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

Equities

ZAIN

KW0EQ0601058

Wireless Telecommunications Services

End-of-day quote Kuwait S.E. 03:30:00 14/05/2024 am IST 5-day change 1st Jan Change
0.473 KWD -1.66% Intraday chart for Mobile Telecommunications Company K.S.C.P. -1.46% -6.71%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,596 2,622 2,575 2,436 2,194 2,047 - -
Enterprise Value (EV) 1 3,877 3,598 3,831 3,667 2,194 3,186 3,171 3,066
P/E ratio 12 x 14.1 x 13.8 x 12.5 x 10.1 x 9.12 x 8.46 x 7.86 x
Yield 5.5% 5.45% 5.55% 6.22% - 7.82% 8.08% 9.21%
Capitalization / Revenue 1.56 x 1.61 x 1.7 x 1.41 x 1.15 x 1.02 x 0.99 x 0.95 x
EV / Revenue 2.33 x 2.21 x 2.52 x 2.12 x 1.15 x 1.59 x 1.53 x 1.42 x
EV / EBITDA 5.32 x 5.34 x 6.1 x 5.45 x 3.11 x 4.34 x 4.15 x 3.88 x
EV / FCF 11.6 x 11.5 x 58.6 x 15.4 x - 17.1 x 15.8 x 10.8 x
FCF Yield 8.66% 8.68% 1.71% 6.51% - 5.84% 6.34% 9.23%
Price to Book 2 x 1.99 x 2.16 x 1.98 x - 1.19 x 1.13 x 1.08 x
Nbr of stocks (in thousands) 43,27,059 43,27,059 43,27,059 43,27,059 43,27,059 43,27,059 - -
Reference price 2 0.6000 0.6060 0.5950 0.5630 0.5070 0.4730 0.4730 0.4730
Announcement Date 13/02/20 25/02/21 10/02/22 14/03/23 07/03/24 - - -
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 1,998 2,077 2,151
EBITDA 1 728.4 673.4 627.8 673 704.8 733.5 763.4 790.5
EBIT 1 352.5 312.6 271.5 402.2 359.4 386.3 408.8 445
Operating Margin 21.22% 19.22% 17.9% 23.27% 18.83% 19.34% 19.68% 20.69%
Earnings before Tax (EBT) 1 283.6 242.3 214.8 245.9 331.8 319.8 340.7 370.2
Net income 1 216.9 185.2 185.7 196 215.5 232.4 241.5 271.7
Net margin 13.06% 11.38% 12.24% 11.34% 11.29% 11.63% 11.63% 12.63%
EPS 2 0.0500 0.0430 0.0430 0.0450 0.0500 0.0519 0.0559 0.0602
Free Cash Flow 1 335.6 312.4 65.35 238.8 - 186 201 283
FCF margin 20.21% 19.2% 4.31% 13.82% - 9.31% 9.68% 13.15%
FCF Conversion (EBITDA) 46.07% 46.39% 10.41% 35.48% - 25.36% 26.33% 35.8%
FCF Conversion (Net income) 154.7% 168.7% 35.18% 121.84% - 80.05% 83.24% 104.17%
Dividend per Share 2 0.0330 0.0330 0.0330 0.0350 - 0.0370 0.0382 0.0436
Announcement Date 13/02/20 25/02/21 10/02/22 14/03/23 07/03/24 - - -
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 Q2 2024 Q3 2024 Q4
Net sales 1 381.6 407.6 421.1 441.1 458.3 468.4 461.4 485.1 494.1 484.4 519.1 535.6
EBITDA 149.8 153.6 166.4 - 182.1 165.4 182.2 182.9 174.4 - - -
EBIT 58.78 70.73 81.42 - - 85.41 98.16 100.5 - - - -
Operating Margin 15.4% 17.35% 19.34% - - 18.24% 21.28% 20.72% - - - -
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 0.0100 0.0200 0.0200
Dividend per Share - - - - - - - - - - - -
Announcement Date 10/02/22 24/04/22 18/07/22 09/11/22 14/03/23 10/05/23 08/08/23 14/11/23 07/03/24 - - -
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 - 1,140 1,125 1,019
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.758 x 1.449 x 2.001 x 1.829 x - 1.554 x 1.473 x 1.289 x
Free Cash Flow 1 336 312 65.3 239 - 186 201 283
ROE (net income / shareholders' equity) 16.5% 14.2% 14.8% 16.2% - 16.4% 16.7% 17.7%
ROA (Net income/ Total Assets) 4.59% 3.84% 3.83% 4.02% - 4.7% 4.6% 5.3%
Assets 1 4,727 4,824 4,855 4,875 - 4,944 5,250 5,126
Book Value Per Share 2 0.3000 0.3000 0.2700 0.2800 - 0.4000 0.4200 0.4400
Cash Flow per Share 2 0.1500 0.1400 0.1000 0.1200 - 0.1600 0.1500 0.1500
Capex 1 316 307 346 260 - 333 333 335
Capex / Sales 19.04% 18.84% 22.81% 15.06% - 16.69% 16.02% 15.56%
Announcement Date 13/02/20 25/02/21 10/02/22 14/03/23 07/03/24 - - -
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
0.473 KWD
Average target price
0.6207 KWD
Spread / Average Target
+31.22%
Consensus
  1. Stock Market
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  4. Financials Mobile Telecommunications Company K.S.C.P.
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