Financials Sygnia Limited

Equities

SYG

ZAE000208815

Investment Management & Fund Operators

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
20.2 ZAR +0.80% Intraday chart for Sygnia Limited +3.32% +11.29%

Valuation

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Capitalization 1 1,404 1,467 2,137 2,562 2,478 2,717
Enterprise Value (EV) 1 1,396 1,477 2,119 2,299 2,279 1,803
P/E ratio 13.2 x 11 x 10 x 10.3 x 8.85 x 9.25 x
Yield 6.62% 6.35% 7.64% 7.89% 12.8% 11.7%
Capitalization / Revenue 3.33 x 2.89 x 3.23 x 3.47 x 3.06 x 3.22 x
EV / Revenue 3.31 x 2.91 x 3.21 x 3.12 x 2.82 x 2.14 x
EV / EBITDA 9.14 x 8.09 x 7.3 x 6.85 x 5.86 x 4.63 x
EV / FCF -37.9 x -9.08 x 7.64 x 6.76 x 12.1 x 1.83 x
FCF Yield -2.64% -11% 13.1% 14.8% 8.27% 54.6%
Price to Book 2.25 x 2.25 x 3.04 x 3.28 x 2.95 x 3.31 x
Nbr of stocks (in thousands) 154,956 155,189 148,402 149,633 150,439 150,927
Reference price 2 9.060 9.450 14.40 17.12 16.47 18.00
Announcement Date 11/30/18 12/5/19 12/8/20 12/7/21 12/5/22 12/4/23
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net sales 1 421.9 508.1 661 737.2 808.9 843.9
EBITDA 1 152.8 182.5 290.1 335.5 389.3 389.7
EBIT 1 143 171.7 279.1 325.3 380 381.1
Operating Margin 33.9% 33.79% 42.23% 44.13% 46.98% 45.16%
Earnings before Tax (EBT) 1 148.3 181.9 297.6 336.6 402.3 419.9
Net income 1 101 125.9 206.1 240.4 286.7 299.8
Net margin 23.93% 24.79% 31.18% 32.62% 35.45% 35.53%
EPS 2 0.6842 0.8580 1.437 1.661 1.861 1.945
Free Cash Flow 1 -36.82 -162.7 277.4 340 188.4 984.2
FCF margin -8.73% -32.02% 41.96% 46.12% 23.3% 116.63%
FCF Conversion (EBITDA) - - 95.61% 101.35% 48.41% 252.58%
FCF Conversion (Net income) - - 134.59% 141.41% 65.72% 328.28%
Dividend per Share 2 0.6000 0.6000 1.100 1.350 2.100 2.100
Announcement Date 11/30/18 12/5/19 12/8/20 12/7/21 12/5/22 12/4/23
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net Debt 1 - 10.4 - - - -
Net Cash position 1 7.45 - 18.3 263 198 913
Leverage (Debt/EBITDA) - 0.057 x - - - -
Free Cash Flow 1 -36.8 -163 277 340 188 984
ROE (net income / shareholders' equity) 16.4% 19.9% 30.7% 32.5% 35.4% 36.1%
ROA (Net income/ Total Assets) 0.14% 0.12% 0.17% 0.17% 0.19% 0.18%
Assets 1 71,356 102,558 121,582 139,874 154,654 170,442
Book Value Per Share 2 4.030 4.200 4.740 5.220 5.590 5.440
Cash Flow per Share 2 1.020 1.150 1.750 3.080 2.380 7.180
Capex 1 7.34 12.8 2.55 2.72 2.61 2.8
Capex / Sales 1.74% 2.53% 0.39% 0.37% 0.32% 0.33%
Announcement Date 11/30/18 12/5/19 12/8/20 12/7/21 12/5/22 12/4/23
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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