Stock MERCINS MERCANTILE ISLAMI INSURANCE PLC
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Financials Mercantile Islami Insurance PLC

Equities

MERCINS

BD0721MIC002

Property & Casualty Insurance

End-of-day quote Dhaka S.E.
Other stock markets
 06:00:00 2024-04-24 pm EDT 		5-day change 1st Jan Change
31.9 BDT -2.74% Intraday chart for Mercantile Islami Insurance PLC -5.90% -3.04%
2023 Mercantile Islami Insurance PLC Appoints Mr. Md. Nabiullah as the Chairman CI
2023 Mercantile Islami Insurance PLC Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 1,004 969.6 1,409 1,965 2,150 1,319
Enterprise Value (EV) 1 65.35 30.23 455.7 836.8 957.3 177.2
P/E ratio 18.1 x 20.3 x 22.9 x 27.1 x 24 x 15.7 x
Yield 4.29% 4.44% 2.14% 2.19% 2% 3.27%
Capitalization / Revenue 3.45 x 3.35 x 4.6 x 5.56 x 5.09 x 2.94 x
EV / Revenue 0.22 x 0.1 x 1.49 x 2.37 x 2.27 x 0.39 x
EV / EBITDA 0.83 x 0.46 x 5.52 x 8.53 x 7.65 x 1.58 x
EV / FCF -4.91 x 0.64 x 9.4 x 4.76 x 14.4 x -11.3 x
FCF Yield -20.4% 155% 10.6% 21% 6.95% -8.83%
Price to Book 1.29 x 1.25 x 1.78 x 2.39 x 2.45 x 1.47 x
Nbr of stocks (in thousands) 43,095 43,095 43,095 43,095 43,095 43,095
Reference price 2 23.30 22.50 32.70 45.60 49.90 30.60
Announcement Date 7/6/18 7/21/19 6/18/21 6/18/21 6/9/22 6/13/23
1BDT in Million2BDT
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 291.1 289.4 306.3 353.4 422.3 449
EBITDA 1 79.06 65.39 82.51 98.07 125.1 112.3
EBIT 1 73.85 60.23 77.89 94.1 120.4 111.1
Operating Margin 25.37% 20.81% 25.43% 26.62% 28.51% 24.74%
Earnings before Tax (EBT) 1 71.4 59.57 76.95 93.38 118.7 108.7
Net income 1 55.56 47.77 61.66 72.54 89.49 84.08
Net margin 19.09% 16.5% 20.13% 20.52% 21.19% 18.73%
EPS 2 1.289 1.108 1.431 1.683 2.077 1.951
Free Cash Flow 1 -13.31 46.95 48.47 175.7 66.55 -15.66
FCF margin -4.57% 16.22% 15.82% 49.72% 15.76% -3.49%
FCF Conversion (EBITDA) - 71.79% 58.74% 179.19% 53.22% -
FCF Conversion (Net income) - 98.29% 78.61% 242.26% 74.36% -
Dividend per Share 2 1.000 1.000 0.7000 1.000 1.000 1.000
Announcement Date 7/6/18 7/21/19 6/18/21 6/18/21 6/9/22 6/13/23
1BDT in Million2BDT
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 939 939 954 1,128 1,193 1,141
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -13.3 46.9 48.5 176 66.5 -15.7
ROE (net income / shareholders' equity) 7.28% 6.15% 7.89% 9.01% 10.5% 9.48%
ROA (Net income/ Total Assets) 3.39% 2.38% 2.47% 2.67% 3.23% 2.83%
Assets 1 1,640 2,005 2,498 2,717 2,772 2,967
Book Value Per Share 2 18.10 18.00 18.30 19.10 20.40 20.80
Cash Flow per Share 2 21.80 21.80 22.20 26.20 27.70 26.80
Capex 1 5.15 4.4 0.85 0.87 7.61 18.6
Capex / Sales 1.77% 1.52% 0.28% 0.24% 1.8% 4.15%
Announcement Date 7/6/18 7/21/19 6/18/21 6/18/21 6/9/22 6/13/23
1BDT in Million2BDT
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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