Financials British American Tobacco Kenya plc

Equities

BAT

KE0000000075

Tobacco

End-of-day quote Nairobi S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
409.8 KES -0.06% Intraday chart for British American Tobacco Kenya plc -0.67% +0.55%

Valuation

Fiscal Period: December 2018 2019 2020 2022 2023
Capitalization 1 72,500 50,000 36,100 46,000 40,975
Enterprise Value (EV) 1 73,532 48,377 34,283 46,000 40,975
P/E ratio 17.7 x 12.9 x 6.54 x 6.67 x -
Yield 4.83% 6.7% 12.5% - 13.9%
Capitalization / Revenue 3,493,976 x 2,079,953 x 1,424,681 x - -
EV / Revenue 3,493,976 x 2,079,953 x 1,424,681 x - -
EV / EBITDA 10,763,064 x 7,964,218 x 4,443,807 x - -
EV / FCF 16,321,444 x 8,067,024 x 10,449,707 x - -
FCF Yield 0% 0% 0% - -
Price to Book - - - - -
Nbr of stocks (in thousands) 100,000 100,000 100,000 100,000 100,000
Reference price 2 725.0 500.0 361.0 460.0 409.8
Announcement Date 2/14/19 2/24/20 2/18/21 5/30/23 -
1KES in Million2KES
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2022 2023
Net sales 20,750 24,039 25,339 - -
EBITDA 6,736 6,278 8,124 - -
EBIT 6,219 5,726 7,589 - -
Operating Margin 29.97% 23.82% 29.95% - -
Earnings before Tax (EBT) 5,881 5,533 7,416 - -
Net income 4,085 3,885 5,518 6,892 -
Net margin 19.69% 16.16% 21.78% - -
EPS 40.85 38.85 55.18 68.92 -
Free Cash Flow 4,442 6,198 3,455 - -
FCF margin 21.41% 25.78% 13.63% - -
FCF Conversion (EBITDA) 65.94% 98.73% 42.53% - -
FCF Conversion (Net income) 108.74% 159.54% 62.61% - -
Dividend per Share 1 35.00 33.50 45.00 - 57.00
Announcement Date 2/14/19 2/24/20 2/18/21 5/30/23 -
1KES
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 2,891 1,032 - - - -
Net Cash position 1 - - 1,623 1,817 2,989 2,332
Leverage (Debt/EBITDA) 0.4425 x 0.1525 x - - - -
Free Cash Flow 1 4,244 3,849 6,944 2,643 4,950 3,792
ROE (net income / shareholders' equity) 40.1% 47.6% 40.8% 51.2% 48.3% 44%
ROA (Net income/ Total Assets) 19.8% 21.6% 19% 23.2% 25.9% 26.6%
Assets 1 16,843 18,900 20,482 23,760 24,988 25,915
Book Value Per Share 2 78.40 93.10 97.20 119.0 150.0 164.0
Cash Flow per Share 2 0.2900 1.900 18.10 18.80 30.30 23.70
Capex 1 391 862 1,438 1,292 570 752
Capex / Sales 2.1% 4.15% 5.98% 5.1% 2.24% 2.74%
Announcement Date 4/16/18 4/11/19 6/2/20 4/19/21 5/1/22 5/30/23
1KES in Million2KES
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
409.8 KES
Average target price
481 KES
Spread / Average Target
+17.39%
Consensus

Annual profits - Rate of surprise

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