Projected Income Statement: Swisscom AG

Forecast Balance Sheet: Swisscom AG

Forecast Balance Sheet - Swisscom AG
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 7,706 7,374 7,071 15,597 15,633 14,962 14,881 14,305
Change - -4.31% -4.11% 120.58% 0.23% -4.29% -0.54% -3.87%
Announcement Date 2/3/22 2/8/23 2/7/24 2/13/25 2/12/26 - - -
1CHF in Million
Estimates

Cash Flow Forecast: Swisscom AG

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 2,286 2,309 2,292 2,312 3,008 3,580 3,538 3,518
Change - 1.01% -0.74% 0.87% 30.1% 19.01% -1.17% -0.55%
Free Cash Flow (FCF) 1 1,758 1,349 1,480 1,437 1,433 1,541 1,587 1,844
Change - -23.27% 9.71% -2.91% -0.28% 7.52% 2.98% 16.2%
Announcement Date 2/3/22 2/8/23 2/7/24 2/13/25 2/12/26 - - -
1CHF in Million
Estimates

Forecast Financial Ratios: Swisscom AG

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 40.1% 39.65% 41.74% 39.46% 43.97% 45.57% 46.34% 47.3%
EBIT Margin (%) 18.47% 18.36% 19.92% 17.68% 12.79% 14.17% 15.21% 16.17%
EBT Margin (%) 19.24% 17.67% 18.74% 16.86% 10.41% 11.34% 12.52% 13.89%
Net margin (%) 16.38% 14.42% 15.45% 13.96% 8.45% 9.65% 10.46% 11.55%
FCF margin (%) 15.72% 12.14% 13.37% 13.02% 9.52% 10.47% 10.82% 12.58%
FCF / Net Income (%) 95.96% 84.21% 86.5% 93.25% 112.75% 108.51% 103.47% 108.91%

Profitability

        
ROA 7.47% 6.48% 6.93% 4.97% 3.44% 3.96% 4.28% 4.69%
ROE 18.05% 14.58% 15.02% 12.96% 10.42% 11.9% 13.06% 14.28%

Financial Health

        
Leverage (Debt/EBITDA) 1.72x 1.67x 1.53x 3.58x 2.36x 2.23x 2.19x 2.06x
Debt / Free cash flow 4.38x 5.47x 4.78x 10.85x 10.91x 9.71x 9.38x 7.76x

Capital Intensity

        
CAPEX / Current Assets (%) 20.44% 20.78% 20.7% 20.95% 19.99% 24.32% 24.13% 24.01%
CAPEX / EBITDA (%) 50.98% 52.41% 49.59% 53.09% 45.46% 53.38% 52.06% 50.75%
CAPEX / FCF (%) 130.03% 171.16% 154.86% 160.89% 209.91% 232.35% 222.96% 190.82%

Items per share

        
Cash flow per share 1 78.07 74.82 77.78 76.77 116.1 101.5 102.3 103.5
Change - -4.15% 3.95% -1.29% 51.17% -12.5% 0.72% 1.22%
Dividend per Share 1 22 22 22 22 22 26.95 28.21 29.18
Change - 0% 0% 0% 0% 22.48% 4.68% 3.47%
Book Value Per Share 1 208.7 215.6 224.3 234.6 236.3 237.2 239.5 242.6
Change - 3.3% 4.04% 4.61% 0.69% 0.39% 0.99% 1.27%
EPS 1 35.37 30.93 33.03 29.77 24.54 26.6 28.93 31.44
Change - -12.55% 6.79% -9.87% -17.57% 8.39% 8.76% 8.68%
Nbr of stocks (in thousands) 51,802 51,802 51,802 51,802 51,802 51,802 51,802 51,802
Announcement Date 2/3/22 2/8/23 2/7/24 2/13/25 2/12/26 - - -
1CHF
Estimates
2026 *2027 *
P/E 23.6x 21.7x
PBR 2.64x 2.62x
EV / Sales 3.22x 3.23x
Yield 4.3% 4.5%

EPS & Dividend

EPS & Dividend - Swisscom AG


Y-o-Y evolution of P/E

Valuation ratios - P/E - Swisscom AG
 

Year-on-year evolution of the Yield

Valuation ratios - Yield - Swisscom AG
Trader
Investor
Global
Quality
ESG MSCI
AA
Ratings Surperformance© - Swisscom AG
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
17
Last Close Price
627.00CHF
Average target price
575.76CHF
Spread / Average Target
-8.17%

Quarterly revenue - Rate of surprise

Rate of surprise - Net sales - Quarterly - Swisscom AG