Sayfa yüklenirken bir hata oluştu.
Teknik ekibimiz bilgilendirildi, ancak sorunun devam etmesi durumunda lütfen e-posta destek widget ile bize ulaşın.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 8,8x - 9,7x | 9,3x |
| Selected Fwd EBIT Multiple | 8,9x - 9,9x | 9,4x |
| Fair Value | €36,48 - €43,72 | €40,10 |
| Upside | 18,4% - 41,9% | 30,2% |
| Benchmarks | Ticker | Full Ticker |
| Airtel Africa Plc | AAFR.F | OTCPK:AAFR.F |
| Vodacom Group Limited | VODA.F | OTCPK:VODA.F |
| Vodafone Group Public Limited Company | VOD | NasdaqGS:VOD |
| América Móvil, S.A.B. de C.V. | AMXO.F | OTCPK:AMXO.F |
| Deutsche Telekom AG | DTEG.F | OTCPK:DTEG.F |
| Millicom International Cellular S.A. | M4M1 | DB:M4M1 |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| AAFR.F | VODA.F | VOD | AMXO.F | DTEG.F | M4M1 | ||
| OTCPK:AAFR.F | OTCPK:VODA.F | NasdaqGS:VOD | OTCPK:AMXO.F | OTCPK:DTEG.F | DB:M4M1 | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 9.5% | 7.4% | -0.1% | 6.3% | 18.2% | 24.9% | |
| 3Y CAGR | -2.4% | 11.1% | 0.6% | 7.2% | 21.7% | 49.8% | |
| Latest Twelve Months | -10.2% | 7.4% | 8.1% | 26.3% | 10.9% | 44.6% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 31.4% | 24.0% | 9.9% | 18.0% | 15.0% | 13.7% | |
| Prior Fiscal Year | 32.8% | 22.4% | 11.9% | 18.3% | 19.2% | 15.6% | |
| Latest Fiscal Year | 29.6% | 22.0% | 9.5% | 20.7% | 20.6% | 23.8% | |
| Latest Twelve Months | 29.6% | 21.7% | 10.9% | 20.5% | 20.6% | 25.4% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 2.87x | 1.72x | 1.51x | 1.98x | 2.75x | 2.07x | |
| EV / LTM EBITDA | 6.2x | 4.7x | 6.2x | 5.0x | 8.0x | 4.8x | |
| EV / LTM EBIT | 9.7x | 7.9x | 13.7x | 9.6x | 13.4x | 8.2x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 7.9x | 9.7x | 13.7x | ||||
| Historical EV / LTM EBIT | 8.1x | 11.9x | 21.7x | ||||
| Selected EV / LTM EBIT | 8.8x | 9.3x | 9.7x | ||||
| (x) LTM EBIT | 1,445 | 1,445 | 1,445 | ||||
| (=) Implied Enterprise Value | 12,745 | 13,416 | 14,086 | ||||
| (-) Non-shareholder Claims * | (6,017) | (6,017) | (6,017) | ||||
| (=) Equity Value | 6,728 | 7,399 | 8,069 | ||||
| (/) Shares Outstanding | 166.9 | 166.9 | 166.9 | ||||
| Implied Value Range | 40.32 | 44.34 | 48.35 | ||||
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | Market Price | |||
| Implied Value Range (Trading Cur) | 36.10 | 39.70 | 43.30 | 30.80 | |||
| Upside / (Downside) | 17.2% | 28.9% | 40.6% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | AAFR.F | VODA.F | VOD | AMXO.F | DTEG.F | M4M1 | |
| Enterprise Value | 16,078 | 209,376 | 56,092 | 1,649,243 | 325,894 | 11,757 | |
| (+) Cash & Short Term Investments | 628 | 28,269 | 13,070 | 97,981 | 8,478 | 534 | |
| (+) Investments & Other | 5 | 49,581 | 9,579 | 19,486 | 8,154 | 565 | |
| (-) Debt | (5,982) | (74,800) | (57,784) | (809,553) | (152,439) | (7,149) | |
| (-) Other Liabilities | (289) | (9,205) | (943) | (66,072) | (35,344) | 33 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 10,440 | 203,221 | 20,014 | 891,085 | 154,743 | 5,740 | |
| (/) Shares Outstanding | 4,167.8 | 1,935.4 | 2,472.6 | 50,580.8 | 4,881.9 | 166.9 | |
| Implied Stock Price | 2.51 | 105.00 | 8.09 | 17.62 | 31.70 | 34.40 | |
| FX Conversion Rate to Trading Currency | 1.00 | 18.26 | 0.90 | 19.39 | 0.90 | 1.12 | |
| Implied Stock Price (Trading Cur) | 2.51 | 5.75 | 9.04 | 0.91 | 35.40 | 30.80 | |
| Trading Currency | USD | USD | USD | USD | USD | EUR | |
| FX Rate to Reporting Currency | 1.00 | 18.26 | 0.90 | 19.39 | 0.90 | 1.12 | |