Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 7.7x - 8.5x | 8.1x |
| Selected Fwd EBITDA Multiple | 4.3x - 4.8x | 4.6x |
| Fair Value | €7.97 - €9.48 | €8.73 |
| Upside | -4.5% - 13.5% | 4.5% |
| Benchmarks | Ticker | Full Ticker |
| Liberty Latin America Ltd. | LILA.B | OTCPK:LILA.B |
| AT&T Inc. | T | BASE:T |
| Telefónica, S.A. | TEFO | BASE:TEFO |
| Empresa Nacional de Telecomunicaciones S.A. | ENTEL | SNSE:ENTEL |
| América Móvil, S.A.B. de C.V. | AMX | BASE:AMX |
| Telecom Argentina S.A. | TEO | DB:TEO |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| LILA.B | T | TEFO | ENTEL | AMX | TEO | ||
| OTCPK:LILA.B | BASE:T | BASE:TEFO | SNSE:ENTEL | BASE:AMX | DB:TEO | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 0.2% | -3.5% | -7.3% | 4.5% | 2.1% | 44.3% | |
| 3Y CAGR | -3.1% | -4.0% | 2.5% | -2.2% | 2.2% | 6.9% | |
| Latest Twelve Months | -4.9% | 5.0% | 25.5% | -5.9% | 35.1% | -5.9% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 34.8% | 34.3% | 22.6% | 24.2% | 33.1% | 27.3% | |
| Prior Fiscal Year | 36.1% | 34.2% | 18.8% | 22.6% | 32.4% | 25.2% | |
| Latest Fiscal Year | 33.6% | 35.9% | 23.6% | 22.5% | 33.7% | 23.3% | |
| Latest Twelve Months | 34.2% | 36.0% | 23.6% | 20.9% | 39.5% | 24.8% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 2.19x | 2.93x | 1.46x | 1.19x | 1.95x | 2.03x | |
| EV / LTM EBITDA | 6.4x | 8.1x | 6.2x | 5.7x | 4.9x | 8.2x | |
| EV / LTM EBIT | 17.1x | 13.5x | 13.0x | 16.6x | 9.5x | 548.4x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | 4.9x | 6.2x | 8.1x | ||||
| Historical EV / LTM EBITDA | 3.2x | 3.4x | 8.6x | ||||
| Selected EV / LTM EBITDA | 7.7x | 8.1x | 8.5x | ||||
| (x) LTM EBITDA | 1,099,850 | 1,099,850 | 1,099,850 | ||||
| (=) Implied Enterprise Value | 8,484,187 | 8,930,723 | 9,377,259 | ||||
| (-) Non-shareholder Claims * | (3,962,659) | (3,962,659) | (3,962,659) | ||||
| (=) Equity Value | 4,521,528 | 4,968,064 | 5,414,600 | ||||
| (/) Shares Outstanding | 455.4 | 455.4 | 455.4 | ||||
| Implied Value Range | 9,928.61 | 10,909.14 | 11,889.67 | ||||
| FX Rate: ARS/EUR | 1,364.8 | 1,364.8 | 1,364.8 | Market Price | |||
| Implied Value Range (Trading Cur) | 7.27 | 7.99 | 8.71 | 8.35 | |||
| Upside / (Downside) | -12.9% | -4.3% | 4.3% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | LILA.B | T | TEFO | ENTEL | AMX | TEO | |
| Enterprise Value | 9,763 | 331,807 | 56,932 | 3,283,293 | 1,641,863 | 9,152,521 | |
| (+) Cash & Short Term Investments | 643 | 6,979 | 7,059 | 268,801 | 97,981 | 518,828 | |
| (+) Investments & Other | 76 | 1,534 | 8,159 | 435 | 19,486 | 36,349 | |
| (-) Debt | (8,776) | (145,288) | (45,483) | (2,668,163) | (809,553) | (4,442,548) | |
| (-) Other Liabilities | (504) | (18,095) | (3,948) | 0 | (66,072) | (75,288) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 1,202 | 176,937 | 22,719 | 884,367 | 883,706 | 5,189,862 | |
| (/) Shares Outstanding | 228.1 | 18,760.1 | 39,399.1 | 302.0 | 2,655.9 | 455.4 | |
| Implied Stock Price | 5.27 | 9.43 | 0.58 | 2,928.20 | 332.73 | 11,396.18 | |
| FX Conversion Rate to Trading Currency | 1.00 | 0.00 | 0.00 | 1.00 | 0.02 | 1,364.81 | |
| Implied Stock Price (Trading Cur) | 5.27 | 11,150.00 | 787.00 | 2,928.20 | 20,775.00 | 8.35 | |
| Trading Currency | USD | ARS | ARS | CLP | ARS | EUR | |
| FX Rate to Reporting Currency | 1.00 | 0.00 | 0.00 | 1.00 | 0.02 | 1,364.81 | |