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NOS SGPS (NOS.LS) Stock Fundamental Analysis

ELI:NOS - Euronext Lisbon - PTZON0AM0006 - Common Stock - Currency: EUR

4.53  +0.07 (+1.57%)

Fundamental Rating

6

NOS gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 29 industry peers in the Diversified Telecommunication Services industry. While NOS has a great profitability rating, there are quite some concerns on its financial health. NOS is not valued too expensively and it also shows a decent growth rate. Finally NOS also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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9

1. Profitability

1.1 Basic Checks

In the past year NOS was profitable.
NOS had a positive operating cash flow in the past year.
Each year in the past 5 years NOS has been profitable.
NOS had a positive operating cash flow in each of the past 5 years.
NOS.LS Yearly Net Income VS EBIT VS OCF VS FCFNOS.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

1.2 Ratios

Looking at the Return On Assets, with a value of 7.65%, NOS belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
NOS has a better Return On Equity (25.46%) than 96.67% of its industry peers.
NOS's Return On Invested Capital of 9.18% is amongst the best of the industry. NOS outperforms 83.33% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for NOS is in line with the industry average of 7.55%.
The 3 year average ROIC (7.29%) for NOS is below the current ROIC(9.18%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.65%
ROE 25.46%
ROIC 9.18%
ROA(3y)5.37%
ROA(5y)4.73%
ROE(3y)18.29%
ROE(5y)15.76%
ROIC(3y)7.29%
ROIC(5y)7.43%
NOS.LS Yearly ROA, ROE, ROICNOS.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20

1.3 Margins

NOS has a Profit Margin of 15.38%. This is amongst the best in the industry. NOS outperforms 90.00% of its industry peers.
In the last couple of years the Profit Margin of NOS has grown nicely.
The Operating Margin of NOS (15.24%) is better than 63.33% of its industry peers.
In the last couple of years the Operating Margin of NOS has grown nicely.
Looking at the Gross Margin, with a value of 71.52%, NOS is in the better half of the industry, outperforming 76.67% of the companies in the same industry.
In the last couple of years the Gross Margin of NOS has grown nicely.
Industry RankSector Rank
OM 15.24%
PM (TTM) 15.38%
GM 71.52%
OM growth 3Y1.88%
OM growth 5Y4.55%
PM growth 3Y18.99%
PM growth 5Y5.33%
GM growth 3Y1.23%
GM growth 5Y2.42%
NOS.LS Yearly Profit, Operating, Gross MarginsNOS.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

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NOS is creating some value.
Compared to 1 year ago, NOS has about the same amount of shares outstanding.
NOS has less shares outstanding than it did 5 years ago.
NOS has a worse debt/assets ratio than last year.
NOS.LS Yearly Shares OutstandingNOS.LS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M
NOS.LS Yearly Total Debt VS Total AssetsNOS.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.2 Solvency

Based on the Altman-Z score of 1.28, we must say that NOS is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of NOS (1.28) is better than 63.33% of its industry peers.
NOS has a debt to FCF ratio of 3.49. This is a good value and a sign of high solvency as NOS would need 3.49 years to pay back of all of its debts.
NOS's Debt to FCF ratio of 3.49 is amongst the best of the industry. NOS outperforms 90.00% of its industry peers.
NOS has a Debt/Equity ratio of 1.27. This is a high value indicating a heavy dependency on external financing.
NOS has a worse Debt to Equity ratio (1.27) than 70.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 3.49
Altman-Z 1.28
ROIC/WACC1.46
WACC6.28%
NOS.LS Yearly LT Debt VS Equity VS FCFNOS.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B

