CYFROWY POLSAT S.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 12.03 PLN | -2.98% |
|
-8.13% | -2.43% |
| May. 23 | Transcript : Cyfrowy Polsat S.A., Q1 2024 Earnings Call, May 23, 2024 | |
| May. 22 | Cyfrowy Polsat S.A. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 17,869 | 19,365 | 22,205 | 11,262 | 7,886 | 7,930 | - | - |
| Enterprise Value (EV) 1 | 30,076 | 31,211 | 30,024 | 21,183 | 7,886 | 21,149 | 21,767 | 21,737 |
| P/E ratio | 16.1 x | 16.9 x | 5 x | 10.9 x | 21.6 x | 45.9 x | 17.9 x | 13.8 x |
| Yield | 3.33% | 3.07% | 3.46% | 6.81% | - | - | - | - |
| Capitalization / Revenue | 1.53 x | 1.62 x | 1.78 x | 0.87 x | 0.58 x | 0.55 x | 0.53 x | 0.51 x |
| EV / Revenue | 2.58 x | 2.61 x | 2.41 x | 1.64 x | 0.58 x | 1.46 x | 1.47 x | 1.4 x |
| EV / EBITDA | 7.17 x | 7.45 x | 7.47 x | 6.1 x | 2.44 x | 6.33 x | 5.98 x | 5.65 x |
| EV / FCF | 11.5 x | 13.9 x | 14.5 x | 23.3 x | - | 23.2 x | 26 x | 25.6 x |
| FCF Yield | 8.71% | 7.19% | 6.91% | 4.3% | - | 4.32% | 3.85% | 3.91% |
| Price to Book | 1.29 x | 1.34 x | 1.44 x | 0.64 x | - | 0.51 x | 0.46 x | 0.49 x |
| Nbr of stocks (in thousands) | 639,546 | 639,546 | 639,546 | 639,546 | 639,546 | 639,546 | - | - |
| Reference price 2 | 27.94 | 30.28 | 34.72 | 17.61 | 12.33 | 12.40 | 12.40 | 12.40 |
| Announcement Date | 3/12/20 | 3/25/21 | 3/24/22 | 4/19/23 | 4/11/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,676 | 11,963 | 12,444 | 12,915 | 13,626 | 14,533 | 14,840 | 15,564 |
| EBITDA 1 | 4,197 | 4,192 | 4,019 | 3,471 | 3,231 | 3,342 | 3,642 | 3,847 |
| EBIT 1 | 1,967 | 1,886 | 2,116 | 1,642 | 1,312 | 1,336 | 1,607 | 1,803 |
| Operating Margin | 16.85% | 15.77% | 17% | 12.72% | 9.63% | 9.19% | 10.83% | 11.59% |
| Earnings before Tax (EBT) 1 | 1,468 | 1,442 | 5,666 | 1,110 | 421.8 | 238.5 | 506.2 | 740 |
| Net income 1 | 1,101 | 1,142 | 4,409 | 900 | 278.5 | 157 | 391.9 | 537.5 |
| Net margin | 9.43% | 9.54% | 35.43% | 6.97% | 2.04% | 1.08% | 2.64% | 3.45% |
| EPS 2 | 1.740 | 1.790 | 6.950 | 1.620 | 0.5700 | 0.2700 | 0.6933 | 0.9000 |
| Free Cash Flow 1 | 2,621 | 2,245 | 2,076 | 910.2 | - | 913.5 | 837 | 850.2 |
| FCF margin | 22.45% | 18.77% | 16.68% | 7.05% | - | 6.29% | 5.64% | 5.46% |
| FCF Conversion (EBITDA) | 62.44% | 53.56% | 51.64% | 26.22% | - | 27.34% | 22.98% | 22.1% |
| FCF Conversion (Net income) | 238.12% | 196.68% | 47.08% | 101.13% | - | 581.85% | 213.6% | 158.17% |
| Dividend per Share 2 | 0.9300 | 0.9300 | 1.200 | 1.200 | - | - | - | - |
| Announcement Date | 3/12/20 | 3/25/21 | 3/24/22 | 4/19/23 | 4/11/24 | - | - | - |
1PLN in Million2PLN
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 | 3,265 | 2,987 | 3,228 | 3,271 | 3,430 | 3,199 | 3,290 | 3,456 | 3,682 | 3,405 |
| EBITDA 1 | 891.2 | 766.6 | 893.3 | 953 | 858.3 | 761.2 | 798.5 | 774.7 | 676.7 | 936.3 |
| EBIT 1 | 430 | 320.3 | 425.8 | 500.9 | 395.2 | 298.7 | 329.8 | 510.9 | 172.2 | 452.7 |
| Operating Margin | 13.17% | 10.72% | 13.19% | 15.31% | 11.52% | 9.34% | 10.02% | 14.78% | 4.68% | 13.3% |
| Earnings before Tax (EBT) 1 | 428.9 | 265.1 | - | - | - | 84.1 | 40.2 | - | 126.4 | 270.6 |
| Net income 1 | 337.5 | 214.9 | - | - | - | 64.5 | -7.3 | 120.8 | 100.5 | 180.1 |
| Net margin | 10.34% | 7.2% | - | - | - | 2.02% | -0.22% | 3.5% | 2.73% | 5.29% |
| EPS | 0.5400 | 0.3700 | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/24/22 | 5/11/22 | 8/17/22 | 11/14/22 | 4/19/23 | 5/15/23 | 8/16/23 | 11/8/23 | 4/11/24 | 5/22/24 |
1PLN in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 12,207 | 11,846 | 7,819 | 9,920 | - | 13,218 | 13,837 | 13,806 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.909 x | 2.826 x | 1.946 x | 2.858 x | - | 3.956 x | 3.799 x | 3.589 x |
| Free Cash Flow 1 | 2,621 | 2,245 | 2,076 | 910 | - | 914 | 837 | 850 |
| ROE (net income / shareholders' equity) | 8.14% | 8.08% | 29.6% | 5.87% | - | 1.5% | 3.79% | 3.8% |
| ROA (Net income/ Total Assets) | 3.48% | 3.47% | 13.5% | 2.79% | - | 1.2% | 2.4% | - |
| Assets 1 | 31,643 | 32,899 | 32,676 | 32,272 | - | 13,083 | 16,328 | - |
| Book Value Per Share 2 | 21.60 | 22.60 | 24.10 | 27.40 | - | 24.20 | 26.80 | 25.10 |
| Cash Flow per Share | 5.430 | - | - | - | - | - | - | - |
| Capex 1 | 1,354 | 1,345 | 2,765 | 1,900 | - | 2,634 | 2,168 | 2,286 |
| Capex / Sales | 11.6% | 11.24% | 22.22% | 14.71% | - | 18.12% | 14.61% | 14.69% |
| Announcement Date | 3/12/20 | 3/25/21 | 3/24/22 | 4/19/23 | 4/11/24 | - | - | - |
1PLN in Million2PLN
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-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
6
Last Close Price
12.4
PLN
Average target price
13.57
PLN
Spread / Average Target
+9.41%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +0.57% | 1.97B | |
| +14.43% | 209B | |
| +7.19% | 170B | |
| +3.95% | 120B | |
| -12.65% | 81B | |
| +14.97% | 71.74B | |
| -1.33% | 52.2B | |
| -6.81% | 50.06B | |
| -28.97% | 39.76B | |
| -17.72% | 38.26B |
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- Financials Cyfrowy Polsat S.A.
