Financials Proximus SA

Equities

PROX

BE0003810273

Integrated Telecommunications Services

Market Closed - Euronext Bruxelles 11:35:26 2024-04-26 am EDT 5-day change 1st Jan Change
7.03 EUR +3.38% Intraday chart for Proximus SA -4.61% -17.39%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,235 5,228 5,531 2,903 2,749 2,268 - -
Enterprise Value (EV) 1 10,733 7,873 8,544 5,933 6,178 5,822 5,742 5,588
P/E ratio 22 x 9.26 x 12.5 x 6.43 x 7.67 x 6.26 x 6.26 x 6.92 x
Yield 5.88% 7.4% 7% 13.3% 14.1% 8.53% 8.53% 8.58%
Capitalization / Revenue 1.45 x 0.95 x 0.99 x 0.49 x 0.46 x 0.37 x 0.36 x 0.36 x
EV / Revenue 1.89 x 1.44 x 1.53 x 1 x 1.02 x 0.94 x 0.91 x 0.9 x
EV / EBITDA 5.74 x 4.29 x 4.82 x 3.32 x 3.52 x 3.21 x 3.14 x 3.05 x
EV / FCF 21.6 x 22.4 x 36 x 35.5 x 37 x 19.5 x 14.4 x 14 x
FCF Yield 4.64% 4.47% 2.77% 2.81% 2.7% 5.14% 6.96% 7.16%
Price to Book 2.89 x 1.8 x 1.86 x 0.88 x 0.83 x 0.69 x 0.66 x 0.64 x
Nbr of stocks (in thousands) 322,704 322,531 322,673 322,690 323,060 322,624 - -
Reference price 2 25.52 16.21 17.14 8.996 8.510 7.030 7.030 7.030
Announcement Date 2/21/20 2/26/21 2/18/22 2/18/23 2/23/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,686 5,479 5,578 5,909 6,042 6,207 6,278 6,241
EBITDA 1 1,870 1,836 1,772 1,786 1,757 1,812 1,831 1,831
EBIT 1 556 805 645 647 601 614.7 625.2 622.8
Operating Margin 9.78% 14.69% 11.56% 10.95% 9.95% 9.9% 9.96% 9.98%
Earnings before Tax (EBT) 1 508 756 581 578 461 493 490.9 357.7
Net income 1 373 564 443 450 357 364.3 366 332.3
Net margin 6.56% 10.29% 7.94% 7.62% 5.91% 5.87% 5.83% 5.33%
EPS 2 1.160 1.750 1.370 1.400 1.110 1.123 1.123 1.016
Free Cash Flow 1 498 352 237 167 167 299 399.6 400.3
FCF margin 8.76% 6.42% 4.25% 2.83% 2.76% 4.82% 6.36% 6.41%
FCF Conversion (EBITDA) 26.63% 19.17% 13.37% 9.35% 9.5% 16.51% 21.82% 21.86%
FCF Conversion (Net income) 133.51% 62.41% 53.5% 37.11% 46.78% 82.08% 109.18% 120.45%
Dividend per Share 2 1.500 1.200 1.200 1.200 1.200 0.6000 0.6000 0.6030
Announcement Date 2/21/20 2/26/21 2/18/22 2/18/23 2/23/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 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 - - 1,401 1,441 1,404 1,437 1,511 1,558 1,486 1,495 1,527 1,534 1,503 1,516 1,545 1,535 -
EBITDA 1 - - 457 409 448 463 460 415 432 446 458 421 444 - - - -
EBIT 1 - - 168 130 173 178 180 116 153 149 158 140 152.7 150.4 147.7 131.7 -
Operating Margin - - 11.99% 9.02% 12.32% 12.39% 11.91% 7.45% 10.3% 9.97% 10.35% 9.13% 10.16% 9.93% 9.56% 8.58% -
Earnings before Tax (EBT) - - 154 - - 160 163 96 - - - - - - - - -
Net income 1 - - 116 87 120 122 126 81 95 94 79 90 96.34 107 100.7 71.64 -
Net margin - - 8.28% 6.04% 8.55% 8.49% 8.34% 5.2% 6.39% 6.29% 5.17% 5.87% 6.41% 7.06% 6.52% 4.67% -
EPS 2 - - 0.3600 0.2700 0.3700 0.3800 0.3900 0.2500 0.2900 0.2900 0.2500 0.2800 0.1600 0.1600 0.0900 0.1500 -
Dividend per Share 2 - 0.7000 0.5000 0.7000 - - 0.5000 - - - - 1.200 - - - 0.6000 -
Announcement Date 8/1/20 2/26/21 10/29/21 2/18/22 4/29/22 7/29/22 10/28/22 2/18/23 5/1/23 7/28/23 10/27/23 2/23/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,498 2,645 3,013 3,030 3,429 3,554 3,474 3,320
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.336 x 1.441 x 1.7 x 1.697 x 1.952 x 1.962 x 1.897 x 1.813 x
Free Cash Flow 1 498 352 237 167 167 299 400 400
ROE (net income / shareholders' equity) 12.7% 19.6% 15.1% 14.3% 10.8% 10.9% 10.5% 9.55%
ROA (Net income/ Total Assets) 4.16% 6.35% 4.92% 4.52% 3.29% 2.56% 2.77% 2.37%
Assets 1 8,962 8,879 9,006 9,963 10,847 14,220 13,202 14,035
Book Value Per Share 2 8.840 9.010 9.230 10.30 10.20 10.20 10.60 11.00
Cash Flow per Share 2 5.120 4.690 5.020 5.320 5.020 4.740 4.720 4.970
Capex 1 1,091 1,089 1,137 1,441 1,453 1,247 1,154 1,109
Capex / Sales 19.19% 19.88% 20.38% 24.39% 24.05% 20.09% 18.39% 17.78%
Announcement Date 2/21/20 2/26/21 2/18/22 2/18/23 2/23/24 - - -
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
17
Last Close Price
7.03 EUR
Average target price
9.55 EUR
Spread / Average Target
+35.85%
Consensus
  1. Stock Market
  2. Equities
  3. PROX Stock
  4. Financials Proximus SA