Financials Magic Software Enterprises Ltd.

Equities

MGIC

IL0010823123

Software

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
11.64 ^USD	+0.52%		+0.78%	+20.12%

Mar. 14	Barclays Raises Price Target on Magic Software Enterprises to $14 From $13, Maintains Overweight Rating	MT
Mar. 13	Transcript : Magic Software Enterprises Ltd., Q4 2023 Earnings Call, Mar 13, 2024

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	340.1	478.5	767.3	1,027	786.6	571.5	571.5	-
Enterprise Value (EV) ¹	340.1	478.5	767.3	1,027	786.6	475.7	571.5	571.5
P/E ratio	19.6 x	23.9 x	30.7 x	34.9 x	20.3 x	12.9 x	15.5 x	14.9 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	1.2 x	1.47 x	2.07 x	2.14 x	1.39 x	0.89 x	1.06 x	1.02 x
EV / Revenue	1.2 x	1.47 x	2.07 x	2.14 x	1.39 x	0.89 x	1.06 x	1.02 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	44,573	48,928	49,027	49,073	49,093	49,099	49,099	-
Reference price ²	7.630	9.780	15.65	20.93	16.02	11.64	11.64	11.64
Announcement Date	3/4/19	3/9/20	3/8/21	3/2/22	3/9/23	3/13/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	284.4	325.6	371.2	480.3	566.8	535.1	540	558.6
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	39.51	43.94	52.63	66.82	74.15	57.11	60.9	63
Operating Margin	13.9%	13.5%	14.18%	13.91%	13.08%	10.67%	11.28%	11.28%
Earnings before Tax (EBT) ¹	31.85	32.47	37.4	45.26	57.42	52.49	53.1	55.2
Net income ¹	19.88	20.27	25.19	29.33	38.88	37.03	36.8	38.5
Net margin	6.99%	6.22%	6.79%	6.11%	6.86%	6.92%	6.81%	6.89%
EPS ²	0.3900	0.4100	0.5100	0.6000	0.7900	0.7500	0.7500	0.7800
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	3/4/19	3/9/20	3/8/21	3/2/22	3/9/23	3/13/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1
Net sales ¹	94.89	104.6	107.3	119.2	120.9	133	138.7	137	144	147.1	142.4	142.3	-	115	126.8
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	14.18	15.25	14.98	15.91	16.17	19.76	18.91	17.56	18.5	19.18	18.45	16.5	11.6	8.4	13.9
Operating Margin	14.94%	14.59%	13.96%	13.35%	13.38%	14.85%	13.63%	12.82%	12.85%	13.03%	12.96%	11.6%	-	7.3%	10.96%
Earnings before Tax (EBT) ¹	10.44	8.989	11.06	11.39	10.97	11.84	14.37	14.51	15.3	13.53	14.65	16.2	11.4	8.1	11.9
Net income ¹	7.085	6.511	7.543	7.78	7.497	6.512	9.618	8	11.52	9.64	10.11	11.6	7.8	5.3	8.1
Net margin	7.47%	6.23%	7.03%	6.53%	6.2%	4.9%	6.93%	5.84%	8%	6.55%	7.1%	8.15%	-	4.61%	6.39%
EPS ²	0.1400	0.1300	0.1500	0.1600	0.1500	0.1300	0.2000	0.1600	0.2300	0.2300	0.2000	0.2400	0.1600	0.1100	0.1600
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/16/20	3/8/21	5/10/21	8/12/21	11/15/21	3/2/22	5/12/22	8/11/22	11/14/22	3/9/23	5/18/23	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	-	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/4/19	3/9/20	3/8/21	3/2/22	3/9/23	3/13/24	-	-

¹USD in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Magic Software Enterprises Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

11.64 USD

Average target price

14 USD

Spread / Average Target

+20.27%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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