Company Valuation: Singapore Telecommunications Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 43,581 40,600 41,753 56,600 81,324 71,828 - -
Change - -6.84% 2.84% 35.56% 43.68% -11.68% - -
Enterprise Value (EV) 1 53,319 49,825 49,048 65,498 89,533 80,010 80,031 80,997
Change - -6.55% -1.56% 33.54% 36.69% -10.64% 0.03% 1.21%
P/E 22.4x 18.4x 53.3x 14.3x 14.7x 23.6x 20.8x 18.3x
PBR 1.55x 1.56x 1.68x 2.19x 3.15x 2.54x 2.5x 2.47x
PEG - 1.3x -0.8x 0x 0.4x -0.5x 1.5x 1.4x
Capitalization / Revenue 2.84x 2.78x 2.96x 4x 5.7x 4.8x 4.64x 4.46x
EV / Revenue 3.48x 3.41x 3.47x 4.63x 6.28x 5.34x 5.17x 5.03x
EV / EBITDA 14.2x 13.5x 13.6x 17.3x 23.3x 19.5x 18.4x 17.7x
EV / EBIT 51x 44.8x 42.5x 47.4x 59.5x 49.3x 44.7x 41.8x
EV / FCF 17.3x 19.1x 19.1x 26.5x 36.7x 22.9x 21.5x 17.8x
FCF Yield 5.78% 5.24% 5.24% 3.78% 2.72% 4.38% 4.65% 5.62%
Dividend per Share 2 0.093 0.144 0.15 0.17 0.185 0.1996 0.2201 0.2406
Rate of return 3.52% 5.85% 5.93% 4.96% 3.74% 4.54% 5% 5.47%
EPS 2 0.1176 0.134 0.0475 0.2392 0.3362 0.1863 0.2116 0.2401
Distribution rate 79.1% 107% 316% 71.1% 55% 107% 104% 100%
Net sales 1 15,339 14,624 14,128 14,146 14,261 14,977 15,483 16,105
EBITDA 1 3,767 3,686 3,597 3,792 3,848 4,097 4,358 4,573
EBIT 1 1,045 1,112 1,153 1,381 1,504 1,623 1,788 1,936
Net income 1 1,948 2,225 795 4,017 5,606 3,070 3,462 3,924
Net Debt 1 9,738 9,225 7,294 8,898 8,208 8,182 8,203 9,169
Reference price 2 2.640 2.460 2.530 3.430 4.940 4.400 4.400 4.400
Nbr of stocks (in thousands) 16,507,889 16,503,958 16,503,347 16,501,331 16,462,400 16,324,570 - -
Announcement Date 5/26/22 5/24/23 5/22/24 5/21/25 5/20/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.67x1.37x4.31x6.78% 232B
10.89x2.57x6.79x5.71% 205B
13.96x2.23x5.74x3.9% 162B
13.22x1.79x7.66x3.2% 85.07B
13.06x0.93x3.43x5.8% 82.9B
11.96x1.82x4.59x2.74% 71.52B
15.51x2.71x8.47x5% 58.69B
23.62x5.34x19.53x4.54% 56.57B
15.78x2.78x6.22x4.4% 51.05B
Average 14.41x 2.39x 7.42x 4.67% 111.75B
Weighted average by Cap. 13.25x 2.16x 6.48x 5.07%

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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