BME:MAS

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MásMóvil Ibercom

Executive Summary

MásMóvil Ibercom, S.A. provides telecommunications services to residential customers, businesses, and operators in Spain.


Snowflake Analysis

Reasonable growth potential and fair value.


Similar Companies

Share Price & News

How has MásMóvil Ibercom's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MAS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.7%

MAS

4.0%

ES Telecom

3.6%

ES Market


1 Year Return

-11.5%

MAS

-15.2%

ES Telecom

-22.5%

ES Market

Return vs Industry: MAS exceeded the Spanish Telecom industry which returned -15.2% over the past year.

Return vs Market: MAS exceeded the Spanish Market which returned -22.5% over the past year.


Shareholder returns

MASIndustryMarket
7 Day0.7%4.0%3.6%
30 Day10.2%4.5%3.3%
90 Day-4.2%-14.4%-22.8%
1 Year-11.5%-11.5%-10.7%-15.2%-20.2%-22.5%
3 Year49.3%49.3%-19.4%-28.8%-27.1%-33.8%
5 Year330.0%330.0%-16.8%-31.7%-22.2%-34.4%

Price Volatility Vs. Market

How volatile is MásMóvil Ibercom's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MásMóvil Ibercom undervalued compared to its fair value and its price relative to the market?

44.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MAS (€17.63) is trading below our estimate of fair value (€31.98)

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


Price To Earnings Ratio

PE vs Industry: MAS is poor value based on its PE Ratio (25x) compared to the Telecom industry average (18.6x).

PE vs Market: MAS is poor value based on its PE Ratio (25x) compared to the Spanish market (14.8x).


Price to Earnings Growth Ratio

PEG Ratio: MAS is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: MAS is overvalued based on its PB Ratio (18.6x) compared to the ES Telecom industry average (3.9x).


Next Steps

Future Growth

How is MásMóvil Ibercom forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

35.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MAS's forecast earnings growth (35.6% per year) is above the savings rate (1.3%).

Earnings vs Market: MAS's earnings (35.6% per year) are forecast to grow faster than the Spanish market (17.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MAS's revenue (4.4% per year) is forecast to grow slower than the Spanish market (5% per year).

High Growth Revenue: MAS's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MAS's Return on Equity is forecast to be very high in 3 years time (51.4%).


Next Steps

Past Performance

How has MásMóvil Ibercom performed over the past 5 years?

32.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MAS has a large one-off gain of €97.9M impacting its March 31 2020 financial results.

Growing Profit Margin: MAS's current net profit margins (5.3%) are lower than last year (5.6%).


Past Earnings Growth Analysis

Earnings Trend: MAS has become profitable over the past 5 years, growing earnings by 32% per year.

Accelerating Growth: MAS's earnings growth over the past year (11.1%) is below its 5-year average (32% per year).

Earnings vs Industry: MAS earnings growth over the past year (11.1%) exceeded the Telecom industry 9.8%.


Return on Equity

High ROE: Whilst MAS's Return on Equity (74.57%) is outstanding, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is MásMóvil Ibercom's financial position?


Financial Position Analysis

Short Term Liabilities: MAS's short term assets (€625.0M) do not cover its short term liabilities (€1.3B).

Long Term Liabilities: MAS's short term assets (€625.0M) do not cover its long term liabilities (€2.1B).


Debt to Equity History and Analysis

Debt Level: MAS's debt to equity ratio (1678.1%) is considered high.

Reducing Debt: MAS's debt to equity ratio has increased from 55% to 1678.1% over the past 5 years.

Debt Coverage: MAS's debt is well covered by operating cash flow (27.8%).

Interest Coverage: MAS's interest payments on its debt are not well covered by EBIT (0.9x coverage).


Balance Sheet


Next Steps

Dividend

What is MásMóvil Ibercom's current dividend yield, its reliability and sustainability?

