METAIR INVESTMENTS LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 11.3 ZAR | +2.63% |
|
-4.88% | -36.34% |
| Mar. 27 | Transcript : Metair Investments Limited, 2023 Earnings Call, Mar 27, 2024 | |
| Mar. 27 | Metair Investments Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 3,861 | 4,442 | 3,605 | 5,300 | 5,323 | 3,439 |
| Enterprise Value (EV) 1 | 5,123 | 5,760 | 4,411 | 6,665 | 7,953 | 6,360 |
| P/E ratio | 5.8 x | 7.13 x | 20.7 x | 7.94 x | -132 x | 36.7 x |
| Yield | 5.13% | - | 4% | 3.27% | - | - |
| Capitalization / Revenue | 0.38 x | 0.4 x | 0.35 x | 0.42 x | 0.38 x | 0.22 x |
| EV / Revenue | 0.5 x | 0.51 x | 0.43 x | 0.53 x | 0.57 x | 0.4 x |
| EV / EBITDA | 4.32 x | 4.64 x | 5.25 x | 4.92 x | 10.4 x | 6.31 x |
| EV / FCF | 30.4 x | 13.7 x | 6.46 x | 52.1 x | -8.1 x | -13.8 x |
| FCF Yield | 3.29% | 7.3% | 15.5% | 1.92% | -12.3% | -7.23% |
| Price to Book | 0.9 x | 1.06 x | 0.88 x | 1.41 x | 1.05 x | 0.64 x |
| Nbr of stocks (in thousands) | 198,003 | 192,283 | 192,284 | 192,717 | 193,581 | 193,770 |
| Reference price 2 | 19.50 | 23.10 | 18.75 | 27.50 | 27.50 | 17.75 |
| Announcement Date | 3/14/19 | 3/18/20 | 3/18/21 | 3/17/22 | 3/30/23 | 3/27/24 |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 10,277 | 11,238 | 10,235 | 12,621 | 13,905 | 15,856 |
| EBITDA 1 | 1,186 | 1,241 | 839.6 | 1,354 | 765.9 | 1,007 |
| EBIT 1 | 951.2 | 988.8 | 567.4 | 1,098 | 438.6 | 626.7 |
| Operating Margin | 9.26% | 8.8% | 5.54% | 8.7% | 3.15% | 3.95% |
| Earnings before Tax (EBT) 1 | 899.3 | 871.4 | 296.8 | 962.1 | 234.6 | 291.7 |
| Net income 1 | 667.4 | 624.2 | 174.2 | 674.8 | -40.38 | 95.54 |
| Net margin | 6.49% | 5.55% | 1.7% | 5.35% | -0.29% | 0.6% |
| EPS 2 | 3.362 | 3.242 | 0.9050 | 3.462 | -0.2087 | 0.4830 |
| Free Cash Flow 1 | 168.4 | 420.4 | 682.5 | 127.9 | -981.6 | -459.8 |
| FCF margin | 1.64% | 3.74% | 6.67% | 1.01% | -7.06% | -2.9% |
| FCF Conversion (EBITDA) | 14.2% | 33.88% | 81.29% | 9.45% | - | - |
| FCF Conversion (Net income) | 25.23% | 67.35% | 391.81% | 18.96% | - | - |
| Dividend per Share 2 | 1.000 | - | 0.7500 | 0.9000 | - | - |
| Announcement Date | 3/14/19 | 3/18/20 | 3/18/21 | 3/17/22 | 3/30/23 | 3/27/24 |
1ZAR in Million2ZAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 1,262 | 1,318 | 805 | 1,365 | 2,629 | 2,921 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.064 x | 1.062 x | 0.9591 x | 1.008 x | 3.433 x | 2.9 x |
| Free Cash Flow 1 | 168 | 420 | 682 | 128 | -982 | -460 |
| ROE (net income / shareholders' equity) | 16.5% | 15.3% | 4.35% | 17.1% | -0.09% | 2.4% |
| ROA (Net income/ Total Assets) | 7.19% | 7.11% | 3.88% | 7.47% | 2.5% | 3.02% |
| Assets 1 | 9,277 | 8,781 | 4,486 | 9,033 | -1,614 | 3,164 |
| Book Value Per Share 2 | 21.70 | 21.90 | 21.30 | 19.50 | 26.20 | 27.90 |
| Cash Flow per Share 2 | 3.490 | 5.950 | 8.440 | 5.580 | 6.700 | 5.000 |
| Capex 1 | 269 | 456 | 225 | 440 | 425 | 576 |
| Capex / Sales | 2.62% | 4.06% | 2.2% | 3.48% | 3.05% | 3.63% |
| Announcement Date | 3/14/19 | 3/18/20 | 3/18/21 | 3/17/22 | 3/30/23 | 3/27/24 |
1ZAR in Million2ZAR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -36.34% | 116M | |
| +29.62% | 50.98B | |
| +25.77% | 20.39B | |
| -20.63% | 19.42B | |
| +31.67% | 17.27B | |
| +1.48% | 15.84B | |
| -14.23% | 14.09B | |
| -18.75% | 13.35B | |
| +31.97% | 11.74B | |
| +28.58% | 10.66B |
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