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KONINKLIJKE KPN NV (KPN.AS) Stock Fundamental Analysis

AMS:KPN - Euronext Amsterdam - NL0000009082 - Common Stock - Currency: EUR

4.14  +0 (+0.02%)

Fundamental Rating

5

Overall KPN gets a fundamental rating of 5 out of 10. We evaluated KPN against 32 industry peers in the Diversified Telecommunication Services industry. While KPN has a great profitability rating, there are quite some concerns on its financial health. KPN is quite expensive at the moment. It does show a decent growth rate. KPN 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 KPN was profitable.
KPN had a positive operating cash flow in the past year.
Each year in the past 5 years KPN has been profitable.
KPN had a positive operating cash flow in each of the past 5 years.
KPN.AS Yearly Net Income VS EBIT VS OCF VS FCFKPN.AS 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 2024 500M 1B 1.5B 2B

1.2 Ratios

With an excellent Return On Assets value of 6.23%, KPN belongs to the best of the industry, outperforming 90.63% of the companies in the same industry.
The Return On Equity of KPN (21.97%) is better than 93.75% of its industry peers.
With an excellent Return On Invested Capital value of 10.77%, KPN belongs to the best of the industry, outperforming 87.50% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for KPN is above the industry average of 7.75%.
The last Return On Invested Capital (10.77%) for KPN is above the 3 year average (10.15%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.23%
ROE 21.97%
ROIC 10.77%
ROA(3y)6.38%
ROA(5y)6.75%
ROE(3y)21.85%
ROE(5y)25.23%
ROIC(3y)10.15%
ROIC(5y)9.14%
KPN.AS Yearly ROA, ROE, ROICKPN.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

KPN has a Profit Margin of 14.24%. This is amongst the best in the industry. KPN outperforms 87.50% of its industry peers.
KPN's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 25.11%, KPN belongs to the top of the industry, outperforming 93.75% of the companies in the same industry.
In the last couple of years the Operating Margin of KPN has grown nicely.
KPN has a Gross Margin of 78.55%. This is amongst the best in the industry. KPN outperforms 81.25% of its industry peers.
KPN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 25.11%
PM (TTM) 14.24%
GM 78.55%
OM growth 3Y7.85%
OM growth 5Y7.45%
PM growth 3Y-16.33%
PM growth 5Y4.6%
GM growth 3Y1.42%
GM growth 5Y0.59%
KPN.AS Yearly Profit, Operating, Gross MarginsKPN.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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2

2. Health

2.1 Basic Checks

KPN has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for KPN has been reduced compared to 1 year ago.
Compared to 5 years ago, KPN has less shares outstanding
The debt/assets ratio for KPN is higher compared to a year ago.
KPN.AS Yearly Shares OutstandingKPN.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B
KPN.AS Yearly Total Debt VS Total AssetsKPN.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

Based on the Altman-Z score of 1.19, we must say that KPN is in the distress zone and has some risk of bankruptcy.
KPN's Altman-Z score of 1.19 is in line compared to the rest of the industry. KPN outperforms 50.00% of its industry peers.
KPN has a debt to FCF ratio of 7.27. This is a slightly negative value and a sign of low solvency as KPN would need 7.27 years to pay back of all of its debts.
KPN has a Debt to FCF ratio (7.27) which is in line with its industry peers.
A Debt/Equity ratio of 1.67 is on the high side and indicates that KPN has dependencies on debt financing.
KPN has a worse Debt to Equity ratio (1.67) than 78.13% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.67
Debt/FCF 7.27
Altman-Z 1.19
ROIC/WACC1.76
WACC6.11%
KPN.AS Yearly LT Debt VS Equity VS FCFKPN.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.3 Liquidity

