Financials Mustek Limited

Equities

MST

ZAE000012373

Computer Hardware

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
8.8 ZAR -2.11% Intraday chart for Mustek Limited -4.45% -32.31%

Valuation

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Capitalization 1 520.6 567 492.8 714.2 999.8 962.1
Enterprise Value (EV) 1 1,360 1,701 1,637 1,652 2,771 3,037
P/E ratio 6.68 x 5.48 x 5.68 x 2.52 x 4.67 x 4.43 x
Yield 3.21% 3.7% 3.69% 8.41% 4.64% 4.61%
Capitalization / Revenue 0.09 x 0.1 x 0.08 x 0.09 x 0.11 x 0.1 x
EV / Revenue 0.24 x 0.29 x 0.26 x 0.21 x 0.31 x 0.3 x
EV / EBITDA 5.01 x 6.23 x 5.96 x 3.46 x 5.53 x 5.07 x
EV / FCF 54 x -7.94 x 18.2 x 5.25 x -4.11 x -17.3 x
FCF Yield 1.85% -12.6% 5.5% 19% -24.3% -5.78%
Price to Book 0.51 x 0.54 x 0.44 x 0.52 x 0.68 x 0.61 x
Nbr of stocks (in thousands) 76,000 70,000 70,000 66,743 61,000 57,540
Reference price 2 6.850 8.100 7.040 10.70 16.39 16.72
Announcement Date 10/30/18 10/29/19 9/9/20 9/9/21 9/12/22 9/19/23
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net sales 1 5,671 5,846 6,397 8,036 8,910 10,126
EBITDA 1 271.6 273.2 274.9 477.1 501.1 598.7
EBIT 1 251 254.9 257.7 462 480.2 577.9
Operating Margin 4.43% 4.36% 4.03% 5.75% 5.39% 5.71%
Earnings before Tax (EBT) 1 101.4 133 115.5 407.3 322.1 292.7
Net income 1 79.81 104.6 86.84 293.8 220 219.6
Net margin 1.41% 1.79% 1.36% 3.66% 2.47% 2.17%
EPS 2 1.026 1.479 1.240 4.245 3.510 3.770
Free Cash Flow 1 25.17 -214.2 89.95 314.6 -674.5 -175.5
FCF margin 0.44% -3.66% 1.41% 3.91% -7.57% -1.73%
FCF Conversion (EBITDA) 9.27% - 32.72% 65.94% - -
FCF Conversion (Net income) 31.54% - 103.59% 107.08% - -
Dividend per Share 2 0.2200 0.3000 0.2600 0.9000 0.7600 0.7700
Announcement Date 10/30/18 10/29/19 9/9/20 9/9/21 9/12/22 9/19/23
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net Debt 1 840 1,134 1,144 938 1,771 2,075
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.092 x 4.15 x 4.162 x 1.965 x 3.534 x 3.467 x
Free Cash Flow 1 25.2 -214 90 315 -675 -176
ROE (net income / shareholders' equity) 8.24% 10.4% 8.08% 23.9% 16.3% 14.7%
ROA (Net income/ Total Assets) 5.31% 5.29% 4.79% 7.96% 6.95% 6.73%
Assets 1 1,503 1,979 1,813 3,690 3,165 3,263
Book Value Per Share 2 13.50 14.90 16.00 20.50 24.00 27.20
Cash Flow per Share 2 4.050 3.170 3.770 4.060 6.360 6.070
Capex 1 44.1 33 18.7 32.4 24.6 67.7
Capex / Sales 0.78% 0.56% 0.29% 0.4% 0.28% 0.67%
Announcement Date 10/30/18 10/29/19 9/9/20 9/9/21 9/12/22 9/19/23
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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