Company Valuation: Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 392,884 420,043 326,363 634,111 1,157,532 1,757,347 1,757,347 -
Change - 6.91% -22.3% 94.3% 82.54% 51.82% 0% -
Enterprise Value (EV) 1 810,317 892,929 803,281 1,064,751 1,493,213 2,055,284 2,047,204 2,020,905
Change - 10.19% -10.04% 32.55% 40.24% 37.64% -0.39% -1.28%
P/E ratio 9.21x 7.03x 5.25x 8.15x 7.42x 8.75x 8.36x 7.93x
PBR 0.65x 0.63x 0.47x 0.92x 1.45x 2.02x 1.79x 1.65x
PEG - 0.2x 0.5x 0.3x 0x 0.3x 1.81x 1.46x
Capitalization / Revenue 0.58x 0.6x 0.44x 0.75x 1.2x 1.77x 1.74x 1.7x
EV / Revenue 1.2x 1.28x 1.08x 1.25x 1.54x 2.07x 2.03x 1.96x
EV / EBITDA 3.59x 3.71x 3.24x 3.71x 4.11x 4.97x 4.85x 4.71x
EV / EBIT 9.55x 9.62x 7.36x 7.19x 6.68x 7.51x 7.44x 7.27x
EV / FCF -16.7x 10.6x 10.8x 12.3x 8.98x 9.4x 9.92x 9.35x
FCF Yield -6% 9.39% 9.28% 8.13% 11.1% 10.6% 10.1% 10.7%
Dividend per Share 2 20 15 - 44.7 - 142.2 154 170.3
Rate of return 5.26% 3.65% - 6.55% - 7.16% 7.76% 8.58%
EPS 2 41.25 58.56 64.53 83.73 171.8 226.8 237.3 250.2
Distribution rate 48.5% 25.6% - 53.4% - 62.7% 64.9% 68.1%
Net sales 1 673,048 700,120 746,669 849,372 967,478 991,399 1,009,124 1,031,844
EBITDA 1 225,882 240,771 247,946 287,164 363,401 413,396 422,041 428,896
EBIT 1 84,824 92,809 109,178 147,996 223,459 273,746 275,102 277,880
Net income 1 42,364 58,997 62,954 78,951 157,797 203,066 209,537 215,753
Net Debt 1 417,433 472,886 476,918 430,640 335,681 297,938 289,857 263,559
Reference price 2 380.00 411.50 339.00 682.00 1,274.00 1,984.00 1,984.00 1,984.00
Nbr of stocks (in thousands) 1,033,906 1,020,760 962,723 929,781 908,581 885,760 885,760 -
Announcement Date 2/25/21 2/24/22 2/23/23 2/22/24 2/25/25 - - -
1HUF in Million2HUF
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.75x2.07x4.97x7.16% 5.53B
10.44x1.22x3.76x7.16% 220B
10.53x2.46x6.8x5.77% 200B
16.12x2.31x6.24x3.33% 171B
12.15x1.72x7.19x3.47% 81.35B
11.33x0.77x2.8x6.53% 73.25B
13.39x1.93x4.86x2.69% 67.48B
28.46x6x21.71x3.86% 62.85B
14.81x2.76x8.71x4.97% 59.17B
28.7x1.8x5.86x4.67% 52.08B
Average 15.47x 2.31x 7.29x 4.96% 99.25B
Weighted average by Cap. 14.19x 2.14x 6.63x 5.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság