Financials PCCW Limited Börse Stuttgart

Equities

Real-time Estimate Tradegate Other stock markets 09:32:43 2024-06-18 EDT			5-day change	1st Jan Change
0.447 ^EUR	+0.31%		-1.50%	-5.55%

05-30	PCCW Limited Approves Final Dividend for the Year Ended 31 December 2023	CI
05-08	PCCW to Sell 40% Stake in Fiber Business for Up to $900 Million	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	35,573	36,048	30,511	27,199	32,155	29,444	-	-
Enterprise Value (EV) ¹	85,270	88,656	72,770	73,711	81,574	81,922	84,807	87,551
P/E ratio	52.2 x	-35.3 x	29.4 x	173 x	-68.2 x	179 x	61.2 x	46.8 x
Yield	6.98%	6.89%	9.38%	10.8%	9.19%	9.91%	10%	10.2%
Capitalization / Revenue	0.95 x	0.95 x	0.79 x	0.75 x	0.88 x	0.78 x	0.76 x	0.75 x
EV / Revenue	2.27 x	2.33 x	1.88 x	2.04 x	2.24 x	2.18 x	2.2 x	2.23 x
EV / EBITDA	6.91 x	7.4 x	5.91 x	5.95 x	6.36 x	5.97 x	5.96 x	5.98 x
EV / FCF	13.8 x	-	-	9.21 x	-	8.73 x	7.85 x	7.73 x
FCF Yield	7.24%	-	-	10.9%	-	11.5%	12.7%	12.9%
Price to Book	2.29 x	3.63 x	3.6 x	2.38 x	3.84 x	7.27 x	-18.7 x	-5.56 x
Nbr of stocks (in thousands)	7,716,457	7,719,019	7,724,279	7,726,853	7,729,502	7,728,091	-	-
Reference price ²	4.610	4.670	3.950	3.520	4.160	3.810	3.810	3.810
Announcement Date	20-02-13	21-02-05	22-02-24	23-02-24	24-02-23	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	37,521	38,046	38,654	36,065	36,347	37,659	38,603	39,305
EBITDA ¹	12,339	11,978	12,309	12,388	12,831	13,720	14,218	14,642
EBIT ¹	5,117	4,095	4,683	4,655	4,968	5,775	6,216	6,561
Operating Margin	13.64%	10.76%	12.12%	12.91%	13.67%	15.33%	16.1%	16.69%
Earnings before Tax (EBT) ¹	3,811	1,408	3,911	2,599	2,499	3,476	3,950	4,339
Net income ¹	681	-1,020	1,039	158	-471	166	488.2	633
Net margin	1.81%	-2.68%	2.69%	0.44%	-1.3%	0.44%	1.26%	1.61%
EPS ²	0.0883	-0.1322	0.1344	0.0204	-0.0610	0.0213	0.0622	0.0815
Free Cash Flow ¹	6,177	-	-	8,007	-	9,385	10,804	11,320
FCF margin	16.46%	-	-	22.2%	-	24.92%	27.99%	28.8%
FCF Conversion (EBITDA)	50.06%	-	-	64.64%	-	68.4%	75.99%	77.31%
FCF Conversion (Net income)	907.05%	-	-	5,067.72%	-	5,652.88%	2,212.85%	1,788.37%
Dividend per Share ²	0.3218	0.3218	0.3705	0.3804	0.3825	0.3775	0.3821	0.3878
Announcement Date	20-02-13	21-02-05	22-02-24	23-02-24	24-02-23	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	49,697	52,608	42,259	46,512	49,419	52,478	55,363	58,106
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.028 x	4.392 x	3.433 x	3.755 x	3.852 x	3.825 x	3.894 x	3.969 x
Free Cash Flow ¹	6,177	-	-	8,007	-	9,385	10,804	11,320
ROE (net income / shareholders' equity)	4.17%	-8.01%	11.3%	1.22%	-4.76%	0.54%	6.13%	28.4%
ROA (Net income/ Total Assets)	0.71%	-	-	0.17%	-0.5%	0.03%	0.1%	0.16%
Assets ¹	96,555	-	-	94,667	94,807	535,553	474,018	398,099
Book Value Per Share ²	2.010	1.290	1.100	1.480	1.080	0.5200	-0.2000	-0.6900
Cash Flow per Share ²	1.440	1.640	1.020	1.340	1.730	1.380	1.460	1.470
Capex ¹	9,422	7,126	3,591	2,332	2,187	3,816	3,936	3,999
Capex / Sales	25.11%	18.73%	9.29%	6.47%	6.02%	10.13%	10.2%	10.17%
Announcement Date	20-02-13	21-02-05	22-02-24	23-02-24	24-02-23	-	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3.81 HKD

Average target price

3.975 HKD

Spread / Average Target

+4.33%

	1st Jan change	Capi.
CHINA MOBILE LIMITED	+12.81%	203B
VERIZON COMMUNICATIONS	+4.67%	166B
DEUTSCHE TELEKOM AG	+4.37%	120B
NIPPON TELEGRAPH AND TELEPHONE CORPORATION	-15.55%	77.2B
CHINA TELECOM CORPORATION LIMITED	+14.44%	68.32B
AMÉRICA MÓVIL, S.A.B. DE C.V.	-0.51%	52.22B
SAUDI TELECOM COMPANY	-8.66%	48.62B
CHARTER COMMUNICATIONS, INC.	-26.43%	41.19B
EMIRATES TELECOMMUNICATIONS GROUP COMPANY	-19.04%	37.65B