Company Valuation: Telecom Egypt Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 28,628 42,847 64,271 56,504 112,274 160,294 - -
Change - 49.67% 50% -12.08% 98.7% 42.77% - -
Enterprise Value (EV) 1 41,965 66,862 102,635 130,541 186,241 223,550 212,583 160,294
Change - 59.33% 53.5% 27.19% 42.67% 20.03% -4.91% -24.6%
P/E ratio 3.86x 5.44x 6.61x 6.91x 5.51x 6.55x 4.87x 3.96x
PBR 0.65x - 1.26x 1.23x 1.76x 1.96x 1.54x 1.68x
PEG - 0.87x 0.3x -0.4x 0x 0.3x 0.1x 0.2x
Capitalization / Revenue 0.77x 0.97x 1.13x 0.69x 1.05x 1.37x 1.26x 1.17x
EV / Revenue 1.13x 1.51x 1.81x 1.59x 1.74x 1.91x 1.67x 1.17x
EV / EBITDA 2.96x 3.84x 4.53x 4.04x 3.92x 4.4x 3.85x 2.67x
EV / EBIT 5x 6.66x 8.37x 7.39x 6.64x 7.04x 5.92x 4.06x
EV / FCF 17.7x - -10.8x -9.59x - 428x 29.6x 15.1x
FCF Yield 5.66% - -9.22% -10.4% - 0.23% 3.38% 6.63%
Dividend per Share 2 1 - 1.5 1.5 - 1.5 2.7 3.8
Rate of return 5.96% - 3.98% 4.53% - 1.6% 2.88% 4.05%
EPS 2 4.34 4.61 5.7 4.79 11.93 14.34 19.27 23.72
Distribution rate 23% - 26.3% 31.3% - 10.5% 14% 16%
Net sales 1 37,088 44,273 56,679 82,037 107,030 116,855 127,105 137,160
EBITDA 1 14,193 17,427 22,662 32,297 47,495 50,782 55,170 59,974
EBIT 1 8,386 10,037 12,266 17,658 28,042 31,756 35,902 39,516
Net income 1 8,417 9,182 11,466 10,098 22,555 26,321 34,120 43,174
Net Debt 1 13,338 24,015 38,364 74,037 73,967 63,256 52,289 -
Reference price 2 16.77 25.10 37.65 33.10 65.77 93.90 93.90 93.90
Nbr of stocks (in thousands) 1,707,072 1,707,072 1,707,072 1,707,072 1,707,072 1,707,072 - -
Announcement Date 3/3/22 3/6/23 3/4/24 2/26/25 2/26/26 - - -
1EGP in Million2EGP
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
6.55x1.91x4.4x1.6% 3.02B
11.48x1.35x4.19x6.75% 227B
9.6x2.39x6.51x6.11% 192B
15.55x2.28x6.01x3.56% 175B
16.35x2.2x5.56x2.2% 82.13B
11.98x1.72x7.06x3.48% 78.34B
12.44x0.8x3.05x6.15% 74.67B
28.96x5.98x21.66x3.86% 63.09B
15.16x2.61x8.21x5.19% 56.7B
15.99x1.94x6.08x4.37% 56B
Average 14.41x 2.32x 7.27x 4.33% 100.91B
Weighted average by Cap. 13.87x 2.16x 6.62x 4.99%

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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