Financials Sibanye Stillwater Limited

Equities

SSW

ZAE000259701

Non-Gold Precious Metals & Minerals

End-of-day quote Johannesburg Stock Exchange 06:00:00 2023-12-05 pm EST Intraday chart for Sibanye Stillwater Limited 5-day change 1st Jan Change
21.28 ZAR +2.06% +2.41% -52.42%

Valuation

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 22 712 95 827 175 414 137 893 126 574 60 234 - -
Enterprise Value (EV) 1 44 668 113 945 173 884 128 180 123 545 67 392 69 641 68 385
P/E ratio -9,11x 1 795x 5,69x 4,35x 6,88x 7,88x 5,31x 5,73x
Yield - - 6,18% 9,76% 5,81% 2,98% 5,99% 5,75%
Capitalization / Revenue 0,45x 1,31x 1,38x 0,80x 0,92x 0,53x 0,50x 0,46x
EV / Revenue 0,88x 1,56x 1,36x 0,74x 0,89x 0,59x 0,58x 0,52x
EV / EBITDA 5,34x 7,62x 3,56x 1,87x 3,01x 3,01x 2,68x 2,48x
EV / FCF 8,73x 64,8x 9,92x 6,57x 13,0x -12,4x -11,6x -184x
FCF Yield 11,5% 1,54% 10,1% 15,2% 7,70% -8,09% -8,59% -0,54%
Price to Book 0,95x 3,23x 2,56x 1,73x 1,44x 0,61x 0,56x 0,52x
Nbr of stocks (in thousands) 2 266 687 2 670 029 2 923 571 2 808 406 2 830 370 2 830 567 - -
Reference price 2 10,0 35,9 60,0 49,1 44,7 21,3 21,3 21,3
Announcement Date 2/21/19 2/19/20 2/18/21 3/3/22 2/28/23 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 50 656 72 925 127 392 172 194 138 288 114 451 120 935 131 221
EBITDA 1 8 369 14 956 48 873 68 606 41 111 22 415 25 955 27 542
EBIT 1 1 756 7 742 41 280 59 930 33 806 12 832 16 116 16 147
Operating Margin 3,47% 10,6% 32,4% 34,8% 24,4% 11,2% 13,3% 12,3%
Earnings before Tax (EBT) 1 -1 437 -1 300 35 480 47 557 27 904 11 947 14 872 13 124
Net income 1 -2 500 62,1 29 312 33 054 18 396 7 574 10 725 11 796
Net margin -4,93% 0,09% 23,0% 19,2% 13,3% 6,62% 8,87% 8,99%
EPS 2 -1,10 0,02 10,6 11,3 6,50 2,70 4,01 3,71
Free Cash Flow 1 5 117 1 758 17 534 19 516 9 509 -5 453 -5 982 -372
FCF margin 10,1% 2,41% 13,8% 11,3% 6,88% -4,76% -4,95% -0,28%
FCF Conversion (EBITDA) 61,1% 11,8% 35,9% 28,4% 23,1% - - -
FCF Conversion (Net income) - 2 831% 59,8% 59,0% 51,7% - - -
Dividend per Share 2 - - 3,71 4,79 2,60 0,63 1,27 1,22
Announcement Date 2/21/19 2/19/20 2/18/21 3/3/22 2/28/23 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December 2018 S2 2019 S1 2022 S1 2022 S2 2023 S1
Net sales 1 26 746 23 535 70 379 67 909 60 568
EBITDA 1 - 2 019 22 561 18 550 14 147
EBIT 1 - - 18 567 - 9 373
Operating Margin - - 26,4% - 15,5%
Earnings before Tax (EBT) - - - - -
Net income 1 - -265 12 016 - 7 423
Net margin - -1,13% 17,1% - 12,3%
EPS 2 - -0,11 4,23 - 2,62
Dividend per Share 2 - - 1,38 - 0,53
Announcement Date 2/21/19 8/29/19 8/25/22 2/28/23 8/29/23
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 21 956 18 117 - - - 7 157 9 407 8 150
Net Cash position 1 - - 1 530 9 713 3 029 - - -
Leverage (Debt/EBITDA) 2,62x 1,21x - - - 0,32x 0,36x 0,30x
Free Cash Flow 1 5 117 1 758 17 534 19 516 9 509 -5 453 -5 982 -372
ROE (net income / shareholders' equity) -10,5% 8,83% 59,7% 52,4% 25,1% 7,28% 9,33% 8,43%
Shareholders' equity 1 23 884 703 49 075 63 084 73 289 104 076 114 943 139 885
ROA (Net income/ Total Assets) - 2,54% 24,9% 27,1% 13,2% 4,20% 6,80% 7,60%
Assets 1 - 2 447 117 588 122 029 139 856 180 337 157 724 155 217
Book Value Per Share 2 10,5 11,1 23,4 28,5 31,1 34,6 38,1 40,8
Cash Flow per Share 2 6,73 5,17 13,2 10,2 5,35 7,65 5,92 6,12
Capex 1 7 081 7 706 9 616 12 740 15 899 20 871 24 355 14 926
Capex / Sales 14,0% 10,6% 7,55% 7,40% 11,5% 18,2% 20,1% 11,4%
Announcement Date 2/21/19 2/19/20 2/18/21 3/3/22 2/28/23 - - -
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
21.28ZAR
Average target price
28.96ZAR
Spread / Average Target
+36.10%
Consensus
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