Financials Axtel, S.A.B. de C.V.

Equities

AXTEL CPO

MX01AX040009

Integrated Telecommunications Services

End-of-day quote Mexican S.E. 06:00:00 2024-05-13 pm EDT 5-day change 1st Jan Change
1.89 MXN +2.72% Intraday chart for Axtel, S.A.B. de C.V. +33.10% +180.83%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,715 17,655 10,960 3,880 1,903 5,277 - -
Enterprise Value (EV) 1 22,685 29,434 22,589 14,218 1,903 13,869 13,504 5,277
P/E ratio -43.9 x 44.5 x -96.8 x -685 x 33.7 x - 18.9 x 18.9 x
Yield - - - - - - - -
Capitalization / Revenue 0.68 x 1.43 x 0.96 x 0.37 x 0.17 x 0.48 x 0.47 x 0.46 x
EV / Revenue 1.77 x 2.38 x 1.98 x 1.36 x 0.17 x 1.27 x 1.2 x 0.46 x
EV / EBITDA 5.08 x 4.65 x 5.96 x 4.72 x 0.63 x 4.26 x 4.05 x 1.54 x
EV / FCF 19 x 11.3 x 11.3 x 7.48 x - 9.35 x 9.28 x 2.67 x
FCF Yield 5.27% 8.89% 8.86% 13.4% - 10.7% 10.8% 37.5%
Price to Book 2.58 x - - - - - - -
Nbr of stocks (in thousands) 2,838,917 2,833,867 2,832,034 2,832,034 2,827,900 2,791,893 - -
Reference price 2 3.070 6.230 3.870 1.370 0.6730 1.890 1.890 1.890
Announcement Date 2/12/20 2/11/21 2/15/22 2/15/23 2/7/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 12,784 12,356 11,389 10,480 10,956 10,946 11,233 11,528
EBITDA 1 4,466 6,327 3,793 3,011 3,042 3,255 3,336 3,424
EBIT 1 774 2,772 292 173.9 - 1,006 1,312 1,567
Operating Margin 6.05% 22.43% 2.56% 1.66% - 9.19% 11.68% 13.59%
Earnings before Tax (EBT) -353 1,154 -1,149 -87.05 - - - -
Net income 1 -14 361 -797 -38.81 - -73 132 330
Net margin -0.11% 2.92% -7% -0.37% - -0.67% 1.18% 2.86%
EPS 2 -0.0700 0.1400 -0.0400 -0.002000 0.0200 - 0.1000 0.1000
Free Cash Flow 1 1,195 2,616 2,001 1,901 - 1,484 1,455 1,979
FCF margin 9.35% 21.17% 17.57% 18.14% - 13.56% 12.95% 17.17%
FCF Conversion (EBITDA) 26.75% 41.34% 52.76% 63.14% - 45.59% 43.62% 57.8%
FCF Conversion (Net income) - 724.61% - - - - 1,102.27% 599.7%
Dividend per Share - - - - - - - -
Announcement Date 2/12/20 2/11/21 2/15/22 2/15/23 2/7/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2024 Q1
Net sales 1 2,759 2,812 2,547 2,544 2,736 2,652 2,746 2,631 2,782 2,649
EBITDA 1 912 824 717 701 790 803 736 764 801 800
EBIT - - - - - - - - - -
Operating Margin - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - -
Net income 1 - - 111.1 -171.3 -115.5 136.9 221.2 63.45 -125.5 53
Net margin - - 4.36% -6.73% -4.22% 5.16% 8.06% 2.41% -4.51% 1.91%
EPS 2 - - 0.0100 -0.0100 -0.0100 0.0100 0.0100 0.0100 -0.0500 0.0200
Dividend per Share - - - - - - - - - -
Announcement Date 10/20/21 2/15/22 4/25/22 7/21/22 10/20/22 2/15/23 4/25/23 7/26/23 10/19/23 4/23/24
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 13,969 11,779 11,629 10,338 - 8,592 8,227 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.128 x 1.862 x 3.066 x 3.433 x - 2.64 x 2.466 x -
Free Cash Flow 1 1,195 2,616 2,001 1,901 - 1,484 1,455 1,979
ROE (net income / shareholders' equity) -9.61% 10.5% -25% -1.36% - - - -
ROA (Net income/ Total Assets) -0.05% - - - - - - -
Assets 1 26,365 - - - - - - -
Book Value Per Share 1.190 - - - - - - -
Cash Flow per Share 1.030 1.630 1.160 1.130 - - - -
Capex 1 1,762 1,592 1,291 1,307 1,311 1,367 1,357 1,376
Capex / Sales 13.78% 12.88% 11.33% 12.47% 11.97% 12.49% 12.08% 11.94%
Announcement Date 2/12/20 2/11/21 2/15/22 2/15/23 2/7/24 - - -
1MXN in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
1.89 MXN
Average target price
1.7 MXN
Spread / Average Target
-10.05%
Consensus
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