Company Valuation: Kcell

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 552,000 325,382 345,000 390,996 686,400 676,600
Change - -41.05% 6.03% 13.33% 75.55% -1.43%
Enterprise Value (EV) 1 607,007 354,091 348,999 508,389 820,155 844,628
Change - -41.67% -1.44% 45.67% 61.32% 2.98%
P/E 31.4x 10x 8.55x 11.9x 67.6x 48x
PBR 6.72x 3.31x 2.49x 2.28x 3.78x 3.46x
PEG - 0.1x 0.4x -0.6x -1x 1.2x
Capitalization / Revenue 3.16x 1.68x 1.58x 1.75x 2.92x 2.66x
EV / Revenue 3.47x 1.82x 1.59x 2.27x 3.48x 3.32x
EV / EBITDA 10.7x 5.23x 4.67x 7.91x 16.4x 11.6x
EV / EBIT 14.5x 6.78x 5.74x 10.6x 28.7x 19.8x
EV / FCF 19.4x 8.71x 15x -5.39x -103x -29.5x
FCF Yield 5.14% 11.5% 6.66% -18.6% -0.97% -3.39%
Dividend per Share 2 87.89 107.5 - - - -
Rate of return 3.18% 6.61% - - - -
EPS 2 87.89 162.5 201.8 164.5 50.8 70.53
Distribution rate 100% 66.1% - - - -
Net sales 1 174,684 194,081 219,002 223,747 235,467 254,749
EBITDA 1 56,966 67,705 74,808 64,291 49,976 73,051
EBIT 1 41,738 52,207 60,752 47,760 28,570 42,749
Net income 1 17,578 32,506 40,350 32,897 10,159 14,106
Net Debt 1 55,007 28,709 3,999 117,393 133,755 168,028
Reference price 2 2,760.00 1,626.91 1,725.00 1,954.98 3,432.00 3,383.00
Nbr of stocks (in thousands) 200,000 200,000 200,000 200,000 200,000 200,000
Announcement Date 03/03/21 23/02/22 31/03/23 11/03/24 11/04/25 29/03/26
1KZT in Million2KZT
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 1.37B
-112.38x49.5x119.66x - 1,969B
34.17x6.48x29.32x0.19% 203B
17.66x2.99x7.61x2.23% 200B
9.23x2.25x6.06x5.26% 147B
14.09x2.28x7.61x3.03% 65.35B
21.27x5.69x10.42x4.46% 33.57B
12.05x1.24x4.24x4.19% 30.38B
12.45x3.44x7.59x6.78% 20.16B
11.75x1.8x4.44x5.68% 17.95B
Average 2.25x 8.41x 21.88x 3.98% 268.75B
Weighted average by Cap. -77.07x 37.30x 91.28x 2.75%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA