Added to YB: 2026-03-25
Pitch date: 2026-01-26
CCD.JO [bullish]
Cell C Holdings Limited
-12.43%
current return
Author Info
No bio for this author
Company Info
Cell C Holdings Limited operates as a telecommunications and technology company in South Africa. The company engages in retail and wholesale businesses.
Market Cap
ZAR 9.3B
Pitch Price
ZAR 30.25
Price Target
N/A
Dividend
N/A
EV/EBITDA
2.28
P/E
7.12
EV/Sales
0.76
Sector
Wireless Telecommunication Services
Category
turnaround
Cell C Holdings Limited - $CCD.JO
CCD.JO: SA's 3rd mobile operator (6% mkt share) post-2023 restructure to capex-light MVNO model roaming on MTN/VOD networks. 90% share of SA's 40 MVNOs (15% rev, growing mid-teens) led by Capitec Connect (1.2M subs targeting 10M). 40% ROCE trending to 25-30%, 17% EBITDA margin expanding to 22-24% on wholesale mix. 1x net debt/EBITDA, R5-6B spectrum value (fully amortized). 5x EV/EBITDA vs peers, 13% FCF yield. Risks: MTN/VOD roaming dependency, Capitec concentration, MVNO pricing pressure
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