Stock TIT TELECOM ITALIA S.P.A.
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Financials Telecom Italia S.p.A.

Equities

TIT

IT0003497168

Integrated Telecommunications Services

Market Closed - Borsa Italiana
Other stock markets
 11:44:59 2024-04-26 am EDT 		5-day change 1st Jan Change
0.2226 EUR +0.09% Intraday chart for Telecom Italia S.p.A. +0.36% -24.34%
Apr. 24 TIM appoints Figari as chairman; Labriola confirmed as CEO AN
Apr. 24 Citadel Advisors initiates short on STMicroelectronics. AN

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,658 8,279 9,107 4,546 6,305 4,786 - -
Enterprise Value (EV) 1 41,523 31,605 31,294 29,910 6,305 29,951 29,870 30,491
P/E ratio 13.9 x 1.14 x -1.09 x -1.55 x - -11.8 x -20.9 x -34.9 x
Yield 1.8% 2.65% - - - - 1.68% 3.37%
Capitalization / Revenue 0.65 x 0.52 x 0.59 x 0.29 x 0.39 x 0.29 x 0.29 x 0.29 x
EV / Revenue 2.31 x 2 x 2.04 x 1.89 x 0.39 x 1.81 x 1.83 x 1.85 x
EV / EBITDA 5.09 x 4.69 x 6.16 x 5.59 x 1.1 x 4.88 x 4.97 x 4.95 x
EV / FCF 18 x 10.3 x 96.9 x -21.2 x - 92.3 x 64.2 x 48.3 x
FCF Yield 5.54% 9.73% 1.03% -4.71% - 1.08% 1.56% 2.07%
Price to Book 0.58 x 0.3 x 0.38 x 0.31 x - 0.35 x 0.36 x 0.26 x
Nbr of stocks (in thousands) 21,067,160 21,195,996 21,202,712 21,241,316 21,252,196 21,252,196 - -
Reference price 2 0.5564 0.3774 0.4342 0.2163 0.2942 0.2226 0.2226 0.2226
Announcement Date 3/10/20 2/24/21 3/2/22 3/15/23 3/6/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 17,974 15,805 15,316 15,788 16,296 16,565 16,363 16,444
EBITDA 1 8,151 6,739 5,080 5,347 5,710 6,137 6,009 6,159
EBIT 1 3,175 2,104 -3,529 606 836 1,682 1,968 2,196
Operating Margin 17.66% 13.31% -23.04% 3.84% 5.13% 10.16% 12.03% 13.35%
Earnings before Tax (EBT) 1 1,739 1,397 -4,515 -588 -880 320.5 617.1 1,014
Net income 1 916 7,224 -8,652 -2,925 -1,441 -284.1 -259.9 -263.3
Net margin 5.1% 45.71% -56.49% -18.53% -8.84% -1.72% -1.59% -1.6%
EPS 2 0.0400 0.3300 -0.4000 -0.1400 - -0.0189 -0.0107 -0.006370
Free Cash Flow 1 2,301 3,074 323 -1,410 - 324.6 465.5 631.2
FCF margin 12.8% 19.45% 2.11% -8.93% - 1.96% 2.84% 3.84%
FCF Conversion (EBITDA) 28.23% 45.62% 6.36% - - 5.29% 7.75% 10.25%
FCF Conversion (Net income) 251.2% 42.55% - - - - - -
Dividend per Share 2 0.0100 0.0100 - - - - 0.003750 0.007500
Announcement Date 3/10/20 2/24/21 3/2/22 3/15/23 3/6/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 7,759 7,567 3,836 3,976 3,644 3,913 7,557 3,972 4,259 3,847 3,999 7,846 4,107 4,343 4,028 4,122 4,187 4,399
EBITDA 3,398 2,770 1,624 731 1,316 1,342 - 1,287 1,402 1,039 1,641 2,680 1,547 - - - - -
EBIT - 501 484 -4,469 209 - - 41 - - - - - - - - - -
Operating Margin - 6.62% 12.62% -112.4% 5.74% - - 1.03% - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - - - - -
Net income 678 -137 159 -8,642 -204 -279 -483 -2,245 - -689 -124 -813 -311 - - - - -
Net margin 8.74% -1.81% 4.14% -217.35% -5.6% -7.13% -6.39% -56.52% - -17.91% -3.1% -10.36% -7.57% - - - - -
EPS 2 - - - - - - - - - - - - - - -0.0200 - - -0.0100
Dividend per Share - - - - - - - - - - - - - - - - - -
Announcement Date 8/4/20 7/27/21 10/28/21 3/2/22 5/4/22 8/3/22 8/3/22 11/10/22 3/15/23 5/10/23 8/2/23 8/2/23 11/8/23 3/6/24 - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 29,865 23,326 22,187 25,364 - 25,165 25,084 25,705
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.664 x 3.461 x 4.368 x 4.744 x - 4.101 x 4.174 x 4.174 x
Free Cash Flow 1 2,301 3,074 323 -1,410 - 325 466 631
ROE (net income / shareholders' equity) 5.34% 31.1% -39.7% -3.01% - -1.68% -0.53% -0.13%
ROA (Net income/ Total Assets) 1.57% 10.1% -12.1% -4.46% - -0.39% 0.02% 1.2%
Assets 1 58,530 71,669 71,210 65,606 - 72,482 -1,528,926 -21,942
Book Value Per Share 2 0.9600 1.240 1.140 0.7100 - 0.6300 0.6200 0.8400
Cash Flow per Share 2 0.2800 0.3100 0.2000 0.2300 - 0.2200 0.2200 0.3100
Capex 1 3,649 3,409 4,630 3,979 3,982 3,951 3,882 3,709
Capex / Sales 20.3% 21.57% 30.23% 25.2% 24.44% 23.85% 23.73% 22.55%
Announcement Date 3/10/20 2/24/21 3/2/22 3/15/23 3/6/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Telecom Italia S.p.A.

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
0.2226 EUR
Average target price
0.33 EUR
Spread / Average Target
+48.25%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Integrated Telecommunications Services

1st Jan change Capi.
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EMIRATES TELECOMMUNICATIONS GROUP COMPANY Stock Emirates Telecommunications Group Company
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Other Integrated Telecommunications Services
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