Financials Dolmen City REIT

Equities

DCR

PK0099001023

Commercial REITs

End-of-day quote Pakistan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
14.42 PKR +1.48% Intraday chart for Dolmen City REIT -0.76% +4.95%

Valuation

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Capitalization 1 28,686 22,615 24,216 24,505 30,064 30,420
Enterprise Value (EV) 1 27,206 20,996 23,869 23,771 29,114 29,289
P/E ratio 5.67 x 3.29 x 2.98 x 2.85 x 3.08 x 3.27 x
Yield 9.3% 13% 11.5% 11.3% 11.1% 13.2%
Capitalization / Revenue 8.81 x 6.41 x 8.17 x 7.94 x 7.92 x 6.65 x
EV / Revenue 8.35 x 5.95 x 8.05 x 7.7 x 7.67 x 6.4 x
EV / EBITDA - - - - - -
EV / FCF 15.8 x 11.7 x 16.6 x 14.9 x 14 x 12.1 x
FCF Yield 6.32% 8.56% 6.04% 6.73% 7.17% 8.25%
Price to Book 0.68 x 0.49 x 0.47 x 0.43 x 0.47 x 0.44 x
Nbr of stocks (in thousands) 2,223,700 2,223,700 2,223,700 2,223,700 2,223,700 2,223,700
Reference price 2 12.90 10.17 10.89 11.02 13.52 13.68
Announcement Date 10/26/18 10/22/19 10/23/20 10/28/21 10/27/22 8/29/23
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net sales 1 3,257 3,527 2,965 3,086 3,795 4,577
EBITDA - - - - - -
EBIT 1 2,663 2,895 2,467 2,559 3,149 3,822
Operating Margin 81.77% 82.07% 83.2% 82.92% 82.98% 83.5%
Earnings before Tax (EBT) 1 5,055 6,870 8,118 8,610 9,763 9,292
Net income 1 5,055 6,870 8,118 8,610 9,763 9,292
Net margin 155.21% 194.77% 273.79% 279% 257.24% 203%
EPS 2 2.273 3.089 3.651 3.872 4.390 4.179
Free Cash Flow 1 1,720 1,797 1,442 1,599 2,087 2,418
FCF margin 52.82% 50.94% 48.63% 51.81% 54.98% 52.82%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) 34.03% 26.16% 17.76% 18.57% 21.37% 26.02%
Dividend per Share 2 1.200 1.320 1.250 1.240 1.500 1.810
Announcement Date 10/26/18 10/22/19 10/23/20 10/28/21 10/27/22 8/29/23
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 1,480 1,619 347 734 950 1,131
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 1,720 1,797 1,442 1,599 2,087 2,418
ROE (net income / shareholders' equity) 12% 15.5% 16.6% 15.8% 16.1% 13.9%
ROA (Net income/ Total Assets) 3.9% 4.02% 3.11% 2.9% 3.2% 3.54%
Assets 1 129,679 170,911 260,782 296,406 304,824 262,800
Book Value Per Share 2 19.00 20.80 23.10 25.80 28.80 31.30
Cash Flow per Share 2 0.6700 0.7300 0.1600 0.3300 0.4300 0.5100
Capex - - - - - -
Capex / Sales - - - - - -
Announcement Date 10/26/18 10/22/19 10/23/20 10/28/21 10/27/22 8/29/23
1PKR in Million2PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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