2.3 Liquidity

A Current Ratio of 0.57 indicates that NOS may have some problems paying its short term obligations.
With a Current ratio value of 0.57, NOS is not doing good in the industry: 76.67% of the companies in the same industry are doing better.
NOS has a Quick Ratio of 0.57. This is a bad value and indicates that NOS is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.52, NOS is doing worse than 76.67% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.57
Quick Ratio 0.52
NOS.LS Yearly Current Assets VS Current LiabilitesNOS.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 11.36% over the past year.
NOS shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.83% yearly.
The Revenue has been growing slightly by 5.19% in the past year.
The Revenue has been growing slightly by 0.27% on average over the past years.
EPS 1Y (TTM)11.36%
EPS 3Y22.59%
EPS 5Y3.83%
EPS Q2Q%11.11%
Revenue 1Y (TTM)5.19%
Revenue growth 3Y5.31%
Revenue growth 5Y0.27%
Sales Q2Q%6.08%

3.2 Future

The Earnings Per Share is expected to decrease by -4.31% on average over the next years.
The Revenue is expected to grow by 1.14% on average over the next years.
EPS Next Y8.19%
EPS Next 2Y-6.44%
EPS Next 3Y-3.55%
EPS Next 5Y-4.31%
Revenue Next Year4.89%
Revenue Next 2Y2.78%
Revenue Next 3Y1.92%
Revenue Next 5Y1.14%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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.
NOS.LS Yearly Revenue VS EstimatesNOS.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
NOS.LS Yearly EPS VS EstimatesNOS.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.1 0.2 0.3 0.4

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 9.24 indicates a reasonable valuation of NOS.
86.67% of the companies in the same industry are more expensive than NOS, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 29.35. NOS is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 14.78, the valuation of NOS can be described as correct.
The rest of the industry has a similar Price/Forward Earnings ratio as NOS.
When comparing the Price/Forward Earnings ratio of NOS to the average of the S&P500 Index (22.10), we can say NOS is valued slightly cheaper.
Industry RankSector Rank
PE 9.24
Fwd PE 14.78
NOS.LS Price Earnings VS Forward Price EarningsNOS.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, NOS is valued cheaper than 90.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 5.09
EV/EBITDA N/A
NOS.LS Per share dataNOS.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3

4.3 Compensation for Growth

NOS's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
NOS has an outstanding profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as NOS's earnings are expected to decrease with -3.55% in the coming years.
PEG (NY)1.13
PEG (5Y)2.41
EPS Next 2Y-6.44%
EPS Next 3Y-3.55%

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7

5. Dividend

5.1 Amount

NOS has a Yearly Dividend Yield of 7.85%, which is a nice return.
NOS's Dividend Yield is rather good when compared to the industry average which is at 5.01. NOS pays more dividend than 96.67% of the companies in the same industry.
NOS's Dividend Yield is rather good when compared to the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 7.85%

5.2 History

On average, the dividend of NOS grows each year by 7.48%, which is quite nice.
Dividend Growth(5Y)7.48%
Div Incr Years1
Div Non Decr Years4
NOS.LS Yearly Dividends per shareNOS.LS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 0.1 0.2 0.3

5.3 Sustainability

NOS pays out 69.96% of its income as dividend. This is not a sustainable payout ratio.
NOS's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP69.96%
EPS Next 2Y-6.44%
EPS Next 3Y-3.55%
NOS.LS Yearly Income VS Free CF VS DividendNOS.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M
NOS.LS Dividend Payout.NOS.LS Dividend Payout, showing the Payout Ratio.NOS.LS Dividend Payout.PayoutRetained Earnings

