BALWIN PROPERTIES LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.95 ZAR | -2.01% |
|
+10.80% | -10.14% |
| May. 20 | Transcript : Balwin Properties Limited, 2024 Earnings Call, May 20, 2024 | |
| May. 20 | Balwin Properties Limited Resolves Not to Declare Dividend for the Financial Year 2024 | CI |
Valuation
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,137 | 1,637 | 1,990 | 1,591 | 1,464 | 935.4 |
| Enterprise Value (EV) 1 | 2,331 | 2,583 | 3,552 | 3,566 | 3,814 | 3,705 |
| P/E ratio | 2.53 x | 4.02 x | 5.97 x | 4.01 x | 3.36 x | 4.33 x |
| Yield | 6% | 3.34% | 8.42% | 6.76% | 7.62% | - |
| Capitalization / Revenue | 0.44 x | 0.56 x | 0.74 x | 0.51 x | 0.44 x | 0.4 x |
| EV / Revenue | 0.89 x | 0.89 x | 1.32 x | 1.14 x | 1.15 x | 1.57 x |
| EV / EBITDA | 3.63 x | 4.43 x | 7.45 x | 6.9 x | 6.23 x | 10.2 x |
| EV / FCF | 266 x | 12.9 x | -5.63 x | -9.02 x | -18.6 x | -9.41 x |
| FCF Yield | 0.38% | 7.74% | -17.8% | -11.1% | -5.38% | -10.6% |
| Price to Book | 0.43 x | 0.55 x | 0.62 x | 0.41 x | 0.38 x | 0.23 x |
| Nbr of stocks (in thousands) | 469,915 | 467,632 | 468,231 | 514,852 | 464,669 | 467,722 |
| Reference price 2 | 2.420 | 3.500 | 4.250 | 3.090 | 3.150 | 2.000 |
| Announcement Date | 6/28/19 | 5/18/20 | 5/17/21 | 5/16/22 | 5/22/23 | 5/19/24 |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Net sales 1 | 2,614 | 2,914 | 2,701 | 3,125 | 3,327 | 2,356 |
| EBITDA 1 | 642 | 583.1 | 476.9 | 517.2 | 612.3 | 364.8 |
| EBIT 1 | 629.3 | 571.6 | 460.6 | 500.9 | 592.8 | 339 |
| Operating Margin | 24.08% | 19.61% | 17.05% | 16.03% | 17.82% | 14.39% |
| Earnings before Tax (EBT) 1 | 628.5 | 575.3 | 467.1 | 518.8 | 597.5 | 310.3 |
| Net income 1 | 452.4 | 411.6 | 336.2 | 362.6 | 436.3 | 215.7 |
| Net margin | 17.31% | 14.12% | 12.45% | 11.6% | 13.11% | 9.15% |
| EPS 2 | 0.9580 | 0.8717 | 0.7119 | 0.7701 | 0.9368 | 0.4618 |
| Free Cash Flow 1 | 8.775 | 200 | -631 | -395.3 | -205.4 | -393.7 |
| FCF margin | 0.34% | 6.86% | -23.36% | -12.65% | -6.17% | -16.71% |
| FCF Conversion (EBITDA) | 1.37% | 34.3% | - | - | - | - |
| FCF Conversion (Net income) | 1.94% | 48.59% | - | - | - | - |
| Dividend per Share 2 | 0.1451 | 0.1170 | 0.3580 | 0.2090 | 0.2400 | - |
| Announcement Date | 6/28/19 | 5/18/20 | 5/17/21 | 5/16/22 | 5/22/23 | 5/19/24 |
1ZAR in Million2ZAR
Estimates
Balance Sheet Analysis
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 1,194 | 947 | 1,562 | 1,975 | 2,350 | 2,769 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.86 x | 1.624 x | 3.275 x | 3.82 x | 3.839 x | 7.592 x |
| Free Cash Flow 1 | 8.78 | 200 | -631 | -395 | -205 | -394 |
| ROE (net income / shareholders' equity) | 18.2% | 14.7% | 10.9% | 10.8% | 11.9% | 5.54% |
| ROA (Net income/ Total Assets) | 9.8% | 7.93% | 5.75% | 5.22% | 5.33% | 2.84% |
| Assets 1 | 4,619 | 5,189 | 5,844 | 6,947 | 8,181 | 7,598 |
| Book Value Per Share 2 | 5.680 | 6.310 | 6.820 | 7.480 | 8.240 | 8.560 |
| Cash Flow per Share 2 | 0.7000 | 1.020 | 0.7200 | 1.420 | 1.310 | 0.6200 |
| Capex 1 | 29.1 | 20.8 | 25.6 | 79.7 | 86.5 | 48.4 |
| Capex / Sales | 1.11% | 0.72% | 0.95% | 2.55% | 2.6% | 2.06% |
| Announcement Date | 6/28/19 | 5/18/20 | 5/17/21 | 5/16/22 | 5/22/23 | 5/19/24 |
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. | |
|---|---|---|
| -10.14% | 49.57M | |
| -5.96% | 24.13B | |
| -24.57% | 12.03B | |
| +9.02% | 10.95B | |
| -25.65% | 7.73B | |
| -10.88% | 6.59B | |
| -2.91% | 6.33B | |
| -2.82% | 6.24B | |
| +51.93% | 3.72B | |
| +2.51% | 3.88B |
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