Fact based stock research
Cellnex Telecom (BME:CLNX)

ES0105066007

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Cellnex Telecom stock research in summary

cellnextelecom.com

ANALYSIS: With an Obermatt Combined Rank of 1 (worse than 99% compared with investment alternatives), Cellnex Telecom (Integrated Telecommunication, Spain) shares have lower financial characteristics compared with similar stocks. Shares of Cellnex Telecom are low in value (priced high) with a consolidated Value Rank of 3 (worse than 97% of alternatives), show below-average growth (Growth Rank of 21), and are riskily financed (Safety Rank of 12), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 1, is a sell recommendation based on Cellnex Telecom's financial characteristics. As the company Cellnex Telecom's key financial metrics all exhibit below-average performance, such as low value (Obermatt Value Rank of 3), low growth (Obermatt Growth Rank of 21), and risky financing practices (Obermatt Safety Rank of 12), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. Such poor financial performance sometimes indicates that the company's business is all concentrated in some distant future. This is sometimes the case for high-tech or biotechnology companies. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and risky today. In such cases, the Obermatt Method has limited value as it is based on facts we can observe today. If the facts are all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that should only amount to a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	3
Growth Rank	21
Safety Rank	12
Combined Rank	1

Country	Spain
Industry	Integrated Telecommunication
Index	IBEX 35, Employee Focus EU, Energy Efficient, Renewables Users
Size class	Medium

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Cellnex Telecom

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	3	14	21	3
GROWTH
GROWTH	11	73	57	21
SAFETY
SAFETY	49	12	16	12
SENTIMENT
SENTIMENT	42	56	35	^new
360° VIEW
360° VIEW	7	25	13	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Cellnex Telecom is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	3	14	21	3
GROWTH
GROWTH	11	73	57	21
SAFETY
SAFETY	49	12	16	12
COMBINED
COMBINED	4	16	16	1

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Cellnex Telecom the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 3 (worse than 97% compared with alternatives), Cellnex Telecom shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators where three out of four are below average for Cellnex Telecom. Only the Price-to-Book Capital ratio (also referred to as market-to-book ratio) indicates good stock value with a Price-to-Book Rank of 51, which means that the stock price is lower compared with invested capital than for 51% of comparable investments. All other value indicators are below the market median. Price-to-Sales is 5 which means the stock price compared with what market professionals expect for future profits is higher than 95% of comparable companies, indicating a low value concerning Cellnex Telecom's revenue levels. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Book Rank of 51 and for the dividend yields rank which is lower than for 72% of comparable companies, making the stock more expensive as regards to with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 3, is a sell recommendation based on Cellnex Telecom's stock price compared with the company's operational size and dividend yields. Why are market participants paying such a high price for Cellnex Telecom, where three out of four value indicators are below par? One reason could be that the company is well financed, indicated by the high book capital level, and has a promising future that is not yet visible in reported revenues and profits. That would also explain the low dividend yield because the company needs the cash to invest in its future. If investors can verify a picture in this sense, the stock may still be a good investment, even though current company-reported financials don't fully explain current stock prices. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	3	3	5	5
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	3	33	33	1
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	52	33	47	51
DIVIDEND YIELD
DIVIDEND YIELD	18	26	22	28
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	3	14	21	3

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Cellnex Telecom; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 21 (better than 21% compared with alternatives), Cellnex Telecom shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below-average for Cellnex Telecom. While Sales Growth ranks at 88, professionals currently expect the company to grow more than 88% of its competitors, while all other growth ranks are below the market median. Profit Growth has a rank of 6, which means that, currently, professionals expect the company to grow its profits less than 94% of its competitors, and Capital Growth has a low rank of 21. Historic stock returns were also below average with a current Stock Returns rank of 19 which means that the stock returns have recently been below 81% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 21, is a sell recommendation for growth and momentum investors. If revenues are expected to increase, but all other growth indicators are negative, the company may be investing in future growth through means not visible in the balance sheet and thus not reflected in capital growth. The fact that Stock Returns have been below market doesn't mean that much, as it may be due to overly optimistic investor behavior in the past, which has been corrected to a more reasonable level recently. If that were the case, a positive Value Rank would be a reason to invest because the company is still expected to grow, while stock prices are now at a more reasonable level. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance isn't stellar here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	98	77	65	88
PROFIT GROWTH
PROFIT GROWTH	16	73	82	6
CAPITAL GROWTH
CAPITAL GROWTH	4	13	37	21
STOCK RETURNS
STOCK RETURNS	15	67	15	19
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	11	73	57	21

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Cellnex Telecom.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 12 (better than 12% compared with alternatives), the company Cellnex Telecom has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Cellnex Telecom is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for Cellnex Telecom. Liquidity is at 10, meaning that the company generates less profit to service its debt than 90% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 34, meaning the company has an above-average debt-to-equity ratio. It has more debt than 66% of its competitors. Finally, Refinancing is at a rank of 35 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 65% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 12 (worse than 88% compared with alternatives), Cellnex Telecom has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of Cellnex Telecom because it may suffer significantly in case of future difficulties. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	40	32	39	34
REFINANCING
REFINANCING	93	49	35	35
LIQUIDITY
LIQUIDITY	8	8	9	10
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	49	12	16	12

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Cellnex Telecom and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	69	69	^new
OPINIONS CHANGE
OPINIONS CHANGE	39	67	60	^new
PRO HOLDINGS
PRO HOLDINGS	43	49	24	^new
MARKET PULSE
MARKET PULSE	22	21	16	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	42	56	35	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Cellnex Telecom.
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