Cellnex Telecom, S.A.

DB:472 Stock Report

Market Cap: €22.8b

Cellnex Telecom Valuation

Is 472 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 472 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€54.17
Fair Value
40.3% undervalued intrinsic discount
23
Number of Analysts

Below Fair Value: 472 (€32.33) is trading below our estimate of fair value (€54.17)

Significantly Below Fair Value: 472 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 472?

Key metric: As 472 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 472. This is calculated by dividing 472's market cap by their current revenue.
What is 472's PS Ratio?
PS Ratio5.6x
Sales€4.00b
Market Cap€22.85b

Price to Sales Ratio vs Peers

How does 472's PS Ratio compare to its peers?

The above table shows the PS ratio for 472 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
O2D Telefónica Deutschland Holding
0.7x-0.9%€6.1b
DTE Deutsche Telekom
1.4x2.9%€159.3b
UTDI United Internet
0.4x3.8%€2.8b
E4C ecotel communication ag
0.4x9.0%€49.0m
472 Cellnex Telecom
5.6x4.8%€22.8b

Price-To-Sales vs Peers: 472 is expensive based on its Price-To-Sales Ratio (5.6x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does 472's PS Ratio compare vs other companies in the European Telecom Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
472 5.6xIndustry Avg. 1.1xNo. of Companies11PS012345+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 472 is expensive based on its Price-To-Sales Ratio (5.6x) compared to the European Telecom industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is 472's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

472 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.6x
Fair PS Ratio1.9x

Price-To-Sales vs Fair Ratio: 472 is expensive based on its Price-To-Sales Ratio (5.6x) compared to the estimated Fair Price-To-Sales Ratio (1.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 472 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€32.33
€44.23
+36.8%
18.0%€70.60€31.00n/a23
Jan ’26€30.36
€44.15
+45.4%
17.7%€70.60€31.00n/a24
Dec ’25€33.84
€44.11
+30.4%
17.8%€70.60€31.00n/a24
Nov ’25€33.66
€43.93
+30.5%
18.3%€70.60€32.00n/a24
Oct ’25€36.53
€43.72
+19.7%
19.8%€70.60€31.31n/a24
Sep ’25€34.96
€42.79
+22.4%
18.0%€62.15€31.31n/a25
Aug ’25€32.22
€42.79
+32.8%
18.0%€62.15€31.31n/a25
Jul ’25€30.73
€42.84
+39.4%
18.0%€62.15€31.20n/a25
Jun ’25€34.29
€42.77
+24.7%
17.7%€62.15€31.20n/a26
May ’25€31.54
€42.52
+34.8%
18.3%€62.15€31.20n/a26
Apr ’25€32.81
€42.98
+31.0%
17.7%€62.15€31.31n/a25
Mar ’25€33.75
€42.73
+26.6%
19.3%€62.15€30.00n/a26
Feb ’25€35.47
€42.66
+20.3%
19.8%€62.15€30.00€32.9426
Jan ’25€35.74
€42.93
+20.1%
20.6%€63.00€30.00€30.3626
Dec ’24€35.15
€42.51
+20.9%
19.8%€62.15€30.00€33.8426
Nov ’24€27.81
€43.34
+55.8%
18.3%€62.15€31.00€33.6626
Oct ’24€32.47
€47.18
+45.3%
22.0%€77.80€31.00€36.5326
Sep ’24€35.33
€48.14
+36.3%
21.4%€77.80€32.27€34.9624
Aug ’24€37.11
€48.30
+30.2%
21.1%€77.80€32.27€32.2224
Jul ’24€36.77
€48.24
+31.2%
20.9%€77.80€32.27€30.7324
Jun ’24€37.99
€48.25
+27.0%
21.8%€77.80€32.27€34.2924
May ’24€38.16
€48.56
+27.3%
22.2%€77.80€32.27€31.5423
Apr ’24€35.73
€47.95
+34.2%
23.6%€77.80€23.44€32.8125
Mar ’24€35.12
€48.51
+38.1%
24.3%€77.80€23.44€33.7525
Feb ’24€35.88
€49.53
+38.0%
26.4%€79.00€23.44€35.4726
Analyst Price Target
Consensus Narrative from 23 Analysts
€44.72
Fair Value
27.7% undervalued intrinsic discount
23
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/04 10:36
End of Day Share Price 2025/02/04 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cellnex Telecom, S.A. is covered by 47 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jean-Michel SalvadorAlphaValue
Bruno BessaBanco BPI, S.A.
Pedro Jorge OliveiraBanco BPI, S.A.