Company Valuation: Hellenic Telecommunications Organization S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,267 6,258 5,367 6,036 6,683 7,790 - -
Change - -13.89% -14.23% 12.47% 10.71% 16.57% - -
Enterprise Value (EV) 1 8,043 6,722 6,002 6,680 7,236 8,131 8,167 8,177
Change - -16.42% -10.71% 11.29% 8.33% 12.36% 0.44% 0.13%
P/E 15.2x 16.4x 10.3x 12.8x 9.33x 12.2x 11.7x 10.8x
PBR 3.68x - - 3.12x 3.21x 3.59x 3.36x 3.16x
PEG - -1x 0.2x -1.74x 0.2x -1.2x 2.8x 1.29x
Capitalization / Revenue 2.16x 1.81x 1.55x 1.68x 1.93x 2.25x 2.24x 2.23x
EV / Revenue 2.39x 1.95x 1.73x 1.86x 2.09x 2.35x 2.34x 2.34x
EV / EBITDA 6.21x 4.99x 4.47x 4.96x 5.27x 5.67x 5.58x 5.49x
EV / EBIT 9.9x 8.95x 8.39x 9.99x 8.81x 9.7x 9.3x 8.9x
EV / FCF 12.6x 9.91x 12x 13.3x 12.5x 11.1x 15.4x 13.6x
FCF Yield 7.94% 10.1% 8.35% 7.52% 8.03% 8.97% 6.51% 7.37%
Dividend per Share 2 0.558 0.5765 0.71 0.7216 0.8777 0.93 1.039 1.074
Rate of return 3.43% 3.95% 5.5% 4.85% 5.21% 4.7% 5.25% 5.42%
EPS 2 1.072 0.8873 1.256 1.163 1.808 1.623 1.691 1.833
Distribution rate 52.1% 65% 56.5% 62% 48.5% 57.3% 61.5% 58.6%
Net sales 1 3,368 3,455 3,469 3,591 3,464 3,466 3,486 3,491
EBITDA 1 1,296 1,348 1,342 1,347 1,374 1,434 1,464 1,490
EBIT 1 812.3 751.5 715.7 668.4 821 838.4 878.5 918.3
Net income 1 557.6 388.6 531.7 478.8 501.1 640.9 646.8 679.5
Net Debt 1 775.6 464.5 634.8 643.4 553.3 340.4 376.2 386.7
Reference price 2 16.26 14.59 12.90 14.88 16.86 19.80 19.80 19.80
Nbr of stocks (in thousands) 447,065 428,912 416,076 405,679 396,392 393,448 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/26/25 2/26/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.39x1.32x4.09x7.04% 224B
9.11x2.38x6.37x6.47% 182B
13.7x2.13x5.55x4.17% 149B
13.45x2.04x5.17x2.39% 79.13B
12.16x0.82x3.08x6.63% 77.03B
12.03x1.75x7.5x3.57% 75.8B
15.48x2.69x8.43x5.08% 57.64B
23.9x5.38x19.65x4.48% 56.14B
16.05x1.79x5.62x4.78% 50.1B
Average 14.14x 2.26x 7.27x 4.96% 105.68B
Weighted average by Cap. 12.83x 2.05x 6.30x 5.39%

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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  5. Valuation Hellenic Telecommunications Organization S.A.