Company Valuation: Netcare Limited

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 21,636 18,344 17,968 19,232 17,307 21,115 - -
Change - -15.22% -2.05% 7.03% -10.01% 22.01% - -
Enterprise Value (EV) 1 31,059 27,703 27,988 30,079 28,383 32,440 32,094 31,504
Change - -10.81% 1.03% 7.47% -5.64% 14.29% -1.07% -1.84%
P/E 29.8x 19.1x 14.4x 14.2x 10.7x 11.6x 10.2x 9.09x
PBR 2.18x 1.79x 1.6x 1.76x 1.56x 2x 1.84x 1.63x
PEG - 0.6x 0.5x 0.9x 0.5x 0.7x 0.8x 0.7x
Capitalization / Revenue 1.02x 0.85x 0.76x 0.76x 0.66x 0.77x 0.73x 0.7x
EV / Revenue 1.47x 1.28x 1.18x 1.19x 1.08x 1.18x 1.11x 1.05x
EV / EBITDA 9.57x 7.95x 7.01x 6.7x 5.76x 6.2x 5.8x 5.4x
EV / EBIT 15x 12.1x 10.3x 9.52x 7.94x 8.46x 7.81x 7.15x
EV / FCF 26.5x 56.8x 75x 85.9x 34.7x 23.9x 15.8x 14.4x
FCF Yield 3.78% 1.76% 1.33% 1.16% 2.88% 4.18% 6.31% 6.97%
Dividend per Share 2 0.34 0.5 0.65 0.7 0.85 0.9742 1.097 1.221
Rate of return 2.1% 3.64% 4.81% 4.54% 5.99% 5.43% 6.11% 6.81%
EPS 2 0.543 0.717 0.935 1.089 1.329 1.55 1.754 1.974
Distribution rate 62.6% 69.7% 69.5% 64.3% 64% 62.9% 62.5% 61.9%
Net sales 1 21,200 21,636 23,699 25,202 26,344 27,564 28,841 30,132
EBITDA 1 3,244 3,485 3,990 4,491 4,928 5,231 5,530 5,833
EBIT 1 2,076 2,282 2,716 3,159 3,575 3,833 4,108 4,404
Net income 1 769 1,013 1,321 1,436 1,681 1,958 2,164 2,464
Net Debt 1 9,423 9,359 10,020 10,847 11,076 11,324 10,979 10,389
Reference price 2 16.20 13.72 13.50 15.41 14.20 17.94 17.94 17.94
Nbr of stocks (in thousands) 1,335,547 1,337,000 1,331,000 1,248,047 1,218,789 1,177,000 - -
Announcement Date 11/22/21 11/21/22 11/21/23 11/22/24 11/24/25 - - -
1ZAR in Million2ZAR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.58x1.18x6.19x5.41% 1.28B
15.74x0.44x9.56x2.7% 125B
12.42x1.65x8.15x0.83% 83.23B
11.84x1.38x8.37x2.87% 25.59B
20.24x2.24x11.3x1.65% 21.59B
29.76x5.44x22.82x2.36% 20.42B
6.85x1.15x5.41x-.--% 14.86B
14.96x1.41x7.19x4.69% 14.38B
14.18x1.72x8.23x0.8% 13.35B
13.35x1.02x5.68x3.41% 12.54B
Average 15.09x 1.76x 9.29x 2.47% 33.27B
Weighted average by Cap. 15.16x 1.39x 9.54x 2.08%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
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  3. NTC Stock
  4. Valuation Netcare Limited
-40%: Exceptional extension
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