MTN GROUP LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 86.35 ZAR | +2.90% |
|
+5.19% | -25.24% |
| Mar. 28 | MTN Group Appoints Mike Silber as Group Executive for Regulatory | CI |
| Mar. 25 | MTN Group Limited Provides Dividend Guidance for the Year 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 148,317 | 108,262 | 307,757 | 229,864 | 208,640 | 155,989 | - | - |
| Enterprise Value (EV) 1 | 267,185 | 212,839 | 397,085 | 325,848 | 318,552 | 290,573 | 281,342 | 302,459 |
| P/E ratio | 16.8 x | 6.43 x | 22.9 x | 12.2 x | 51.8 x | 14.3 x | 8.53 x | 7.68 x |
| Yield | 6.67% | - | 1.76% | 2.59% | 2.86% | 3.82% | 3.99% | 4.3% |
| Capitalization / Revenue | 0.98 x | 0.6 x | 1.69 x | 1.11 x | 0.94 x | 0.79 x | 0.7 x | 0.63 x |
| EV / Revenue | 1.76 x | 1.19 x | 2.19 x | 1.57 x | 1.44 x | 1.48 x | 1.26 x | 1.23 x |
| EV / EBITDA | 4.17 x | 2.62 x | 5.21 x | 3.61 x | 3.59 x | 3.95 x | 3.14 x | 3.08 x |
| EV / FCF | 20.8 x | 6.08 x | 9.26 x | 8.87 x | 10 x | 17.9 x | 13.4 x | 9.73 x |
| FCF Yield | 4.82% | 16.4% | 10.8% | 11.3% | 10% | 5.59% | 7.46% | 10.3% |
| Price to Book | 1.72 x | 1.02 x | 2.84 x | 2.02 x | 1.52 x | 1.07 x | 1.05 x | 0.89 x |
| Nbr of stocks (in thousands) | 1,798,005 | 1,798,675 | 1,802,808 | 1,805,685 | 1,806,405 | 1,806,475 | - | - |
| Reference price 2 | 82.49 | 60.19 | 170.7 | 127.3 | 115.5 | 86.35 | 86.35 | 86.35 |
| Announcement Date | 3/11/20 | 3/10/21 | 3/9/22 | 3/12/23 | 3/22/24 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 151,460 | 179,361 | 181,646 | 207,003 | 221,056 | 196,293 | 222,642 | 246,184 |
| EBITDA 1 | 64,092 | 81,311 | 76,158 | 90,348 | 88,780 | 73,633 | 89,469 | 98,163 |
| EBIT 1 | 31,292 | 46,105 | 40,935 | 56,081 | 46,512 | 35,083 | 50,344 | 55,413 |
| Operating Margin | 20.66% | 25.71% | 22.54% | 27.09% | 21.04% | 17.87% | 22.61% | 22.51% |
| Earnings before Tax (EBT) 1 | 17,600 | 29,086 | 28,816 | 41,497 | 11,768 | 14,851 | 37,665 | 40,045 |
| Net income 1 | 8,963 | 17,022 | 13,750 | 19,337 | 4,092 | 12,371 | 21,304 | 20,708 |
| Net margin | 5.92% | 9.49% | 7.57% | 9.34% | 1.85% | 6.3% | 9.57% | 8.41% |
| EPS 2 | 4.910 | 9.360 | 7.440 | 10.44 | 2.230 | 6.044 | 10.12 | 11.24 |
| Free Cash Flow 1 | 12,873 | 35,011 | 42,873 | 36,723 | 31,871 | 16,254 | 20,975 | 31,086 |
| FCF margin | 8.5% | 19.52% | 23.6% | 17.74% | 14.42% | 8.28% | 9.42% | 12.63% |
| FCF Conversion (EBITDA) | 20.09% | 43.06% | 56.29% | 40.65% | 35.9% | 22.07% | 23.44% | 31.67% |
| FCF Conversion (Net income) | 143.62% | 205.68% | 311.8% | 189.91% | 778.86% | 131.38% | 98.45% | 150.12% |
| Dividend per Share 2 | 5.500 | - | 3.000 | 3.300 | 3.300 | 3.300 | 3.449 | 3.712 |
| Announcement Date | 3/11/20 | 3/10/21 | 3/9/22 | 3/12/23 | 3/22/24 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 78,955 | 84,076 | 95,285 | 86,673 | 94,973 | 97,491 | 109,512 |
| EBITDA | - | - | - | 38,837 | - | - | - |
| EBIT | - | - | - | 21,881 | - | - | - |
| Operating Margin | - | - | - | 25.25% | - | - | - |
| Earnings before Tax (EBT) | - | - | - | 10,238 | - | - | - |
| Net income | - | 12,117 | - | 2,673 | - | - | - |
| Net margin | - | 14.41% | - | 3.08% | - | - | - |
| EPS 2 | 2.480 | 6.710 | 2.650 | 1.460 | 5.980 | 4.330 | 6.110 |
| Dividend per Share | 3.550 | - | - | - | - | - | - |
| Announcement Date | 3/11/20 | 8/6/20 | 3/10/21 | 8/12/21 | 3/9/22 | 8/11/22 | 3/12/23 |
1ZAR in Million2ZAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 118,868 | 104,577 | 89,328 | 95,984 | 109,912 | 134,584 | 125,353 | 146,470 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.855 x | 1.286 x | 1.173 x | 1.062 x | 1.238 x | 1.828 x | 1.401 x | 1.492 x |
| Free Cash Flow 1 | 12,873 | 35,011 | 42,873 | 36,723 | 31,871 | 16,254 | 20,975 | 31,086 |
| ROE (net income / shareholders' equity) | 9.97% | 14.4% | 16.6% | 23.4% | 24.4% | 6.58% | 12.3% | 15.1% |
| ROA (Net income/ Total Assets) | 3.01% | 4.14% | 4.98% | 5.1% | 1.39% | 2.4% | 3.67% | 4.72% |
| Assets 1 | 297,921 | 411,402 | 276,354 | 378,837 | 294,879 | 515,686 | 580,807 | 438,813 |
| Book Value Per Share 2 | 47.90 | 59.00 | 60.10 | 63.00 | 75.70 | 80.80 | 82.00 | 97.40 |
| Cash Flow per Share 2 | 19.90 | 32.20 | 36.40 | 36.80 | 34.90 | 27.70 | 34.70 | 40.80 |
| Capex 1 | 23,416 | 23,502 | 24,413 | 31,398 | 32,187 | 40,561 | 45,656 | 45,147 |
| Capex / Sales | 15.46% | 13.1% | 13.44% | 15.17% | 14.56% | 20.66% | 20.51% | 18.34% |
| Announcement Date | 3/11/20 | 3/10/21 | 3/9/22 | 3/12/23 | 3/22/24 | - | - | - |
1ZAR in Million2ZAR
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
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
86.35
ZAR
Average target price
109.2
ZAR
Spread / Average Target
+26.52%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -25.24% | 8.29B | |
| +28.33% | 94.52B | |
| +6.76% | 56.67B | |
| -11.97% | 23.64B | |
| -16.38% | 20.55B | |
| -12.50% | 11.16B | |
| +5.61% | 10.64B | |
| +2.45% | 10.28B | |
| +0.88% | 8.9B | |
| +20.93% | 6.61B |
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- Financials MTN Group Limited
