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 5,776 5,897 6,036
Change - -21.24% -5.28% -20.93% 22% -35.09% 2.09% 2.36%
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 2,455 2,202 2,143
Change - 0.12% -2.47% -0.6% -0.78% 15.12% -10.31% -2.71%
Free Cash Flow (FCF) 1 3,395 3,081 2,613 2,569 2,476 4,248 3,657 3,536
Change - -9.25% -15.18% -1.68% -3.62% 71.57% -13.92% -3.31%
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% 27.58% 28.31% 28.97%
EBIT Margin (%) 7.33% 6.81% 7.6% 8.16% 9.76% 10.79% 11.61% 12.43%
EBT Margin (%) 4.82% 17.09% 17.77% 6.8% 32.47% 26.41% 29.08% 32.14%
Net margin (%) 3.54% 12.7% 15.21% 5.63% 28.4% 19.38% 21.65% 24.12%
FCF margin (%) 21.7% 20.08% 17.87% 18.18% 17.5% 29.37% 24.35% 22.85%
FCF / Net Income (%) 613.08% 158.11% 117.43% 323.14% 61.64% 151.59% 112.47% 94.75%

Profitability

        
ROA 3.57% 4.01% 4.29% 4.88% 5.31% 5.97% 6.6% 7.55%
ROE 6.51% 7.14% 7.59% 8.88% 9.72% 10.68% 12.02% 13.71%

Financial Health

        
Leverage (Debt/EBITDA) 3.23x 2.59x 2.5x 2.03x 2.35x 1.45x 1.39x 1.35x
Debt / Free cash flow 3.64x 3.16x 3.53x 2.84x 3.59x 1.36x 1.61x 1.71x

Capital Intensity

        
CAPEX / Current Assets (%) 14.15% 14.45% 14.79% 15.22% 15.08% 16.98% 14.66% 13.85%
CAPEX / EBITDA (%) 57.79% 58.85% 58.67% 59.76% 56.24% 61.55% 51.79% 47.8%
CAPEX / FCF (%) 65.23% 71.97% 82.76% 83.67% 86.14% 57.8% 60.22% 60.59%

Items per share

        
Cash flow per share 1 0.3423 0.3201 0.2885 0.285 0.2784 0.2722 0.2973 0.3092
Change - -6.48% -9.87% -1.21% -2.33% -2.21% 9.2% 4.03%
Dividend per Share 1 0.075 0.093 0.144 0.15 0.17 0.1887 0.2043 0.2206
Change - 24% 54.84% 4.17% 13.33% 11.01% 8.26% 7.98%
Book Value Per Share 1 1.616 1.702 1.575 1.51 1.569 1.628 1.668 1.682
Change - 5.3% -7.44% -4.13% 3.9% 3.78% 2.41% 0.84%
EPS 1 0.0338 0.1176 0.134 0.0475 0.2392 0.2627 0.1981 0.2288
Change - 247.93% 13.95% -64.55% 403.58% 9.81% -24.57% 15.51%
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 1,64,26,070 1,64,26,070 1,64,26,070
Announcement Date 26/05/21 26/05/22 24/05/23 22/05/24 21/05/25 - - -
1SGD
Estimates
2026 *2027 *
P/E ratio 18.5x 24.6x
PBR 2.99x 2.92x
EV / Sales 5.93x 5.72x
Yield 3.87% 4.2%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
4.870SGD
Average target price
5.409SGD
Spread / Average Target
+11.07%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. Z74 Stock
  4. Financials Singapore Telecommunications Limited