A Current Ratio of 0.70 indicates that KPN may have some problems paying its short term obligations.
With a Current ratio value of 0.70, KPN is not doing good in the industry: 62.50% of the companies in the same industry are doing better.
A Quick Ratio of 0.68 indicates that KPN may have some problems paying its short term obligations.
KPN has a Quick ratio of 0.68. This is comparable to the rest of the industry: KPN outperforms 43.75% of its industry peers.
Industry RankSector Rank
Current Ratio 0.7
Quick Ratio 0.68
KPN.AS Yearly Current Assets VS Current LiabilitesKPN.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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5

3. Growth

3.1 Past

KPN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.33%, which is quite good.
KPN shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.03% yearly.
The Revenue has been growing slightly by 3.00% in the past year.
The Revenue has been growing slightly by 0.42% on average over the past years.
EPS 1Y (TTM)10.33%
EPS 3Y-8.8%
EPS 5Y7.03%
EPS Q2Q%-12.16%
Revenue 1Y (TTM)3%
Revenue growth 3Y2.15%
Revenue growth 5Y0.42%
Sales Q2Q%2.98%

3.2 Future

KPN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.98% yearly.
KPN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.37% yearly.
EPS Next Y9.24%
EPS Next 2Y8.35%
EPS Next 3Y8.34%
EPS Next 5Y8.98%
Revenue Next Year2.81%
Revenue Next 2Y2.47%
Revenue Next 3Y2.26%
Revenue Next 5Y2.37%

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 accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
KPN.AS Yearly Revenue VS EstimatesKPN.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B
KPN.AS Yearly EPS VS EstimatesKPN.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.1 0.2 0.3

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 18.82, which indicates a rather expensive current valuation of KPN.
KPN's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of KPN to the average of the S&P500 Index (26.20), we can say KPN is valued slightly cheaper.
KPN is valuated correctly with a Price/Forward Earnings ratio of 16.03.
KPN's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. KPN is more expensive than 62.50% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of KPN to the average of the S&P500 Index (22.13), we can say KPN is valued slightly cheaper.
Industry RankSector Rank
PE 18.82
Fwd PE 16.03
KPN.AS Price Earnings VS Forward Price EarningsKPN.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

KPN's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. KPN is more expensive than 62.50% of the companies in the same industry.
KPN's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 16.15
EV/EBITDA 8.35
KPN.AS Per share dataKPN.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0.5 1

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates KPN does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of KPN may justify a higher PE ratio.
PEG (NY)2.04
PEG (5Y)2.68
EPS Next 2Y8.35%
EPS Next 3Y8.34%

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7

5. Dividend

5.1 Amount

KPN has a Yearly Dividend Yield of 4.07%, which is a nice return.
Compared to an average industry Dividend Yield of 4.30, KPN has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, KPN pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.07%

5.2 History

On average, the dividend of KPN grows each year by 6.22%, which is quite nice.
Dividend Growth(5Y)6.22%
Div Incr Years6
Div Non Decr Years6
KPN.AS Yearly Dividends per shareKPN.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15

5.3 Sustainability

KPN pays out 73.56% of its income as dividend. This is not a sustainable payout ratio.
The dividend of KPN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP73.56%
EPS Next 2Y8.35%
EPS Next 3Y8.34%
KPN.AS Yearly Income VS Free CF VS DividendKPN.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
KPN.AS Dividend Payout.KPN.AS Dividend Payout, showing the Payout Ratio.KPN.AS Dividend Payout.PayoutRetained Earnings

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KONINKLIJKE KPN NV

AMS:KPN (5/29/2025, 7:00:00 PM)

