MACROASIA CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.65 PHP | -2.11% |
|
+3.56% | +12.05% |
| Apr. 03 | MacroAsia's Net Income Balloons 132% in 2023 | MT |
| Apr. 02 | MacroAsia Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 27,053 | 26,046 | 12,859 | 10,022 | 9,266 | 7,847 |
| Enterprise Value (EV) 1 | 27,480 | 28,391 | 15,078 | 13,231 | 12,177 | 9,917 |
| P/E ratio | 25.8 x | 23.2 x | -8.12 x | -4,649 x | 20.9 x | 9.25 x |
| Yield | 1.18% | 1.51% | - | - | 1.02% | 2.41% |
| Capitalization / Revenue | 7.51 x | 4.22 x | 5.7 x | 5.14 x | 1.9 x | 0.98 x |
| EV / Revenue | 7.63 x | 4.6 x | 6.68 x | 6.79 x | 2.49 x | 1.24 x |
| EV / EBITDA | 99.3 x | 52.6 x | -19.6 x | -30.2 x | 30.3 x | 10.8 x |
| EV / FCF | -27.8 x | -63.9 x | -34.6 x | -36.1 x | 93 x | 30.7 x |
| FCF Yield | -3.6% | -1.57% | -2.89% | -2.77% | 1.08% | 3.26% |
| Price to Book | 4.92 x | 4.05 x | 2.81 x | 2.07 x | 1.67 x | 1.28 x |
| Nbr of stocks (in thousands) | 1,909,622 | 1,894,219 | 1,890,958 | 1,890,958 | 1,890,958 | 1,890,958 |
| Reference price 2 | 14.17 | 13.75 | 6.800 | 5.300 | 4.900 | 4.150 |
| Announcement Date | 4/16/19 | 4/22/20 | 4/13/21 | 4/5/22 | 4/2/23 | 4/2/24 |
1PHP in Million2PHP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,601 | 6,168 | 2,258 | 1,949 | 4,884 | 7,997 |
| EBITDA 1 | 276.8 | 539.3 | -768.3 | -438.8 | 401.9 | 919.1 |
| EBIT 1 | 103.2 | 313.5 | -1,039 | -510.8 | 120.5 | 656.5 |
| Operating Margin | 2.87% | 5.08% | -46.01% | -26.21% | 2.47% | 8.21% |
| Earnings before Tax (EBT) 1 | 1,204 | 1,385 | -1,810 | -242.8 | 554.3 | 1,194 |
| Net income 1 | 1,048 | 1,129 | -1,587 | -2.162 | 446.1 | 851.1 |
| Net margin | 29.11% | 18.31% | -70.31% | -0.11% | 9.13% | 10.64% |
| EPS 2 | 0.5487 | 0.5917 | -0.8371 | -0.001140 | 0.2350 | 0.4489 |
| Free Cash Flow 1 | -988.8 | -444.6 | -436.1 | -366.2 | 130.9 | 323.4 |
| FCF margin | -27.46% | -7.21% | -19.32% | -18.79% | 2.68% | 4.04% |
| FCF Conversion (EBITDA) | - | - | - | - | 32.58% | 35.19% |
| FCF Conversion (Net income) | - | - | - | - | 29.35% | 38% |
| Dividend per Share 2 | 0.1667 | 0.2083 | - | - | 0.0500 | 0.1000 |
| Announcement Date | 4/16/19 | 4/22/20 | 4/13/21 | 4/5/22 | 4/2/23 | 4/2/24 |
1PHP in Million2PHP
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 427 | 2,346 | 2,219 | 3,209 | 2,911 | 2,069 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.542 x | 4.349 x | -2.889 x | -7.314 x | 7.245 x | 2.251 x |
| Free Cash Flow 1 | -989 | -445 | -436 | -366 | 131 | 323 |
| ROE (net income / shareholders' equity) | 20.7% | 19.2% | -31.1% | -3.12% | 8.7% | 17.6% |
| ROA (Net income/ Total Assets) | 0.88% | 1.78% | -5.68% | -3.06% | 0.69% | 3.39% |
| Assets 1 | 119,156 | 63,545 | 27,969 | 70.64 | 65,103 | 25,099 |
| Book Value Per Share 2 | 2.880 | 3.390 | 2.420 | 2.560 | 2.940 | 3.240 |
| Cash Flow per Share 2 | 0.3500 | 0.6400 | 0.6700 | 0.2700 | 0.2500 | 0.5600 |
| Capex 1 | 1,019 | 514 | 157 | 157 | 134 | 306 |
| Capex / Sales | 28.31% | 8.34% | 6.96% | 8.06% | 2.73% | 3.83% |
| Announcement Date | 4/16/19 | 4/22/20 | 4/13/21 | 4/5/22 | 4/2/23 | 4/2/24 |
1PHP in Million2PHP
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +12.05% | 152M | |
| +7.13% | 28.15B | |
| +14.40% | 12.88B | |
| +1.11% | 12.49B | |
| +22.68% | 10.66B | |
| +6.10% | 9.26B | |
| -11.93% | 6.8B | |
| +12.66% | 6.57B | |
| +6.89% | 6.3B | |
| +38.59% | 3.57B |
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