FORD OTOMOTIV SANAYI |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,128 TRY | +0.71% |
|
-0.97% | +52.54% |
| Mar. 06 | Transcript : Ford Otomotiv Sanayi A.S., Q4 2023 Earnings Call, Mar 06, 2024 | |
| Mar. 05 | Ford Otomotiv Sanayi A.S. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 24,862 | 44,215 | 83,552 | 184,052 | 259,498 | 393,019 | - | - |
| Enterprise Value (EV) 1 | 27,867 | 44,171 | 88,435 | 211,856 | 320,192 | 499,606 | 491,651 | 543,899 |
| P/E ratio | 12.7 x | 10.5 x | 9.49 x | 9.89 x | 5.29 x | 5.47 x | 5.26 x | 2.99 x |
| Yield | 4.4% | 5.1% | 5.46% | 3.8% | 9.88% | 12.3% | 11.3% | 22.2% |
| Capitalization / Revenue | 0.63 x | 0.89 x | 1.18 x | 1.07 x | 0.63 x | 0.59 x | 0.49 x | 0.37 x |
| EV / Revenue | 0.71 x | 0.89 x | 1.24 x | 1.23 x | 0.78 x | 0.74 x | 0.61 x | 0.52 x |
| EV / EBITDA | 8.32 x | 8.36 x | 9.34 x | 10.7 x | 7.5 x | 7.97 x | 6.41 x | 5.15 x |
| EV / FCF | 15.8 x | 6.63 x | 14 x | 43.1 x | 13.4 x | 19.5 x | 13.7 x | 6.18 x |
| FCF Yield | 6.34% | 15.1% | 7.13% | 2.32% | 7.44% | 5.14% | 7.28% | 16.2% |
| Price to Book | 5.33 x | 6.28 x | 8.23 x | 8.6 x | 3.55 x | 7.65 x | 5.35 x | - |
| Nbr of stocks (in thousands) | 350,910 | 350,910 | 350,910 | 350,910 | 350,910 | 350,910 | - | - |
| Reference price 2 | 70.85 | 126.0 | 238.1 | 524.5 | 739.5 | 1,120 | 1,120 | 1,120 |
| Announcement Date | 2/11/20 | 2/10/21 | 2/15/22 | 2/8/23 | 3/5/24 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 39,209 | 49,451 | 71,101 | 171,797 | 411,906 | 671,430 | 804,318 | 1,050,843 |
| EBITDA 1 | 3,350 | 5,283 | 9,464 | 19,727 | 42,710 | 62,670 | 76,760 | 105,535 |
| EBIT 1 | 2,574 | 4,367 | 8,410 | 17,832 | 36,646 | 59,953 | 70,654 | 91,422 |
| Operating Margin | 6.56% | 8.83% | 11.83% | 10.38% | 8.9% | 8.93% | 8.78% | 8.7% |
| Earnings before Tax (EBT) 1 | 1,950 | 4,108 | 8,687 | 15,623 | 47,428 | 63,479 | 66,800 | 119,941 |
| Net income 1 | 1,959 | 4,195 | 8,801 | 18,614 | 49,056 | 62,761 | 61,304 | 117,420 |
| Net margin | 5% | 8.48% | 12.38% | 10.83% | 11.91% | 9.35% | 7.62% | 11.17% |
| EPS 2 | 5.580 | 11.95 | 25.08 | 53.04 | 139.8 | 204.6 | 212.8 | 374.4 |
| Free Cash Flow 1 | 1,768 | 6,667 | 6,308 | 4,910 | 23,829 | 25,671 | 35,783 | 87,980 |
| FCF margin | 4.51% | 13.48% | 8.87% | 2.86% | 5.79% | 3.82% | 4.45% | 8.37% |
| FCF Conversion (EBITDA) | 52.78% | 126.18% | 66.65% | 24.89% | 55.79% | 40.96% | 46.62% | 83.37% |
| FCF Conversion (Net income) | 90.23% | 158.93% | 71.67% | 26.38% | 48.58% | 40.9% | 58.37% | 74.93% |
| Dividend per Share 2 | 3.120 | 6.420 | 13.00 | 19.95 | 73.06 | 138.2 | 126.7 | 248.5 |
