MOBILE TELECOMMUNICATIONS COMPANY Financials MOBILE TELECOMMUNICATIONS COMPANY Kuwait S.E.
Equities
ZAIN
KW0EQ0601058
Wireless Telecommunications Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 576 KWF | +2.67% |
|
+0.52% | -0.69% |
| Apr. 19 | SPIE Closes Acquisition of Majority Stake in Germany's ICG Group | MT |
| Apr. 12 | UK Competition Regulator Sets Timeline for Vodafone, CK Hutchison JV Probe | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,596 | 2,622 | 2,575 | 2,436 | 2,194 | 2,099 | - | - |
| Enterprise Value (EV) 1 | 3,877 | 3,598 | 3,831 | 3,667 | 2,194 | 3,238 | 3,223 | 3,118 |
| P/E ratio | 12 x | 14.1 x | 13.8 x | 12.5 x | 10.1 x | 9.74 x | 8.68 x | 8.06 x |
| Yield | 5.5% | 5.45% | 5.55% | 6.22% | - | 7.63% | 7.88% | 8.98% |
| Capitalization / Revenue | 1.56 x | 1.61 x | 1.7 x | 1.41 x | 1.15 x | 1.05 x | 1.01 x | 0.98 x |
| EV / Revenue | 2.33 x | 2.21 x | 2.52 x | 2.12 x | 1.15 x | 1.61 x | 1.55 x | 1.45 x |
| EV / EBITDA | 5.32 x | 5.34 x | 6.1 x | 5.45 x | 3.11 x | 4.41 x | 4.22 x | 3.94 x |
| EV / FCF | 11.6 x | 11.5 x | 58.6 x | 15.4 x | - | 23 x | 16 x | 11 x |
| FCF Yield | 8.66% | 8.68% | 1.71% | 6.51% | - | 4.35% | 6.24% | 9.08% |
| Price to Book | 2 x | 1.99 x | 2.16 x | 1.98 x | - | 1.64 x | 1.16 x | 1.1 x |
| Nbr of stocks (in thousands) | 4,327,059 | 4,327,059 | 4,327,059 | 4,327,059 | 4,327,059 | 4,327,059 | - | - |
| Reference price 2 | 0.6000 | 0.6060 | 0.5950 | 0.5630 | 0.5070 | 0.4850 | 0.4850 | 0.4850 |
| Announcement Date | 2/13/20 | 2/25/21 | 2/10/22 | 3/14/23 | 3/7/24 | - | - | - |
1KWD in Million2KWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,661 | 1,627 | 1,517 | 1,728 | 1,909 | 2,008 | 2,077 | 2,151 |
| EBITDA 1 | 728.4 | 673.4 | 627.8 | 673 | 704.8 | 733.5 | 763.4 | 790.5 |
| EBIT 1 | 352.5 | 312.6 | 271.5 | 402.2 | 359.4 | 382.4 | 408.8 | 445 |
| Operating Margin | 21.22% | 19.22% | 17.9% | 23.27% | 18.83% | 19.04% | 19.68% | 20.69% |
| Earnings before Tax (EBT) 1 | 283.6 | 242.3 | 214.8 | 245.9 | 331.8 | 309.6 | 340.7 | 370.2 |
| Net income 1 | 216.9 | 185.2 | 185.7 | 196 | 215.5 | 228 | 241.5 | 271.7 |
| Net margin | 13.06% | 11.38% | 12.24% | 11.34% | 11.29% | 11.36% | 11.63% | 12.63% |
| EPS 2 | 0.0500 | 0.0430 | 0.0430 | 0.0450 | 0.0500 | 0.0498 | 0.0559 | 0.0602 |
| Free Cash Flow 1 | 335.6 | 312.4 | 65.35 | 238.8 | - | 141 | 201 | 283 |
| FCF margin | 20.21% | 19.2% | 4.31% | 13.82% | - | 7.02% | 9.68% | 13.15% |
| FCF Conversion (EBITDA) | 46.07% | 46.39% | 10.41% | 35.48% | - | 19.22% | 26.33% | 35.8% |
| FCF Conversion (Net income) | 154.7% | 168.7% | 35.18% | 121.84% | - | 61.83% | 83.24% | 104.17% |
