Financials Manila Jockey Club, Inc.

Equities

MJC

PHY6131D1038

Casinos & Gaming

End-of-day quote Philippines S.E. 06:00:00 2023-05-17 pm EDT 5-day change 1st Jan Change
1.27 PHP -.--% Intraday chart for Manila Jockey Club, Inc. -.--% -.--%

Valuation

Fiscal Period: December 2016 2017 2018 2019 2020 2021
Capitalization 1 1,992 4,981 5,429 5,006 3,452 3,586
Enterprise Value (EV) 1 1,939 5,018 5,419 4,765 3,458 3,456
P/E ratio -25.8 x -41.7 x -40.6 x 137 x -2.2 x -17.6 x
Yield 2.5% 1% - - - 2.08%
Capitalization / Revenue 3.72 x 6.59 x 5.69 x 2.85 x 5.52 x 8.18 x
EV / Revenue 3.62 x 6.64 x 5.68 x 2.72 x 5.53 x 7.88 x
EV / EBITDA 39.4 x 53.8 x 61 x 14.6 x -54.9 x 31.9 x
EV / FCF 24.8 x 72.6 x 27.3 x 15.9 x -24.9 x 24.9 x
FCF Yield 4.03% 1.38% 3.67% 6.31% -4.02% 4.01%
Price to Book 0.49 x 1.27 x 1.46 x 1.34 x 1.58 x 1.81 x
Nbr of stocks (in thousands) 1,494,242 1,494,242 1,494,242 1,494,242 1,494,242 1,494,242
Reference price 2 1.333 3.333 3.633 3.350 2.310 2.400
Announcement Date 5/2/17 5/2/18 4/16/19 7/16/20 8/17/21 5/17/22
1PHP in Million2PHP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2016 2017 2018 2019 2020 2021
Net sales 1 535.2 756.1 953.4 1,755 625.8 438.3
EBITDA 1 49.25 93.29 88.78 325.4 -62.96 108.4
EBIT 1 -34.82 8.118 -4.582 225.6 -193.4 -15.5
Operating Margin -6.51% 1.07% -0.48% 12.85% -30.91% -3.54%
Earnings before Tax (EBT) 1 -67.87 -108.5 -122.7 118.5 -1,513 -229
Net income 1 -77.08 -119.4 -133.8 36.41 -1,570 -203.2
Net margin -14.4% -15.79% -14.03% 2.07% -250.96% -46.35%
EPS 2 -0.0516 -0.0799 -0.0895 0.0244 -1.051 -0.1360
Free Cash Flow 1 78.13 69.13 198.8 300.5 -138.9 138.6
FCF margin 14.6% 9.14% 20.85% 17.12% -22.2% 31.62%
FCF Conversion (EBITDA) 158.64% 74.1% 223.9% 92.33% - 127.86%
FCF Conversion (Net income) - - - 825.32% - -
Dividend per Share 2 0.0333 0.0333 - - - 0.0500
Announcement Date 5/2/17 5/2/18 4/16/19 7/16/20 8/17/21 5/17/22
1PHP in Million2PHP
Estimates

Balance Sheet Analysis

Fiscal Period: December 2016 2017 2018 2019 2020 2021
Net Debt 1 - 36.7 - - 6.46 -
Net Cash position 1 53.7 - 9.75 240 - 130
Leverage (Debt/EBITDA) - 0.3939 x - - -0.1026 x -
Free Cash Flow 1 78.1 69.1 199 300 -139 139
ROE (net income / shareholders' equity) -1.86% -2.95% -3.56% 0.9% -52.2% -9.54%
ROA (Net income/ Total Assets) -0.45% 0.11% -0.06% 2.76% -2.65% -0.28%
Assets 1 17,068 -113,675 223,314 1,318 59,302 73,856
Book Value Per Share 2 2.730 2.620 2.490 2.510 1.460 1.330
Cash Flow per Share 2 0.1100 0.1500 0.2200 0.4000 0.1200 0.1900
Capex 1 34 30.7 31.7 65 42.6 9.54
Capex / Sales 6.35% 4.06% 3.33% 3.7% 6.81% 2.18%
Announcement Date 5/2/17 5/2/18 4/16/19 7/16/20 8/17/21 5/17/22
1PHP in Million2PHP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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