Financials Operadora de Sites Mexicanos, S.A.B. de C.V.

Equities

SITES1 A-1

MX01SI0C0002

Wireless Telecommunications Services

End-of-day quote Mexican S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
19.75 MXN +1.13% Intraday chart for Operadora de Sites Mexicanos, S.A.B. de C.V. +5.05% -17.50%

Valuation

Fiscal Period: December 2022 2023 2024 2025
Capitalization 1 62,079 62,792 62,792 -
Enterprise Value (EV) 1 62,079 113,414 88,085 86,034
P/E ratio 128 x 95.8 x 58.9 x 46.9 x
Yield - 2.72% 2.91% 3.43%
Capitalization / Revenue 5.71 x 6.42 x 4.93 x 4.67 x
EV / Revenue 5.71 x 9.54 x 6.92 x 6.39 x
EV / EBITDA 6.17 x 10.1 x 7.24 x 6.68 x
EV / FCF - 25.7 x 15.1 x 16.6 x
FCF Yield - 3.89% 6.63% 6.04%
Price to Book - 2.71 x 1.53 x 1.55 x
Nbr of stocks (in thousands) 3,238,317 3,179,324 3,179,324 -
Reference price 2 19.17 19.75 19.75 19.75
Announcement Date 2/8/23 2/20/24 - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2021 2022 2023 2024 2025
Net sales 1 - 10,867 11,888 12,733 13,456
EBITDA 1 - 10,065 11,257 12,175 12,874
EBIT 1 - 4,197 4,737 6,548 6,963
Operating Margin - 38.62% 39.85% 51.43% 51.75%
Earnings before Tax (EBT) 1 - 791.8 1,580 - -
Net income 1 48.28 106 410.1 1,086 1,363
Net margin - 0.98% 3.45% 8.53% 10.13%
EPS 2 7.810 0.1500 0.2500 0.3352 0.4208
Free Cash Flow 1 - - 4,411 5,838 5,194
FCF margin - - 37.11% 45.85% 38.6%
FCF Conversion (EBITDA) - - 39.18% 47.95% 40.34%
FCF Conversion (Net income) - - 1,075.51% 537.74% 381.14%
Dividend per Share 2 - - 0.5380 0.5738 0.6766
Announcement Date 2/17/22 2/8/23 2/20/24 - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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 2,566 2,749 2,679 2,873 2,836 2,948 2,988 3,105 - - - -
EBITDA 1 2,426 2,490 2,532 2,618 2,697 2,768 2,840 2,952 - - - -
EBIT 1 924.7 1,093 1,027 1,153 1,085 1,144 1,185 1,322 - - - -
Operating Margin 36.04% 39.75% 38.32% 40.15% 38.27% 38.81% 39.68% 42.57% - - - -
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income 1 -34.8 17.1 -38.54 162.3 -28.01 162.3 85.28 190.6 - - - -
Net margin -1.36% 0.62% -1.44% 5.65% -0.99% 5.51% 2.85% 6.14% - - - -
EPS 2 -0.0100 0.0400 -0.0119 0.0800 -0.0200 0.0800 0.0600 0.0900 0.0600 0.0800 0.0500 0.1200
Dividend per Share 2 - - - - - - - 0.5000 - - - -
Announcement Date 4/28/22 7/27/22 10/27/22 2/8/23 5/2/23 7/28/23 10/24/23 2/20/24 - - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2021 2022 2023 2024 2025
Net Debt 1 - - 37,132 25,293 23,243
Net Cash position 1 - - - - -
Leverage (Debt/EBITDA) - - 3.298 x 2.078 x 1.805 x
Free Cash Flow 1 - - 4,411 5,838 5,194
ROE (net income / shareholders' equity) - - 1.48% 5.23% 5.15%
ROA (Net income/ Total Assets) - - 0.39% 3.7% 3.1%
Assets 1 - - 104,095 29,342 43,946
Book Value Per Share 2 - - 8.820 12.90 12.70
Cash Flow per Share 2 - - 2.220 - -
Capex 1 - - 2,668 2,290 3,163
Capex / Sales - - 22.44% 17.98% 23.51%
Announcement Date 2/17/22 2/8/23 2/20/24 - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
3
Last Close Price
19.75 MXN
Average target price
19.13 MXN
Spread / Average Target
-3.12%
Consensus
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