Company Valuation: Safaricom PLC

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,368,234 725,184 711,161 733,197 1,101,799 1,410,303 - -
Change - -47% -1.93% 3.1% 50.27% 28% - -
Enterprise Value (EV) 1 1,402,766 788,628 796,440 810,632 1,184,099 1,533,455 1,524,287 1,513,902
Change - -43.78% 0.99% 1.78% 46.07% 29.5% -0.6% -0.68%
P/E 19.6x 11.7x 11.3x 10.5x 11.5x 12.3x 10.5x 9.32x
PBR 9.81x 3.87x 3.14x 4.13x - 6.39x 5.77x 5.23x
PEG - -1.1x 8.76x 1x 0.3x 0.6x 0.6x 0.7x
Capitalization / Revenue 4.59x 2.33x 2.04x 1.89x 2.58x 2.96x 2.67x 2.44x
EV / Revenue 4.71x 2.54x 2.28x 2.09x 2.77x 3.22x 2.89x 2.62x
EV / EBITDA 9.41x 5.64x 4.88x 4.71x 5.38x 5.99x 5.34x 4.8x
EV / EBIT 12.9x 9.28x 9.91x 7.79x 8.09x 8.38x 7.16x 6.3x
EV / FCF 22x 15.8x 19.3x 10.5x 13.2x 12.3x 10.8x 9.16x
FCF Yield 4.54% 6.32% 5.18% 9.49% 7.58% 8.14% 9.3% 10.9%
Dividend per Share 2 1.39 1.2 1.2 1.2 2 2.397 2.78 3.124
Rate of return 4.07% 6.63% 6.76% 6.56% 7.27% 6.81% 7.9% 8.88%
EPS 2 1.74 1.55 1.57 1.74 2.39 2.871 3.351 3.776
Distribution rate 79.9% 77.4% 76.4% 69% 83.7% 83.5% 83% 82.7%
Net sales 1 298,078 310,905 349,447 388,689 427,559 476,352 527,667 578,886
EBITDA 1 149,062 139,862 163,293 172,151 220,262 255,815 285,457 315,148
EBIT 1 109,129 84,997 80,345 104,050 146,322 182,896 212,933 240,332
Net income 1 69,648 62,269 62,992 69,799 95,609 109,758 134,020 154,982
Net Debt 1 34,531 63,444 85,279 77,435 82,300 123,152 113,984 103,599
Reference price 2 34.15 18.10 17.75 18.30 27.50 35.20 35.20 35.20
Nbr of stocks (in thousands) 40,065,428 40,065,428 40,065,428 40,065,428 40,065,428 40,065,428 - -
Announcement Date 5/12/22 5/11/23 5/9/24 5/9/25 5/7/26 - - -
1KES in Million2KES
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.26x3.22x5.99x6.81% 10.9B
28.59x5.18x9.08x1.79% 120B
20.25x2.21x8.47x3.62% 77.02B
13.84x1.83x3.88x2.85% 23.01B
-226.81x8.65x10.75x3.17% 19.76B
31.87x3.02x6.82x3.99% 19.57B
-8.82x7.09x15.89x-.--% 16.98B
13.53x2.66x6.91x4.82% 13.3B
11.36x4.8x10.4x6.58% 12.22B
25.42x3.48x10.36x4.03% 12.03B
Average -7.85x 4.21x 8.86x 3.77% 32.44B
Weighted average by Cap. 6.31x 4.17x 8.79x 2.98%

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

  1. Stock Market
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  4. Valuation Safaricom PLC
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