally in 2023 | RE |
Valuation
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5 181 | 14 777 | 23 901 | 34 756 | 21 594 | 25 217 | - | - |
| Enterprise Value (EV) 1 | 8 347 | 18 714 | 30 401 | 49 308 | 21 594 | 45 103 | 44 946 | 44 464 |
| P/E ratio | -373x | -1 279x | -140x | -88,2x | -107x | -111x | -229x | 2 729x |
| Yield | 0,47% | 0,21% | 0,11% | 0,06% | - | 0,16% | 0,17% | 0,33% |
| Capitalization / Revenue | 5,97x | 14,3x | 15,3x | 13,7x | 6,18x | 6,21x | 5,87x | 5,59x |
| EV / Revenue | 9,62x | 18,2x | 19,5x | 19,5x | 6,18x | 11,1x | 10,5x | 9,85x |
| EV / EBITDA | 20,0x | 27,3x | 26,8x | 25,7x | 8,21x | 15,0x | 13,9x | 12,9x |
| EV / FCF | -38,3x | -39,4x | 950x | -130x | - | 28,6x | 26,1x | 23,7x |
| FCF Yield | -2,61% | -2,54% | 0,11% | -0,77% | - | 3,50% | 3,84% | 4,21% |
| Price to Book | 8,43x | 3,55x | 2,98x | 2,20x | - | 1,79x | 1,82x | 1,83x |
| Nbr of stocks (in thousands) | 231 419 | 385 127 | 486 576 | 679 090 | 698 392 | 705 381 | - | - |
| Reference price 2 | 22,4 | 38,4 | 49,1 | 51,2 | 30,9 | 35,8 | 35,8 | 35,8 |
| Announcement Date | 02/22/19 | 02/26/20 | 02/26/21 | 02/25/22 | 03/01/23 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 867 | 1 031 | 1 562 | 2 533 | 3 495 | 4 060 | 4 294 | 4 512 |
| EBITDA 1 | 418 | 686 | 1 132 | 1 921 | 2 630 | 3 016 | 3 227 | 3 455 |
| EBIT 1 | 113 | 142 | 158 | 233 | 310 | 408 | 590 | 744 |
| Operating Margin | 13,0% | 13,8% | 10,1% | 9,21% | 8,86% | 10,1% | 13,7% | 16,5% |
| Earnings before Tax (EBT) 1 | -36,2 | -54,0 | -199 | -534 | -503 | -391 | -95,8 | 64,1 |
| Net income 1 | -15,0 | -9,25 | -133 | -351 | -297 | -230 | -147 | -1,74 |
| Net margin | -1,73% | -0,90% | -8,52% | -13,9% | -8,50% | -5,66% | -3,42% | -0,04% |
| EPS 2 | -0,06 | -0,03 | -0,35 | -0,58 | -0,29 | -0,32 | -0,16 | 0,01 |
| Free Cash Flow 1 | -218 | -475 | 32,0 | -380 | - | 1 577 | 1 725 | 1 873 |
| FCF margin | -25,1% | -46,0% | 2,05% | -15,0% | - | 38,9% | 40,2% | 41,5% |
| FCF Conversion (EBITDA) | - | - | 2,83% | - | - | 52,3% | 53,4% | 54,2% |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0,10 | 0,08 | 0,05 | 0,03 | - | 0,06 | 0,06 | 0,12 |
| Announcement Date | 22/02/19 | 26/02/20 | 26/02/21 | 25/02/22 | 01/03/23 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period : December | 2019 S1 | 2020 S1 | 2020 S2 | 2021 Q1 | 2021 Q2 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 487 | 721 | 842 | 506 | 555 | 1 061 | 699 | 773 | 828 | 862 | 1 690 | 882 | 923 | 985 | 1 015 | 2 000 | 713 | 1 057 |
| EBITDA 1 | 321 | 527 | - | 381 | 422 | 804 | 531 | 587 | 634 | 648 | 1 282 | 655 | 693 | 730 | 760 | 1 490 | 758 | 748 |
| EBIT 1 | 89,3 | 69,9 | - | 41,0 | 36,0 | 77,0 | 40,0 | 44,1 | 49,0 | 50,0 | 99,0 | 38,0 | 113 | 81,0 | 53,5 | 134 | 158 | 125 |
