Financials Kuwait Telecommunications Company K.S.C.P.

Equities

STC

KW0EQB010084

Wireless Telecommunications Services

End-of-day quote Kuwait S.E. 06:00:00 2024-04-24 pm EDT 5-day change 1st Jan Change
0.544 KWD +1.12% Intraday chart for Kuwait Telecommunications Company K.S.C.P. +1.49% -3.37%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 393.5 425.5 427 584.3 562.3 543.3 - -
Enterprise Value (EV) 1 393.5 360.4 366.8 528.3 562.3 543.3 543.3 543.3
P/E ratio 9.06 x 13.3 x 9.5 x 17.7 x 17.1 x 18.1 x 13.6 x 13.6 x
Yield 6.35% 7.04% 7.02% 5.13% - 5.51% 7.35% 7.35%
Capitalization / Revenue 1.34 x 1.5 x 1.44 x 1.74 x 1.6 x 1.53 x 1.5 x 1.46 x
EV / Revenue 1.34 x 1.5 x 1.44 x 1.74 x 1.6 x 1.53 x 1.5 x 1.46 x
EV / EBITDA 4.77 x 5.15 x 5.4 x 7.17 x 6.74 x 6.39 x 6.17 x 5.97 x
EV / FCF 11 x 10.9 x 10.4 x 10.7 x 7.77 x 13.3 x 10.9 x 9.88 x
FCF Yield 9.11% 9.14% 9.65% 9.32% 12.9% 7.55% 9.2% 10.1%
Price to Book 1.83 x 1.94 x 1.82 x 2.42 x 2.31 x 2.18 x 2.09 x 2.01 x
Nbr of stocks (in thousands) 998,734 998,734 998,734 998,734 998,734 998,734 - -
Reference price 2 0.3940 0.4260 0.4275 0.5850 0.5630 0.5440 0.5440 0.5440
Announcement Date 2/4/20 2/4/21 2/3/22 2/8/23 2/6/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 293.7 283.2 296.3 336.4 351.4 354 362 371
EBITDA 1 82.55 82.55 79.02 81.46 83.37 85 88 91
EBIT 1 44.81 33.78 33.04 30.62 33.23 37 40 46
Operating Margin 15.26% 11.93% 11.15% 9.1% 9.46% 10.45% 11.05% 12.4%
Earnings before Tax (EBT) 1 45.98 34 47.05 34.96 34.56 36 40 47
Net income 1 43.6 32.09 44.87 33.21 32.68 35 38 44
Net margin 14.85% 11.33% 15.14% 9.87% 9.3% 9.89% 10.5% 11.86%
EPS 2 0.0435 0.0320 0.0450 0.0330 0.0330 0.0300 0.0400 0.0400
Free Cash Flow 1 35.85 38.9 41.2 54.46 72.39 41 50 55
FCF margin 12.2% 13.74% 13.9% 16.19% 20.6% 11.58% 13.81% 14.82%
FCF Conversion (EBITDA) 43.42% 47.12% 52.14% 66.86% 86.84% 48.24% 56.82% 60.44%
FCF Conversion (Net income) 82.21% 121.19% 91.82% 163.99% 221.54% 117.14% 131.58% 125%
Dividend per Share 2 0.0250 0.0300 0.0300 0.0300 - 0.0300 0.0400 0.0400
Announcement Date 2/4/20 2/4/21 2/3/22 2/8/23 2/6/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1
Net sales 74.37 82.52 76.85 76.94 95.61 86.97 86.62 87.95 85.27 91.54 -
EBITDA 1 18.61 22.44 20.13 19.74 21.87 19.72 21.43 20.33 20.65 21.86 22
EBIT 1 - - 7.829 6.96 8.278 - 8.435 8.511 8.512 8.68 10
Operating Margin - - 10.19% 9.05% 8.66% - 9.74% 9.68% 9.98% 9.48% -
Earnings before Tax (EBT) - - - - - - - - - - -
Net income 1 7.284 21.09 - - - - 8.249 7.805 8.327 8.297 9
Net margin 9.79% 25.56% - - - - 9.52% 8.87% 9.77% 9.06% -
EPS - - - - - - - - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 10/28/21 2/3/22 4/26/22 7/25/22 11/1/22 2/8/23 5/4/23 7/18/23 10/23/23 2/6/24 -
1KWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - 65 60.2 56 - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 35.8 38.9 41.2 54.5 72.4 41 50 55
ROE (net income / shareholders' equity) 21.4% 14.7% 20.4% 13.9% 13.5% 14% 15.1% 16.9%
ROA (Net income/ Total Assets) 12.5% 8.39% 12.2% 8.12% 7.49% 7.9% 8.6% 9.9%
Assets 1 348.2 382.7 367.4 409.1 436 443 441.9 444.4
Book Value Per Share 2 0.2200 0.2200 0.2400 0.2400 0.2400 0.2500 0.2600 0.2700
Cash Flow per Share - - - - - - - -
Capex 1 58.5 26.2 27.4 18.5 19.9 40 33 32
Capex / Sales 19.93% 9.25% 9.23% 5.5% 5.67% 11.3% 9.12% 8.63%
Announcement Date 2/4/20 2/4/21 2/3/22 2/8/23 2/6/24 - - -
1KWD in Million2KWD
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
0.544 KWD
Average target price
0.615 KWD
Spread / Average Target
+13.05%
Consensus

Quarterly revenue - Rate of surprise

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