Financials LT Group, Inc.

Equities

End-of-day quote Philippines S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
9.9 ^PHP	+1.96%		+3.45%	+10.24%

Mar. 19	LT Group's Net Income Rises Marginally in 2023	MT
Mar. 18	LT Group, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	129,582	141,696	107,083	99,512	97,132	107,083	-
Enterprise Value (EV) ¹	22,388	-67,188	-82,411	-157,416	97,132	-87,621	-107,007
P/E ratio	5.6 x	6.75 x	5.29 x	3.97 x	3.82 x	4.6 x	2.51 x
Yield	3.59%	6.18%	10.9%	-	-	10.5%	10.1%
Capitalization / Revenue	1.37 x	1.5 x	1.17 x	0.99 x	0.84 x	0.91 x	0.87 x
EV / Revenue	0.24 x	-0.71 x	-0.9 x	-1.56 x	0.84 x	-0.75 x	-0.87 x
EV / EBITDA	1.32 x	-9.21 x	-7.03 x	-9.78 x	3.62 x	-4.79 x	-5.54 x
EV / FCF	0.49 x	-0.73 x	-7.06 x	-14.8 x	-	-2.47 x	-0.65 x
FCF Yield	206%	-138%	-14.2%	-6.74%	-	-40.5%	-155%
Price to Book	0.69 x	0.76 x	0.56 x	0.5 x	-	0.42 x	0.37 x
Nbr of stocks (in thousands)	10,816,489	10,816,489	10,816,489	10,816,489	10,816,489	10,816,489	-
Reference price ²	11.98	13.10	9.900	9.200	8.980	9.900	9.900
Announcement Date	3/20/20	3/25/21	3/21/22	3/17/23	3/18/24	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	94,244	94,428	91,173	100,872	115,299	117,569	122,809
EBITDA ¹	16,945	7,299	11,730	16,088	26,854	18,295	19,299
EBIT ¹	11,709	1,621	5,989	9,689	20,358	17,737	10,757
Operating Margin	12.42%	1.72%	6.57%	9.61%	17.66%	15.09%	8.76%
Earnings before Tax (EBT) ¹	31,263	21,587	27,262	36,604	39,234	45,933	47,661
Net income ¹	23,118	21,022	20,246	25,137	25,421	23,273	42,612
Net margin	24.53%	22.26%	22.21%	24.92%	22.05%	19.79%	34.7%
EPS ²	2.140	1.940	1.870	2.320	2.350	2.151	3.938
Free Cash Flow ¹	46,039	92,601	11,673	10,608	-	35,503	165,531
FCF margin	48.85%	98.07%	12.8%	10.52%	-	30.2%	134.79%
FCF Conversion (EBITDA)	271.7%	1,268.77%	99.51%	65.94%	-	194.06%	857.74%
FCF Conversion (Net income)	199.15%	440.5%	57.66%	42.2%	-	152.55%	388.46%
Dividend per Share ²	0.4300	0.8100	1.080	-	-	1.039	1.000
Announcement Date	3/20/20	3/25/21	3/21/22	3/17/23	3/18/24	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-
Net Cash position ¹	107,194	208,884	189,494	256,928	-	194,704	214,091
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	46,039	92,601	11,673	10,608	-	35,503	165,531
ROE (net income / shareholders' equity)	12.8%	11.3%	8%	12.9%	-	17%	15.7%
ROA (Net income/ Total Assets)	1.96%	1.61%	2%	1.95%	-	0.65%	0.66%
Assets ¹	1,181,817	1,309,455	1,012,323	1,289,957	-	3,576,301	6,491,711
Book Value Per Share ²	17.30	17.10	17.60	18.40	-	23.60	26.40
Cash Flow per Share ²	4.930	9.010	1.740	1.120	-	3.210	4.640
Capex ¹	10,542	4,880	7,136	1,549	-	15,899	-
Capex / Sales	11.19%	5.17%	7.83%	1.54%	-	13.52%	-
Announcement Date	3/20/20	3/25/21	3/21/22	3/17/23	3/18/24	-	-

¹PHP in Million²PHP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

9.9 PHP

Average target price

9.787 PHP

Spread / Average Target

-1.14%

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