| Operating Margin | 18,3% | 9,69% | - | 8,10% | 6,49% | 7,26% | 5,72% | 5,71% | 5,92% | 5,80% | 5,86% | 4,31% | 12,2% | 8,22% | 5,27% | 6,72% | 22,1% | 11,8% |
| Earnings before Tax (EBT) 1 | -20,4 | -65,2 | - | -71,0 | -106 | -177 | -113 | -244 | -128 | -129 | -257 | -128 | -121 | -124 | -144 | - | -39,3 | -69,1 |
| Net income 1 | -0,49 | -43,2 | - | -43,0 | -24,0 | -67,0 | -78,0 | -206 | -93,0 | -77,0 | -170 | -85,0 | -42,1 | -91,0 | -102 | - | -4,56 | -26,5 |
| Net margin | -0,10% | -5,99% | - | -8,50% | -4,32% | -6,31% | -11,2% | -26,7% | -11,2% | -8,93% | -10,1% | -9,64% | -4,56% | -9,24% | -10,1% | - | -0,64% | -2,51% |
| EPS 2 | - | - | - | - | -0,04 | - | -0,11 | -0,34 | -0,15 | -0,12 | - | -0,13 | - | -0,13 | -0,14 | - | - | -0,07 |
| Dividend per Share 2 | - | - | - | - | 0,03 | - | - | 0,03 | - | - | - | 0,04 | - | - | 0,02 | - | - | 0,06 |
| Announcement Date | 26/07/19 | 20/07/20 | 26/02/21 | 07/05/21 | 29/07/21 | 29/07/21 | 28/10/21 | 25/02/22 | 27/04/22 | 28/07/22 | 28/07/22 | 11/11/22 | 01/03/23 | 27/04/23 | 27/07/23 | 27/07/23 | 10/11/23 | - |
1EUR in Million2EUR
Estimates
Balance Sheet Analysis
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3 166 | 3 937 | 6 500 | 14 552 | - | 19 886 | 19 729 | 19 247 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7,57x | 5,74x | 5,74x | 7,58x | - | 6,59x | 6,11x | 5,57x |
| Free Cash Flow 1 | -218 | -475 | 32,0 | -380 | - | 1 577 | 1 725 | 1 873 |
| ROE (net income / shareholders' equity) | -2,45% | 0,23% | -2,19% | -2,05% | - | -1,75% | -0,82% | 0,26% |
| Shareholders' equity 1 | 612 | -4 100 | 6 090 | 17 153 | - | 13 103 | 17 917 | -680 |
| ROA (Net income/ Total Assets) | -0,31% | 0,06% | -0,72% | -1,07% | - | -0,53% | -0,15% | 0,15% |
| Assets 1 | 4 784 | -15 940 | 18 556 | 32 952 | - | 43 134 | 99 848 | -1 152 |
| Book Value Per Share 2 | 2,66 | 10,8 | 16,5 | 23,3 | - | 20,0 | 19,7 | 19,5 |
| Cash Flow per Share 2 | 1,71 | 1,42 | 2,06 | 1,87 | - | 2,72 | 3,04 | 3,19 |
| Capex 1 | 614 | 3 954 | 6 267 | 14 397 | - | 1 912 | 1 684 | 1 490 |
| Capex / Sales | 70,8% | 384% | 401% | 568% | - | 47,1% | 39,2% | 33,0% |
| Announcement Date | 22/02/19 | 26/02/20 | 26/02/21 | 25/02/22 | 01/03/23 | - | - | - |
1EUR in Million2EUR
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
26
Last Close Price
35.75EUR
Average target price
42.76EUR
Spread / Average Target
+19.62%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.62% | 26 907 M $ | |
| +27.76% | 72 542 M $ | |
| +22.04% | 57 834 M $ | |
| -3.95% | 23 731 M $ | |
| +5.75% | 10 567 M $ | |
| -19.09% | 9 910 M $ | |
| +33.81% | 9 340 M $ | |
| +26.40% | 8 473 M $ | |
| +63.92% | 7 674 M $ | |
| -0.61% | 5 600 M $ |
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- Stock Cellnex Telecom, S.A. - Bolsas y Mercados Espanoles
- Financials Cellnex Telecom, S.A.
