Company Valuation: Emirates Telecommunications Group Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 275,687 198,808 170,804 141,931 159,498 178,283 - -
Change - -27.89% -14.09% -16.9% 12.38% 11.78% - -
Enterprise Value (EV) 1 275,498 217,068 194,318 181,906 197,053 209,914 209,076 205,835
Change - -21.21% -10.48% -6.39% 8.33% 6.53% -0.4% -1.55%
P/E 29.6x 19.9x 16.6x 13.2x 11.1x 15x 13.6x 12.3x
PBR 7.37x 4.7x 4x 3.11x 3.08x 2.86x 2.92x 2.68x
PEG - 2.66x 6.36x 2.6x 0.3x -0.9x 1.3x 1.2x
Capitalization / Revenue 5.17x 3.79x 3.18x 2.4x 2.19x 2.29x 2.12x 2.01x
EV / Revenue 5.16x 4.14x 3.62x 3.07x 2.7x 2.69x 2.48x 2.32x
EV / EBITDA 10.5x 8.11x 7.41x 6.88x 6.1x 6.13x 5.72x 5.34x
EV / EBIT 21.5x 16.8x 15.1x 9.07x 8.49x 9.18x 8.63x 7.67x
EV / FCF 28.3x 19.6x 24.5x 14.9x 15.5x 17.8x 17.8x 13.4x
FCF Yield 3.54% 5.11% 4.07% 6.72% 6.44% 5.63% 5.61% 7.46%
Dividend per Share 2 0.8 0.8 0.8 0.83 0.9 0.9406 1.017 1.075
Rate of return 2.52% 3.5% 4.07% 5.09% 4.91% 4.59% 4.96% 5.25%
EPS 2 1.07 1.15 1.18 1.24 1.65 1.362 1.509 1.667
Distribution rate 74.8% 69.6% 67.8% 66.9% 54.5% 69% 67.4% 64.5%
Net sales 1 53,342 52,432 53,752 59,203 72,858 78,019 84,264 88,764
EBITDA 1 26,232 26,761 26,214 26,454 32,314 34,254 36,563 38,520
EBIT 1 12,792 12,924 12,832 20,061 23,222 22,856 24,222 26,834
Net income 1 9,317 10,007 10,305 10,752 14,360 12,382 13,056 14,251
Net Debt 1 -189 18,260 23,514 39,975 37,554 31,631 30,793 27,552
Reference price 2 31.70 22.86 19.64 16.32 18.34 20.50 20.50 20.50
Nbr of stocks (in thousands) 8,696,754 8,696,754 8,696,754 8,696,754 8,696,754 8,696,754 - -
Announcement Date 2/14/22 2/13/23 2/21/24 2/13/25 2/12/26 - - -
1AED in Million2AED
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.05x2.69x6.13x4.59% 48.54B
11.44x1.35x4.34x6.76% 230B
10.36x2.5x6.61x6% 196B
14.01x2.18x5.65x3.88% 161B
12.66x1.83x7.95x3.4% 81.84B
11.6x0.87x3.24x6.77% 79.05B
11.76x1.89x4.78x2.7% 71.51B
15.4x2.73x8.58x5.06% 57.95B
23.14x5.21x18.5x4.65% 54.9B
12.64x1.78x5.46x4.79% 50.56B
Average 13.81x 2.30x 7.12x 4.86% 103.05B
Weighted average by Cap. 12.84x 2.10x 6.34x 5.21%

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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  4. Valuation Emirates Telecommunications Group Company