Financials Fawry for Banking Technology and Electronic Payments S.A.E.

Equities

FWRY

EGS745L1C014

Business Support Services

End-of-day quote Egyptian Exchange 06:00:00 2024-04-23 pm EDT 5-day change 1st Jan Change
6.1 EGP -5.72% Intraday chart for Fawry for Banking Technology and Electronic Payments S.A.E. -14.08% +10.71%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,517 23,709 21,871 17,330 18,770 20,780 - -
Enterprise Value (EV) 1 4,833 23,709 21,871 17,330 18,770 20,780 20,780 20,780
P/E ratio - 114 x 107 x 65.5 x 30.6 x 19.7 x 15.6 x 10.5 x
Yield - - - - - - - -
Capitalization / Revenue 6.24 x 19.2 x 13.2 x 7.6 x 5.74 x 4.48 x 3.53 x 2.47 x
EV / Revenue 6.24 x 19.2 x 13.2 x 7.6 x 5.74 x 4.48 x 3.53 x 2.47 x
EV / EBITDA 25.1 x 70.8 x 52.4 x 28.1 x 17 x 9.9 x 7.83 x 5.79 x
EV / FCF 200 x 57 x 78.3 x - - 27.4 x 15.4 x 11.3 x
FCF Yield 0.5% 1.75% 1.28% - - 3.65% 6.51% 8.81%
Price to Book 9.3 x 23.2 x 15.8 x 7 x - 5.04 x 3.96 x -
Nbr of stocks (in thousands) 907,301 907,301 1,707,304 3,307,304 3,406,523 3,406,523 - -
Reference price 2 6.081 26.13 12.81 5.240 5.510 6.100 6.100 6.100
Announcement Date 3/26/20 3/30/21 4/21/22 3/8/23 3/5/24 - - -
1EGP in Million2EGP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 884.1 1,235 1,658 2,279 3,272 4,640 5,891 8,421
EBITDA 1 219.8 335.1 417.6 616.4 1,104 2,099 2,655 3,588
EBIT 1 154.4 233.5 266.3 407.4 822.2 1,711 2,111 2,922
Operating Margin 17.46% 18.91% 16.06% 17.87% 25.13% 36.86% 35.83% 34.7%
Earnings before Tax (EBT) 1 171 293.2 321.4 444.5 1,095 1,742 2,172 3,398
Net income 1 102.9 186.2 177.2 240.1 715.3 1,057 1,431 2,223
Net margin 11.64% 15.09% 10.69% 10.53% 21.86% 22.77% 24.29% 26.4%
EPS 2 - 0.2300 0.1200 0.0800 0.1800 0.3102 0.3913 0.5834
Free Cash Flow 1 27.55 415.8 279.3 - - 759 1,352 1,832
FCF margin 3.12% 33.68% 16.85% - - 16.36% 22.95% 21.75%
FCF Conversion (EBITDA) 12.53% 124.11% 66.89% - - 36.15% 50.91% 51.04%
FCF Conversion (Net income) 26.77% 223.29% 157.67% - - 71.83% 94.46% 82.38%
Dividend per Share 2 - - - - - - - -
Announcement Date 3/26/20 3/30/21 4/21/22 3/8/23 3/5/24 - - -
1EGP in Million2EGP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1
Net sales 1 483
EBITDA 1 116.2
EBIT 1 66.59
Operating Margin 13.79%
Earnings before Tax (EBT) -
Net income 1 28.16
Net margin 5.83%
EPS -
Dividend per Share -
Announcement Date 6/16/22
1EGP in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 684 - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 27.5 416 279 - - 759 1,352 1,832
ROE (net income / shareholders' equity) 19% 27.4% 15% 12.4% - 27.7% 28.5% 30.5%
ROA (Net income/ Total Assets) - 9.5% 4.9% 4.55% - 10% 10% -
Assets 1 - 1,961 3,614 5,274 - 10,567 14,313 -
Book Value Per Share 2 0.6500 1.130 0.8100 0.7500 - 1.210 1.540 -
Cash Flow per Share - - - - - - - -
Capex 1 180 130 361 255 - 555 767 822
Capex / Sales 20.35% 10.53% 21.78% 11.18% - 11.96% 13.01% 9.76%
Announcement Date 3/26/20 3/30/21 4/21/22 3/8/23 3/5/24 - - -
1EGP in Million2EGP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
6.1 EGP
Average target price
7.2 EGP
Spread / Average Target
+18.03%
Consensus

Annual profits - Rate of surprise

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