Financials NATIONAL MOBILE TELECOMMUNICATIONS CO. Kuwait S.E.

Equities

OOREDOO

KW0EQ0601132

Wireless Telecommunications Services

End-of-day quote Kuwait S.E. 06:00:00 2020-02-19 pm EST 5-day change 1st Jan Change
778 KWF +1.17% Intraday chart for NATIONAL MOBILE TELECOMMUNICATIONS CO. +0.13% +0.52%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 415 314.2 312.7 580.8 609.9 515.2 - -
Enterprise Value (EV) 1 415 314.2 312.7 580.8 609.9 515.2 515.2 515.2
P/E ratio 13.8 x 89.6 x 16.4 x 14.7 x 8.39 x 7.91 x 7.34 x 6.85 x
Yield 6.04% 2.39% 5.61% - - 9.73% 10.7% 11.7%
Capitalization / Revenue 0.66 x 0.53 x 0.52 x 0.94 x 0.93 x 0.76 x 0.73 x 0.71 x
EV / Revenue 0.66 x 0.53 x 0.52 x 0.94 x 0.93 x 0.76 x 0.73 x 0.71 x
EV / EBITDA 1.78 x 1.74 x 1.55 x 2.68 x 2.1 x 1.99 x 1.92 x 1.86 x
EV / FCF 4.48 x 2.82 x 3.22 x 5.48 x 4 x 4.73 x 4.44 x 4.19 x
FCF Yield 22.3% 35.5% 31.1% 18.3% 25% 21.2% 22.5% 23.9%
Price to Book 0.73 x 0.57 x 0.57 x 1.06 x 1.03 x 0.73 x 0.7 x 0.68 x
Nbr of stocks (in thousands) 501,162 501,162 501,162 501,162 501,162 501,162 - -
Reference price 2 0.8280 0.6270 0.6240 1.159 1.217 1.028 1.028 1.028
Announcement Date 2/6/20 2/11/21 2/13/22 2/8/23 2/7/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 633.5 592.8 601.7 620.3 653.2 682 703 724
EBITDA 1 232.6 181.1 202.3 217.1 290.3 259 268 277
EBIT 1 67.66 34.8 58.71 84.32 155.1 126 136 146
Operating Margin 10.68% 5.87% 9.76% 13.59% 23.74% 18.48% 19.35% 20.17%
Earnings before Tax (EBT) 1 51.19 22.42 39.29 66.52 114.4 102 112 123
Net income 1 30.1 3.39 19.25 39.46 72.82 63 70 76
Net margin 4.75% 0.57% 3.2% 6.36% 11.15% 9.24% 9.96% 10.5%
EPS 2 0.0600 0.007000 0.0380 0.0790 0.1450 0.1300 0.1400 0.1500
Free Cash Flow 1 92.59 111.4 97.24 106 152.6 109 116 123
FCF margin 14.62% 18.79% 16.16% 17.09% 23.36% 15.98% 16.5% 16.99%
FCF Conversion (EBITDA) 39.81% 61.53% 48.06% 48.82% 52.56% 42.08% 43.28% 44.4%
FCF Conversion (Net income) 307.61% 3,286.52% 505.13% 268.63% 209.57% 173.02% 165.71% 161.84%
Dividend per Share 2 0.0500 0.0150 0.0350 - - 0.1000 0.1100 0.1200
Announcement Date 2/6/20 2/11/21 2/13/22 2/8/23 2/7/24 - - -
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 2024 Q1
Net sales 1 153.8 153.3 152.9 153.2 158.7 155.5 155.3 162.9 167.8 165
EBITDA 1 54.37 47.7 53.64 54.14 58.82 50.52 55.87 58.37 65.12 62
EBIT 1 - 13.15 20.75 21.34 26.42 15.81 24.08 26.12 31.68 29
Operating Margin - 8.58% 13.57% 13.93% 16.65% 10.16% 15.51% 16.04% 18.88% 17.58%
Earnings before Tax (EBT) - - - - - - - - - -
Net income 1 6.456 5.829 8.429 12.37 11.99 6.677 53.04 11.33 16.84 13
Net margin 4.2% 3.8% 5.51% 8.08% 7.55% 4.29% 34.16% 6.96% 10.03% 7.88%
EPS - - - - - - - 0.0230 - -
Dividend per Share - - - - - - - - - -
Announcement Date 10/27/21 2/13/22 4/25/22 7/27/22 10/25/22 2/8/23 4/18/23 7/26/23 10/24/23 -
1KWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 92.6 111 97.2 106 153 109 116 123
ROE (net income / shareholders' equity) 5.35% 0.6% 3% 7.27% 12.8% 9% 9.7% 10.3%
ROA (Net income/ Total Assets) 2.48% 0.27% 1.61% 3.34% 5.98% 5.1% 5.5% 5.8%
Assets 1 1,215 1,246 1,197 1,181 1,219 1,235 1,273 1,310
Book Value Per Share 2 1.140 1.100 1.100 1.090 1.180 1.410 1.460 1.510
Cash Flow per Share - - - - - - - -
Capex 1 101 104 78 84.6 97.1 105 104 103
Capex / Sales 15.98% 17.59% 12.96% 13.64% 14.86% 15.4% 14.79% 14.23%
Announcement Date 2/6/20 2/11/21 2/13/22 2/8/23 2/7/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
1.028 KWD
Average target price
1.45 KWD
Spread / Average Target
+41.05%
Consensus

Quarterly revenue - Rate of surprise

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