Financials Manawa Energy Limited

Equities

MNW

NZTPXE0001S5

Electric Utilities

End-of-day quote New Zealand S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
4.37 NZD -0.46% Intraday chart for Manawa Energy Limited -4.17% +1.86%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,069 2,003 2,576 2,206 1,555 1,368 - -
Enterprise Value (EV) 1 2,631 2,656 3,306 2,946 1,999 1,810 1,816 1,833
P/E ratio 22.8 x 21.1 x 75.5 x 18.9 x 16.1 x 17.7 x 17.8 x 17.6 x
Yield 11.2% 5.31% 4.31% 4.82% 3.22% 3.79% 3.96% 4.18%
Capitalization / Revenue 2.01 x 2.02 x 2.7 x 3.17 x 3.56 x 3.08 x 2.89 x 2.81 x
EV / Revenue 2.55 x 2.68 x 3.47 x 4.23 x 4.58 x 4.08 x 3.84 x 3.76 x
EV / EBITDA 11.8 x 14.2 x 16.5 x 14.4 x 14.3 x 12.7 x 11.7 x 11.4 x
EV / FCF 22 x 22.9 x - - 82.3 x 31.8 x 22.4 x 25.1 x
FCF Yield 4.55% 4.37% - - 1.22% 3.15% 4.46% 3.98%
Price to Book 1.69 x 1.86 x 2.41 x 2.15 x 1.52 x 1.07 x 1.05 x 1.02 x
Nbr of stocks (in thousands) 312,973 312,973 312,973 312,973 312,973 312,973 - -
Reference price 2 6.610 6.400 8.230 7.050 4.970 4.370 4.370 4.370
Announcement Date 5/12/19 5/27/20 5/16/21 5/15/22 5/15/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,030 989.9 952.8 696.1 436.8 443.6 472.8 487.4
EBITDA 1 222.2 186.5 200.2 204.2 140.2 142.2 155.6 161
EBIT 1 175 143.9 154.8 156.7 116.8 119.4 137.3 145.6
Operating Margin 16.99% 14.54% 16.25% 22.52% 26.74% 26.91% 29.05% 29.88%
Earnings before Tax (EBT) 1 130.2 137.2 41.01 170.4 140.4 102.2 105.9 110.5
Net income 1 90.65 95.07 34.12 117.2 96.71 77.74 76.56 78.37
Net margin 8.8% 9.6% 3.58% 16.84% 22.14% 17.53% 16.19% 16.08%
EPS 2 0.2900 0.3040 0.1090 0.3740 0.3090 0.2469 0.2458 0.2487
Free Cash Flow 1 119.7 116.1 - - 24.29 57 81 73
FCF margin 11.62% 11.73% - - 5.56% 12.85% 17.13% 14.98%
FCF Conversion (EBITDA) 53.89% 62.26% - - 17.32% 40.09% 52.04% 45.35%
FCF Conversion (Net income) 132.09% 122.11% - - 25.12% 73.32% 105.8% 93.15%
Dividend per Share 2 0.7400 0.3400 0.3550 0.3400 0.1600 0.1656 0.1732 0.1828
Announcement Date 5/12/19 5/27/20 5/16/21 5/15/22 5/15/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2023 S1 2023 S2 2024 S1
Net sales 539.4 506.3 - - -
EBITDA 1 107.1 - - - 77.84
EBIT - - - - -
Operating Margin - - - - -
Earnings before Tax (EBT) - - - - -
Net income - 33.18 388.8 - -
Net margin - 6.55% - - -
EPS - - 1.243 - -
Dividend per Share - - - 0.0850 -
Announcement Date 11/7/19 11/5/20 11/9/22 5/15/23 -
1NZD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 562 653 730 739 444 443 448 466
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.53 x 3.504 x 3.648 x 3.621 x 3.165 x 3.113 x 2.877 x 2.893 x
Free Cash Flow 1 120 116 - - 24.3 57 81 73
ROE (net income / shareholders' equity) 6.87% 8.26% 8.78% 11.2% 6.15% 5.48% 6.23% 6.49%
ROA (Net income/ Total Assets) 3.99% 3.49% 4.23% 5.06% 4.4% 5.1% 4.93% 5.14%
Assets 1 2,272 2,724 806.1 2,315 2,197 1,525 1,554 1,526
Book Value Per Share 2 3.910 3.440 3.420 3.280 3.280 4.090 4.180 4.260
Cash Flow per Share 2 0.4700 0.4900 0.5200 0.5200 0.2100 0.3200 0.3100 0.3100
Capex 1 27.8 37 26.1 31.8 40 66.4 42.4 56
Capex / Sales 2.7% 3.73% 2.74% 4.57% 9.15% 14.97% 8.96% 11.5%
Announcement Date 5/12/19 5/27/20 5/16/21 5/15/22 5/15/23 - - -
1NZD in Million2NZD
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
4.37 NZD
Average target price
5.7 NZD
Spread / Average Target
+30.43%
Consensus

Annual profits - Rate of surprise

  1. Stock Market
  2. Equities
  3. MNW Stock
  4. Financials Manawa Energy Limited