Financials Servet Gayrimenkul Yatirim Ortakligi

Equities

SRVGY

TRESRGY00010

Commercial REITs

Market Closed - Borsa Istanbul 11:09:36 2024-04-26 am EDT 5-day change 1st Jan Change
316.5 TRY +1.61% Intraday chart for Servet Gayrimenkul Yatirim Ortakligi +1.77% +2.51%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 158.1 244.4 442 4,077 4,696 8,330
Enterprise Value (EV) 1 352.8 476.7 708.4 4,404 5,028 8,856
P/E ratio 2.25 x 4.98 x 8.44 x 4.51 x 6.98 x 2.28 x
Yield - - - - - -
Capitalization / Revenue 2.05 x 2.43 x 4.6 x 3.12 x 11.3 x 9.04 x
EV / Revenue 4.58 x 4.74 x 7.37 x 3.37 x 12.1 x 9.61 x
EV / EBITDA 8.54 x 9.71 x 20.1 x 4.09 x 34.9 x 15.8 x
EV / FCF 61.9 x 17.1 x 22 x -10.3 x 2.95 x -155 x
FCF Yield 1.62% 5.84% 4.54% -9.69% 33.9% -0.64%
Price to Book 0.4 x 0.55 x 0.81 x 2.55 x 1.66 x 1.13 x
Nbr of stocks (in thousands) 52,000 52,000 52,000 52,000 52,000 52,000
Reference price 2 3.040 4.700 8.500 78.40 90.30 160.2
Announcement Date 3/12/18 3/11/19 3/10/20 3/11/21 3/14/22 3/13/23
1TRY in Million2TRY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 77.1 100.5 96.13 1,307 414.2 921.3
EBITDA 1 41.33 49.11 35.31 1,077 144.3 562.2
EBIT 1 40.92 48.83 35.27 1,077 144.2 561.4
Operating Margin 53.07% 48.59% 36.69% 82.42% 34.81% 60.94%
Earnings before Tax (EBT) 1 77.16 67.9 56.52 1,149 898.8 4,019
Net income 1 70.34 49.05 52.36 903.6 672.4 3,652
Net margin 91.23% 48.8% 54.46% 69.16% 162.31% 396.43%
EPS 2 1.353 0.9432 1.007 17.38 12.93 70.24
Free Cash Flow 1 5.704 27.82 32.17 -426.5 1,704 -56.97
FCF margin 7.4% 27.68% 33.46% -32.65% 411.3% -6.18%
FCF Conversion (EBITDA) 13.8% 56.65% 91.09% - 1,180.99% -
FCF Conversion (Net income) 8.11% 56.72% 61.44% - 253.4% -
Dividend per Share - - - - - -
Announcement Date 3/12/18 3/11/19 3/10/20 3/11/21 3/14/22 3/13/23
1TRY in Million2TRY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 195 232 266 327 333 525
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.712 x 4.73 x 7.544 x 0.3037 x 2.306 x 0.9345 x
Free Cash Flow 1 5.7 27.8 32.2 -427 1,704 -57
ROE (net income / shareholders' equity) 19.9% 12.3% 10% 85.9% 29.4% 69.3%
ROA (Net income/ Total Assets) 3.75% 3.49% 2.09% 35.8% 2.29% 4.61%
Assets 1 1,875 1,405 2,510 2,527 29,384 79,309
Book Value Per Share 2 7.530 8.610 10.50 30.80 54.40 141.0
Cash Flow per Share 2 0.4500 0.0800 0.1900 0.7000 10.40 0.1400
Capex 1 0.01 0.08 0.04 59.7 - 1.63
Capex / Sales 0.01% 0.08% 0.05% 4.57% - 0.18%
Announcement Date 3/12/18 3/11/19 3/10/20 3/11/21 3/14/22 3/13/23
1TRY in Million2TRY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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