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    Communication Services

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    Telecommunications Services
Nos, S.g.p.s., S.a.

Nos, S.g.p.s., S.a.

NOS.LS
Nos, S.g.p.s., S.a.undefined flagEuronext Lisbon
4.95
EUR
-0.10
- -
2.54BMarket Cap
Nos, S.g.p.s., S.a.
NOS.LS
(Euronext Lisbon)

Recent

price

4.95

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.83
2.75
2.53
2.58
2.66
2.78
2.92
3.04
3.07
2.85
2.67
2.79
2.97
3.12
3.33
3.56
3.64
Revenue per Share
0.12
0.11
0.13
0.03
0.15
0.16
0.18
0.24
0.27
0.28
0.18
0.28
0.44
0.35
0.54
0.48
0.49
Basic EPS, GAAP
0.36
0.45
-0.46
-0.47
-0.74
-0.92
-0.84
-0.75
-0.88
-0.86
-0.93
-1.32
-0.92
-0.88
-0.9
-0.81
-0.81
Free Cash Flow per Basic Share
0.16
0.16
0.16
0.1
0.12
0.14
0.16
0.2
0.3
0.35
0.28
0.28
0.28
0.43
0.35
0.4
- -
Dividend per Share
0.27
0.18
0.14
0.04
0.16
0.17
0.19
0.25
0.28
0.29
0.19
0.29
2.11
2.03
2.22
0.98
0.62
Book Value per Share
-0.28
-0.27
-0.34
-0.26
-0.2
-0.22
-0.21
0.05
0.07
- -
-0.17
-0.47
-0.31
-0.42
-0.12
-0.19
-0.04
Tangible Book Value per Share
308
309
309
380
514
514
513
513
513
512
513
512
512
511
509
512
512
Basic Weighted Avg Shares
872
851
782
981
1,369
1,430
1,497
1,559
1,576
1,458
1,368
1,430
1,521
1,597
1,696
1,823
1,862
Sales/Revenue/Turnover
9.51
11.05
13.08
12.1
12.05
11.55
10.78
22.23
24.96
21.96
21.13
20.81
17.52
20.66
22.21
23
23.33
Operating Margin (%)
219
218
204
243
339
366
392
229
230
319
311
321
383
386
400
406
406
Depreciation Expense
35
34
39
11
75
83
90
122
138
143
92
144
225
181
272
246
249
Net Income, GAAP
20.26
29.79
32.35
59.34
18.62
28.04
19.81
11.89
16.68
18.61
16.09
7.57
12.7
9.37
13.46
3.88
5.03
Effective Tax Rate (%)
4.06
4.02
5.05
1.1
5.46
5.79
6.04
7.83
8.74
9.84
6.73
10.08
14.76
11.33
16.05
13.49
13.36
Profit Margin (%)
133
-132
-98
-307
-634
-296
-231
-198
-311
-189
-113
-341
-487
-228
-258
-317
-424
Working Capital
978
710
712
928
617
979
972
955
1,014
1,217
1,364
1,276
1,210
1,497
1,306
1,358
1,174
LT Debt
250
232
219
1,060
1,060
1,064
1,053
1,107
1,054
1,012
956
963
1,052
995
1,087
1,125
1,191
Total Equity
5.23
4.82
5.5
3.06
6.6
5.84
6.21
14.28
14.89
11.52
10.48
11.7
9.55
11.85
12.75
15.24
14.92
Return on Invested Capital (%)
4.74
5.44
5.79
2.41
9.28
8.59
8.7
11.1
12.46
11.02
7.21
10.65
11.54
8.97
12.5
12.76
14.03
Return on Capital (%)
47.74
49.77
79.95
36.67
155.93
98.63
98.56
109.61
101.99
98.43
74.86
116.98
36.54
17.11
25.17
30.15
40.34
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
366
318
403
LT Borrowings
819
806
627
LT Finance Leases
548
551
546
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
512
512
513
Market Capitalization
1,986
2,050
2,784

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
571
568
542
Cash, Cash Equivalents & STI
9
14
9
Accounts Receivable, Net
472
328
318
Inventories
36
36
32
Total Current Liabilities
941
885
966
Payables & Accruals
- -
- -
- -
ST Debt
366
318
403
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.71%
3.45%
3.45%
Free Cash Flow
0.37%
0.03%
-9.01%
Net Income, GAAP
15.92%
26.76%
-9.69%
Sales/Revenue/Turnover
2.58%
5.92%
7.48%
Total Cash Common Dividend
13.5%
10.05%
14.5%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
403
412
433
448
1,696
2025
421
458
457
486
1,823
2026
460
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.13
0.16
0.1
0.14
0.54
2025
0.12
0.11
0.13
0.12
0.48
2026
0.12
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.35
2025
- -
- -
- -
- -
0.4
2026
- -
- -
- -
- -
- -
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Business
NOS, S.G.P.S., S.A. (NOS.LS) is a leading Portuguese telecommunications and media company that provides integrated fixed and mobile communications services; cable and satellite television broadcasting; high-speed internet access; voice telephony including voice over internet protocol; mobile broadband and voice services; and advanced 5G network capabilities supported by extensive fiber infrastructure. The company operates in the Telco and Audiovisual segments, serving personal, residential, and business customers across Portugal with next-generation solutions encompassing television content delivery; data services; datacenter management; engineering and consultancy in information systems; production and distribution of pay-TV channels such as TVCine premium movie channels and thematic channels through Dreamia joint venture with AMC Networks; film distribution via NOS Audiovisuais; and exhibition through Cinemas NOS, Portugal's largest cinema chain. Founded in 1994 as TV Cabo and headquartered at Rua Actor Antonio Silva 9, Campo Grande, Lisbon, NOS resulted from the 2013 merger of ZON Multimédia and Optimus Telecommunications, rebranding to NOS in 2014, and maintains primary operations in Portugal with a focus on delivering converged communication and entertainment experiences. In recent developments, NOS executed the acquisition of 100% of Claranet Portugal in March 2025, doubling the size of its IT services business, expanding exposure to the EUR 4.6 billion IT market, and adding scale through key technology partnerships and a broader sales footprint; received clearance from the Portuguese Competition Authority for this transaction in early March 2025; secured bank financing updates in June 2025 and March 2025; registered new share capital in June 2025; and benefited from credit rating actions including Fitch affirming 'BBB' issuer rating in October 2025 and S&P revising outlook to Positive while affirming 'BBB-' in May 2025.