Financials Meezan Bank Limited

Equities

MEBL

PK0077401013

Banks

End-of-day quote Pakistan S.E. 06:00:00 2024-05-23 pm EDT 5-day change 1st Jan Change
241.1 PKR +2.34% Intraday chart for Meezan Bank Limited +7.87% +49.40%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 111,225 134,321 218,188 178,139 289,037 431,817 - -
Enterprise Value (EV) 1 111,225 134,321 218,188 178,139 289,037 431,817 431,817 431,817
P/E ratio - - - - - - - -
Yield 5.26% 5.74% 4.18% 8.22% - 11% 11.4% 13.2%
Capitalization / Revenue 2.39 x 2.07 x 3.17 x 1.46 x 1.28 x 1.72 x 1.94 x 1.6 x
EV / Revenue 2.39 x 2.07 x 3.17 x 1.46 x 1.28 x 1.72 x 1.94 x 1.6 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.07 x 2.05 x 2.44 x 1.54 x - 1.87 x 1.62 x 1.44 x
Nbr of stocks (in thousands) 1,626,930 1,626,930 1,789,622 1,789,624 1,791,253 1,791,253 - -
Reference price 2 68.37 82.56 121.9 99.54 161.4 241.1 241.1 241.1
Announcement Date 2/12/20 2/18/21 2/21/22 2/16/23 3/7/24 - - -
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 46,533 64,829 68,906 121,819 226,493 251,245 222,908 269,641
EBITDA - - - - - - - -
EBIT 1 30,863 46,000 48,970 - 179,407 153,987 147,745 -
Operating Margin 66.33% 70.96% 71.07% - 79.21% 61.29% 66.28% -
Earnings before Tax (EBT) - - - - - - - -
Net income - - - - - - - -
Net margin - - - - - - - -
EPS - - - - - - - -
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 3.593 4.743 5.091 8.181 - 26.40 27.40 31.90
Announcement Date 2/12/20 2/18/21 2/21/22 2/16/23 3/7/24 - - -
1PKR in Million2PKR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1
Net sales 37,910 38,737 20,402 21,459 23,985 - - - 45,263 - -
EBITDA - - - - - - - - - - -
EBIT - - - - - - - - - - -
Operating Margin - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - -
Net income - - - - - - - - - - -
Net margin - - - - - - - - - - -
EPS - - - - - - - - - - -
Dividend per Share 1 - 2.372 1.364 1.591 1.591 3.182 2.000 3.000 3.000 1.000 4.000
Announcement Date 8/18/20 8/12/21 2/21/22 4/27/22 8/11/22 8/11/22 10/19/22 2/16/23 4/19/23 8/10/23 8/10/23
1PKR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 30.7% 33.5% 35% 44.6% - 48.3% 34.1% 30.5%
ROA (Net income/ Total Assets) 1.48% 1.69% 1.64% 2.01% - 2.7% 2.5% -
Assets - - - - - - - -
Book Value Per Share 1 33.00 40.20 49.90 64.40 - 129.0 149.0 168.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/12/20 2/18/21 2/21/22 2/16/23 3/7/24 - - -
1PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
241.1 PKR
Average target price
210.3 PKR
Spread / Average Target
-12.75%
Consensus

Quarterly revenue - Rate of surprise

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