Financials National Atomic Company Kazatomprom

Equities

KZAP

KZ1C00001619

Uranium

End-of-day quote Kazakhstan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
18,120 KZT +0.18% Intraday chart for National Atomic Company Kazatomprom +0.42% -1.84%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,353,323 1,854,400 4,380,533 3,338,957 4,787,723 4,699,542 - -
Enterprise Value (EV) 1 1,416,120 1,839,625 4,260,154 3,306,935 4,787,723 4,380,094 4,213,565 3,945,411
P/E ratio 7.12 x 10.1 x 31.1 x 9.59 x 11.4 x 7.99 x 4.75 x 5.07 x
Yield 5.9% 8.09% 3.43% 6.81% - 7.75% 12% -
Capitalization / Revenue 2.69 x 3.16 x 6.34 x 3.34 x 3.34 x 2.58 x 2.28 x 2.31 x
EV / Revenue 2.82 x 3.13 x 6.17 x 3.3 x 3.34 x 2.4 x 2.04 x 1.94 x
EV / EBITDA 6.52 x 6.23 x 15.4 x 6.68 x 7.49 x 5.49 x 4.89 x 4.48 x
EV / FCF 12.9 x 14.6 x 59.6 x 15.8 x - 7.16 x 6.08 x 4.61 x
FCF Yield 7.73% 6.86% 1.68% 6.33% - 14% 16.4% 21.7%
Price to Book - - - - - - - -
Nbr of stocks (in thousands) 259,357 259,357 259,357 259,357 259,357 259,357 - -
Reference price 2 5,218 7,150 16,890 12,874 18,460 18,120 18,120 18,120
Announcement Date 3/5/20 3/16/21 3/16/22 3/17/23 3/15/24 - - -
1KZT in Million2KZT
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 502,269 587,457 691,011 1,001,171 1,435,000 1,821,946 2,062,494 2,038,617
EBITDA 1 217,300 295,465 275,800 495,400 639,000 797,926 861,241 881,285
EBIT 1 155,473 223,899 238,200 456,000 543,838 839,463 877,202 875,546
Operating Margin 30.95% 38.11% 34.47% 45.55% 37.9% 46.08% 42.53% 42.95%
Earnings before Tax (EBT) 1 247,255 285,144 281,644 583,705 - 902,609 1,144,149 1,102,352
Net income 1 213,700 183,541 220,000 473,000 580,000 497,867 731,176 702,248
Net margin 42.55% 31.24% 31.84% 47.24% 40.42% 27.33% 35.45% 34.45%
EPS 2 732.6 708.0 543.0 1,342 1,616 2,268 3,812 3,577
Free Cash Flow 1 109,514 126,182 71,435 209,382 - 611,944 692,691 856,670
FCF margin 21.8% 21.48% 10.34% 20.91% - 33.59% 33.59% 42.02%
FCF Conversion (EBITDA) 50.4% 42.71% 25.9% 42.27% - 76.69% 80.43% 97.21%
FCF Conversion (Net income) 51.25% 68.75% 32.47% 44.27% - 122.91% 94.74% 121.99%
Dividend per Share 2 308.0 578.7 579.0 877.0 - 1,405 2,167 -
Announcement Date 3/5/20 3/16/21 3/16/22 3/17/23 3/15/24 - - -
1KZT in Million2KZT
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2
Net sales 1 153,139 434,318 235,501 95,810 359,700 - 493,716 507,455 618,744 -
EBITDA 1 84,000 211,000 96,694 36,810 142,296 179,106 182,825 312,575 278,257 360,743
EBIT 47,495 - - - - - - - - -
Operating Margin 31.01% - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - -
Net income 66,000 - - - - - - - - -
Net margin 43.1% - - - - - - - - -
EPS - - - - - - 467.0 - - -
Dividend per Share - - - - - - - - - -
Announcement Date 8/27/20 3/16/21 8/26/21 11/19/21 3/16/22 3/16/22 8/19/22 3/17/23 8/25/23 3/15/24
1KZT in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 62,797 - - - - - - -
Net Cash position 1 - 14,775 120,379 32,022 - 319,448 485,977 754,131
Leverage (Debt/EBITDA) 0.289 x - - - - - - -
Free Cash Flow 1 109,514 126,182 71,435 209,382 - 611,944 692,691 856,670
ROE (net income / shareholders' equity) 15.2% 17.8% 19.4% 27.8% - 29.6% 29.8% 35%
ROA (Net income/ Total Assets) 9% 10.9% 12.1% 16.7% - 14.2% 15.2% 16.6%
Assets 1 2,373,284 1,681,702 1,820,392 2,836,276 - 3,507,343 4,818,295 4,228,120
Book Value Per Share - - - - - - - -
Cash Flow per Share 2 615.0 486.0 458.0 1,094 - 1,946 2,922 -
Capex 1 50,015 35,411 47,294 74,477 - 136,851 128,299 108,465
Capex / Sales 9.96% 6.03% 6.84% 7.44% - 7.51% 6.22% 5.32%
Announcement Date 3/5/20 3/16/21 3/16/22 3/17/23 3/15/24 - - -
1KZT in Million2KZT
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
18,120 KZT
Average target price
21,800 KZT
Spread / Average Target
+20.31%
Consensus

Quarterly revenue - Rate of surprise

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