NETCARE LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 11.52 ZAR | +1.95% |
|
+2.04% | -19.10% |
| Mar. 25 | NETCARE LTD: ERICH BOCK, HAS BEEN APPOINTED AS ACTING MANAGING D… | RE |
| Mar. 25 | Netcare Limited Announces Management Changes | CI |
Valuation
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 23,597 | 17,357 | 21,636 | 18,344 | 17,968 | 15,040 | - | - |
| Enterprise Value (EV) 1 | 28,711 | 27,825 | 31,059 | 27,703 | 27,988 | 23,848 | 23,548 | 23,112 |
| P/E ratio | 10 x | 46 x | 29.8 x | 19.1 x | 14.4 x | 9.49 x | 7.74 x | 6.61 x |
| Yield | 6.32% | - | 2.1% | 3.64% | 4.81% | 6.62% | 8.21% | 9.25% |
| Capitalization / Revenue | 1.09 x | 0.92 x | 1.02 x | 0.85 x | 0.76 x | 0.59 x | 0.55 x | 0.52 x |
| EV / Revenue | 1.33 x | 1.48 x | 1.47 x | 1.28 x | 1.18 x | 0.93 x | 0.86 x | 0.8 x |
| EV / EBITDA | 6.54 x | 10.9 x | 9.57 x | 7.95 x | 7.01 x | 5.2 x | 4.66 x | 4.24 x |
| EV / FCF | -184 x | -14.2 x | 26.5 x | 56.8 x | 75 x | 28.5 x | 15.2 x | 12.9 x |
| FCF Yield | -0.54% | -7.02% | 3.78% | 1.76% | 1.33% | 3.51% | 6.56% | 7.75% |
| Price to Book | 2.47 x | 1.89 x | 2.18 x | 1.79 x | 1.6 x | 1.24 x | 1.2 x | 1.16 x |
| Nbr of stocks (in thousands) | 1,344,574 | 1,343,441 | 1,335,547 | 1,337,000 | 1,331,000 | 1,305,562 | - | - |
| Reference price 2 | 17.55 | 12.92 | 16.20 | 13.72 | 13.50 | 11.52 | 11.52 | 11.52 |
| Announcement Date | 11/18/19 | 11/23/20 | 11/22/21 | 11/21/22 | 11/21/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 21,589 | 18,843 | 21,200 | 21,636 | 23,699 | 25,602 | 27,311 | 28,804 |
| EBITDA 1 | 4,388 | 2,558 | 3,244 | 3,485 | 3,990 | 4,583 | 5,051 | 5,453 |
| EBIT 1 | 3,640 | 1,393 | 2,076 | 2,282 | 2,716 | 3,251 | 3,669 | 4,033 |
| Operating Margin | 16.86% | 7.39% | 9.79% | 10.55% | 11.46% | 12.7% | 13.44% | 14% |
| Earnings before Tax (EBT) 1 | 3,357 | 730 | 1,176 | 1,534 | 1,807 | 2,357 | 2,858 | 3,303 |
| Net income 1 | 2,447 | 446 | 769 | 1,013 | 1,321 | 1,643 | 1,998 | 2,310 |
| Net margin | 11.33% | 2.37% | 3.63% | 4.68% | 5.57% | 6.42% | 7.32% | 8.02% |
| EPS 2 | 1.750 | 0.2810 | 0.5430 | 0.7170 | 0.9350 | 1.214 | 1.489 | 1.742 |
| Free Cash Flow 1 | -156 | -1,953 | 1,173 | 488 | 373 | 837.9 | 1,544 | 1,791 |
| FCF margin | -0.72% | -10.36% | 5.53% | 2.26% | 1.57% | 3.27% | 5.65% | 6.22% |
| FCF Conversion (EBITDA) | - | - | 36.16% | 14% | 9.35% | 18.28% | 30.57% | 32.85% |
| FCF Conversion (Net income) | - | - | 152.54% | 48.17% | 28.24% | 51% | 77.3% | 77.54% |
| Dividend per Share 2 | 1.110 | - | 0.3400 | 0.5000 | 0.6500 | 0.7630 | 0.9464 | 1.066 |
| Announcement Date | 11/18/19 | 11/23/20 | 11/22/21 | 11/21/22 | 11/21/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: September | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,069 | 10,713 | 8,130 | 10,081 | 11,119 | 10,311 | 11,325 | 11,537 | 12,162 | 12,431 | 13,081 |
| EBITDA | - | 2,360 | - | - | 1,751 | - | 1,860 | 2,015 | - | - | - |
| EBIT | - | 1,787 | - | - | 1,161 | - | - | - | - | - | - |
| Operating Margin | - | 16.68% | - | - | 10.44% | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | 583 | - | - | - | - | - | - | - | - | - |
| Net margin | - | 5.44% | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | 0.3980 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | 0.3000 | - | - | - | - |
| Announcement Date | 11/18/19 | 5/25/20 | 11/23/20 | 5/24/21 | 11/22/21 | 5/23/22 | 11/21/22 | 5/22/23 | 11/21/23 | - | - |
1ZAR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,114 | 10,468 | 9,423 | 9,359 | 10,020 | 8,808 | 8,508 | 8,072 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.165 x | 4.092 x | 2.905 x | 2.686 x | 2.511 x | 1.922 x | 1.684 x | 1.48 x |
| Free Cash Flow 1 | -156 | -1,953 | 1,173 | 488 | 373 | 838 | 1,544 | 1,791 |
| ROE (net income / shareholders' equity) | 24.4% | 3.35% | 8.07% | 11% | 12.1% | 14.7% | 16.5% | 17.9% |
| ROA (Net income/ Total Assets) | 11.1% | 1.32% | - | 3.9% | 4.89% | 5.91% | 7.41% | 8.65% |
| Assets 1 | 21,960 | 33,737 | - | 25,946 | 27,036 | 27,812 | 26,971 | 26,703 |
| Book Value Per Share 2 | 7.090 | 6.830 | 7.430 | 7.660 | 8.440 | 9.300 | 9.570 | 9.910 |
| Cash Flow per Share 2 | 0.9000 | -0.7400 | 1.720 | 1.400 | 1.400 | 1.690 | 1.980 | 2.430 |
| Capex 1 | 1,378 | 961 | 1,132 | 1,396 | 1,507 | 1,258 | 1,389 | 1,523 |
| Capex / Sales | 6.38% | 5.1% | 5.34% | 6.45% | 6.36% | 4.91% | 5.09% | 5.29% |
| Announcement Date | 11/18/19 | 11/23/20 | 11/22/21 | 11/21/22 | 11/21/23 | - | - | - |
1ZAR in Million2ZAR
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
8
Last Close Price
11.52
ZAR
Average target price
16.39
ZAR
Spread / Average Target
+42.29%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -19.10% | 799M | |
| -14.92% | 84.68B | |
| +13.30% | 81.12B | |
| +10.92% | 29.4B | |
| -12.71% | 16.73B | |
| -3.06% | 16.36B | |
| -2.63% | 14.92B | |
| -3.97% | 11.66B | |
| -1.42% | 11.72B | |
| -31.75% | 11.77B |
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