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

Equities

ZAIN

KW0EQ0601058

Wireless Telecommunications Services

End-of-day quote Kuwait S.E. 06:00:00 2024-07-10 pm EDT 5-day change 1st Jan Change
0.457 KWD +1.56% Intraday chart for Mobile Telecommunications Company K.S.C.P. +1.56% -9.86%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,596 2,622 2,575 2,436 2,194 1,977 - -
Enterprise Value (EV) 1 3,877 3,598 3,831 3,667 3,355 3,159 3,137 3,068
P/E ratio 12 x 14.1 x 13.8 x 12.5 x 10.1 x 10.8 x 8.32 x 7.45 x
Yield 5.5% 5.45% 5.55% 6.22% 6.9% 8.05% 8.1% 9.67%
Capitalization / Revenue 1.56 x 1.61 x 1.7 x 1.41 x 1.15 x 1.02 x 0.97 x 0.95 x
EV / Revenue 2.33 x 2.21 x 2.52 x 2.12 x 1.76 x 1.63 x 1.54 x 1.47 x
EV / EBITDA 5.32 x 5.34 x 6.1 x 5.45 x 4.76 x 4.53 x 4.21 x 3.95 x
EV / FCF 11.6 x 11.5 x 58.6 x 15.4 x 13.5 x 20.2 x 15.6 x 10.8 x
FCF Yield 8.66% 8.68% 1.71% 6.51% 7.39% 4.94% 6.42% 9.22%
Price to Book 2 x 1.99 x 2.16 x 1.98 x 1.12 x 1.61 x 1.1 x 1.04 x
Nbr of stocks (in thousands) 4,327,059 4,327,059 4,327,059 4,327,059 4,327,059 4,327,059 - -
Reference price 2 0.6000 0.6060 0.5950 0.5630 0.5070 0.4570 0.4570 0.4570
Announcement Date 2/13/20 2/25/21 2/10/22 3/14/23 3/7/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,661 1,627 1,517 1,728 1,909 1,941 2,033 2,092
EBITDA 1 728.4 673.4 627.8 673 704.8 697.5 744.9 776.6
EBIT 1 352.5 312.6 271.5 402.2 359.4 352.3 398.5 436.2
Operating Margin 21.22% 19.22% 17.9% 23.27% 18.83% 18.15% 19.6% 20.85%
Earnings before Tax (EBT) 1 283.6 242.3 214.8 245.9 331.8 254.5 329 360.2
Net income 1 216.9 185.2 185.7 196 215.5 189.8 229.5 245.1
Net margin 13.06% 11.38% 12.24% 11.34% 11.29% 9.78% 11.29% 11.72%
EPS 2 0.0500 0.0430 0.0430 0.0450 0.0500 0.0422 0.0549 0.0613
Free Cash Flow 1 335.6 312.4 65.35 238.8 248.1 156 201.5 283
FCF margin 20.21% 19.2% 4.31% 13.82% 13% 8.04% 9.91% 13.53%
FCF Conversion (EBITDA) 46.07% 46.39% 10.41% 35.48% 35.2% 22.37% 27.05% 36.44%
FCF Conversion (Net income) 154.7% 168.7% 35.18% 121.84% 115.13% 82.19% 87.79% 115.45%
Dividend per Share 2 0.0330 0.0330 0.0330 0.0350 0.0350 0.0368 0.0370 0.0442
Announcement Date 2/13/20 2/25/21 2/10/22 3/14/23 3/7/24 - - -
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 2024 Q2 2024 Q3 2024 Q4
Net sales 1 381.6 407.6 421.1 441.1 458.3 468.4 461.4 485.1 494.1 466.1 473.3 516.6 515.9
EBITDA 1 149.8 153.6 166.4 - 182.1 165.4 182.2 182.9 174.4 147.7 162.5 - -
EBIT 1 58.78 70.73 81.42 - - 85.41 98.16 100.5 - 63.85 70 - -
Operating Margin 15.4% 17.35% 19.34% - - 18.24% 21.28% 20.72% - 13.7% 14.79% - -
Earnings before Tax (EBT) - - - - - - 74.07 - - - - - -
Net income 50.33 - 50.41 - - - 57.49 60.49 - - - - -
Net margin 13.19% - 11.97% - - - 12.46% 12.47% - - - - -
EPS 2 0.0120 0.0110 0.0120 0.0130 0.0100 0.0130 0.0130 0.0140 0.0100 0.007000 0.0100 0.0100 0.0100
Dividend per Share - - - - - - - - - - - - -
Announcement Date 2/10/22 4/24/22 7/18/22 11/9/22 3/14/23 5/10/23 8/8/23 11/14/23 3/7/24 5/14/24 - - -
1KWD in Million2KWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,280 976 1,256 1,231 1,161 1,181 1,159 1,091
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.758 x 1.449 x 2.001 x 1.829 x 1.647 x 1.693 x 1.556 x 1.404 x
Free Cash Flow 1 336 312 65.3 239 248 156 202 283
ROE (net income / shareholders' equity) 16.5% 14.2% 14.8% 16.2% 17.4% 14.1% 16.7% 17.6%
ROA (Net income/ Total Assets) 4.59% 3.84% 3.83% 4.02% 4.33% 4.7% 4.6% 5.3%
Assets 1 4,727 4,824 4,855 4,875 4,973 4,039 4,990 4,625
Book Value Per Share 2 0.3000 0.3000 0.2700 0.2800 0.4500 0.2800 0.4200 0.4400
Cash Flow per Share 2 0.1500 0.1400 0.1000 0.1200 0.1300 0.1300 0.1500 0.1500
Capex 1 316 307 346 260 294 272 323 329
Capex / Sales 19.04% 18.84% 22.81% 15.06% 15.4% 14.02% 15.89% 15.73%
Announcement Date 2/13/20 2/25/21 2/10/22 3/14/23 3/7/24 - - -
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
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
0.457 KWD
Average target price
0.5784 KWD
Spread / Average Target
+26.56%
Consensus
  1. Stock Market
  2. Equities
  3. ZAIN Stock
  4. Financials Mobile Telecommunications Company K.S.C.P.