Financials Brimstone Investment Corporation Limited

Equities

BRT

ZAE000015277

Fishing & Farming

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
4.65 ZAR 0.00% Intraday chart for Brimstone Investment Corporation Limited -6.81% -9.00%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 2,540 2,147 1,743 1,618 1,601 1,383
Enterprise Value (EV) 1 4,866 5,542 6,114 5,281 5,016 5,865
P/E ratio 69.9 x -32.4 x -21.4 x -7.96 x 2.16 x 6.95 x
Yield 3.23% 4.29% - - 4.76% 6.27%
Capitalization / Revenue 0.91 x 0.64 x 0.39 x 0.34 x 0.32 x 0.22 x
EV / Revenue 1.75 x 1.64 x 1.38 x 1.12 x 0.99 x 0.94 x
EV / EBITDA 9.99 x 10.8 x 7.16 x 6.94 x 5.42 x 7.74 x
EV / FCF -29.9 x -13.1 x -16 x -15.9 x 11.8 x -28.7 x
FCF Yield -3.34% -7.64% -6.24% -6.31% 8.49% -3.48%
Price to Book 1.12 x 0.93 x 0.72 x 0.59 x 0.53 x 0.39 x
Nbr of stocks (in thousands) 232,530 234,731 238,592 252,803 247,789 248,091
Reference price 2 13.00 10.50 7.650 5.810 6.300 5.260
Announcement Date 4/10/18 4/25/19 6/30/20 6/9/21 4/28/22 4/24/23
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 2,783 3,377 4,440 4,715 5,055 6,213
EBITDA 1 487.2 514.4 854.1 760.7 925.2 757.9
EBIT 1 374.5 388.6 656.1 550 695.1 509.6
Operating Margin 13.45% 11.51% 14.78% 11.67% 13.75% 8.2%
Earnings before Tax (EBT) 1 262.4 39.15 181.5 109.1 969.1 446.4
Net income 1 45.96 -78.5 -85.77 -184.5 731.9 189.9
Net margin 1.65% -2.32% -1.93% -3.91% 14.48% 3.06%
EPS 2 0.1860 -0.3245 -0.3580 -0.7300 2.916 0.7570
Free Cash Flow 1 -162.7 -423.2 -381.7 -333 425.7 -204.2
FCF margin -5.84% -12.53% -8.6% -7.06% 8.42% -3.29%
FCF Conversion (EBITDA) - - - - 46.01% -
FCF Conversion (Net income) - - - - 58.16% -
Dividend per Share 2 0.4200 0.4500 - - 0.3000 0.3300
Announcement Date 4/10/18 4/25/19 6/30/20 6/9/21 4/28/22 4/24/23
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 2,326 3,396 4,371 3,663 3,415 4,482
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.774 x 6.601 x 5.118 x 4.816 x 3.691 x 5.913 x
Free Cash Flow 1 -163 -423 -382 -333 426 -204
ROE (net income / shareholders' equity) 4.77% 1.92% 2% -1.18% 18.7% 7.06%
ROA (Net income/ Total Assets) 2.76% 2.42% 3.7% 3.18% 4.17% 2.87%
Assets 1 1,665 -3,246 -2,318 -5,801 17,557 6,607
Book Value Per Share 2 11.60 11.20 10.70 9.850 11.80 13.40
Cash Flow per Share 2 3.250 4.250 1.350 1.690 3.480 1.510
Capex 1 431 361 361 380 339 337
Capex / Sales 15.48% 10.7% 8.14% 8.07% 6.7% 5.43%
Announcement Date 4/10/18 4/25/19 6/30/20 6/9/21 4/28/22 4/24/23
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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