7.21%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MAS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MAS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MAS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MAS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MAS is not paying a notable dividend for the Spanish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MAS's dividend in 3 years as they are not forecast to pay a notable one for the Spanish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.5yrs

Average management tenure


CEO

Maini Spenger

no data

Tenure

Mr. Meinrad Spenger, also known as Maini, serves as the Chief Executive Officer of Grupo MÁSMOVIL. Mr. Spenger is Chief Executive Officer and Executive Director since May 30, 2014 at MásMóvil Ibercom, S.A. ...


Leadership Team

NamePositionTenureCompensationOwnership
Meinrad Spenger
CEO & Executive Directorno datano data0.90% 20.9m
José María Del Corro García Lomas
Chief Financial Officerno datano datano data
Francisco Javier de la Plaza
Chief IR & Corporate Financeno datano datano data
Miguel Santos Fernandez
Chief Technology Officer2.33yrsno datano data
Juan Delgado Domínguez
Chief Legal Officerno datano datano data
Maria de la Torre Rodriguez
Compliance Officerno datano datano data
Fernando Castro
Chief Communication Officerno datano datano data
Jacobo Galvez
Chief Marketing Officer0.58yrno datano data
Jose López-Tello
Chief of Sales Officer0.58yrno datano data
Arturo Medina Santamaria
Chief People Officer2.33yrsno datano data

1.5yrs

Average Tenure

Experienced Management: MAS's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Meinrad Spenger
CEO & Executive Directorno datano data0.90% 20.9m
John Hahn
Proprietary Director3.5yrsno datano data
Borja Fernández Espejel
Independent Director3.5yrsno data0.036% 828.7k
Josep María Echarri Torres
Vice Chairman of the Boardno datano data0.0038% 88.2k
Pilar Zulueta de Oya
Independent Director3.5yrsno data0.0038% 88.2k
Cristina Aldámiz-Echevarría González De Durana
Independent Director4.08yrsno data0.000040% 928.3
José Eulalio Poza Sanz
Vice Chairman of the Boardno datano data5.02% 116.5m
Eduardo Díez-Hochleitner Rodríguez
Independent Chairman of the Boardno datano data0.16% 3.7m
Felipe Fernández Atela
Independent Director4.92yrsno datano data
Nathalie Picquot
Independent Director1yrno datano data

3.5yrs

Average Tenure

Experienced Board: MAS's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.6%.


Top Shareholders

Company Information

MásMóvil Ibercom, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MásMóvil Ibercom, S.A.
  • Ticker: MAS
  • Exchange: BME
  • Founded: 1997
  • Industry: Integrated Telecommunication Services
  • Sector: Telecom
  • Market Cap: €2.321b
  • Shares outstanding: 131.63m
  • Website: https://www.grupomasmovil.com

Number of Employees


Location

  • MásMóvil Ibercom, S.A.
  • Avda de la Vega 15 (Edificio 1)
  • Alcobendas
  • Madrid
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MASBME (Bolsas y Mercados Espanoles)YesBearer SharesESEURMar 2012
0WIADB (Deutsche Boerse AG)YesBearer SharesDEEURMar 2012
0X4PLSE (London Stock Exchange)YesBearer SharesGBEURMar 2012
MASEBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURMar 2012
MASM NBMV (Bolsa Mexicana de Valores)YesBearer SharesMXMXNMar 2012

Biography

MásMóvil Ibercom, S.A. provides telecommunications services to residential customers, businesses, and operators in Spain. It operates in three segments: Residential, Business, and Wholesale. It offers fixed and mobile connectivity services to private end customers; virtual switchboards and cloud with unified communications; internet connectivity solutions; VPN solutions; and data center services. The company provides its services under the Yoigo, Pepephone, MASMOVIL, Hits Mobile Lebara, and Llamaya brand names. As of December 31, 2019, it had approximately 8.9 million customers. The company was formerly known as World Wide Web Ibercom, S.A. and changed its name to MásMóvil Ibercom, S.A. in July 2014. MásMóvil Ibercom, S.A. was founded in 1997 and is headquartered in Alcobendas, Spain. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/27 06:45
End of Day Share Price2020/05/26 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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 here.