Financials Discovery Limited

Equities

DSY

ZAE000022331

Life & Health Insurance

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
112.5 ZAR +2.25% Intraday chart for Discovery Limited +3.32% -21.73%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 96,185 68,648 82,934 84,149 96,028 74,460 - -
Enterprise Value (EV) 1 111,726 84,808 97,318 100,081 111,024 96,058 97,250 98,502
P/E ratio 14.9 x 711 x 26.6 x 15.7 x 18.7 x 10.6 x 9.03 x 7.86 x
Yield 1.44% 0.97% - - - 1.67% 1.94% 2.23%
Capitalization / Revenue 2.57 x 1.58 x 1.75 x 1.67 x 1.94 x 1.07 x 1.01 x 0.94 x
EV / Revenue 2.98 x 1.95 x 2.05 x 1.98 x 2.24 x 1.38 x 1.31 x 1.24 x
EV / EBITDA - - - - 12.7 x 7.45 x 6.82 x 6.1 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.27 x 1.54 x 1.79 x 1.6 x 1.53 x 1.34 x 1.19 x 1.05 x
Nbr of stocks (in thousands) 645,058 656,603 656,800 656,900 658,400 662,100 - -
Reference price 2 149.1 104.6 126.3 128.1 145.8 112.5 112.5 112.5
Announcement Date 9/4/19 9/16/20 9/2/21 9/7/22 9/21/23 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 37,441 43,467 47,383 50,520 49,535 69,488 74,089 79,144
EBITDA 1 - - - - 8,718 12,886 14,266 16,152
EBIT 1 - - - - 8,662 12,806 14,186 16,072
Operating Margin - - - - 17.49% 18.43% 19.15% 20.31%
Earnings before Tax (EBT) 1 7,919 800 4,195 6,944 7,372 9,905 10,864 11,584
Net income 1 6,533 97 3,157 5,422 5,258 7,008 8,256 9,480
Net margin 17.45% 0.22% 6.66% 10.73% 10.61% 10.09% 11.14% 11.98%
EPS 2 10.01 0.1470 4.754 8.178 7.815 10.58 12.46 14.30
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.150 1.010 - - - 1.875 2.183 2.511
Announcement Date 9/4/19 9/16/20 9/2/21 9/7/22 9/21/23 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2021 S1 2022 S1
Net sales - -
EBITDA - -
EBIT 4,250 -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income - -
Net margin - -
EPS - -
Dividend per Share 1 - -
Announcement Date 2/25/21 2/24/22
1ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 15,541 16,160 14,384 15,932 14,996 21,599 22,790 24,042
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - 1.72 x 1.676 x 1.598 x 1.488 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 16.2% 8.55% 7.49% 10.8% 8.95% 13.1% 13.9% 14.1%
ROA (Net income/ Total Assets) 2.98% 1.92% 1.49% 2.25% 2.68% 2.72% 2.76% 2.78%
Assets 1 219,420 5,055 211,808 241,418 196,297 257,458 298,817 341,370
Book Value Per Share 2 65.60 67.90 70.70 80.10 95.10 83.80 94.50 107.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 9/4/19 9/16/20 9/2/21 9/7/22 9/21/23 - - -
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
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
112.5 ZAR
Average target price
184.5 ZAR
Spread / Average Target
+64.07%
Consensus

Annual profits - Rate of surprise

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