Company Valuation: Swisscom AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,657 26,243 26,212 26,134 29,812 33,309 - -
Change - -1.55% -0.12% -0.3% 14.07% 11.73% - -
Enterprise Value (EV) 1 34,363 33,617 33,283 41,731 45,445 48,825 48,565 47,968
Change - -2.17% -0.99% 25.38% 8.9% 7.44% -0.53% -1.23%
P/E 14.5x 16.4x 15.3x 16.9x 23.5x 24.3x 22.3x 20.4x
PBR 2.47x 2.35x 2.26x 2.15x 2.44x 2.71x 2.72x 2.69x
PEG - -1.3x 2.25x -1.71x -1.3x 3.14x 2.53x 2.11x
Capitalization / Revenue 2.38x 2.36x 2.37x 2.37x 1.98x 2.26x 2.27x 2.28x
EV / Revenue 3.07x 3.03x 3.01x 3.78x 3.02x 3.32x 3.31x 3.28x
EV / EBITDA 7.66x 7.63x 7.2x 9.58x 6.87x 7.31x 7.18x 6.96x
EV / EBIT 16.6x 16.5x 15.1x 21.4x 23.6x 23.5x 21.8x 20.1x
EV / FCF 19.5x 24.9x 22.5x 29x 31.7x 35.1x 31.3x 25.1x
FCF Yield 5.12% 4.01% 4.45% 3.44% 3.15% 2.85% 3.2% 3.99%
Dividend per Share 2 22 22 22 22 22 26.95 27.97 28.92
Rate of return 4.28% 4.34% 4.35% 4.36% 3.82% 4.19% 4.35% 4.5%
EPS 2 35.37 30.93 33.03 29.77 24.54 26.44 28.77 31.56
Distribution rate 62.2% 71.1% 66.6% 73.9% 89.6% 102% 97.2% 91.6%
Net sales 1 11,183 11,112 11,072 11,036 15,048 14,718 14,658 14,628
EBITDA 1 4,484 4,406 4,622 4,355 6,617 6,679 6,765 6,892
EBIT 1 2,066 2,040 2,205 1,951 1,925 2,082 2,226 2,392
Net income 1 1,832 1,602 1,711 1,541 1,271 1,435 1,534 1,701
Net Debt 1 7,706 7,374 7,071 15,597 15,633 15,516 15,256 14,659
Reference price 2 514.60 506.60 506.00 504.50 575.50 643.00 643.00 643.00
Nbr of stocks (in thousands) 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 in Million2CHF
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.57x1.36x4.22x6.83% 232B
10.23x2.48x6.56x6.08% 193B
13.38x2.15x5.59x4.11% 152B
11.85x0.85x3.19x6.71% 79.77B
12.06x1.75x7.49x3.57% 78.06B
11.97x1.91x4.83x2.65% 72.48B
15.4x2.73x8.58x5.07% 57.9B
23.41x5.26x18.69x4.6% 55.43B
15.41x2.75x6.26x4.48% 49.72B
Average 13.92x 2.36x 7.27x 4.9% 107.81B
Weighted average by Cap. 12.78x 2.11x 6.32x 5.32%

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