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CTT-CORREIOS DE PORTUGAL (CTT.LS) Stock Fundamental Analysis

ELI:CTT - Euronext Lisbon - PTCTT0AM0001 - Common Stock - Currency: EUR

7  +0.04 (+0.57%)

Fundamental Rating

4

CTT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 15 industry peers in the Air Freight & Logistics industry. While CTT is still in line with the averages on profitability rating, there are concerns on its financial health. CTT has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year CTT was profitable.
CTT had a positive operating cash flow in the past year.
Each year in the past 5 years CTT has been profitable.
Each year in the past 5 years CTT had a positive operating cash flow.
CTT.LS Yearly Net Income VS EBIT VS OCF VS FCFCTT.LS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

1.2 Ratios

CTT has a worse Return On Assets (0.95%) than 73.33% of its industry peers.
Looking at the Return On Equity, with a value of 21.80%, CTT belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
The Return On Invested Capital of CTT (1.49%) is worse than 73.33% of its industry peers.
CTT had an Average Return On Invested Capital over the past 3 years of 2.22%. This is below the industry average of 7.10%.
Industry RankSector Rank
ROA 0.95%
ROE 21.8%
ROIC 1.49%
ROA(3y)1.08%
ROA(5y)1%
ROE(3y)20.8%
ROE(5y)19.16%
ROIC(3y)2.22%
ROIC(5y)2.12%
CTT.LS Yearly ROA, ROE, ROICCTT.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

1.3 Margins

Looking at the Profit Margin, with a value of 5.74%, CTT is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
CTT's Profit Margin has improved in the last couple of years.
CTT has a better Operating Margin (8.97%) than 86.67% of its industry peers.
CTT's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 47.55%, CTT perfoms like the industry average, outperforming 46.67% of the companies in the same industry.
CTT's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 8.97%
PM (TTM) 5.74%
GM 47.55%
OM growth 3Y21.37%
OM growth 5Y17.06%
PM growth 3Y42.47%
PM growth 5Y17.98%
GM growth 3Y-3.94%
GM growth 5Y-4.05%
CTT.LS Yearly Profit, Operating, Gross MarginsCTT.LS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60

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3

2. Health

2.1 Basic Checks

CTT has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for CTT has been reduced compared to 1 year ago.
The number of shares outstanding for CTT has been reduced compared to 5 years ago.
The debt/assets ratio for CTT is higher compared to a year ago.
CTT.LS Yearly Shares OutstandingCTT.LS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M
CTT.LS Yearly Total Debt VS Total AssetsCTT.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.2 Solvency

CTT has an Altman-Z score of 0.03. This is a bad value and indicates that CTT is not financially healthy and even has some risk of bankruptcy.
CTT has a worse Altman-Z score (0.03) than 73.33% of its industry peers.
CTT has a debt to FCF ratio of 3.20. This is a good value and a sign of high solvency as CTT would need 3.20 years to pay back of all of its debts.
The Debt to FCF ratio of CTT (3.20) is better than 93.33% of its industry peers.
CTT has a Debt/Equity ratio of 18.28. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 18.28, CTT is doing worse than 80.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 18.28
Debt/FCF 3.2
Altman-Z 0.03
ROIC/WACC0.24
WACC6.11%
CTT.LS Yearly LT Debt VS Equity VS FCFCTT.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M

2.3 Liquidity

CTT has a Current Ratio of 0.67. This is a bad value and indicates that CTT is not financially healthy enough and could expect problems in meeting its short term obligations.
CTT has a worse Current ratio (0.67) than 73.33% of its industry peers.
A Quick Ratio of 0.66 indicates that CTT may have some problems paying its short term obligations.
The Quick ratio of CTT (0.66) is worse than 73.33% of its industry peers.
Industry RankSector Rank
Current Ratio 0.67
Quick Ratio 0.66
CTT.LS Yearly Current Assets VS Current LiabilitesCTT.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 21.22% over the past year.
The Earnings Per Share has been growing by 24.39% on average over the past years. This is a very strong growth
Looking at the last year, CTT shows a quite strong growth in Revenue. The Revenue has grown by 11.56% in the last year.
The Revenue has been growing slightly by 4.25% on average over the past years.
EPS 1Y (TTM)21.22%
EPS 3Y56.62%
EPS 5Y24.39%
EPS Q2Q%-17.43%
Revenue 1Y (TTM)11.56%
Revenue growth 3Y7.87%
Revenue growth 5Y4.25%
Sales Q2Q%16.82%

3.2 Future

The Earnings Per Share is expected to grow by 6.64% on average over the next years.
CTT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.75% yearly.
EPS Next Y-5.13%
EPS Next 2Y9.64%
EPS Next 3Y5.9%
EPS Next 5Y6.64%
Revenue Next Year5.78%
Revenue Next 2Y8.62%
Revenue Next 3Y8.41%
Revenue Next 5Y5.75%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
CTT.LS Yearly Revenue VS EstimatesCTT.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
CTT.LS Yearly EPS VS EstimatesCTT.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.1 0.2 0.3 0.4 0.5

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 18.42 indicates a rather expensive valuation of CTT.
CTT's Price/Earnings ratio is in line with the industry average.
CTT is valuated rather cheaply when we compare the Price/Earnings ratio to 29.35, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 16.70, the valuation of CTT can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CTT indicates a slightly more expensive valuation: CTT is more expensive than 60.00% of the companies listed in the same industry.
CTT is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.10, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 18.42
Fwd PE 16.7
CTT.LS Price Earnings VS Forward Price EarningsCTT.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

