Company Valuation: Cellnex Telecom, S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 23,901 34,756 21,594 25,154 21,526 18,936 18,936 -
Change - 45.42% -37.87% 16.48% -14.42% -12.03% 0% -
Enterprise Value (EV) 1 30,401 49,308 41,432 45,256 42,291 39,143 39,538 39,950
Change - 62.19% -15.97% 9.23% -6.55% -7.44% 1.01% 1.04%
P/E ratio -140x -88.2x -107x -81x -610x -110x -327x 990x
PBR 2.98x 2.2x 1.33x 1.81x 1.52x 1.47x 1.52x 1.58x
PEG - -1.3x 2.1x -1.6x 6.9x -0x 4.9x -7x
Capitalization / Revenue 15.3x 13.7x 6.18x 6.21x 5.46x 4.5x 4.31x 4.12x
EV / Revenue 19.5x 19.5x 11.9x 11.2x 10.7x 9.29x 8.99x 8.7x
EV / EBITDA 26.8x 25.7x 15.8x 15x 13x 11.8x 11.4x 10.9x
EV / EBIT 192x 211x 180x 99.3x 215x 63x 49.8x 42.8x
EV / FCF 950x -130x 30.3x 29.3x 23.5x 20.7x 19.8x 19.6x
FCF Yield 0.11% -0.77% 3.3% 3.41% 4.25% 4.84% 5.05% 5.1%
Dividend per Share 2 0.0533 0.03 0.0519 0.0571 0.0628 0.2588 0.8271 0.9281
Rate of return 0.11% 0.06% 0.17% 0.16% 0.21% 0.9% 2.87% 3.22%
EPS 2 -0.35 -0.58 -0.29 -0.44 -0.05 -0.2614 -0.0881 0.0291
Distribution rate -15.2% -5.18% -17.9% -13% -126% -99% -938% 3,190%
Net sales 1 1,562 2,533 3,495 4,049 3,941 4,212 4,397 4,594
EBITDA 1 1,132 1,921 2,630 3,008 3,250 3,311 3,481 3,671
EBIT 1 158.3 233.1 230.3 455.8 197 621 794.5 933
Net income 1 -133.1 -351.4 -297.1 -297.2 -28 -172.5 -61.98 30.76
Net Debt 1 6,500 14,552 19,838 20,102 20,765 20,207 20,602 21,014
Reference price 2 49.12 51.18 30.92 35.66 30.51 28.80 28.80 28.80
Nbr of stocks (in thousands) 486,576 679,090 698,392 705,381 705,544 657,496 657,496 -
Announcement Date 26/02/21 25/02/22 01/03/23 29/02/24 26/02/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-110.38x9.29x11.82x0.9% 22.47B
43.01x6.5x11.43x1.04% 133B
17.77x2.09x7.95x4.13% 66.19B
15.4x2.05x4.77x2.01% 22.11B
4.15x3.17x7.01x3.89% 20.49B
27.74x5.31x11.83x4.13% 14.44B
15.53x3.01x7.84x3.89% 14.04B
-4.86x7.32x17.36x-.--% 14.15B
24.16x3.38x9.79x4.1% 10.55B
14.16x3.38x6.65x5.54% 10.26B
Average 4.67x 4.55x 9.64x 2.96% 32.79B
Weighted average by Cap. 17.69x 4.93x 9.95x 2.35%

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
  2. Equities
  3. CLNX Stock
  4. Valuation Cellnex Telecom, S.A.