Financials Frequentis AG

Equities

Market Closed - Xetra Other stock markets 11:35:34 2024-04-26 am EDT			5-day change	1st Jan Change
27.6 ^EUR	+2.60%		+4.55%	+1.10%

Apr. 11	Deutsche Telekom's T-Systems Deploys Frequentis Product at Dublin Airport	MT
Apr. 09	Transcript : Frequentis AG, Q4 2023 Earnings Call, Apr 09, 2024

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	266.6	241.7	355.5	379.4	362.5	366	-	-
Enterprise Value (EV) ¹	238.9	193	355.5	327.6	315.5	250.1	228.9	366
P/E ratio	21.7 x	-60.7 x	17.9 x	20.3 x	19.6 x	18.2 x	16.6 x	14.8 x
Yield	0.74%	0.82%	0.56%	0.7%	0.89%	1.09%	1.25%	1.34%
Capitalization / Revenue	0.88 x	0.81 x	1.07 x	0.98 x	0.85 x	0.81 x	0.75 x	0.67 x
EV / Revenue	0.79 x	0.64 x	1.07 x	0.85 x	0.74 x	0.55 x	0.47 x	0.67 x
EV / EBITDA	7.92 x	4.6 x	7.64 x	7.18 x	7.14 x	5.25 x	4.43 x	6.41 x
EV / FCF	18.1 x	3.73 x	14.7 x	79.6 x	22.7 x	8.77 x	7.76 x	13.8 x
FCF Yield	5.52%	26.8%	6.79%	1.26%	4.41%	11.4%	12.9%	7.23%
Price to Book	2.33 x	2.21 x	-	2.62 x	2.36 x	2.06 x	1.88 x	-
Nbr of stocks (in thousands)	13,200	13,280	13,265	13,265	13,279	13,262	-	-
Reference price ²	20.20	18.20	26.80	28.60	27.30	27.60	27.60	27.60
Announcement Date	4/2/20	4/7/21	4/5/22	4/12/23	4/9/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	303.6	299.4	333.5	386	427.5	450.9	484.9	543.1
EBITDA ¹	30.18	41.92	46.51	45.6	44.2	47.67	51.7	57.11
EBIT ¹	17.22	26.81	28.97	28.1	26.6	28.3	30.94	35.22
Operating Margin	5.67%	8.95%	8.69%	7.28%	6.22%	6.28%	6.38%	6.48%
Earnings before Tax (EBT) ¹	16.98	-4.422	27.92	24.74	26.42	28.27	31.45	34.99
Net income ¹	11.82	-4.036	19.97	18.72	18.42	20.18	22.11	24.83
Net margin	3.89%	-1.35%	5.99%	4.85%	4.31%	4.48%	4.56%	4.57%
EPS ²	0.9300	-0.3000	1.500	1.410	1.390	1.520	1.665	1.870
Free Cash Flow ¹	13.19	51.78	24.14	4.117	13.91	28.53	29.51	26.47
FCF margin	4.34%	17.3%	7.24%	1.07%	3.25%	6.33%	6.09%	4.87%
FCF Conversion (EBITDA)	43.7%	123.53%	51.91%	9.03%	31.47%	59.85%	57.09%	46.35%
FCF Conversion (Net income)	111.58%	-	120.88%	21.99%	75.53%	141.37%	133.47%	106.59%
Dividend per Share ²	0.1500	0.1500	0.1500	0.2000	0.2440	0.3000	0.3450	0.3700
Announcement Date	4/2/20	4/7/21	4/5/22	4/12/23	4/9/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	27.7	48.7	-	51.8	47.1	116	137	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	13.2	51.8	24.1	4.12	13.9	28.5	29.5	26.5
ROE (net income / shareholders' equity)	11.9%	-3.61%	17%	13.5%	12.2%	12.1%	11.9%	12.1%
ROA (Net income/ Total Assets)	5.03%	7.45%	-	-	-	-	-	-
Assets ¹	235.1	-54.15	-	-	-	-	-	-
Book Value Per Share ²	8.680	8.230	-	10.90	11.60	13.40	14.70	-
Cash Flow per Share ²	1.390	4.120	3.660	1.070	1.930	3.340	3.020	3.160
Capex ¹	4.54	2.97	24.6	10.1	11.7	11.6	11.7	12.9
Capex / Sales	1.5%	0.99%	7.38%	2.62%	2.75%	2.56%	2.42%	2.38%
Announcement Date	4/2/20	4/7/21	4/5/22	4/12/23	4/9/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

27.6 EUR

Average target price

33.56 EUR

Spread / Average Target

+21.58%

	1st Jan change	Capi.
FREQUENTIS AG	+1.10%	391M
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