Company Valuation: Swisscom AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 26,657 26,243 26,212 26,134 29,812 33,619 - -
Change - -1.55% -0.12% -0.3% 14.07% 12.77% - -
Enterprise Value (EV) 1 34,363 33,617 33,283 41,731 45,445 49,533 49,274 48,759
Change - -2.17% -0.99% 25.38% 8.9% 9% -0.52% -1.05%
P/E ratio 14.5x 16.4x 15.3x 16.9x 23.5x 24.2x 22.4x 20.7x
PBR 2.47x 2.35x 2.26x 2.15x 2.44x 2.79x 2.83x 2.89x
PEG - -1.3x 2.25x -1.71x -1.3x 2.65x 2.82x 2.43x
Capitalization / Revenue 2.38x 2.36x 2.37x 2.37x 1.98x 2.28x 2.29x 2.3x
EV / Revenue 3.07x 3.03x 3.01x 3.78x 3.02x 3.36x 3.35x 3.34x
EV / EBITDA 7.66x 7.63x 7.2x 9.58x 6.87x 7.41x 7.26x 7.07x
EV / EBIT 16.6x 16.5x 15.1x 21.4x 23.6x 24.1x 22x 20.5x
EV / FCF 19.5x 24.9x 22.5x 29x 31.7x 35.3x 31.4x 25.7x
FCF Yield 5.12% 4.01% 4.45% 3.44% 3.15% 2.83% 3.18% 3.88%
Dividend per Share 2 22 22 22 22 22 26.88 27.82 28.77
Rate of return 4.28% 4.34% 4.35% 4.36% 3.82% 4.14% 4.29% 4.43%
EPS 2 35.37 30.93 33.03 29.77 24.54 26.78 28.92 31.38
Distribution rate 62.2% 71.1% 66.6% 73.9% 89.6% 100% 96.2% 91.7%
Net sales 1 11,183 11,112 11,072 11,036 15,048 14,746 14,710 14,614
EBITDA 1 4,484 4,406 4,622 4,355 6,617 6,682 6,786 6,895
EBIT 1 2,066 2,040 2,205 1,951 1,925 2,053 2,237 2,378
Net income 1 1,832 1,602 1,711 1,541 1,271 1,374 1,514 1,680
Net Debt 1 7,706 7,374 7,071 15,597 15,633 15,914 15,655 15,139
Reference price 2 514.60 506.60 506.00 504.50 575.50 649.00 649.00 649.00
Nbr of stocks (in thousands) 51,802 51,802 51,802 51,802 51,802 51,802 - -
Announcement Date 03/02/22 08/02/23 07/02/24 13/02/25 12/02/26 - - -
1CHF in Million2CHF
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.23x3.36x7.41x4.14% 42.31B
11.74x1.38x4.27x6.83% 231B
9.43x2.42x6.48x6.23% 189B
13.79x2.16x5.67x4.09% 154B
12.77x0.85x3.16x6.22% 78.86B
12.1x1.96x4.93x2.54% 74.63B
11.51x1.68x6.89x3.65% 74.18B
15.64x2.72x8.53x5.05% 58.05B
16.33x5.28x19.14x4.4% 54.57B
17.11x1.97x6.14x4.51% 53.54B
Average 14.47x 2.38x 7.26x 4.77% 101.08B
Weighted average by Cap. 12.99x 2.12x 6.33x 5.23%

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