NOS S.G.P.S' (ELI:NOS) Promising Earnings May Rest On Soft Foundations
Nov 16
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Portuguese (PSI) Market Analysis & Valuation
UpdatedNov 17, 2024
DataAggregated Company Financials
Companies45
- 7D0.5%
- 3M-7.6%
- 1Y-8.3%
- YTD-12.5%
The Utilities sector gained 3.4% while the market remained flat over the last week. As for last year, the market is down 8.3%. As for the next few years, earnings are expected to grow by 7.3% per annum.
Market Valuation and Performance
Has the Portuguese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 18 Nov 2024 | €73.0b | €105.0b | €5.9b | 13.5x | 12.5x | 0.7x |
| Wed, 16 Oct 2024 | €78.1b | €105.0b | €6.4b | 12.6x | 12.1x | 0.7x |
| Fri, 13 Sep 2024 | €80.2b | €104.9b | €6.5b | 12.8x | 12.4x | 0.8x |
| Sun, 11 Aug 2024 | €77.2b | €104.7b | €6.4b | 12.2x | 12x | 0.7x |
| Tue, 09 Jul 2024 | €78.5b | €103.3b | €5.8b | 12.7x | 13.6x | 0.8x |
| Thu, 06 Jun 2024 | €81.3b | €103.2b | €5.8b | 13.9x | 14x | 0.8x |
| Sat, 04 May 2024 | €78.9b | €103.6b | €5.7b | 14.3x | 13.8x | 0.8x |
| Mon, 01 Apr 2024 | €73.5b | €102.5b | €5.8b | 11.7x | 12.8x | 0.7x |
| Wed, 28 Feb 2024 | €75.5b | €101.7b | €5.6b | 12.1x | 13.5x | 0.7x |
| Fri, 26 Jan 2024 | €79.1b | €103.1b | €5.8b | 12x | 13.7x | 0.8x |
| Sun, 24 Dec 2023 | €84.0b | €103.3b | €5.8b | 11x | 14.5x | 0.8x |
| Tue, 21 Nov 2023 | €80.3b | €103.2b | €5.8b | 11.2x | 13.8x | 0.8x |
| Thu, 19 Oct 2023 | €75.5b | €105.8b | €5.5b | 9.8x | 13.7x | 0.7x |
| Sat, 16 Sep 2023 | €79.8b | €105.9b | €5.5b | 9.7x | 14.5x | 0.8x |
| Mon, 14 Aug 2023 | €79.2b | €104.8b | €5.5b | 9.7x | 14.3x | 0.8x |
| Wed, 12 Jul 2023 | €79.2b | €106.6b | €6.3b | 9.5x | 12.5x | 0.7x |
| Fri, 09 Jun 2023 | €81.4b | €106.5b | €6.3b | 9.9x | 12.9x | 0.8x |
| Sun, 07 May 2023 | €82.2b | €106.1b | €6.3b | 9.4x | 13.2x | 0.8x |
| Tue, 04 Apr 2023 | €82.5b | €105.6b | €5.6b | 9.5x | 14.7x | 0.8x |
| Thu, 02 Mar 2023 | €77.9b | €103.1b | €5.6b | 9.3x | 14x | 0.8x |
| Sat, 28 Jan 2023 | €79.8b | €101.3b | €5.1b | 9.3x | 15.6x | 0.8x |
| Mon, 26 Dec 2022 | €79.6b | €101.3b | €5.1b | 8.6x | 15.6x | 0.8x |
| Wed, 23 Nov 2022 | €79.7b | €100.9b | €5.1b | 9.2x | 15.6x | 0.8x |
| Fri, 21 Oct 2022 | €74.2b | €93.5b | €4.1b | 10.7x | 18.2x | 0.8x |
| Sun, 18 Sep 2022 | €82.7b | €93.2b | €4.0b | 10.6x | 20.4x | 0.9x |
| Tue, 16 Aug 2022 | €86.7b | €92.9b | €4.0b | 11.4x | 21.5x | 0.9x |
| Thu, 14 Jul 2022 | €80.8b | €85.0b | €2.7b | 12.7x | 29.4x | 1x |
| Sat, 11 Jun 2022 | €81.2b | €85.0b | €2.7b | 14.6x | 29.7x | 1x |
| Mon, 09 May 2022 | €77.8b | €84.3b | €2.6b | 15.7x | 30.5x | 0.9x |
| Wed, 06 Apr 2022 | €83.7b | €78.3b | €3.0b | 18x | 28.2x | 1.1x |
| Fri, 04 Mar 2022 | €73.7b | €77.4b | €2.8b | 16.4x | 25.9x | 1x |
| Sun, 30 Jan 2022 | €73.9b | €73.5b | €2.6b | 15.8x | 28.2x | 1x |
| Tue, 28 Dec 2021 | €76.5b | €73.5b | €2.6b | 16.3x | 29.2x | 1x |
| Thu, 25 Nov 2021 | €76.5b | €73.4b | €2.7b | 15.3x | 28.7x | 1x |
Price to Earnings Ratio
28.7x
Current Market PE
- Investors are pessimistic on the Portuguese market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 12.5x which is lower than its 3-year average PE of 17.7x.
Past Earnings Growth
- The earnings for Portuguese listed companies have grown 30% per year over the last three years.
- Revenues for these companies have grown 13% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Portuguese Market?
| PT Market | 0.55% | |
| Utilities | 3.39% | |
| Materials | 2.56% | |
| Industrials | 1.23% | |
| Real Estate | 0% | |
| Healthcare | 0% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Telecom | -0.59% | |
| Energy | -0.63% | |
| Consumer Discretionary | -0.67% | |
| Financials | -1.28% | |
| Tech | -2.00% | |
| Consumer Staples | -4.05% | |
Sector PE
- Investors favour the Utilities sector the most for future growth even though it's trading below its 3-year average PE ratio of 25.5x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 16.9% which is higher than its past year's earnings decline of 45.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 19% over the next 5 years.
- This is better than its past earnings decline of 9.6% per year.
- In contrast, the Telecom sector is expected to see its earnings decline by 17% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| EDPR EDP Renováveis | €11.37 | 5.0% +€561.5m | -30.4% | PE159.7x | Utilities | |
| EDP EDP | €3.50 | 2.5% +€353.9m | -18.2% | PE13.4x | Utilities | |
| NVG Navigator Company | €3.65 | 4.9% +€120.9m | -2.5% | PE8.2x | Materials | |
| NOS NOS S.G.P.S | €3.46 | 2.7% +€46.0m | 1.1% | PE6.9x | Telecom | |
| RENE REN - Redes Energéticas Nacionais SGPS | €2.39 | 2.6% +€39.8m | -1.4% | PE11.5x | Utilities |
