Company Valuation: BT Group plc

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 18,086 14,344 10,700 16,251 20,648 20,220 - -
Change - -20.69% -25.4% 51.88% 27.06% -2.08% - -
Enterprise Value (EV) 1 36,095 33,203 30,179 36,067 40,614 38,688 38,075 37,470
Change - -8.01% -9.11% 19.51% 12.61% -4.74% -1.58% -1.59%
P/E 14.1x 7.71x 12.8x 15.6x 19.5x 14.9x 14x 13.5x
PBR 1.18x 0.98x 0.86x 1.28x 1.67x 1.56x 1.49x 1.43x
PEG - 0.2x -0.2x 0.7x 10.34x 0.5x 2.28x 3.77x
Capitalization / Revenue 0.87x 0.69x 0.51x 0.8x 1.05x 1.09x 1.08x 1.09x
EV / Revenue 1.73x 1.61x 1.45x 1.77x 2.07x 2.09x 2.04x 2.03x
EV / EBITDA 4.76x 4.19x 3.73x 4.39x 4.93x 4.71x 4.62x 4.52x
EV / EBIT 11.4x 10.5x 9.43x 11x 12.1x 11.4x 10.9x 10.3x
EV / FCF 27.7x 25x 23.6x 22.6x 26.9x 19.1x 15.9x 14x
FCF Yield 3.61% 4% 4.24% 4.43% 3.71% 5.24% 6.28% 7.15%
Dividend per Share 2 0.077 0.077 0.08 0.0816 0.0832 0.0858 0.0896 0.0976
Rate of return 4.23% 5.28% 7.3% 4.92% 3.95% 4.18% 4.37% 4.75%
EPS 2 0.129 0.189 0.086 0.106 0.108 0.1381 0.1465 0.1518
Distribution rate 59.7% 40.7% 93% 77% 77% 62.2% 61.1% 64.3%
Net sales 1 20,845 20,669 20,835 20,370 19,646 18,542 18,642 18,496
EBITDA 1 7,577 7,928 8,100 8,209 8,230 8,207 8,234 8,296
EBIT 1 3,172 3,175 3,201 3,276 3,355 3,388 3,498 3,629
Net income 1 1,274 1,905 855 1,054 1,077 1,387 1,493 1,603
Net Debt 1 18,009 18,859 19,479 19,816 19,966 18,468 17,856 17,250
Reference price 2 1.822 1.458 1.096 1.658 2.105 2.052 2.052 2.052
Nbr of stocks (in thousands) 9,926,432 9,837,816 9,758,030 9,798,437 9,809,240 9,853,621 - -
Announcement Date 5/12/22 5/18/23 5/16/24 5/22/25 5/21/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.07x2.59x6.86x5.61% 209B
13.8x2.18x5.02x3.97% 158B
13.89x1.86x8x3.04% 89.32B
11.63x1.78x4.5x2.81% 69.33B
15.58x2.72x8.51x4.98% 58.97B
24.03x5.42x19.8x4.54% 57.21B
15.66x2.76x6.18x4.43% 50.67B
11.58x1.75x5.3x5.07% 47.79B
23.39x3.2x7.03x4.29% 40.06B
Average 15.63x 2.70x 7.91x 4.31% 86.69B
Weighted average by Cap. 14.25x 2.56x 7.35x 4.43%

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