Financials FirstRand Limited

Equities

FSR

ZAE000066304

Banks

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
63.54 ZAR +3.65% Intraday chart for FirstRand Limited +6.02% -13.56%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 384,508 213,433 300,612 349,672 384,032 356,087 - -
Enterprise Value (EV) 1 306,181 213,433 300,612 349,672 384,032 356,087 356,087 356,087
P/E ratio 12.7 x 12.5 x 11.2 x 10.7 x 10.6 x 9.13 x 8.23 x 7.47 x
Yield 4.25% 3.84% 4.91% 5.48% 5.61% 6.44% 6.94% 7.64%
Capitalization / Revenue 3.61 x 2.04 x 2.78 x 3.05 x 2.91 x 2.52 x 2.35 x 2.19 x
EV / Revenue 3.61 x 2.04 x 2.78 x 3.05 x 2.91 x 2.52 x 2.35 x 2.19 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.74 x 1.44 x 1.84 x 1.98 x 2.13 x 1.78 x 1.63 x 1.49 x
Nbr of stocks (in thousands) 5,609,162 5,607,807 5,609,488 5,606,414 5,606,303 5,604,137 - -
Reference price 2 68.55 38.06 53.59 62.37 68.50 63.54 63.54 63.54
Announcement Date 9/5/19 9/10/20 9/16/21 9/15/22 9/14/23 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 106,505 104,606 108,059 114,712 131,986 141,149 151,610 162,905
EBITDA - - - - - - - -
EBIT 1 52,222 48,301 50,633 53,761 - 67,304 71,032 75,398
Operating Margin 49.03% 46.17% 46.86% 46.87% - 47.68% 46.85% 46.28%
Earnings before Tax (EBT) 1 41,672 23,628 37,291 48,265 51,258 54,792 60,178 65,316
Net income 1 30,211 17,021 26,743 33,599 36,366 38,728 43,221 47,896
Net margin 28.37% 16.27% 24.75% 29.29% 27.55% 27.44% 28.51% 29.4%
EPS 2 5.386 3.035 4.769 5.843 6.487 6.958 7.719 8.504
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.910 1.460 2.630 3.420 3.840 4.092 4.407 4.852
Announcement Date 9/5/19 9/10/20 9/16/21 9/15/22 9/14/23 - - -
1ZAR in Million2ZAR
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
Net sales 53,775 50,831 53,964 54,095 57,137 58,385 64,038 67,507 - -
EBITDA - - - - - - - - - -
EBIT 25,548 - 25,244 - - - - - - -
Operating Margin 47.51% - 46.78% - - - - - - -
Earnings before Tax (EBT) 19,411 - 15,817 - - - - - - -
Net income 13,982 - 11,132 - - - - - - -
Net margin 26% - 20.63% - - - - - - -
EPS 1 2.493 0.5420 1.985 2.784 2.821 3.022 3.207 3.280 3.481 3.580
Dividend per Share 1.460 - 1.100 1.530 1.570 - - - - -
Announcement Date 3/10/20 9/10/20 3/4/21 9/16/21 3/3/22 9/15/22 3/2/23 9/14/23 2/29/24 -
1ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 78,327 - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 22.8% 12.9% 18.4% 20.6% 21.2% 20.3% 20.4% 20.4%
ROA (Net income/ Total Assets) 1.75% 0.96% 1.39% 1.69% 1.71% 1.62% 1.59% 1.58%
Assets 1 1,726,343 1,773,021 1,923,957 1,988,107 2,126,667 2,393,585 2,720,039 3,027,557
Book Value Per Share 2 25.00 26.40 29.10 31.50 32.20 35.70 39.00 42.60
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 9/5/19 9/10/20 9/16/21 9/15/22 9/14/23 - - -
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
9
Last Close Price
63.54 ZAR
Average target price
75.45 ZAR
Spread / Average Target
+18.75%
Consensus
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  4. Financials FirstRand Limited