Company Valuation: Telecom Italia S.p.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 8,279 9,107 4,546 6,305 5,499 14,015 14,015 -
Change - 10% -50.08% 38.68% -12.78% 154.85% 0% -
Enterprise Value (EV) 1 31,605 31,294 29,910 31,961 15,625 23,409 22,277 22,129
Change - -0.98% -4.42% 6.86% -51.11% 49.82% -4.84% -0.66%
P/E ratio 1.14x -1.09x -1.55x -4.2x -8.22x 1,657x 32.1x 19.8x
PBR 0.3x 0.38x 0.31x 0.46x 0.44x 1.13x 0.94x 0.93x
PEG - 0x 0x 0.1x 0.1x -16x 0x 0.3x
Capitalization / Revenue 0.52x 0.59x 0.29x 0.39x 0.38x 1.02x 0.99x 0.96x
EV / Revenue 2x 2.04x 1.89x 1.96x 1.08x 1.7x 1.57x 1.52x
EV / EBITDA 4.69x 6.16x 5.59x 5.6x 3.24x 5.2x 4.84x 4.56x
EV / EBIT 15x -8.87x 49.4x 38.2x 10.1x 17.4x 13.3x 11.6x
EV / FCF 10.3x 96.9x -21.2x -841x 12x 35.4x 25.7x 19.6x
FCF Yield 9.73% 1.03% -4.71% -0.12% 8.3% 2.82% 3.89% 5.09%
Dividend per Share 2 0.01 - - - - 0.0131 0.0179 0.0233
Rate of return 2.65% - - - - 2.08% 2.84% 3.7%
EPS 2 0.33 -0.4 -0.14 -0.07 -0.03 0.00038 0.0196 0.0318
Distribution rate 3.03% - - - - 3,450% 91.2% 73.3%
Net sales 1 15,805 15,316 15,788 16,296 14,442 13,735 14,150 14,546
EBITDA 1 6,739 5,080 5,347 5,710 4,825 4,504 4,598 4,852
EBIT 1 2,104 -3,529 606 836 1,545 1,348 1,680 1,911
Net income 1 7,224 -8,652 -2,925 -1,441 -610 18.76 362.1 552.9
Net Debt 1 23,326 22,187 25,364 25,656 10,126 9,394 8,262 8,114
Reference price 2 0.3774 0.4342 0.2163 0.2942 0.2466 0.6296 0.6296 0.6296
Nbr of stocks (in thousands) 21,195,996 21,202,712 21,241,316 21,252,196 21,252,196 21,260,815 21,260,815 -
Announcement Date 2/24/21 3/2/22 3/15/23 3/6/24 3/5/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
1080.34x1.7x5.23x2.09% 16.56B
10.49x1.22x3.77x7.13% 221B
10.88x2.51x6.93x5.58% 207B
16.21x2.32x6.26x3.31% 171B
12.15x1.72x7.19x3.47% 81.83B
11.35x0.79x2.89x6.51% 73.03B
14.02x1.99x5.01x2.57% 70.69B
29.41x6.19x22.37x3.73% 65.02B
14.83x2.77x8.73x4.96% 59.29B
29.94x1.85x6.02x4.47% 54.16B
Average 122.96x 2.31x 7.44x 4.38% 101.87B
Weighted average by Cap. 31.86x 2.18x 6.75x 4.95%

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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