CEZ, a. s.

SEP-CEZ

Basic

Market Cap
CZK 486.35B
EV
CZK 614.47B
Shares Out
536.81M
Revenue
CZK 330.82B
Employees
30,600

Margins

Gross
48.01%
EBITDA
40.45%
Operating
29.26%
Pre-Tax
25.28%
Net
9.76%
FCF
16.21%

Returns (5Yr Avg)

ROA
2.71%
ROTA
16.52%
ROE
14.51%
ROCE
10.87%
ROIC
3.84%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
CZK 847.76
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
CZK 50.69B
Net Debt
CZK 126.52B
Debt/Equity
0.67
EBIT/Interest
7.34

Growth (CAGR)

Rev 3Yr
16.14%
Rev 5Yr
12.1%
Rev 10Yr
4.68%
Dil EPS 3Yr
852.02%
Dil EPS 5Yr
20.02%
Dil EPS 10Yr
1.38%
Rev Fwd 2Yr
-2.07%
EBITDA Fwd 2Yr
-5.26%
EPS Fwd 2Yr
2%
EPS LT Growth Est
2.4%

Dividends

Yield
—
Payout
86.5%
DPS
CZK 52
DPS Growth 3Yr
—
DPS Growth 5Yr
16.72%
DPS Growth 10Yr
2.66%
DPS Growth Fwd 2Yr
25.28%

Metric	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues				201,781	209,522	224,822	281,053	336,384	330,449
Other Revenues, Total				126	123	192	4,480	392	374
Total Revenues				201,907	209,645	225,014	285,533	336,776	330,823
Total Revenues % Chg.				11.3%	3.8%	7.3%	26.9%	17.9%	8.9%
Cost of Goods Sold, Total				115,409	116,870	123,000	157,565	176,070	171,998
Gross Profit				86,498	92,775	102,014	127,968	160,706	158,825
Selling General & Admin Expenses, Total				28,820	30,855	30,591	33,915	37,783	39,309
Provision for Bad Debts				386	544	-602	377	443	441
Depreciation & Amortization				29,016	28,284	31,628	32,757	35,336	35,721
Other Operating Expenses				-1,962	-2,974	9,234	-37,373	-2,015	-13,433
Other Operating Expenses, Total				56,260	56,709	70,851	29,676	71,547	62,038
Operating Income				30,238	36,066	31,163	98,292	89,159	96,787
Interest Expense, Total				-7,366	-7,224	-6,220	-7,874	-13,588	-13,185
Interest And Investment Income				543	1,850	1,937	3,815	6,289	5,483
Net Interest Expenses				-6,823	-5,374	-4,283	-4,059	-7,299	-7,702
Income (Loss) On Equity Invest.				18	188	-534	897	832	450
Currency Exchange Gains (Loss)				-315	1,242	689	-4,433	1,097	1,097
Other Non Operating Income (Expenses)				-74	-631	1,202	5,420	532	-1,662
EBT, Excl. Unusual Items				23,044	31,491	28,237	96,117	84,321	88,970
Impairment of Goodwill	—	—		-1,544	-2,848	—	—	—	—
Gain (Loss) On Sale Of Investments				94	242	938	390	-797	-797
Gain (Loss) On Sale Of Assets				133	235	304	252	792	760
Asset Writedown				-3,316	-21,214	-15,799	2,570	-5,301	-5,317
Other Unusual Items	—		—	—	—	-254	294	1	1
EBT, Incl. Unusual Items				18,411	7,906	13,426	99,623	79,016	83,617
Income Tax Expense				3,911	2,438	3,517	18,918	49,442	51,310
Earnings From Continuing Operations				14,500	5,468	9,909	80,705	29,574	32,307
Minority Interest				-127	-30	-118	81	-50	-21
Net Income				14,373	5,438	9,791	80,786	29,524	32,286
Net Income to Common Incl Extra Items				14,373	5,438	9,791	80,786	29,524	32,286
Net Income to Common Excl. Extra Items				14,373	5,438	9,791	80,786	29,524	32,286
Total Shares Outstanding				535.4	535.5	536.7	536.8	536.8	537.1
Weighted Avg. Shares Outstanding				535.3	535.5	536.2	536.8	536.8	537.1
Weighted Avg. Shares Outstanding Dil				535.4	535.5	536.3	536.8	536.8	537.1
EPS				26.9	10.2	18.3	150.5	55	60.1
EPS Diluted				26.8	10.2	18.3	150.5	55	60.1
EBITDA				61,525	66,605	65,170	133,156	125,891	133,804
Effective Tax Rate				21.2%	30.8%	26.2%	19%	62.6%	61.4%