Projected Income Statement: Singapore Telecommunications Limited

Forecast Balance Sheet: Singapore Telecommunications Limited

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 12,365 9,739 9,225 7,294 8,899 6,985 7,519 7,924
Change - -21.24% -5.28% -20.93% 22% -21.5% 7.64% 5.39%
Announcement Date 26/05/21 26/05/22 24/05/23 22/05/24 21/05/25 - - -
1SGD in Million
Estimates

Cash Flow Forecast: Singapore Telecommunications Limited

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 2,214 2,217 2,162 2,150 2,133 2,447 2,187 2,115
Change - 0.12% -2.47% -0.6% -0.78% 14.71% -10.59% -3.3%
Free Cash Flow (FCF) 1 3,395 3,081 2,613 2,569 2,476 4,858 3,856 4,119
Change - -9.25% -15.18% -1.68% -3.62% 96.21% -20.63% 6.83%
Announcement Date 26/05/21 26/05/22 24/05/23 22/05/24 21/05/25 - - -
1SGD in Million
Estimates

Forecast Financial Ratios: Singapore Telecommunications Limited

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 24.49% 24.56% 25.2% 25.46% 26.81% 27.66% 28.25% 28.8%
EBIT Margin (%) 7.33% 6.81% 7.6% 8.16% 9.76% 10.65% 11.67% 12.46%
EBT Margin (%) 4.82% 17.09% 17.77% 6.8% 32.47% 36.41% 30.2% 34.4%
Net margin (%) 3.54% 12.7% 15.21% 5.63% 28.4% 19.57% 21.95% 24.34%
FCF margin (%) 21.7% 20.08% 17.87% 18.18% 17.5% 33.74% 25.88% 26.89%
FCF / Net Income (%) 613.08% 158.11% 117.43% 323.14% 61.64% 172.4% 117.9% 110.48%

Profitability

        
ROA 3.57% 4.01% 4.29% 4.88% 5.31% 5.89% 6.67% 7.68%
ROE 6.51% 7.14% 7.59% 8.88% 9.72% 10.61% 12.19% 13.79%

Financial Health

        
Leverage (Debt/EBITDA) 3.23x 2.59x 2.5x 2.03x 2.35x 1.75x 1.79x 1.8x
Debt / Free cash flow 3.64x 3.16x 3.53x 2.84x 3.59x 1.44x 1.95x 1.92x

Capital Intensity

        
CAPEX / Current Assets (%) 14.15% 14.45% 14.79% 15.22% 15.08% 16.99% 14.68% 13.81%
CAPEX / EBITDA (%) 57.79% 58.85% 58.67% 59.76% 56.24% 61.43% 51.96% 47.96%
CAPEX / FCF (%) 65.23% 71.97% 82.76% 83.67% 86.14% 50.36% 56.73% 51.35%

Items per share

        
Cash flow per share 1 0.3423 0.3201 0.2885 0.285 0.2784 0.2721 0.2863 0.3037
Change - -6.48% -9.87% -1.21% -2.33% -2.24% 5.23% 6.07%
Dividend per Share 1 0.075 0.093 0.144 0.15 0.17 0.1861 0.2017 0.2184
Change - 24% 54.84% 4.17% 13.33% 9.48% 8.37% 8.28%
Book Value Per Share 1 1.616 1.702 1.575 1.51 1.569 1.625 1.647 1.66
Change - 5.3% -7.44% -4.13% 3.9% 3.54% 1.36% 0.8%
EPS 1 0.0338 0.1176 0.134 0.0475 0.2392 0.1686 0.2004 0.2293
Change - 247.93% 13.95% -64.55% 403.58% -29.5% 18.83% 14.41%
Nbr of stocks (in thousands) 1,65,13,963 1,65,07,889 1,65,03,958 1,65,03,347 1,65,01,331 1,64,87,160 1,64,87,160 1,64,87,160
Announcement Date 26/05/21 26/05/22 24/05/23 22/05/24 21/05/25 - - -
1SGD
Estimates
2026 *2027 *
P/E ratio 26.7x 22.5x
PBR 2.78x 2.74x
EV / Sales 5.65x 5.49x
Yield 4.13% 4.47%
More valuation ratios * Estimated data

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
4.510SGD
Average target price
5.192SGD
Spread / Average Target
+15.13%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
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  4. Financials Singapore Telecommunications Limited