Projected Income Statement: NetLink NBN Trust

Forecast Balance Sheet: NetLink NBN Trust

Forecast Balance Sheet - NetLink NBN Trust
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Net Debt 1 552 565 614 544 773 794 826 825
Change - 2.36% 8.67% -11.4% 42.1% 2.69% 4.03% -0.12%
Announcement Date 5/17/22 5/18/23 5/16/24 5/15/25 5/14/26 - - -
1SGD in Million
Estimates

Cash Flow Forecast: NetLink NBN Trust

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
CAPEX 1 73.88 96.74 132.3 143.7 106.9 93.82 87.43 88
Change - 30.94% 36.78% 8.59% -25.57% -12.27% -6.81% 0.65%
Free Cash Flow (FCF) 1 184.9 189 176.1 135.7 174 152.3 189.6 190.5
Change - 2.22% -6.81% -22.91% 28.21% -12.49% 24.52% 0.45%
Announcement Date 5/17/22 5/18/23 5/16/24 5/15/25 5/14/26 - - -
1SGD in Million
Estimates

Forecast Financial Ratios: NetLink NBN Trust

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029

Profitability

        
EBITDA Margin (%) 69.94% 73.11% 71.1% 70.79% 68.44% 69.63% 68.48% 68.23%
EBIT Margin (%) 24.99% 30.82% 29.05% 27.16% 23.59% 23.84% 23.74% 24.05%
EBT Margin (%) 23.06% 27.07% 24.57% 22.63% 18.46% 18.28% 18.69% 18.25%
Net margin (%) 24.17% 27.08% 25.09% 23.43% 20.15% 20.36% 20.63% 21.59%
FCF margin (%) 48.95% 46.83% 42.81% 33.35% 42.09% 36.43% 44.58% 44.17%
FCF / Net Income (%) 202.55% 172.95% 170.61% 142.36% 208.9% 178.92% 216.15% 204.64%

Profitability

        
ROA 2.24% 2.72% 2.6% 2.45% 2.16% 2.41% 2.56% 2.92%
ROE 3.31% 4.09% 4% 3.88% 3.58% 4.05% 4.22% 4.75%

Financial Health

        
Leverage (Debt/EBITDA) 2.09x 1.91x 2.1x 1.89x 2.73x 2.73x 2.83x 2.8x
Debt / Free cash flow 2.99x 2.99x 3.49x 4.01x 4.44x 5.21x 4.35x 4.33x

Capital Intensity

        
CAPEX / Current Assets (%) 19.56% 23.98% 32.17% 35.3% 25.87% 22.44% 20.55% 20.41%
CAPEX / EBITDA (%) 27.98% 32.8% 45.25% 49.87% 37.8% 32.23% 30.01% 29.91%
CAPEX / FCF (%) 39.97% 51.2% 75.14% 105.84% 61.45% 61.6% 46.1% 46.2%

Items per share

        
Cash flow per share 1 0.0664 0.7331 0.0741 0.0664 0.0664 0.074 0.0718 0.077
Change - 1,004.08% -89.89% -10.39% 0% 11.52% -3.09% 7.27%
Dividend per Share 1 0.0513 0.0524 0.053 0.0536 0.0542 0.0541 0.0549 0.0557
Change - 2.14% 1.15% 1.13% 1.12% -0.13% 1.4% 1.46%
Book Value Per Share 1 0.6971 0.6754 0.6473 0.6142 0.5798 0.5412 0.5122 0.4772
Change - -3.11% -4.16% -5.11% -5.6% -6.66% -5.36% -6.84%
EPS 1 0.0234 0.028 0.0265 0.0245 0.0214 0.0218 0.0221 0.0225
Change - 19.66% -5.36% -7.55% -12.65% 2.01% 1.42% 1.58%
Nbr of stocks (in thousands) 3,896,971 3,896,971 3,896,971 3,896,971 3,896,971 3,896,971 3,896,971 3,896,971
Announcement Date 5/17/22 5/18/23 5/16/24 5/15/25 5/14/26 - - -
1SGD
Estimates
2027 *2028 *
P/E 43.1x 42.5x
PBR 1.74x 1.84x
EV / Sales 10.7x 10.6x
Yield 5.76% 5.84%

EPS & Dividend

EPS & Dividend - NetLink NBN Trust


Y-o-Y evolution of P/E

Valuation ratios - P/E - NetLink NBN Trust
 

Year-on-year evolution of the Yield

Valuation ratios - Yield - NetLink NBN Trust
Trader
Investor
Global
Quality
ESG MSCI
A
MarketScreener Ratings - NetLink NBN Trust
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
0.9400SGD
Average target price
1.049SGD
Spread / Average Target
+11.57%

Annual profits - Rate of surprise

Rate of surprise - EPS - Annual - NetLink NBN Trust
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  4. Financials NetLink NBN Trust