Financials Turnstar Holdings Limited

Equities

TURNSTAR

BW0000000314

Real Estate Development & Operations

End-of-day quote Botswana S.E. 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
1.93 BWP 0.00% Intraday chart for Turnstar Holdings Limited 0.00% -1.03%

Valuation

Fiscal Period: January 2018 2019 2020 2021 2022 2023
Capitalization 1 1,888 1,659 1,608 1,430 1,127 1,013
Enterprise Value (EV) 1 2,449 2,241 2,209 1,994 1,679 1,582
P/E ratio 26.2 x 13.8 x 13.8 x 17.6 x 11.2 x 9.37 x
Yield 5.45% 6.38% 3.2% 7.6% 9.14% 10.2%
Capitalization / Revenue 7.46 x 6.38 x 5.93 x 5.8 x 4.21 x 3.46 x
EV / Revenue 9.68 x 8.62 x 8.15 x 8.09 x 6.28 x 5.41 x
EV / EBITDA 27.2 x 15.3 x 14 x 15.2 x 11.2 x 10.3 x
EV / FCF 86.9 x 31.3 x 33.2 x 35.7 x 17.1 x 20.8 x
FCF Yield 1.15% 3.19% 3.01% 2.8% 5.83% 4.82%
Price to Book 1.21 x 1.03 x 0.97 x 0.84 x 0.65 x 0.56 x
Nbr of stocks (in thousands) 572,154 572,154 572,154 572,154 572,154 572,154
Reference price 2 3.300 2.900 2.810 2.500 1.970 1.770
Announcement Date 7/4/18 7/4/19 7/30/20 7/7/21 7/7/22 7/5/23
1BWP in Million2BWP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: January 2018 2019 2020 2021 2022 2023
Net sales 1 253 260 271 246.4 267.5 292.4
EBITDA 1 89.92 146.9 158 131 150.2 153.8
EBIT 1 88.7 145.4 156.7 129.7 149.2 153.3
Operating Margin 35.06% 55.93% 57.81% 52.62% 55.79% 52.44%
Earnings before Tax (EBT) 1 30.73 123.9 94.13 81.85 114.4 112.2
Net income 1 72.12 122.4 116.2 81.31 100.9 108
Net margin 28.51% 47.05% 42.89% 33% 37.74% 36.94%
EPS 2 0.1260 0.2100 0.2032 0.1421 0.1764 0.1888
Free Cash Flow 1 28.2 71.59 66.58 55.85 97.9 76.18
FCF margin 11.15% 27.53% 24.57% 22.67% 36.6% 26.05%
FCF Conversion (EBITDA) 31.36% 48.74% 42.15% 42.64% 65.19% 49.52%
FCF Conversion (Net income) 39.1% 58.51% 57.28% 68.69% 96.99% 70.52%
Dividend per Share 2 0.1800 0.1850 0.0900 0.1900 0.1800 0.1800
Announcement Date 7/4/18 7/4/19 7/30/20 7/7/21 7/7/22 7/5/23
1BWP in Million2BWP
Estimates

Balance Sheet Analysis

Fiscal Period: January 2018 2019 2020 2021 2022 2023
Net Debt 1 561 582 601 563 552 569
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 6.239 x 3.961 x 3.803 x 4.3 x 3.673 x 3.701 x
Free Cash Flow 1 28.2 71.6 66.6 55.8 97.9 76.2
ROE (net income / shareholders' equity) 4.56% 7.65% 7.11% 4.85% 5.88% 6.09%
ROA (Net income/ Total Assets) 2.2% 3.7% 3.9% 3.23% 3.69% 3.68%
Assets 1 3,271 3,311 2,983 2,516 2,738 2,938
Book Value Per Share 2 2.730 2.820 2.890 2.960 3.030 3.170
Cash Flow per Share 2 0.0900 0.0600 0.0200 0.0400 0.0200 0.0200
Capex 1 2.51 0.08 1.35 0.32 0.38 0.93
Capex / Sales 0.99% 0.03% 0.5% 0.13% 0.14% 0.32%
Announcement Date 7/4/18 7/4/19 7/30/20 7/7/21 7/7/22 7/5/23
1BWP in Million2BWP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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