| Announcement Date | 2/11/20 | 2/10/21 | 2/15/22 | 2/8/23 | 3/5/24 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,871 | 25,444 | 27,876 | 32,854 | 45,657 | 60,939 | 66,302 | 73,553 | 86,106 | 185,945 |
| EBITDA 1 | 2,036 | 4,358 | 2,971 | 4,149 | 5,001 | 7,754 | 6,715 | 8,449 | 11,253 | 16,294 |
| EBIT | 1,774 | 4,076 | 2,677 | 3,859 | 4,334 | 7,110 | 6,080 | 7,788 | - | - |
| Operating Margin | 9.4% | 16.02% | 9.6% | 11.75% | 9.49% | 11.67% | 9.17% | 10.59% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | 4,695 | - | 5,160 | 7,302 | 11,059 | - |
| Net income 1 | 1,892 | 4,090 | 2,802 | 3,704 | 4,711 | 8,292 | 5,353 | 6,727 | 13,014 | 23,962 |
| Net margin | 10.03% | 16.08% | 10.05% | 11.27% | 10.32% | 13.61% | 8.07% | 9.15% | 15.11% | 12.89% |
| EPS | 5.390 | 11.66 | - | - | - | - | 15.25 | 19.17 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/27/21 | 2/15/22 | 4/27/22 | 7/28/22 | 11/2/22 | 2/8/23 | 4/27/23 | 7/27/23 | 10/25/23 | 3/5/24 |
1TRY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,005 | - | 4,883 | 27,804 | 60,694 | 106,587 | 98,632 | 150,880 |
| Net Cash position 1 | - | 43.2 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.8971 x | - | 0.516 x | 1.409 x | 1.421 x | 1.701 x | 1.285 x | 1.43 x |
| Free Cash Flow 1 | 1,768 | 6,667 | 6,308 | 4,910 | 23,829 | 25,671 | 35,783 | 87,980 |
| ROE (net income / shareholders' equity) | 45.8% | 59.6% | 102% | 118% | 79% | 64.2% | 90.6% | 56.1% |
| ROA (Net income/ Total Assets) | 13.2% | 20.6% | 26.2% | 26.8% | 25.1% | 23.4% | 20.4% | 19% |
| Assets 1 | 14,795 | 20,377 | 33,571 | 69,423 | 195,657 | 268,209 | 300,781 | 618,000 |
| Book Value Per Share 2 | 13.30 | 20.10 | 28.90 | 61.00 | 208.0 | 146.0 | 209.0 | - |
| Cash Flow per Share 2 | 8.570 | 21.10 | 24.80 | 54.50 | 144.0 | 216.0 | 287.0 | 375.0 |
| Capex 1 | 1,240 | 724 | 2,395 | 14,219 | 26,743 | 33,123 | 31,542 | 12,886 |
| Capex / Sales | 3.16% | 1.46% | 3.37% | 8.28% | 6.49% | 4.93% | 3.92% | 1.23% |
| Announcement Date | 2/11/20 | 2/10/21 | 2/15/22 | 2/8/23 | 3/5/24 | - | - | - |
1TRY in Million2TRY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
1,120
TRY
Average target price
1,227
TRY
Spread / Average Target
+9.58%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +52.54% | 12.18B | |
| +5.32% | 87.85B | |
| +2.30% | 79.89B | |
| +20.03% | 73.14B | |
| +22.05% | 47.25B | |
| +16.00% | 33.67B | |
| +7.54% | 23.09B | |
| -10.99% | 17.99B | |
| -9.92% | 10.16B | |
| +101.89% | 8.2B |
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