Company Valuation: Swisscom AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,657 26,243 26,212 26,134 29,812 32,195 - -
Change - -1.55% -0.12% -0.3% 14.07% 7.99% - -
Enterprise Value (EV) 1 34,363 33,617 33,283 41,731 45,445 47,711 47,451 46,854
Change - -2.17% -0.99% 25.38% 8.9% 4.99% -0.55% -1.26%
P/E 14.5x 16.4x 15.3x 16.9x 23.5x 23.5x 21.6x 19.7x
PBR 2.47x 2.35x 2.26x 2.15x 2.44x 2.62x 2.63x 2.6x
PEG - -1.3x 2.25x -1.71x -1.3x 3.03x 2.45x 2.03x
Capitalization / Revenue 2.38x 2.36x 2.37x 2.37x 1.98x 2.19x 2.2x 2.2x
EV / Revenue 3.07x 3.03x 3.01x 3.78x 3.02x 3.24x 3.24x 3.2x
EV / EBITDA 7.66x 7.63x 7.2x 9.58x 6.87x 7.14x 7.01x 6.8x
EV / EBIT 16.6x 16.5x 15.1x 21.4x 23.6x 22.9x 21.3x 19.6x
EV / FCF 19.5x 24.9x 22.5x 29x 31.7x 34.3x 30.5x 24.5x
FCF Yield 5.12% 4.01% 4.45% 3.44% 3.15% 2.92% 3.27% 4.08%
Dividend per Share 2 22 22 22 22 22 26.95 27.97 28.92
Rate of return 4.28% 4.34% 4.35% 4.36% 3.82% 4.34% 4.5% 4.65%
EPS 2 35.37 30.93 33.03 29.77 24.54 26.44 28.77 31.56
Distribution rate 62.2% 71.1% 66.6% 73.9% 89.6% 102% 97.2% 91.6%
Net sales 1 11,183 11,112 11,072 11,036 15,048 14,718 14,658 14,628
EBITDA 1 4,484 4,406 4,622 4,355 6,617 6,679 6,765 6,892
EBIT 1 2,066 2,040 2,205 1,951 1,925 2,082 2,226 2,392
Net income 1 1,832 1,602 1,711 1,541 1,271 1,435 1,534 1,701
Net Debt 1 7,706 7,374 7,071 15,597 15,633 15,516 15,256 14,659
Reference price 2 514.60 506.60 506.00 504.50 575.50 621.50 621.50 621.50
Nbr of stocks (in thousands) 51,802 51,802 51,802 51,802 51,802 51,802 - -
Announcement Date 03/02/22 08/02/23 07/02/24 13/02/25 12/02/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.54x1.36x4.22x6.85% 23TCr
10.32x2.49x6.59x6.02% 19TCr
13.59x2.16x4.98x4.05% 15TCr
11.92x0.86x3.23x6.67% 8.05TCr
12.01x1.75x7.48x3.59% 7.78TCr
12.37x1.95x4.94x2.56% 7.46TCr
15.38x2.73x8.58x5.07% 5.79TCr
23.84x5.35x19.55x4.52% 5.64TCr
14.36x1.78x5.5x4.8% 5.03TCr
Average 13.93x 2.27x 7.23x 4.9% 10.86TCr
Weighted average by Cap. 12.83x 2.08x 6.25x 5.3%

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