Financials Royal KPN N.V.

Equities

KPN

NL0000009082

Integrated Telecommunications Services

Market Closed - Euronext Amsterdam 16:35:27 26/04/2024 BST 5-day change 1st Jan Change
3.426 EUR -0.29% Intraday chart for Royal KPN N.V. +3.16% +9.88%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,038 10,435 11,257 11,459 12,442 13,487 - -
Enterprise Value (EV) 1 16,186 15,767 17,831 16,894 18,024 19,645 19,546 19,758
P/E ratio 17.5 x 19.1 x 8.81 x 16.1 x 15.6 x 15.9 x 14.6 x 13.5 x
Yield 4.75% 5.23% 4.98% 4.95% 4.81% 4.94% 5.2% 5.55%
Capitalization / Revenue 2.01 x 1.98 x 2.14 x 2.15 x 2.28 x 2.41 x 2.36 x 2.3 x
EV / Revenue 2.95 x 2.99 x 3.39 x 3.17 x 3.31 x 3.51 x 3.42 x 3.38 x
EV / EBITDA 6.99 x 6.8 x 7.6 x 7.03 x 7.45 x 7.52 x 7.26 x 7.12 x
EV / FCF 22.3 x 20.6 x 22.7 x 19.6 x 20.3 x 19.8 x 19.9 x 19.3 x
FCF Yield 4.49% 4.85% 4.4% 5.1% 4.92% 5.04% 5.02% 5.17%
Price to Book 4.4 x 3.98 x 3.55 x 3.19 x 3.45 x 3.85 x 3.48 x 3.39 x
Nbr of stocks (in thousands) 4,195,544 4,195,914 4,123,551 3,964,897 3,990,322 3,936,552 - -
Reference price 2 2.631 2.487 2.730 2.890 3.118 3.426 3.426 3.426
Announcement Date 29/01/20 27/01/21 21/02/22 31/01/23 31/01/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,486 5,275 5,256 5,327 5,448 5,591 5,716 5,853
EBITDA 1 2,317 2,320 2,347 2,404 2,420 2,614 2,694 2,774
EBIT 1 1,041 912 1,862 1,214 1,342 1,363 1,437 1,532
Operating Margin 18.98% 17.29% 35.43% 22.79% 24.63% 24.38% 25.14% 26.18%
Earnings before Tax (EBT) 1 663 649 1,627 993 1,088 1,085 1,198 1,299
Net income 1 614 561 1,288 760 844 845.2 916.3 988.6
Net margin 11.19% 10.64% 24.51% 14.27% 15.49% 15.12% 16.03% 16.89%
EPS 2 0.1500 0.1300 0.3100 0.1800 0.2000 0.2149 0.2347 0.2545
Free Cash Flow 1 726 765 784 862 886 990.2 981.8 1,021
FCF margin 13.23% 14.5% 14.92% 16.18% 16.26% 17.71% 17.17% 17.45%
FCF Conversion (EBITDA) 31.33% 32.97% 33.4% 35.86% 36.61% 37.88% 36.45% 36.82%
FCF Conversion (Net income) 118.24% 136.36% 60.87% 113.42% 104.98% 117.16% 107.14% 103.29%
Dividend per Share 2 0.1250 0.1300 0.1360 0.1430 0.1500 0.1693 0.1783 0.1902
Announcement Date 29/01/20 27/01/21 21/02/22 31/01/23 31/01/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 - - - 2,584 1,312 1,358 1,311 1,314 1,337 1,366 1,333 1,331 1,334 1,421 1,377 1,384 1,424 1,458 -
EBITDA 1 - - - 1,156 607 584 593 595 618 598 584 596 629 611 605 638.7 682.2 658 -
EBIT 1 - - - - - 252 291 307 325 291 - - - 323 337 343 371.4 331.6 -
Operating Margin - - - - - 18.56% 22.2% 23.36% 24.31% 21.3% - - - 22.73% 24.47% 24.78% 26.09% 22.75% -
Earnings before Tax (EBT) 1 - - - - - 187 - - - - - - - 262 221 276.9 294 269.9 -
Net income 1 - - - - 185 164 179 - - 190 - - - - 175 213.6 224.8 213.2 -
Net margin - - - - 14.1% 12.08% 13.65% - - 13.91% - - - - 12.71% 15.43% 15.79% 14.63% -
EPS 2 - - - - 0.0500 0.0400 0.0400 0.0500 0.0500 0.0400 0.0500 0.0500 0.0500 0.0500 0.0400 0.0500 0.0500 0.0500 -
Dividend per Share 2 0.0830 0.0430 0.0900 - - 0.0930 - 0.0480 - 0.0950 - - - 0.0980 0.0850 - - 0.0850 -
Announcement Date 29/01/20 27/07/20 27/01/21 27/07/21 26/10/21 21/02/22 29/04/22 26/07/22 26/10/22 31/01/23 26/04/23 24/07/23 25/10/23 31/01/24 15/04/24 - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 5,148 5,332 6,574 5,435 5,582 6,158 6,060 6,271
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.222 x 2.298 x 2.801 x 2.261 x 2.307 x 2.356 x 2.25 x 2.261 x
Free Cash Flow 1 726 765 784 862 886 990 982 1,021
ROE (net income / shareholders' equity) 28% 21.9% 21.4% 22.1% 23.4% 24.1% 25.1% 26.6%
ROA (Net income/ Total Assets) 4.85% 4.6% 10.4% 6.15% 6.97% 6.83% 6.65% 7.18%
Assets 1 12,655 12,192 12,409 12,350 12,108 12,370 13,773 13,767
Book Value Per Share 2 0.6000 0.6200 0.7700 0.9000 0.9000 0.8900 0.9800 1.010
Cash Flow per Share 2 0.4800 0.4700 0.5100 0.5200 0.5300 0.5900 0.5800 0.5700
Capex 1 1,115 1,147 1,216 1,206 1,248 1,223 1,216 1,208
Capex / Sales 20.32% 21.74% 23.14% 22.64% 22.91% 21.87% 21.27% 20.63%
Announcement Date 29/01/20 27/01/21 21/02/22 31/01/23 31/01/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
3.426 EUR
Average target price
3.687 EUR
Spread / Average Target
+7.62%
Consensus
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  4. Financials Royal KPN N.V.