| Dividend per Share 2 | 0.0330 | 0.0330 | 0.0330 | 0.0350 | - | 0.0370 | 0.0382 | 0.0436 |
| Announcement Date | 2/13/20 | 2/25/21 | 2/10/22 | 3/14/23 | 3/7/24 | - | - | - |
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 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 385.2 | 381.6 | 407.6 | 421.1 | 441.1 | 458.3 | 468.4 | 461.4 | 485.1 | 494.1 | 486 | 484.4 | 519.1 | 535.6 |
| EBITDA 1 | 167.6 | 149.8 | 153.6 | 166.4 | - | 182.1 | 165.4 | 182.2 | 182.9 | 174.4 | 174 | - | - | - |
| EBIT 1 | - | 58.78 | 70.73 | 81.42 | - | - | 85.41 | 98.16 | 100.5 | - | 88 | - | - | - |
| Operating Margin | - | 15.4% | 17.35% | 19.34% | - | - | 18.24% | 21.28% | 20.72% | - | 18.11% | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | 74.07 | - | - | - | - | - | - |
| Net income | - | 50.33 | - | 50.41 | - | - | - | 57.49 | 60.49 | - | - | - | - | - |
| Net margin | - | 13.19% | - | 11.97% | - | - | - | 12.46% | 12.47% | - | - | - | - | - |
| EPS 2 | 0.0110 | 0.0120 | 0.0110 | 0.0120 | 0.0130 | 0.0100 | 0.0130 | 0.0130 | 0.0140 | 0.0100 | 0.0100 | 0.0100 | 0.0200 | 0.0200 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/11/21 | 2/10/22 | 4/24/22 | 7/18/22 | 11/9/22 | 3/14/23 | 5/10/23 | 8/8/23 | 11/14/23 | 3/7/24 | - | - | - | - |
1KWD in Million2KWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,280 | 976 | 1,256 | 1,231 | - | 1,140 | 1,125 | 1,019 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.758 x | 1.449 x | 2.001 x | 1.829 x | - | 1.554 x | 1.473 x | 1.289 x |
| Free Cash Flow 1 | 336 | 312 | 65.3 | 239 | - | 141 | 201 | 283 |
| ROE (net income / shareholders' equity) | 16.5% | 14.2% | 14.8% | 16.2% | - | 16.4% | 16.7% | 17.7% |
| ROA (Net income/ Total Assets) | 4.59% | 3.84% | 3.83% | 4.02% | - | 4.45% | 4.6% | 5.3% |
| Assets 1 | 4,727 | 4,824 | 4,855 | 4,875 | - | 5,125 | 5,250 | 5,126 |
| Book Value Per Share 2 | 0.3000 | 0.3000 | 0.2700 | 0.2800 | - | 0.3000 | 0.4200 | 0.4400 |
| Cash Flow per Share 2 | 0.1500 | 0.1400 | 0.1000 | 0.1200 | - | 0.1600 | 0.1500 | 0.1500 |
| Capex 1 | 316 | 307 | 346 | 260 | - | 333 | 333 | 335 |
| Capex / Sales | 19.04% | 18.84% | 22.81% | 15.06% | - | 16.6% | 16.02% | 15.56% |
| Announcement Date | 2/13/20 | 2/25/21 | 2/10/22 | 3/14/23 | 3/7/24 | - | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
0.485
KWD
Average target price
0.6207
KWD
Spread / Average Target
+27.97%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.26% | 193B | |
| -0.18% | 120B | |
| +23.66% | 72.46B | |
| -2.36% | 57.97B | |
| +24.90% | 23.92B | |
| +9.95% | 16.07B | |
| -10.14% | 15.66B | |
| +4.97% | 9.6B | |
| -15.58% | 9.2B |
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