Financials STMicroelectronics N.V. Borsa Italiana

Equities

STM

NL0000226223

Semiconductors

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-04-26 am EDT			5-day change	1st Jan Change
38.68 ^EUR	-2.39%		+5.35%	-14.45%

Apr. 26	Mib up; US stocks up after PCE data	AN
Apr. 26	STMICRO : UBS reaffirms its Buy rating	ZD

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	23,969	32,795	44,697	32,103	45,082	37,161	-	-
Enterprise Value (EV) ¹	23,297	31,696	43,720	30,302	41,926	34,109	32,307	30,323
P/E ratio	23.6 x	30.8 x	22.8 x	8.43 x	11.2 x	17.1 x	11.8 x	10.1 x
Yield	0.89%	0.45%	0.49%	0.68%	0.48%	0.68%	0.72%	0.72%
Capitalization / Revenue	2.51 x	3.21 x	3.5 x	1.99 x	2.61 x	2.57 x	2.16 x	1.98 x
EV / Revenue	2.44 x	3.1 x	3.43 x	1.88 x	2.43 x	2.36 x	1.88 x	1.62 x
EV / EBITDA	11.3 x	14 x	12.6 x	5.36 x	6.79 x	8.53 x	5.96 x	4.67 x
EV / FCF	46.9 x	50.6 x	39 x	19 x	23.6 x	18.9 x	15 x	11 x
FCF Yield	2.13%	1.98%	2.56%	5.25%	4.23%	5.28%	6.68%	9.06%
Price to Book	3.4 x	3.96 x	4.85 x	2.51 x	2.82 x	2.06 x	1.8 x	1.54 x
Nbr of stocks (in thousands)	891,870	886,740	906,449	909,136	902,747	900,267	-	-
Reference price ²	26.87	36.98	49.31	35.31	49.94	41.28	41.28	41.28
Announcement Date	1/23/20	1/28/21	1/27/22	1/26/23	1/25/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	9,556	10,219	12,761	16,128	17,286	14,442	17,203	18,735
EBITDA ¹	2,062	2,257	3,466	5,654	6,172	4,000	5,421	6,492
EBIT ¹	1,208	1,334	2,421	4,439	4,611	2,416	3,671	4,480
Operating Margin	12.64%	13.05%	18.97%	27.52%	26.67%	16.73%	21.34%	23.91%
Earnings before Tax (EBT) ¹	1,189	1,267	2,337	4,486	4,763	2,426	4,031	4,364
Net income ¹	1,032	1,106	2,000	3,960	4,211	2,037	3,426	3,656
Net margin	10.8%	10.82%	15.67%	24.55%	24.36%	14.1%	19.91%	19.51%
EPS ²	1.140	1.200	2.160	4.190	4.460	2.416	3.496	4.104
Free Cash Flow ¹	497	627	1,120	1,591	1,774	1,802	2,159	2,747
FCF margin	5.2%	6.14%	8.78%	9.86%	10.26%	12.48%	12.55%	14.66%
FCF Conversion (EBITDA)	24.1%	27.78%	32.31%	28.14%	28.74%	45.06%	39.82%	42.32%
FCF Conversion (Net income)	48.16%	56.69%	56%	40.18%	42.13%	88.48%	63.02%	75.14%
Dividend per Share ²	0.2400	0.1680	0.2400	0.2400	0.2400	0.2796	0.2971	0.2977
Announcement Date	1/23/20	1/28/21	1/27/22	1/26/23	1/25/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1
Net sales ¹	5,307	4,318	5,901	6,008	3,197	3,556	6,753	3,546	3,837	7,383	4,305	4,424	8,729	4,247	4,326	8,573	4,431	4,282	8,713	3,465	3,398	-	3,692	4,197	-	3,771
EBITDA ¹	-	-	-	-	870	1,156	-	1,160	1,294	-	1,584	1,618	-	1,569	1,529	-	1,637	1,437	-	981	804.9	-	963.4	1,230	-	1,265
EBIT ¹	799	346	988	929	606	889	1,494	877	1,004	1,876	1,272	1,287	2,559	1,201	1,146	2,347	1,241	1,023	2,264	551	410	1,201	507.5	777.2	2,278	617.6
Operating Margin	15.06%	8.01%	16.74%	15.46%	18.96%	25%	22.12%	24.73%	26.17%	25.41%	29.55%	29.09%	29.32%	28.28%	26.49%	27.38%	28.01%	23.89%	25.98%	15.9%	12.07%	-	13.75%	18.52%	-	16.38%
Earnings before Tax (EBT) ¹	785	328	939	910	549	878	1,427	875	1,008	1,883	1,286	1,317	2,603	1,233	1,174	2,408	1,280	1,075	2,355	606	398	1,248	608	814.5	2,325	705.5
Net income ¹	694	282	824	776	474	750	1,224	747	867	1,614	1,099	1,248	2,347	1,044	1,001	2,045	1,090	1,076	2,166	513	337.5	1,057	516.5	692	1,972	599.5
Net margin	13.08%	6.53%	13.96%	12.92%	14.83%	21.09%	18.13%	21.07%	22.6%	21.86%	25.53%	28.21%	26.89%	24.58%	23.14%	23.85%	24.6%	25.13%	24.86%	14.81%	9.93%	-	13.99%	16.49%	-	15.9%
EPS ²	-	0.3100	0.8900	0.8400	0.5100	0.8200	1.320	0.7900	0.9200	1.700	1.160	1.320	2.480	1.100	1.060	2.160	1.160	1.140	2.300	0.5400	0.4235	1.120	0.5944	0.7895	2.090	0.5821
Dividend per Share ²	-	-	-	-	0.0600	0.0600	-	0.0600	0.0600	-	0.0600	0.0600	-	-	0.0600	-	0.0600	0.0600	-	0.0700	0.0750	-	0.0750	0.0750	-	0.0750
Announcement Date	1/23/20	7/23/20	1/28/21	7/29/21	10/28/21	1/27/22	1/27/22	4/27/22	7/28/22	7/28/22	10/27/22	1/26/23	1/26/23	4/27/23	7/27/23	7/27/23	10/26/23	1/25/24	1/25/24	4/25/24	-	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	672	1,099	977	1,801	3,156	3,052	4,854	6,838
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	497	627	1,120	1,591	1,774	1,802	2,159	2,747
ROE (net income / shareholders' equity)	15.4%	14.3%	22.7%	36.2%	28.6%	11.3%	15.3%	16.9%
ROA (Net income/ Total Assets)	9.08%	8.4%	13.3%	22.3%	19%	7.61%	10.2%	10.9%
Assets ¹	11,368	13,161	14,984	17,761	22,218	26,775	33,529	33,599
Book Value Per Share ²	7.900	9.330	10.20	14.00	17.70	20.10	23.00	26.80
Cash Flow per Share ²	2.070	2.280	3.310	5.500	6.350	4.070	5.470	6.340
Capex ¹	1,174	1,280	1,828	3,520	4,111	2,481	2,863	2,918
Capex / Sales	12.29%	12.53%	14.32%	21.83%	23.78%	17.18%	16.65%	15.57%
Announcement Date	1/23/20	1/28/21	1/27/22	1/26/23	1/25/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for STMicroelectronics N.V.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

41.28 USD

Average target price

54.29 USD

Spread / Average Target

+31.53%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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