Company Valuation: Cyfrowy Polsat S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,205 11,262 7,886 9,043 7,802 9,945 - -
Change - -49.28% -29.98% 14.68% -13.72% 27.46% - -
Enterprise Value (EV) 1 30,024 21,183 20,124 21,536 19,803 22,339 21,222 20,519
Change - -29.45% -5% 7.02% -8.05% 12.81% -5% -3.31%
P/E 5x 10.9x 21.6x 10x -2.58x 23.9x 15.2x 10.4x
PBR 1.44x 0.64x 0.44x 0.48x 0.5x 0.67x 0.56x 0.59x
PEG - -0.1x -0.3x 0x 0x -0x 0.3x 0.2x
Capitalization / Revenue 1.78x 0.87x 0.58x 0.63x 0.54x 0.67x 0.67x 0.65x
EV / Revenue 2.41x 1.64x 1.48x 1.51x 1.38x 1.52x 1.42x 1.34x
EV / EBITDA 7.47x 6.1x 6.23x 6.28x 6.56x 6.92x 6.4x 6.06x
EV / EBIT 14.2x 12.9x 15.3x 12.2x -14x 14.4x 12.9x 12.1x
EV / FCF 14.5x 23.3x 18.2x 11x 9.97x 22.7x 15.2x 13x
FCF Yield 6.91% 4.3% 5.48% 9.11% 10% 4.41% 6.58% 7.68%
Dividend per Share 2 1.2 1.2 - - - - 0.0417 0.875
Rate of return 3.46% 6.81% - - - - 0.27% 5.63%
EPS 2 6.95 1.62 0.57 1.41 -4.73 0.65 1.026 1.5
Distribution rate 17.3% 74.1% - - - - 4.06% 58.3%
Net sales 1 12,444 12,915 13,626 14,266 14,324 14,744 14,943 15,326
EBITDA 1 4,019 3,471 3,231 3,428 3,016 3,229 3,317 3,387
EBIT 1 2,116 1,642 1,312 1,766 -1,417 1,548 1,642 1,689
Net income 1 4,409 900 278.5 710.5 -2,551 504.3 588.1 867
Net Debt 1 7,819 9,920 12,238 12,493 12,000 12,394 11,277 10,574
Reference price 2 34.72 17.61 12.33 14.14 12.20 15.55 15.55 15.55
Nbr of stocks (in thousands) 6,39,546 6,39,546 6,39,546 6,39,546 6,39,546 6,39,546 - -
Announcement Date 24/03/22 19/04/23 11/04/24 10/04/25 01/05/26 - - -
1PLN in Million2PLN
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.92x1.52x6.92x-.--% 262.7Cr
11.22x1.3x4.02x7.14% 22TCr
8.75x2.32x6.22x6.7% 18TCr
12.99x2.1x5.52x4.32% 14TCr
12.86x2.02x5.09x2.42% 7.81TCr
11.75x1.73x7.42x3.66% 7.44TCr
11.88x0.77x2.87x6.79% 7.26TCr
15.52x2.7x8.46x5.07% 5.78TCr
23.68x5.34x19.51x4.52% 5.57TCr
15.35x1.8x5.61x4.96% 4.82TCr
Average 14.79x 2.16x 7.16x 4.56% 9.3TCr
Weighted average by Cap. 12.52x 2.03x 6.24x 5.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Cyfrowy Polsat S.A.