4.14

+0 (+0.02%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupTelecommunication Services
GICS IndustryDiversified Telecommunication Services
Earnings (Last)04-24 2025-04-24/bmo
Earnings (Next)07-23 2025-07-23
Inst Owners65.79%
Inst Owner ChangeN/A
Ins Owners0.13%
Ins Owner ChangeN/A
Market Cap16.10B
Analysts71.2
Price Target4.19 (1.21%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.07%
Yearly Dividend0.17
Dividend Growth(5Y)6.22%
DP73.56%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-5.58%
Min EPS beat(2)-21.84%
Max EPS beat(2)10.69%
EPS beat(4)3
Avg EPS beat(4)1.43%
Min EPS beat(4)-21.84%
Max EPS beat(4)12.28%
EPS beat(8)7
Avg EPS beat(8)10.15%
EPS beat(12)11
Avg EPS beat(12)15.43%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-0.5%
Min Revenue beat(2)-1.01%
Max Revenue beat(2)0%
Revenue beat(4)1
Avg Revenue beat(4)-0.15%
Min Revenue beat(4)-1.01%
Max Revenue beat(4)1.34%
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)3.02%
PT rev (3m)2.89%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.02%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-0.07%
Revenue NY rev (3m)0.03%
Valuation
Industry RankSector Rank
PE 18.82
Fwd PE 16.03
P/S 2.87
P/FCF 16.15
P/OCF 7.05
P/B 4.43
P/tB 24.66
EV/EBITDA 8.35
EPS(TTM)0.22
EY5.31%
EPS(NY)0.26
Fwd EY6.24%
FCF(TTM)0.26
FCFY6.19%
OCF(TTM)0.59
OCFY14.19%
SpS1.44
BVpS0.93
TBVpS0.17
PEG (NY)2.04
PEG (5Y)2.68
Profitability
Industry RankSector Rank
ROA 6.23%
ROE 21.97%
ROCE 13.93%
ROIC 10.77%
ROICexc 12.15%
ROICexgc 18.14%
OM 25.11%
PM (TTM) 14.24%
GM 78.55%
FCFM 17.79%
ROA(3y)6.38%
ROA(5y)6.75%
ROE(3y)21.85%
ROE(5y)25.23%
ROIC(3y)10.15%
ROIC(5y)9.14%
ROICexc(3y)10.93%
ROICexc(5y)9.93%
ROICexgc(3y)15.72%
ROICexgc(5y)14.55%
ROCE(3y)13.12%
ROCE(5y)11.8%
ROICexcg growth 3Y10.82%
ROICexcg growth 5Y5.54%
ROICexc growth 3Y10.74%
ROICexc growth 5Y6.37%
OM growth 3Y7.85%
OM growth 5Y7.45%
PM growth 3Y-16.33%
PM growth 5Y4.6%
GM growth 3Y1.42%
GM growth 5Y0.59%
F-Score6
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 1.67
Debt/FCF 7.27
Debt/EBITDA 2.32
Cap/Depr 106.54%
Cap/Sales 22.97%
Interest Coverage 6.48
Cash Conversion 87.34%
Profit Quality 124.94%
Current Ratio 0.7
Quick Ratio 0.68
Altman-Z 1.19
F-Score6
WACC6.11%
ROIC/WACC1.76
Cap/Depr(3y)99.71%
Cap/Depr(5y)96.69%
Cap/Sales(3y)23.04%
Cap/Sales(5y)24.4%
Profit Quality(3y)124.87%
Profit Quality(5y)106.46%
High Growth Momentum
Growth
EPS 1Y (TTM)10.33%
EPS 3Y-8.8%
EPS 5Y7.03%
EPS Q2Q%-12.16%
EPS Next Y9.24%
EPS Next 2Y8.35%
EPS Next 3Y8.34%
EPS Next 5Y8.98%
Revenue 1Y (TTM)3%
Revenue growth 3Y2.15%
Revenue growth 5Y0.42%
Sales Q2Q%2.98%
Revenue Next Year2.81%
Revenue Next 2Y2.47%
Revenue Next 3Y2.26%
Revenue Next 5Y2.37%
EBIT growth 1Y3.53%
EBIT growth 3Y10.18%
EBIT growth 5Y7.9%
EBIT Next Year94.35%
EBIT Next 3Y26.93%
EBIT Next 5Y18.24%
FCF growth 1Y6.63%
FCF growth 3Y1.56%
FCF growth 5Y1.25%
OCF growth 1Y4.53%
OCF growth 3Y2.1%
OCF growth 5Y2.44%