Company Valuation: Deutsche Telekom AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 77,318 92,667 108,156 141,518 131,476 130,148 - -
Change - 19.85% 16.71% 30.85% -7.1% -1.01% - -
Enterprise Value (EV) 1 209,460 235,092 240,435 278,845 263,994 262,372 260,580 259,504
Change - 12.24% 2.27% 15.98% -5.33% -0.61% -0.68% -0.41%
P/E 18.7x 11.6x 6.09x 12.7x 14x 13.7x 12x 10.5x
PBR 1.9x 1.91x 1.9x 2.24x 2.15x 2.01x 1.89x 1.76x
PEG - 0.1x 0x -0.3x -1.1x 29.15x 0.8x 0.7x
Capitalization / Revenue 0.71x 0.81x 0.97x 1.22x 1.1x 1.06x 1.02x 0.99x
EV / Revenue 1.93x 2.05x 2.15x 2.41x 2.22x 2.13x 2.05x 1.97x
EV / EBITDA 5.61x 5.85x 5.94x 6.48x 5.97x 5.55x 5.21x 4.93x
EV / EBIT 12.5x 11x 10.3x 10.8x 10.6x 9.31x 8.37x 7.66x
EV / FCF 23.8x 20.4x 14.9x 14.6x 13.5x 13.7x 12.3x 11.4x
FCF Yield 4.21% 4.89% 6.71% 6.87% 7.4% 7.29% 8.14% 8.77%
Dividend per Share 2 0.64 0.7 0.77 0.9 1 1.129 1.272 1.415
Rate of return 3.93% 3.76% 3.54% 3.12% 3.62% 4.17% 4.69% 5.22%
EPS 2 0.87 1.612 3.57 2.27 1.97 1.979 2.268 2.591
Distribution rate 73.6% 43.4% 21.6% 39.6% 50.8% 57.1% 56.1% 54.6%
Net sales 1 108,794 114,413 111,985 115,769 119,081 122,916 127,262 131,600
EBITDA 1 37,330 40,208 40,497 43,021 44,244 47,256 50,040 52,650
EBIT 1 16,749 21,330 23,277 25,853 24,822 28,181 31,149 33,896
Net income 1 4,176 8,001 17,788 11,209 9,609 9,702 11,327 12,348
Net Debt 1 132,142 142,425 132,279 137,327 132,518 132,225 130,432 129,356
Reference price 2 16.30 18.64 21.75 28.89 27.66 27.11 27.11 27.11
Nbr of stocks (in thousands) 4,743,456 4,971,941 4,972,701 4,898,512 4,753,303 4,800,734 - -
Announcement Date 2/24/22 A 2/23/23 A 2/23/24 A 2/26/25 A 2/26/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.7x2.13x5.55x4.17% 149B
11.39x1.32x4.09x7.04% 224B
9.11x2.38x6.37x6.47% 182B
13.45x2.04x5.15x2.39% 79.13B
12.16x0.82x3.08x6.63% 77.03B
12.03x1.75x7.5x3.57% 75.8B
15.41x2.68x8.39x5.1% 57.37B
23.9x5.38x19.65x4.48% 56.14B
16.05x1.79x5.62x4.78% 50.1B
14.78x2.63x6.04x4.6% 48.02B
Average 14.20x 2.29x 7.14x 4.92% 99.89B
Weighted average by Cap. 12.92x 2.08x 6.28x 5.36%

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 Deutsche Telekom AG