Financials SKY Network Television Limited Australian S.E.

Equities

SKT

NZSKTE0001S6

Broadcasting

Market Closed - Australian S.E. Other stock markets 07:10:57 27/06/2024 BST			5-day change	1st Jan Change
2.11 ^AUD	-7.46%		-4.09%	-17.25%

06-04	Sky Network Television Suspends Buyback Program Ahead of Earnings Report	MT
06-03	Sky Network Pauses Share Buyback Until FY2024 Results Release in August	MT

Valuation

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	459.2	261.9	304	412.3	351	323.5	-	-
Enterprise Value (EV) ¹	648.6	363.8	271.3	274.4	294.9	268	259.2	241.7
P/E ratio	-0.76 x	-0.63 x	6.44 x	6.63 x	7.54 x	6.56 x	6.4 x	5.94 x
Yield	6.36%	-	-	3.09%	6.15%	7.55%	8.66%	10.8%
Capitalization / Revenue	0.58 x	0.35 x	0.42 x	0.56 x	0.47 x	0.42 x	0.41 x	0.4 x
EV / Revenue	0.82 x	0.49 x	0.37 x	0.37 x	0.39 x	0.35 x	0.33 x	0.3 x
EV / EBITDA	2.69 x	1.89 x	1.46 x	1.78 x	1.89 x	1.7 x	1.57 x	1.41 x
EV / FCF	6.38 x	4.31 x	4.83 x	3.66 x	6.46 x	2.91 x	4.98 x	3.72 x
FCF Yield	15.7%	23.2%	20.7%	27.3%	15.5%	34.3%	20.1%	26.9%
Price to Book	1.31 x	0.26 x	0.72 x	0.84 x	0.8 x	0.73 x	0.7 x	0.67 x
Nbr of stocks (in thousands)	38,914	174,628	174,688	174,688	143,852	137,675	-	-
Reference price ²	11.80	1.500	1.740	2.360	2.440	2.350	2.350	2.350
Announcement Date	21/08/19	09/09/20	24/08/21	24/08/22	23/08/23	-	-	-

¹NZD in Million²NZD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	795.1	747.6	724.8	736.1	754.1	773.9	791.9	808.5
EBITDA ¹	241	192.4	185.9	154	156.4	157.8	165.5	171.6
EBIT ¹	148	73.1	77.9	73.5	82.3	72.49	77.01	82.09
Operating Margin	18.61%	9.78%	10.75%	9.98%	10.91%	9.37%	9.72%	10.15%
Earnings before Tax (EBT) ¹	-583.4	-146.3	67.89	80.75	70.9	70.04	71.29	76.57
Net income ¹	-608.2	-157	47.23	62.2	50.75	50.59	51.38	54.85
Net margin	-76.49%	-21%	6.52%	8.45%	6.73%	6.54%	6.49%	6.78%
EPS ²	-15.63	-2.391	0.2700	0.3557	0.3237	0.3584	0.3670	0.3957
Free Cash Flow ¹	101.7	84.49	56.14	74.96	45.64	92	52	65
FCF margin	12.79%	11.3%	7.75%	10.18%	6.05%	11.89%	6.57%	8.04%
FCF Conversion (EBITDA)	42.19%	43.91%	30.2%	48.67%	29.18%	58.3%	31.41%	37.88%
FCF Conversion (Net income)	-	-	118.86%	120.51%	89.93%	181.87%	101.21%	118.5%
Dividend per Share ²	0.7500	-	-	0.0730	0.1500	0.1775	0.2035	0.2533
Announcement Date	21/08/19	09/09/20	24/08/21	24/08/22	23/08/23	-	-	-

¹NZD in Million²NZD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2023 S1
Net sales ¹	378.6
EBITDA ¹	73.7
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share ²	0.0600
Announcement Date	23/02/23

¹NZD in Million²NZD

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	189	102	-	-	-	-	-	-
Net Cash position ¹	-	-	32.6	138	56.1	55.6	64.4	81.8
Leverage (Debt/EBITDA)	0.7858 x	0.5293 x	-	-	-	-	-	-
Free Cash Flow ¹	102	84.5	56.1	75	45.6	92	52	65
ROE (net income / shareholders' equity)	14.2%	11.3%	11.9%	13.6%	10.9%	11.3%	11.4%	11.8%
ROA (Net income/ Total Assets)	8.57%	5.1%	6.13%	8.43%	6.92%	9.3%	9.19%	9.24%
Assets ¹	-7,100	-3,081	770.7	737.6	733.5	543.7	559.2	593.9
Book Value Per Share ²	9.000	5.700	2.420	2.820	3.050	3.230	3.380	3.510
Cash Flow per Share ²	4.580	2.400	0.6100	0.6900	0.7500	1.090	1.030	1.090
Capex ¹	76.3	72.8	51.1	44.7	71.4	91	70.8	68
Capex / Sales	9.6%	9.74%	7.05%	6.07%	9.47%	11.75%	8.94%	8.42%
Announcement Date	21/08/19	09/09/20	24/08/21	24/08/22	23/08/23	-	-	-

¹NZD in Million²NZD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for SKY Network Television Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2.35 NZD

Average target price

2.933 NZD

Spread / Average Target

+24.80%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

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