100.00% of the companies in the same industry are more expensive than CTT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 0.69
EV/EBITDA N/A
CTT.LS Per share dataCTT.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

CTT has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.76
EPS Next 2Y9.64%
EPS Next 3Y5.9%

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3

5. Dividend

5.1 Amount

CTT has a Yearly Dividend Yield of 2.44%.
CTT's Dividend Yield is a higher than the industry average which is at 3.94.
CTT's Dividend Yield is comparable with the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 2.44%

5.2 History

The dividend of CTT decreases each year by -19.70%.
Dividend Growth(5Y)-19.7%
Div Incr Years3
Div Non Decr Years3
CTT.LS Yearly Dividends per shareCTT.LS Yearly Dividends per shareYearly Dividends per share 2018 2019 2021 2022 2023 2024 0.1 0.2 0.3

5.3 Sustainability

44.27% of the earnings are spent on dividend by CTT. This is a bit on the high side, but may be sustainable.
DP44.27%
EPS Next 2Y9.64%
EPS Next 3Y5.9%
CTT.LS Yearly Income VS Free CF VS DividendCTT.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M
CTT.LS Dividend Payout.CTT.LS Dividend Payout, showing the Payout Ratio.CTT.LS Dividend Payout.PayoutRetained Earnings

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CTT-CORREIOS DE PORTUGAL

ELI:CTT (3/7/2025, 7:00:00 PM)

7

+0.04 (+0.57%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryAir Freight & Logistics
Earnings (Last)10-31 2024-10-31
Earnings (Next)03-20 2025-03-20/amc
Inst Owners26.26%
Inst Owner ChangeN/A
Ins Owners14.37%
Ins Owner ChangeN/A
Market Cap969.08M
Analysts77.78
Price Target6.5 (-7.14%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.44%
Yearly Dividend0.13
Dividend Growth(5Y)-19.7%
DP44.27%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)7.06%
PT rev (3m)14.16%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.5%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.39%
Revenue NY rev (3m)1.88%
Valuation
Industry RankSector Rank
PE 18.42
Fwd PE 16.7
P/S 1.05
P/FCF 0.69
P/OCF 0.68
P/B 4.01
P/tB 10.61
EV/EBITDA N/A
EPS(TTM)0.38
EY5.43%
EPS(NY)0.42
Fwd EY5.99%
FCF(TTM)10.12
FCFY144.53%
OCF(TTM)10.37
OCFY148.12%
SpS6.64
BVpS1.75
TBVpS0.66
PEG (NY)N/A
PEG (5Y)0.76
Profitability
Industry RankSector Rank
ROA 0.95%
ROE 21.8%
ROCE 9.13%
ROIC 1.49%
ROICexc 3.17%
ROICexgc 3.39%
OM 8.97%
PM (TTM) 5.74%
GM 47.55%
FCFM 152.47%
ROA(3y)1.08%
ROA(5y)1%
ROE(3y)20.8%
ROE(5y)19.16%
ROIC(3y)2.22%
ROIC(5y)2.12%
ROICexc(3y)3.64%
ROICexc(5y)3.24%
ROICexgc(3y)3.91%
ROICexgc(5y)3.51%
ROCE(3y)9.14%
ROCE(5y)8.45%
ROICexcg growth 3Y23.91%
ROICexcg growth 5Y-4.52%
ROICexc growth 3Y23.92%
ROICexc growth 5Y-3.83%
OM growth 3Y21.37%
OM growth 5Y17.06%
PM growth 3Y42.47%
PM growth 5Y17.98%
GM growth 3Y-3.94%
GM growth 5Y-4.05%
F-Score6
Asset Turnover0.17
Health
Industry RankSector Rank
Debt/Equity 18.28
Debt/FCF 3.2
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 3.79%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 2655.86%
Current Ratio 0.67
Quick Ratio 0.66
Altman-Z 0.03
F-Score6
WACC6.11%
ROIC/WACC0.24
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)4.02%
Cap/Sales(5y)4.59%
Profit Quality(3y)676.61%
Profit Quality(5y)889.65%
High Growth Momentum
Growth
EPS 1Y (TTM)21.22%
EPS 3Y56.62%
EPS 5Y24.39%
EPS Q2Q%-17.43%
EPS Next Y-5.13%
EPS Next 2Y9.64%
EPS Next 3Y5.9%
EPS Next 5Y6.64%
Revenue 1Y (TTM)11.56%
Revenue growth 3Y7.87%
Revenue growth 5Y4.25%
Sales Q2Q%16.82%
Revenue Next Year5.78%
Revenue Next 2Y8.62%
Revenue Next 3Y8.41%
Revenue Next 5Y5.75%
EBIT growth 1Y-12.42%
EBIT growth 3Y30.93%
EBIT growth 5Y22.04%
EBIT Next Year85.35%
EBIT Next 3Y26.64%
EBIT Next 5Y21.75%
FCF growth 1Y1011.88%
FCF growth 3Y58.49%
FCF growth 5Y72.97%
OCF growth 1Y791.08%
OCF growth 3Y52.66%
OCF growth 5Y61.57%