Financials Kuwait Telecommunications Company K.S.C.P.

Equities

STC

KW0EQB010084

Wireless Telecommunications Services

End-of-day quote Kuwait S.E. 06:00:00 2024-05-29 pm EDT 5-day change 1st Jan Change
0.575 KWD +6.28% Intraday chart for Kuwait Telecommunications Company K.S.C.P. +5.50% +2.13%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 393.5 425.5 427 584.3 562.3 574.3 - -
Enterprise Value (EV) 1 393.5 360.4 366.8 528.3 562.3 574.3 574.3 574.3
P/E ratio 9.06 x 13.3 x 9.5 x 17.7 x 17.1 x 19.2 x 14.4 x 14.4 x
Yield 6.35% 7.04% 7.02% 5.13% - 5.22% 6.96% 6.96%
Capitalization / Revenue 1.34 x 1.5 x 1.44 x 1.74 x 1.6 x 1.62 x 1.59 x 1.55 x
EV / Revenue 1.34 x 1.5 x 1.44 x 1.74 x 1.6 x 1.62 x 1.59 x 1.55 x
EV / EBITDA 4.77 x 5.15 x 5.4 x 7.17 x 6.74 x 6.76 x 6.53 x 6.31 x
EV / FCF 11 x 10.9 x 10.4 x 10.7 x 7.77 x 14 x 11.5 x 10.4 x
FCF Yield 9.11% 9.14% 9.65% 9.32% 12.9% 7.14% 8.71% 9.58%
Price to Book 1.83 x 1.94 x 1.82 x 2.42 x 2.31 x 2.3 x 2.21 x 2.13 x
Nbr of stocks (in thousands) 998,734 998,734 998,734 998,734 998,734 998,734 - -
Reference price 2 0.3940 0.4260 0.4275 0.5850 0.5630 0.5750 0.5750 0.5750
Announcement Date 2/4/20 2/4/21 2/3/22 2/8/23 2/6/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 293.7 283.2 296.3 336.4 351.4 354 362 371
EBITDA 1 82.55 82.55 79.02 81.46 83.37 85 88 91
EBIT 1 44.81 33.78 33.04 30.62 33.23 37 40 46
Operating Margin 15.26% 11.93% 11.15% 9.1% 9.46% 10.45% 11.05% 12.4%
Earnings before Tax (EBT) 1 45.98 34 47.05 34.96 34.56 36 40 47
Net income 1 43.6 32.09 44.87 33.21 32.68 35 38 44
Net margin 14.85% 11.33% 15.14% 9.87% 9.3% 9.89% 10.5% 11.86%
EPS 2 0.0435 0.0320 0.0450 0.0330 0.0330 0.0300 0.0400 0.0400
Free Cash Flow 1 35.85 38.9 41.2 54.46 72.39 41 50 55
FCF margin 12.2% 13.74% 13.9% 16.19% 20.6% 11.58% 13.81% 14.82%
FCF Conversion (EBITDA) 43.42% 47.12% 52.14% 66.86% 86.84% 48.24% 56.82% 60.44%
FCF Conversion (Net income) 82.21% 121.19% 91.82% 163.99% 221.54% 117.14% 131.58% 125%
Dividend per Share 2 0.0250 0.0300 0.0300 0.0300 - 0.0300 0.0400 0.0400
Announcement Date 2/4/20 2/4/21 2/3/22 2/8/23 2/6/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1
Net sales 1 82.52 76.85 76.94 95.61 86.97 86.62 87.95 85.27 91.54 87.36
EBITDA 1 22.44 20.13 19.74 21.87 19.72 21.43 20.33 20.65 21.86 22.19
EBIT 1 - 7.829 6.96 8.278 - 8.435 8.511 8.512 8.68 9.676
Operating Margin - 10.19% 9.05% 8.66% - 9.74% 9.68% 9.98% 9.48% 11.08%
Earnings before Tax (EBT) - - - - - - - - - -
Net income 1 21.09 - - - - 8.249 7.805 8.327 8.297 8.823
Net margin 25.56% - - - - 9.52% 8.87% 9.77% 9.06% 10.1%
EPS - - - - - - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 2/3/22 4/26/22 7/25/22 11/1/22 2/8/23 5/4/23 7/18/23 10/23/23 2/6/24 5/5/24
1KWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - 65 60.2 56 - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 35.8 38.9 41.2 54.5 72.4 41 50 55
ROE (net income / shareholders' equity) 21.4% 14.7% 20.4% 13.9% 13.5% 14% 15.1% 16.9%
ROA (Net income/ Total Assets) 12.5% 8.39% 12.2% 8.12% 7.49% 7.9% 8.6% 9.9%
Assets 1 348.2 382.7 367.4 409.1 436 443 441.9 444.4
Book Value Per Share 2 0.2200 0.2200 0.2400 0.2400 0.2400 0.2500 0.2600 0.2700
Cash Flow per Share - - - - - - - -
Capex 1 58.5 26.2 27.4 18.5 19.9 40 33 32
Capex / Sales 19.93% 9.25% 9.23% 5.5% 5.67% 11.3% 9.12% 8.63%
Announcement Date 2/4/20 2/4/21 2/3/22 2/8/23 2/6/24 - - -
1KWD in Million2KWD
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
0.575 KWD
Average target price
0.615 KWD
Spread / Average Target
+6.96%
Consensus

Quarterly revenue - Rate of surprise

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