Financials Chorus Limited

Equities

CNU

NZCNUE0001S2

Integrated Telecommunications Services

End-of-day quote New Zealand S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
7.195 NZD -1.91% Intraday chart for Chorus Limited -0.62% -8.46%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,504 3,325 2,861 3,224 3,668 3,122 - -
Enterprise Value (EV) 1 4,573 5,935 6,096 6,368 6,120 5,973 6,166 6,231
P/E ratio 57 x 74.8 x 80 x 65.6 x 169 x 229 x 116 x 60.7 x
Yield 4.04% 3.21% 3.91% 4.85% 5.04% 6.6% 6.92% 7.28%
Capitalization / Revenue 2.58 x 3.47 x 3.02 x 3.34 x 3.74 x 3.11 x 3.04 x 2.95 x
EV / Revenue 4.71 x 6.19 x 6.44 x 6.6 x 6.24 x 5.95 x 6 x 5.9 x
EV / EBITDA 7.19 x 9.16 x 9.39 x 9.65 x 8.97 x 8.6 x 8.55 x 8.31 x
EV / FCF -14.8 x -29 x -67 x 120 x 219 x 81.3 x 32.4 x 23.9 x
FCF Yield -6.78% -3.45% -1.49% 0.83% 0.46% 1.23% 3.09% 4.19%
Price to Book 2.56 x 3.58 x 3.02 x 3.14 x 3.51 x 3.76 x 5.09 x 7.05 x
Nbr of stocks (in thousands) 439,288 444,492 447,025 446,512 435,334 433,887 - -
Reference price 2 5.700 7.480 6.400 7.220 8.425 7.195 7.195 7.195
Announcement Date 8/25/19 8/23/20 8/22/21 8/21/22 8/20/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Giugno 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 970 959 947 965 980 1,004 1,028 1,057
EBITDA 1 636 648 649 660 682 694.2 720.7 750.2
EBIT 1 243 246 224 248 226 233.7 259.7 292.5
Operating Margin 25.05% 25.65% 23.65% 25.7% 23.06% 23.27% 25.27% 27.67%
Earnings before Tax (EBT) 1 78 73 72 106 31 20.25 53.58 86.39
Net income 1 53 52 47 64 25 11.93 37.44 61.69
Net margin 5.46% 5.42% 4.96% 6.63% 2.55% 1.19% 3.64% 5.84%
EPS 2 0.1000 0.1000 0.0800 0.1100 0.0500 0.0315 0.0619 0.1186
Free Cash Flow 1 -310 -205 -91 53 28 73.5 190.3 261
FCF margin -31.96% -21.38% -9.61% 5.49% 2.86% 7.32% 18.52% 24.7%
FCF Conversion (EBITDA) - - - 8.03% 4.11% 10.59% 26.41% 34.79%
FCF Conversion (Net income) - - - 82.81% 112% 616.19% 508.35% 423.09%
Dividend per Share 2 0.2300 0.2400 0.2500 0.3500 0.4250 0.4752 0.4977 0.5235
Announcement Date 8/25/19 8/23/20 8/22/21 8/21/22 8/20/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Giugno 2021 S1 2023 S1 2024 S1 2024 S2
Net sales - 487 503 -
EBITDA - 342 349 -
EBIT - - - -
Operating Margin - - - -
Earnings before Tax (EBT) - - - -
Net income - - - -
Net margin - - - -
EPS - - - -
Dividend per Share 1 0.1100 0.1700 0.1900 0.2800
Announcement Date - 2/20/23 2/27/24 -
1NZD
Estimates

Balance Sheet Analysis

Fiscal Period: Giugno 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,069 2,610 3,235 3,144 2,452 2,852 3,044 3,109
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.253 x 4.028 x 4.985 x 4.764 x 3.595 x 4.108 x 4.223 x 4.144 x
Free Cash Flow 1 -310 -205 -91 53 28 73.5 190 261
ROE (net income / shareholders' equity) 5.3% 5.46% 5.01% 6.34% 3.16% 1.29% 6.03% 10.2%
ROA (Net income/ Total Assets) 1% 0.92% 0.82% 1.09% 0.42% 0.4% 1% 2.62%
Assets 1 5,316 5,630 5,751 5,853 5,992 2,982 3,744 2,355
Book Value Per Share 2 2.230 2.090 2.120 2.300 2.400 1.920 1.410 1.020
Cash Flow per Share 2 0.9400 0.8800 0.9500 0.9900 0.9500 1.090 1.010 1.060
Capex 1 806 679 647 518 495 436 379 332
Capex / Sales 83.09% 70.8% 68.32% 53.68% 50.51% 43.36% 36.83% 31.46%
Announcement Date 8/25/19 8/23/20 8/22/21 8/21/22 8/20/23 - - -
1NZD in Million2NZD
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
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
6
Last Close Price
7.195 NZD
Average target price
7.34 NZD
Spread / Average Target
+2.02%
Consensus

Annual profits - Rate of surprise

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