Financials Evolution Mining Limited

Equities

EVN

AU000000EVN4

Gold

Market Closed - Australian S.E. Other stock markets 02:10:15 2024-05-22 am EDT			5-day change	1st Jan Change
3.98 ^AUD	-1.00%		+3.92%	+0.51%

03:20am	Banks, mining stocks lift Australian shares higher	RE
May. 15	Australia shares rebound on budget boost; US inflation data awaited	RE

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,399	9,664	7,689	4,363	5,909	7,983	-	-
Enterprise Value (EV) ¹	7,357	9,897	8,165	5,650	7,697	9,535	9,099	8,910
P/E ratio	34.1 x	32.2 x	22.3 x	13.4 x	36.2 x	17.4 x	10.5 x	11.1 x
Yield	2.18%	2.82%	2.67%	2.52%	0.62%	1.86%	3.24%	3.54%
Capitalization / Revenue	4.9 x	4.98 x	4.12 x	2.11 x	2.65 x	2.54 x	2.24 x	2.31 x
EV / Revenue	4.87 x	5.1 x	4.38 x	2.74 x	3.46 x	3.03 x	2.56 x	2.58 x
EV / EBITDA	10.1 x	9.61 x	8.93 x	6.29 x	9.11 x	6.66 x	5.09 x	5.31 x
EV / FCF	21.6 x	18.5 x	25.5 x	-5.37 x	-25.9 x	796 x	14.6 x	12.5 x
FCF Yield	4.64%	5.42%	3.92%	-18.6%	-3.85%	0.13%	6.85%	8%
Price to Book	3.01 x	3.86 x	2.98 x	1.26 x	1.53 x	1.93 x	1.74 x	1.63 x
Nbr of stocks (in thousands)	1,697,070	1,704,414	1,708,667	1,833,008	1,835,016	1,985,878	-	-
Reference price ²	4.360	5.670	4.500	2.380	3.220	4.020	4.020	4.020
Announcement Date	8/14/19	8/12/20	8/18/21	8/17/22	8/16/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,510	1,942	1,864	2,065	2,227	3,144	3,559	3,450
EBITDA ¹	730.3	1,029	914.2	898.8	844.5	1,431	1,788	1,677
EBIT ¹	330.3	612.5	546.4	431	324	787.7	1,157	1,021
Operating Margin	21.88%	31.54%	29.31%	20.87%	14.55%	25.06%	32.5%	29.6%
Earnings before Tax (EBT) ¹	314.8	408.6	496.2	417.7	233.8	675	1,034	991
Net income ¹	218.2	301.6	345.3	323.3	163.5	450.5	758.1	721.8
Net margin	14.45%	15.53%	18.52%	15.66%	7.34%	14.33%	21.3%	20.92%
EPS ²	0.1278	0.1762	0.2014	0.1770	0.0889	0.2311	0.3833	0.3613
Free Cash Flow ¹	341.2	536.1	319.7	-1,051	-296.7	11.98	623.1	713
FCF margin	22.6%	27.61%	17.15%	-50.91%	-13.32%	0.38%	17.51%	20.67%
FCF Conversion (EBITDA)	46.72%	52.08%	34.97%	-	-	0.84%	34.85%	42.53%
FCF Conversion (Net income)	156.36%	177.79%	92.58%	-	-	2.66%	82.2%	98.79%
Dividend per Share ²	0.0950	0.1600	0.1200	0.0600	0.0200	0.0748	0.1303	0.1422
Announcement Date	8/14/19	8/12/20	8/18/21	8/17/22	8/16/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	898.2	1,044	982.2	881.8	898.6	1,166	-	1,094	1,340	1,767	1,883	1,868	1,948	-
EBITDA ¹	441.2	588.3	514.6	399.6	393.3	505.5	-	398.3	572.6	847	940	931.5	-	-
EBIT ¹	-	-	342.2	204.3	184.5	246.5	-	149.7	287.1	505.1	571	604.3	696.4	-
Operating Margin	-	-	34.84%	23.16%	20.53%	21.13%	-	13.68%	21.43%	28.58%	30.32%	32.35%	35.74%	-
Earnings before Tax (EBT) ¹	-	-	327.4	168.8	137.1	280.7	-	98.36	139.3	495	433	482	-	-
Net income ¹	147.2	-	228.7	116.6	90.76	232.5	100.9	62.59	96.87	346.5	303	337	-	-
Net margin	16.39%	-	23.28%	13.22%	10.1%	19.94%	-	5.72%	7.23%	19.6%	16.09%	18.04%	-	-
EPS ²	0.0862	0.0900	0.1334	0.0680	0.0499	0.1271	0.0548	0.0341	0.0521	0.1785	0.1520	0.1700	-	-
Dividend per Share ²	0.0700	-	0.0700	0.0500	0.0300	0.0300	-	0.0200	-	0.0300	0.0200	0.0300	0.0300	0.0300
Announcement Date	2/11/20	8/12/20	2/16/21	8/18/21	2/15/22	8/17/22	2/15/23	8/16/23	2/13/24	-	-	-	-	-

¹AUD in Million²AUD

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	233	476	1,287	1,788	1,552	1,116	927
Net Cash position ¹	41.7	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.226 x	0.521 x	1.432 x	2.117 x	1.084 x	0.6241 x	0.5531 x
Free Cash Flow ¹	341	536	320	-1,051	-297	12	623	713
ROE (net income / shareholders' equity)	9.29%	12.4%	13.8%	11.2%	5%	12.8%	16.1%	13.4%
ROA (Net income/ Total Assets)	7.1%	8.91%	9.16%	6.11%	2.4%	7.05%	9.06%	9.01%
Assets ¹	3,075	3,384	3,770	5,293	6,825	6,385	8,371	8,011
Book Value Per Share ²	1.450	1.470	1.510	1.890	2.110	2.090	2.310	2.460
Cash Flow per Share ²	0.3600	0.5900	0.4400	0.4300	0.4000	0.5500	0.6900	0.6600
Capex ¹	275	469	433	669	839	770	653	617
Capex / Sales	18.22%	24.16%	23.22%	32.4%	37.66%	24.5%	18.35%	17.89%
Announcement Date	8/14/19	8/12/20	8/18/21	8/17/22	8/16/23	-	-	-

¹AUD in Million²AUD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Evolution Mining Limited

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

4.02 AUD

Average target price

3.889 AUD

Spread / Average Target

-3.26%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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