Projected Income Statement: Singapore Telecommunications Limited

Forecast Balance Sheet: Singapore Telecommunications Limited

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 12,365 9,739 9,225 7,294 8,899 6,153 6,513 6,761
Change - -21.24% -5.28% -20.93% 22% -30.85% 5.85% 3.81%
Announcement Date 26/05/21 26/05/22 24/05/23 22/05/24 21/05/25 - - -
1SGD in Million
Estimates

Cash Flow Forecast: Singapore Telecommunications Limited

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 2,214 2,217 2,162 2,150 2,133 2,428 2,211 2,167
Change - 0.12% -2.47% -0.6% -0.78% 13.83% -8.92% -1.99%
Free Cash Flow (FCF) 1 3,395 3,081 2,613 2,569 2,476 3,673 3,030 2,985
Change - -9.25% -15.18% -1.68% -3.62% 48.36% -17.5% -1.48%
Announcement Date 26/05/21 26/05/22 24/05/23 22/05/24 21/05/25 - - -
1SGD in Million
Estimates

Forecast Financial Ratios: Singapore Telecommunications Limited

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

Profitability

        
EBITDA Margin (%) 24.49% 24.56% 25.2% 25.46% 26.81% 27.62% 28.29% 28.9%
EBIT Margin (%) 7.33% 6.81% 7.6% 8.16% 9.76% 10.73% 11.61% 12.4%
EBT Margin (%) 4.82% 17.09% 17.77% 6.8% 32.47% 26.46% 29.15% 32.24%
Net margin (%) 3.54% 12.7% 15.21% 5.63% 28.4% 19.42% 21.7% 24.19%
FCF margin (%) 21.7% 20.08% 17.87% 18.18% 17.5% 25.45% 20.22% 19.35%
FCF / Net Income (%) 613.08% 158.11% 117.43% 323.14% 61.64% 131.08% 93.2% 79.99%

Profitability

        
ROA 3.57% 4.01% 4.29% 4.88% 5.31% 5.94% 6.57% 7.57%
ROE 6.51% 7.14% 7.59% 8.88% 9.72% 10.65% 12.11% 13.77%

Financial Health

        
Leverage (Debt/EBITDA) 3.23x 2.59x 2.5x 2.03x 2.35x 1.54x 1.54x 1.52x
Debt / Free cash flow 3.64x 3.16x 3.53x 2.84x 3.59x 1.68x 2.15x 2.26x

Capital Intensity

        
CAPEX / Current Assets (%) 14.15% 14.45% 14.79% 15.22% 15.08% 16.82% 14.76% 14.05%
CAPEX / EBITDA (%) 57.79% 58.85% 58.67% 59.76% 56.24% 60.89% 52.16% 48.62%
CAPEX / FCF (%) 65.23% 71.97% 82.76% 83.67% 86.14% 66.09% 72.97% 72.6%

Items per share

        
Cash flow per share 1 0.3423 0.3201 0.2885 0.285 0.2784 0.2721 0.2974 0.3093
Change - -6.48% -9.87% -1.21% -2.33% -2.24% 9.27% 4.01%
Dividend per Share 1 0.075 0.093 0.144 0.15 0.17 0.1878 0.2032 0.2196
Change - 24% 54.84% 4.17% 13.33% 10.48% 8.22% 8.06%
Book Value Per Share 1 1.616 1.702 1.575 1.51 1.569 1.597 1.65 1.662
Change - 5.3% -7.44% -4.13% 3.9% 1.77% 3.33% 0.74%
EPS 1 0.0338 0.1176 0.134 0.0475 0.2392 0.1685 0.1986 0.2282
Change - 247.93% 13.95% -64.55% 403.58% -29.56% 17.88% 14.88%
Nbr of stocks (in thousands) 16,513,963 16,507,889 16,503,958 16,503,347 16,501,331 16,452,935 16,452,935 16,452,935
Announcement Date 26/05/21 26/05/22 24/05/23 22/05/24 21/05/25 - - -
1SGD
Estimates
2026 *2027 *
P/E ratio 29.2x 24.8x
PBR 3.08x 2.98x
EV / Sales 6.03x 5.84x
Yield 3.82% 4.13%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
4.920SGD
Average target price
5.378SGD
Spread / Average Target
+9.31%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. Z74 Stock
  4. Financials Singapore Telecommunications Limited