Can the BT share price continue to rise?
The BT (LSE: BT.A) share price rose about 75% in the past year. The company has been one of the best-performing stocks in the FTSE 100 index this year. I reviewed the company earlier this year. The stock is up around 40% since I purchased it for my portfolio. Here, I would like to analyse the company to decide whether to hold or sell my shares. 5G is here  and shares of this sleeping giant could be a great way for you to potentially profit! According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air And if you click here well show you something that could be key to unlocking 5Gs full potential...  BT companys fundamentals  BTs fiscal year 2021 revenue fell 7% to 21.3bn. This was in line with the managements estimates of the impact of Covid-19. Net profit dropped 15% to 1.47bn. The companys adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) came at 7.4bn, which was in line with the management estimate of 7.3bn to 7.5bn. Overall, in my opinion, the financial results were good. Next, the companys modernisation programme is progressing well. It delivered gross annualised savings of 764m in the first year with an associated cost of 438m. It has a target to save 2bn with an associated cost of 1.3bn over a period of five years. The UK government has increased its investment focus in the telecom sector. Also, Ofcom recently published the outcome of the Wholesale Fixed Telecoms Market Review, which was in favour of the company. It will give the company greater regulatory certainty and confidence to earn a fair return on its Fibre to the Premises) investment. BT was also able to get an additional 5G spectrum for 475m. The price was lower than the previous estimates. So, the company was able to get a refund of 227m. This will help the companys efficient rollout of 5G services and increased the cash available for investment. BT is considering selling BT Sports. Since its launch in 2013, it has increased its visibility in homes and pubs. However, it has been a drag on the companys profits. The move is aimed to focus on BTs core telephone business and investments in the full-fibre and 5G networks. This, in my opinion, will also increase profits. The BT share price  risks to consider  The company has a net financial debt of 11.7bn compared to 11.3bn at the end of March 2020. I think this debt is high for the company. It has a debt-to-equity ratio of 1.43. This is a bit of concern for me. The telecommunications markets are mature and highly competitive. This could put pressure on the companys profits. It faces tough competition from Sky, Vodafone, and Virgin Media, among others. Not to mention the huge capital investments required to update with the latest technology. Final view  Taking all things into consideration, I think the positives outweigh the risks for the company. I believe that the BT share price will continue to rise and I have no plans to sell my shares today.