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NOS SGPS

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

4.53

+0.07 (+1.57%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupTelecommunication Services
GICS IndustryDiversified Telecommunication Services
Earnings (Last)10-30 2024-10-30/amc
Earnings (Next)03-11 2025-03-11/amc
Inst Owners16.07%
Inst Owner ChangeN/A
Ins Owners0.27%
Ins Owner ChangeN/A
Market Cap2.33B
Analysts67.37
Price Target3.99 (-11.92%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.85%
Yearly Dividend0.43
Dividend Growth(5Y)7.48%
DP69.96%
Div Incr Years1
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)65.26%
Min EPS beat(2)4.22%
Max EPS beat(2)126.31%
EPS beat(4)4
Avg EPS beat(4)94.61%
Min EPS beat(4)4.22%
Max EPS beat(4)164.03%
EPS beat(8)6
Avg EPS beat(8)129.77%
EPS beat(12)9
Avg EPS beat(12)97.8%
EPS beat(16)12
Avg EPS beat(16)92.24%
Revenue beat(2)1
Avg Revenue beat(2)0.5%
Min Revenue beat(2)-0.08%
Max Revenue beat(2)1.08%
Revenue beat(4)2
Avg Revenue beat(4)0.1%
Min Revenue beat(4)-1.38%
Max Revenue beat(4)1.08%
Revenue beat(8)5
Avg Revenue beat(8)-0.04%
Revenue beat(12)8
Avg Revenue beat(12)0.59%
Revenue beat(16)9
Avg Revenue beat(16)0.47%
PT rev (1m)0.83%
PT rev (3m)-2.41%
EPS NQ rev (1m)0%
EPS NQ rev (3m)225%
EPS NY rev (1m)-0.91%
EPS NY rev (3m)0.83%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.02%
Revenue NY rev (1m)-0.06%
Revenue NY rev (3m)0.89%
Valuation
Industry RankSector Rank
PE 9.24
Fwd PE 14.78
P/S 1.4
P/FCF 5.09
P/OCF 2.56
P/B 2.32
P/tB N/A
EV/EBITDA N/A
EPS(TTM)0.49
EY10.82%
EPS(NY)0.31
Fwd EY6.76%
FCF(TTM)0.89
FCFY19.66%
OCF(TTM)1.77
OCFY39.11%
SpS3.23
BVpS1.95
TBVpS-0.31
PEG (NY)1.13
PEG (5Y)2.41
Profitability
Industry RankSector Rank
ROA 7.65%
ROE 25.46%
ROCE 10.32%
ROIC 9.18%
ROICexc 9.3%
ROICexgc 17.9%
OM 15.24%
PM (TTM) 15.38%
GM 71.52%
FCFM 27.59%
ROA(3y)5.37%
ROA(5y)4.73%
ROE(3y)18.29%
ROE(5y)15.76%
ROIC(3y)7.29%
ROIC(5y)7.43%
ROICexc(3y)7.33%
ROICexc(5y)7.56%
ROICexgc(3y)14.31%
ROICexgc(5y)14.26%
ROCE(3y)8.21%
ROCE(5y)8.37%
ROICexcg growth 3Y2.15%
ROICexcg growth 5Y1.18%
ROICexc growth 3Y2.13%
ROICexc growth 5Y1.25%
OM growth 3Y1.88%
OM growth 5Y4.55%
PM growth 3Y18.99%
PM growth 5Y5.33%
GM growth 3Y1.23%
GM growth 5Y2.42%
F-Score8
Asset Turnover0.5
Health
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 3.49
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 27.3%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 179.35%
Current Ratio 0.57
Quick Ratio 0.52
Altman-Z 1.28
F-Score8
WACC6.28%
ROIC/WACC1.46
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)35.51%
Cap/Sales(5y)34.27%
Profit Quality(3y)83.36%
Profit Quality(5y)126.31%
High Growth Momentum
Growth
EPS 1Y (TTM)11.36%
EPS 3Y22.59%
EPS 5Y3.83%
EPS Q2Q%11.11%
EPS Next Y8.19%
EPS Next 2Y-6.44%
EPS Next 3Y-3.55%
EPS Next 5Y-4.31%
Revenue 1Y (TTM)5.19%
Revenue growth 3Y5.31%
Revenue growth 5Y0.27%
Sales Q2Q%6.08%
Revenue Next Year4.89%
Revenue Next 2Y2.78%
Revenue Next 3Y1.92%
Revenue Next 5Y1.14%
EBIT growth 1Y20.15%
EBIT growth 3Y7.29%
EBIT growth 5Y4.83%
EBIT Next Year236.07%
EBIT Next 3Y49.62%
EBIT Next 5Y27.2%
FCF growth 1Y2427.08%
FCF growth 3Y10.82%
FCF growth 5Y1.93%
OCF growth 1Y25.92%
OCF growth 3Y2.32%
OCF growth 5Y0.66%