Financials Marshall Boya Ve Vernik Sanayii

Equities

MRSHL

TRAMRSHL91E9

Commodity Chemicals

Delayed Borsa Istanbul 11:09:57 2024-04-30 am EDT 5-day change 1st Jan Change
2,260 TRY -2.16% Intraday chart for Marshall Boya Ve Vernik Sanayii +8.03% +22.63%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 518 252.2 475.4 3,067 2,263 4,298
Enterprise Value (EV) 1 527.8 319.8 531.6 3,042 2,466 4,516
P/E ratio -214 x -7.04 x 25.4 x 141 x -23.5 x -568 x
Yield - - - - - -
Capitalization / Revenue 1.57 x 0.65 x 1.21 x 6.06 x 3.01 x 2.69 x
EV / Revenue 1.6 x 0.83 x 1.35 x 6.01 x 3.28 x 2.83 x
EV / EBITDA 27.7 x 11.9 x 7.84 x 67.5 x 1,349 x 19.1 x
EV / FCF -23.8 x -10.4 x 28.6 x 49.1 x -13.8 x -2,485 x
FCF Yield -4.2% -9.62% 3.49% 2.03% -7.23% -0.04%
Price to Book 4.89 x 3.86 x 5.67 x 29.3 x 318 x -747 x
Nbr of stocks (in thousands) 10,000 10,000 10,000 10,000 10,000 10,000
Reference price 2 51.80 25.22 47.54 306.7 226.3 429.8
Announcement Date 2/27/18 2/28/19 3/2/20 3/1/21 3/1/22 3/1/23
1TRY in Million2TRY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 330.2 385.7 393.6 506.2 751.6 1,595
EBITDA 1 19.05 26.97 67.77 45.06 1.828 236.5
EBIT 1 8.339 12.08 56.35 30.32 -19.41 205.1
Operating Margin 2.53% 3.13% 14.32% 5.99% -2.58% 12.86%
Earnings before Tax (EBT) 1 -3.324 -37.64 16.05 20.56 -101.4 -9.517
Net income 1 -2.415 -35.83 18.75 21.68 -96.3 -7.562
Net margin -0.73% -9.29% 4.76% 4.28% -12.81% -0.47%
EPS 2 -0.2415 -3.583 1.875 2.168 -9.630 -0.7562
Free Cash Flow 1 -22.19 -30.77 18.58 61.89 -178.3 -1.817
FCF margin -6.72% -7.98% 4.72% 12.23% -23.72% -0.11%
FCF Conversion (EBITDA) - - 27.41% 137.34% - -
FCF Conversion (Net income) - - 99.07% 285.42% - -
Dividend per Share - - - - - -
Announcement Date 2/27/18 2/28/19 3/2/20 3/1/21 3/1/22 3/1/23
1TRY in Million2TRY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 9.76 67.6 56.2 - 203 218
Net Cash position 1 - - - 25.3 - -
Leverage (Debt/EBITDA) 0.5125 x 2.507 x 0.8298 x - 111 x 0.9226 x
Free Cash Flow 1 -22.2 -30.8 18.6 61.9 -178 -1.82
ROE (net income / shareholders' equity) -2.25% -41.8% 25.1% 23% -172% -1,107%
ROA (Net income/ Total Assets) 2.62% 3.11% 12.5% 4.8% -1.86% 11.4%
Assets 1 -92.07 -1,153 149.6 451.8 5,181 -66.12
Book Value Per Share 2 10.60 6.540 8.390 10.50 0.7100 -0.5800
Cash Flow per Share 2 1.970 2.630 4.900 14.20 10.20 53.90
Capex 1 18.5 17.4 20 69.3 55.7 85
Capex / Sales 5.6% 4.5% 5.08% 13.7% 7.42% 5.33%
Announcement Date 2/27/18 2/28/19 3/2/20 3/1/21 3/1/22 3/1/23
1TRY in Million2TRY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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