Financials MUA Ltd

Equities

MUAL.N0000

MU0624N00000

Property & Casualty Insurance

End-of-day quote Mauritius S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
86 MUR 0.00% Intraday chart for MUA Ltd -2.27% -13.13%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 2,615 3,111 3,765 4,058 6,987 6,273
Enterprise Value (EV) 1 2,289 2,879 3,876 3,542 6,608 5,943
P/E ratio 9.28 x 10.1 x 9.91 x 12.5 x 17.9 x 18.9 x
Yield 4.47% 3.88% 3.38% 3.13% 2.12% 2.57%
Capitalization / Revenue 0.62 x 0.76 x 0.83 x 0.87 x 1.01 x 1 x
EV / Revenue 0.54 x 0.7 x 0.85 x 0.76 x 0.96 x 0.95 x
EV / EBITDA 5.2 x 6.26 x 6.86 x 6.44 x 11.5 x 11.8 x
EV / FCF 4.12 x 5 x 12.5 x 8.1 x 10.4 x -5.57 x
FCF Yield 24.3% 20% 7.97% 12.4% 9.62% -17.9%
Price to Book 1.07 x 1.21 x 1.33 x 1.27 x 1.77 x 1.39 x
Nbr of stocks (in thousands) 45,090 45,090 45,090 45,090 51,001 55,515
Reference price 2 58.00 69.00 83.50 90.00 137.0 113.0
Announcement Date 6/27/18 6/13/19 3/31/20 7/12/21 6/27/22 5/29/23
1MUR in Million2MUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 4,224 4,114 4,535 4,673 6,918 6,283
EBITDA 1 440.6 460.1 565.2 549.6 573.5 505.4
EBIT 1 384.8 405.5 510.4 484.7 502.1 446.4
Operating Margin 9.11% 9.86% 11.25% 10.37% 7.26% 7.1%
Earnings before Tax (EBT) 1 382.7 410.4 494.4 456.6 502.2 441.5
Net income 1 281.9 309.1 381.8 334 390.5 317.4
Net margin 6.67% 7.51% 8.42% 7.15% 5.65% 5.05%
EPS 2 6.252 6.840 8.430 7.190 7.640 5.990
Free Cash Flow 1 555.8 575.4 308.9 437.5 635.5 -1,067
FCF margin 13.16% 13.98% 6.81% 9.36% 9.19% -16.98%
FCF Conversion (EBITDA) 126.16% 125.06% 54.65% 79.6% 110.82% -
FCF Conversion (Net income) 197.18% 186.16% 80.89% 130.99% 162.73% -
Dividend per Share 2 2.590 2.680 2.820 2.820 2.900 2.900
Announcement Date 6/27/18 6/13/19 3/31/20 7/12/21 6/27/22 5/29/23
1MUR in Million2MUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - 111 - - -
Net Cash position 1 326 232 - 516 380 330
Leverage (Debt/EBITDA) - - 0.1957 x - - -
Free Cash Flow 1 556 575 309 437 636 -1,067
ROE (net income / shareholders' equity) 11.1% 11.6% 13.5% 9.46% 9.22% 6.71%
ROA (Net income/ Total Assets) 1.72% 1.7% 2.01% 1.68% 1.52% 1.23%
Assets 1 16,386 18,224 19,043 19,830 25,656 25,714
Book Value Per Share 2 54.30 57.10 63.00 70.70 77.50 81.30
Cash Flow per Share 2 13.90 11.80 13.60 24.90 21.50 22.90
Capex 1 26.2 21 68.5 20.1 46.9 51.3
Capex / Sales 0.62% 0.51% 1.51% 0.43% 0.68% 0.82%
Announcement Date 6/27/18 6/13/19 3/31/20 7/12/21 6/27/22 5/29/23
1MUR in Million2MUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
86 MUR
Average target price
106 MUR
Spread / Average Target
+23.22%
Consensus

Annual profits - Rate of surprise