Company Valuation: Deutsche Telekom AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 77,318 92,667 108,156 141,518 131,476 158,283 - -
Change - 19.85% 16.71% 30.85% -7.1% 20.39% - -
Enterprise Value (EV) 1 209,460 235,092 240,435 278,845 131,476 289,093 283,537 303,281
Change - 12.24% 2.27% 15.98% -52.85% 119.88% -1.92% 6.96%
P/E ratio 18.7x 11.6x 6.09x 12.7x 14x 16.2x 14.9x 13.3x
PBR 1.9x 1.91x 1.9x 2.24x - 2.1x 2.2x 2.23x
PEG - 0.1x 0x -0.3x -1.1x 6.3x 1.61x 1.2x
Capitalization / Revenue 0.71x 0.81x 0.97x 1.22x 1.1x 1.29x 1.26x 1.2x
EV / Revenue 1.93x 2.05x 2.15x 2.41x 1.1x 2.35x 2.25x 2.3x
EV / EBITDA 5.61x 5.85x 5.94x 6.48x 2.97x 5.47x 5.04x 5.09x
EV / EBIT 12.5x 11x 10.3x 10.8x 5.3x 10.8x 9.25x 9.31x
EV / FCF 23.8x 20.4x 14.9x 14.6x - 14.6x 13.2x 14x
FCF Yield 4.21% 4.89% 6.71% 6.87% - 6.85% 7.59% 7.16%
Dividend per Share 2 0.64 0.7 0.77 0.9 - 1.127 1.273 1.453
Rate of return 3.93% 3.76% 3.54% 3.12% - 3.44% 3.88% 4.43%
EPS 2 0.87 1.612 3.57 2.27 1.97 2.021 2.207 2.459
Distribution rate 73.6% 43.4% 21.6% 39.6% - 55.8% 57.7% 59.1%
Net sales 1 108,794 114,413 111,985 115,769 119,081 122,812 125,925 131,961
EBITDA 1 37,330 40,208 40,497 43,021 44,244 52,839 56,265 59,632
EBIT 1 16,749 21,330 23,277 25,853 24,822 26,692 30,649 32,582
Net income 1 4,176 8,001 17,788 11,209 9,609 9,367 10,817 11,687
Net Debt 1 132,142 142,425 132,279 137,327 - 130,810 125,254 144,998
Reference price 2 16.30 18.64 21.75 28.89 27.66 32.80 32.80 32.80
Nbr of stocks (in thousands) 4,743,456 4,971,941 4,972,701 4,898,512 4,753,303 4,825,716 - -
Announcement Date 24/2/22 23/2/23 23/2/24 26/2/25 26/2/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.23x2.37x6.23x3.44% 182B
10.5x1.26x3.91x7.14% 222B
10.43x2.54x6.89x5.55% 214B
12.34x1.72x7.15x3.41% 79.62B
11.62x0.81x2.95x6.36% 76.69B
14.26x2.01x5.07x2.53% 69.46B
29.61x6.14x22.19x3.67% 64.31B
14.88x2.51x7.99x5.22% 56.25B
32.73x1.82x6.07x4.46% 52.63B
26.82x3.59x7.94x3.8% 46.92B
Average 17.94x 2.48x 7.64x 4.56% 106.4B
Weighted average by Cap. 15.14x 2.25x 6.76x 4.96%

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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