Financials Motus Holdings Limited

Equities

End-of-day quote Johannesburg S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
81.77 ^ZAR	+2.31%		+1.58%	-19.44%

Apr. 17	Motus Holdings Limited Announces Chief Executive Officer Changes	CI
Mar. 18	Earnings Flash (MOTS) MOTUS GI HOLDINGS Reports Q4 Revenue $64,000	MT

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	14,308	5,848	17,331	18,410	17,197	14,310	-	-
Enterprise Value (EV) ¹	19,085	13,290	20,732	23,446	30,909	29,458	26,873	24,262
P/E ratio	7.67 x	18.6 x	8.1 x	5.92 x	5.2 x	5.55 x	4.51 x	3.92 x
Yield	6.7%	-	4.45%	6.64%	7.09%	6.53%	8.25%	8.81%
Capitalization / Revenue	0.18 x	0.08 x	0.2 x	0.2 x	0.16 x	0.12 x	0.12 x	0.11 x
EV / Revenue	0.24 x	0.18 x	0.24 x	0.25 x	0.29 x	0.26 x	0.22 x	0.19 x
EV / EBITDA	3.97 x	3.26 x	3.91 x	3.46 x	3.82 x	3.43 x	3.01 x	2.57 x
EV / FCF	7.87 x	12.2 x	3.53 x	11.9 x	-17.6 x	5.02 x	5.3 x	5.33 x
FCF Yield	12.7%	8.2%	28.4%	8.4%	-5.69%	19.9%	18.9%	18.8%
Price to Book	1.18 x	0.46 x	1.42 x	1.31 x	0.98 x	0.72 x	0.64 x	0.57 x
Nbr of stocks (in thousands)	195,682	191,000	185,680	172,056	171,665	175,000	-	-
Reference price ²	73.12	30.62	93.34	107.0	100.2	81.77	81.77	81.77
Announcement Date	8/28/19	9/16/20	8/31/21	8/31/22	8/29/23	-	-	-

¹ZAR in Million²ZAR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	79,711	73,417	87,205	91,978	106,321	115,084	122,604	130,400
EBITDA ¹	4,806	4,082	5,302	6,785	8,083	8,577	8,923	9,443
EBIT ¹	3,620	2,136	3,795	5,029	5,723	5,494	5,920	6,358
Operating Margin	4.54%	2.91%	4.35%	5.47%	5.38%	4.77%	4.83%	4.88%
Earnings before Tax (EBT) ¹	2,610	541	2,860	4,473	4,357	3,465	4,312	4,962
Net income ¹	1,868	306	2,098	3,290	3,354	2,531	3,142	3,605
Net margin	2.34%	0.42%	2.41%	3.58%	3.15%	2.2%	2.56%	2.76%
EPS ²	9.530	1.650	11.53	18.08	19.28	14.73	18.13	20.88
Free Cash Flow ¹	2,425	1,090	5,881	1,969	-1,759	5,873	5,066	4,555
FCF margin	3.04%	1.48%	6.74%	2.14%	-1.65%	5.1%	4.13%	3.49%
FCF Conversion (EBITDA)	50.46%	26.7%	110.92%	29.02%	-	68.48%	56.78%	48.24%
FCF Conversion (Net income)	129.82%	356.21%	280.31%	59.85%	-	232.07%	161.25%	126.34%
Dividend per Share ²	4.900	-	4.150	7.100	7.100	5.338	6.747	7.206
Announcement Date	8/28/19	9/16/20	8/31/21	8/31/22	8/29/23	-	-	-

¹ZAR in Million²ZAR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	4,777	7,442	3,401	5,036	13,712	15,149	12,563	9,952
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.994 x	1.823 x	0.6415 x	0.7422 x	1.696 x	1.766 x	1.408 x	1.054 x
Free Cash Flow ¹	2,425	1,090	5,881	1,969	-1,759	5,873	5,066	4,555
ROE (net income / shareholders' equity)	16.8%	4.51%	17.5%	27%	21.3%	13.9%	15.5%	15.9%
ROA (Net income/ Total Assets)	5.23%	1.33%	5.22%	-	-	5.15%	5.55%	5.7%
Assets ¹	35,710	22,964	40,168	-	-	49,139	56,611	63,252
Book Value Per Share ²	61.90	66.50	65.90	81.40	102.0	114.0	127.0	144.0
Cash Flow per Share ²	14.00	11.60	32.00	15.00	0.5200	35.50	30.80	31.90
Capex ¹	910	1,119	174	2,866	1,849	2,698	1,891	2,076
Capex / Sales	1.14%	1.52%	0.2%	3.12%	1.74%	2.34%	1.54%	1.59%
Announcement Date	8/28/19	9/16/20	8/31/21	8/31/22	8/29/23	-	-	-

¹ZAR in Million²ZAR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

81.77 ZAR

Average target price

128.4 ZAR

Spread / Average Target

+57.03%

	1st Jan change	Capi.
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