Cellnex Telecom, S.A.

BATS-CHIXE:CLNXe Stock Report

Market Cap: €22.9b

Cellnex Telecom Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 CLNXe when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CLNXe (€33.16) is trading below our estimate of fair value (€37.33)

Significantly Below Fair Value: CLNXe is trading below fair value, but not by a significant amount.


Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

CLNXe key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue11.6x
Enterprise Value/EBITDA18.7x
PEG Ration/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CLNXe vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
BT.A BT Group
0.7x-0.08%UK£13.7b
HTWS Helios Towers
2.3x8.9%UK£1.3b
VOD Vodafone Group
0.6x3.3%UK£18.5b
AAF Airtel Africa
1.1x10.2%UK£4.4b
CLNXe Cellnex Telecom
5.9x5.9%€22.9b

Price-To-Sales vs Peers: CLNXe is expensive based on its Price-To-Sales Ratio (5.9x) compared to the peer average (1.2x).


Price to Earnings Ratio vs Industry

How does CLNXe's PE Ratio compare vs other companies in the European Telecom Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a20.9%
n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a20.9%
n/an/an/a
No more companies

Price-To-Sales vs Industry: CLNXe is expensive based on its Price-To-Sales Ratio (5.9x) compared to the European Telecom industry average (1.1x).


Price to Sales Ratio vs Fair Ratio

What is CLNXe'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.

CLNXe PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.9x
Fair PS Ratio2.4x

Price-To-Sales vs Fair Ratio: CLNXe is expensive based on its Price-To-Sales Ratio (5.9x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).


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 CLNXe forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€33.16
€42.84
+29.2%
18.0%€62.15€31.20n/a25
Jun ’25€34.01
€42.77
+25.8%
17.7%€62.15€31.20n/a26
May ’25€31.31
€42.52
+35.8%
18.3%€62.15€31.20n/a26
Apr ’25€32.78
€42.98
+31.1%
17.7%€62.15€31.31n/a25
Mar ’25€32.53
€42.73
+31.3%
19.3%€62.15€30.00n/a26
Feb ’25€35.16
€42.66
+21.3%
19.8%€62.15€30.00n/a26
Jan ’25€35.61
€42.93
+20.6%
20.6%€63.00€30.00n/a26
Dec ’24€34.96
€42.51
+21.6%
19.8%€62.15€30.00n/a26
Nov ’24€28.53
€43.34
+51.9%
18.3%€62.15€31.00n/a26
Oct ’24€33.56
€47.18
+40.6%
22.0%€77.80€31.00n/a26
Sep ’24€34.62
€48.14
+39.0%
21.4%€77.80€32.27n/a24
Aug ’24€36.65
€48.30
+31.8%
21.1%€77.80€32.27n/a24
Jul ’24€36.84
€48.24
+30.9%
20.9%€77.80€32.27n/a24
Jun ’24€37.92
€48.25
+27.2%
21.8%€77.80€32.27€34.0124
May ’24€38.19
€48.56
+27.2%
22.2%€77.80€32.27€31.3123
Apr ’24€35.85
€47.95
+33.8%
23.6%€77.80€23.44€32.7825
Mar ’24€34.96
€48.51
+38.8%
24.3%€77.80€23.44€32.5325
Feb ’24€36.00
€49.53
+37.6%
26.4%€79.00€23.44€35.1626
Jan ’24€31.13
€49.37
+58.6%
26.3%€79.00€23.44€35.6126
Dec ’23€34.10
€52.39
+53.7%
29.2%€83.85€23.44€34.9624
Nov ’23€32.74
€54.27
+65.8%
28.6%€83.85€23.44€28.5323
Oct ’23€31.58
€58.04
+83.8%
22.3%€83.85€23.44€33.5623
Sep ’23€39.59
€59.60
+50.5%
19.8%€83.85€29.09€34.6223
Aug ’23€44.50
€59.90
+34.6%
19.7%€83.85€29.09€36.6523
Jul ’23€37.46
€62.30
+66.3%
14.9%€83.85€39.00€36.8423
Jun ’23€41.07
€63.05
+53.5%
14.9%€83.85€39.00€37.9224

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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