Cellnex Telecom SA (0R9C) Share Price & Analysis
0R9C Stock Chart & Stats
- Day’s Range
- EUR 25.79 - EUR 26.01
- 52-Week Range
- EUR 21.85 - EUR 32.62
- Previous Close
- EUR 25.67
- Volume
- 24.03K
- Average Volume (3M)
- 189.69K
- Market Cap
- EUR 17.06B
- Enterprise Value
- EUR 39.06B
- Total Cash (Recent Filing)
- EUR 1.85B
- Total Debt (Recent Filing)
- EUR 22.18B
- Price to Earnings (P/E)
- ―
- Beta
- 1.29
- Next Earnings
- Nov 06, 2026 (Est.)
- EPS Estimate
- 0.04
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 2.82%
Bulls Say, Bears Say
Bulls Say
Recurring Neutral-host Infrastructure Model
Cellnex’s neutral-host model supports recurring infrastructure income through long-term customer contracts and inflation-linked escalators. Shared sites can add tenants and capacity with comparatively limited incremental operating cost, creating durable revenue visibility and operating leverage.
Organic Growth And High Margins
Revenue and EBITDA growth, combined with an 84.6% EBITDA margin and lower cost per tower, indicate continued operating leverage. Growth across towers, fiber, connectivity and digital networks broadens the earnings base and supports sustainable profitability at the operating level.
Improving Cash Generation And Liquidity
The sharp improvement in free cash flow after expansion and Build-to-Suit spending strengthens Cellnex’s ability to fund operations and investment internally. Substantial cash and undrawn committed facilities also provide flexibility to manage maturities and pursue its infrastructure strategy.
Bears Say
High And Rising Leverage
Cellnex’s rising debt burden reduces financial flexibility and leaves cash generation modest relative to leverage. Higher indebtedness can constrain future investment and shareholder distributions, while persistent losses make deleveraging more difficult if operating conditions or funding access weaken.
Persistent Net Losses
Despite strong EBITDA margins and operating cash flow, Cellnex has not converted its operating scale into consistent bottom-line earnings. Continued net losses weaken returns on equity, limit internally generated capital and raise questions about the sustainability of earnings quality over time.
Potential Italy Regulatory Investment Burden
Potential Italian coverage obligations could require a large increase in site deployment and related network investment. The scale and complexity of compliance may raise capital needs, extend execution timelines and pressure free cash flow, particularly while Cellnex already carries substantial leverage.
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Cellnex Telecom SA Stock Smart Score
Company Description
Cellnex Telecom SA
Cellnex Telecom, S.A. is a leading provider and operator of wireless telecommunications infrastructure, with extensive operations spanning across several European countries, including Austria, Denmark, France, Ireland, Italy, the Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Its business is structured into three distinct divisions: Telecom Infrastructure Services, Broadcasting Networks, and a comprehensive Network Services and Others segment. Under Telecom Infrastructure, Cellnex provides co-location facilities, enabling mobile network operators to house their telecommunications and wireless broadcasting apparatus. It also deploys advanced Distributed Antenna Systems (DAS) and small cells – integrated networks of geographically dispersed antenna nodes that deliver seamless wireless connectivity. The Broadcasting Networks division encompasses a wide range of offerings, from various forms of Digital Terrestrial Television (DTT) – including standard, hybrid, satellite, and premium DTT – to FM and digital radio broadcasts. Furthermore, it delivers internet-based media services, such as multi-screen video platforms, digital business support tools, and efficient content distribution. Its Network Services and Others segment is broad, extending to critical data transportation, which includes satellite links, digital terrestrial circuits, direct connections to Amazon services, and general internet throughput. This segment also manages security and control solutions, comprising dedicated security and emergency networks, specialized terminals, forest fire early warning systems, and central control facilities. Additionally, it develops smart communication networks, offering wireless broadband, innovative irrigation management for rural areas, and a suite of Internet of Things (IoT) services. Complementing these, Cellnex provides smart city management solutions, expert engineering and consulting, and comprehensive operation and maintenance services. The company is also active in the construction and management of fiber optic telecommunication networks. Cellnex caters to a diverse clientele, including mobile network operators, broadcast media companies, and public administrations. Founded in 2008, the company was originally known as Abertis Telecom Terrestre, S.A.U., before rebranding as Cellnex Telecom, S.A. in April 2015. Its corporate headquarters are situated in Madrid, Spain.
- Sector
- Realestate
- Industry
- Telecommunications Services
- CEO
- Marco Emilio Angelo Patuano
- Employees
- 2,474
- Website
- www.cellnex.com
- Address
- Juan EsplandiU, 11-13, Madrid, CT, 28007, ES
Cellnex Telecom SA (0R9C) Earnings & Revenues
0R9C Company Deck
0R9C Earnings Call
Earnings Call SentimentPositive
The call emphasized clear and measurable operational and financial progress: predictable organic PoP growth (~+4.9%), margin expansion (~+200 bps), significant free cash flow improvement (FCF after expansion/BTS CapEx ~EUR 301m versus ~EUR 19m prior year), strong liquidity (~EUR 5.3bn) and active shareholder returns (EUR 1bn total in 2026). Commercial momentum was evidenced by multiple contract renewals and new Build‑to‑Suit/neutral‑host wins. Challenges include regulatory uncertainty (notably in France and potential obligations in Italy), slower-than-expected consolidation-driven densification in the U.K., normalization of Build‑to‑Suit activity reducing a prior growth tailwind, and some market/valuation noise. On balance, the positives — improved margins, cash generation, liquidity and shareholder returns — materially outweigh the listed headwinds, which are important but manageable or longer‑term in nature.
View all GB:0R9C earnings summaries0R9C Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 13 | 6 | 3 |
| Technical Analysis | 3 | 6 | 1 |
| Moving Averages | 10 | 0 | 2 |