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 EBIT Multiple | 62.6x - 69.2x | 65.9x |
Selected Fwd EBIT Multiple | 53.1x - 58.7x | 55.9x |
Fair Value | $18.12 - $25.60 | $21.86 |
Upside | -52.7% - -33.1% | -42.9% |
Benchmarks | Ticker | Full Ticker |
T-Mobile US, Inc. | TMUS | NasdaqGS:TMUS |
United States Cellular Corporation | USM | NYSE:USM |
Verizon Communications Inc. | VZ | NYSE:VZ |
AT&T Inc. | T | NYSE:T |
Lumen Technologies, Inc. | LUMN | NYSE:LUMN |
Telephone and Data Systems, Inc. | TDS | NYSE:TDS |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
TMUS | USM | VZ | T | LUMN | TDS | ||
NasdaqGS:TMUS | NYSE:USM | NYSE:VZ | NYSE:T | NYSE:LUMN | NYSE:TDS | ||
Historical EBIT Growth | |||||||
5Y CAGR | 23.4% | 2.2% | -0.3% | -0.9% | -35.1% | -2.8% | |
3Y CAGR | 22.0% | -8.8% | -5.5% | -8.7% | -52.6% | -16.7% | |
Latest Twelve Months | 16.5% | -24.7% | 4.0% | 2.4% | -34.6% | -32.5% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 16.8% | 3.9% | 23.7% | 21.3% | 14.1% | 4.0% | |
Prior Fiscal Year | 20.1% | 3.9% | 22.6% | 21.4% | 7.9% | 3.1% | |
Latest Fiscal Year | 22.3% | 3.8% | 22.9% | 21.6% | 3.5% | 3.3% | |
Latest Twelve Months | 22.8% | 3.5% | 23.1% | 21.6% | 3.8% | 2.7% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 4.52x | 2.46x | 2.53x | 2.87x | 1.57x | 2.16x | |
EV / LTM EBITDA | 11.8x | 11.5x | 7.0x | 8.0x | 6.0x | 9.8x | |
EV / LTM EBIT | 19.8x | 69.7x | 10.9x | 13.3x | 41.9x | 81.2x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | 10.9x | 19.8x | 69.7x | ||||
Historical EV / LTM EBIT | 20.0x | 35.1x | 66.8x | ||||
Selected EV / LTM EBIT | 62.6x | 65.9x | 69.2x | ||||
(x) LTM EBIT | 129 | 129 | 129 | ||||
(=) Implied Enterprise Value | 8,073 | 8,498 | 8,923 | ||||
(-) Non-shareholder Claims * | (6,084) | (6,084) | (6,084) | ||||
(=) Equity Value | 1,989 | 2,414 | 2,839 | ||||
(/) Shares Outstanding | 114.7 | 114.7 | 114.7 | ||||
Implied Value Range | 17.34 | 21.04 | 24.74 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 17.34 | 21.04 | 24.74 | 38.29 | |||
Upside / (Downside) | -54.7% | -45.1% | -35.4% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | TMUS | USM | VZ | T | LUMN | TDS | |
Enterprise Value | 373,816 | 9,132 | 346,096 | 351,886 | 20,449 | 10,477 | |
(+) Cash & Short Term Investments | 12,003 | 182 | 3,435 | 6,979 | 1,900 | 348 | |
(+) Investments & Other | 0 | 479 | 807 | 1,534 | 0 | 527 | |
(-) Debt | (121,692) | (3,819) | (169,891) | (145,288) | (17,927) | (5,095) | |
(-) Other Liabilities | 0 | (30) | (1,298) | (18,095) | 0 | (790) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | (1,074) | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 264,127 | 5,944 | 179,149 | 197,016 | 4,422 | 4,393 | |
(/) Shares Outstanding | 1,135.4 | 85.1 | 4,216.3 | 7,195.6 | 1,025.9 | 114.7 | |
Implied Stock Price | 232.62 | 69.85 | 42.49 | 27.38 | 4.31 | 38.29 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 232.62 | 69.85 | 42.49 | 27.38 | 4.31 | 38.29 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |