Financials Filinvest Land, Inc.

Equities

End-of-day quote Philippines S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
0.73 ^PHP	-.--%		+5.80%	+23.73%

Apr. 22	Filinvest Land, Inc. Approves Dividend on Common Shares for the Year Ended December 31, 2023, Payable on June 5, 2024	CI
Apr. 03	Filinvest Land Unit Leases Building to Philippines' Department of Trade and Industry	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	36,375	27,160	26,675	21,825	14,307	17,702	-	-
Enterprise Value (EV) ¹	100,985	90,347	85,488	89,188	14,307	96,757	100,940	92,175
P/E ratio	5.77 x	7.47 x	6.88 x	7.5 x	3.69 x	4.56 x	4.33 x	4.74 x
Yield	4.13%	5.79%	-	-	-	6.3%	6.2%	6.33%
Capitalization / Revenue	1.51 x	1.67 x	1.58 x	1.14 x	0.66 x	0.78 x	0.73 x	0.71 x
EV / Revenue	4.2 x	5.57 x	5.07 x	4.65 x	0.66 x	4.24 x	4.17 x	3.69 x
EV / EBITDA	8.64 x	11.4 x	13.1 x	12 x	1.77 x	10.8 x	11.3 x	10.1 x
EV / FCF	764 x	54.7 x	-47.9 x	-60.1 x	-	34.9 x	19.9 x	18.3 x
FCF Yield	0.13%	1.83%	-2.09%	-1.66%	-	2.86%	5.04%	5.47%
Price to Book	0.51 x	0.37 x	0.3 x	0.24 x	-	0.19 x	0.18 x	0.18 x
Nbr of stocks (in thousands)	24,249,760	24,249,760	24,249,760	24,249,760	24,249,760	24,249,760	-	-
Reference price ²	1.500	1.120	1.100	0.9000	0.5900	0.7300	0.7300	0.7300
Announcement Date	5/18/20	3/30/21	3/31/22	3/28/23	3/7/24	-	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	24,022	16,223	16,866	19,186	21,687	22,834	24,228	24,985
EBITDA ¹	11,687	7,901	6,548	7,415	8,102	8,947	8,939	9,102
EBIT ¹	10,366	6,306	5,101	5,785	6,509	7,104	7,564	7,084
Operating Margin	43.15%	38.87%	30.24%	30.15%	30.01%	31.11%	31.22%	28.35%
Earnings before Tax (EBT) ¹	8,275	4,378	3,547	4,248	4,941	5,299	5,296	-
Net income ¹	6,284	3,733	3,803	2,890	3,765	3,879	4,087	3,737
Net margin	26.16%	23.01%	22.55%	15.06%	17.36%	16.99%	16.87%	14.96%
EPS ²	0.2600	0.1500	0.1600	0.1200	0.1600	0.1600	0.1685	0.1541
Free Cash Flow ¹	132.1	1,651	-1,785	-1,484	-	2,772	5,084	5,046
FCF margin	0.55%	10.18%	-10.58%	-7.73%	-	12.14%	20.98%	20.2%
FCF Conversion (EBITDA)	1.13%	20.9%	-	-	-	30.98%	56.87%	55.44%
FCF Conversion (Net income)	2.1%	44.23%	-	-	-	71.46%	124.37%	135.04%
Dividend per Share ²	0.0619	0.0648	-	-	-	0.0460	0.0453	0.0462
Announcement Date	5/18/20	3/30/21	3/31/22	3/28/23	3/7/24	-	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	64,610	63,187	58,813	67,363	-	79,055	83,238	74,473
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	5.528 x	7.998 x	8.982 x	9.085 x	-	8.836 x	9.312 x	8.182 x
Free Cash Flow ¹	132	1,651	-1,785	-1,484	-	2,772	5,084	5,046
ROE (net income / shareholders' equity)	5.22%	5.11%	4.7%	3.26%	-	4.17%	4.3%	3.79%
ROA (Net income/ Total Assets)	3.22%	2.11%	2.03%	1.47%	-	2.2%	2.19%	1.71%
Assets ¹	195,144	177,361	187,119	196,669	-	176,685	186,504	218,768
Book Value Per Share ²	2.970	3.050	3.620	3.690	-	3.880	4.040	4.120
Cash Flow per Share ²	0.3700	0.3000	0.1500	0.2500	-	0.1500	0.2200	-
Capex ¹	8,793	5,641	5,345	7,618	-	5,253	5,073	4,781
Capex / Sales	36.6%	34.77%	31.69%	39.71%	-	23%	20.94%	19.14%
Announcement Date	5/18/20	3/30/21	3/31/22	3/28/23	3/7/24	-	-	-

¹PHP in Million²PHP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

0.73 PHP

Average target price

0.7795 PHP

Spread / Average Target

+6.78%

	1st Jan change	Capi.
FILINVEST LAND, INC.	+23.73%	307M
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