Financials JSE Limited

Equities

JSE

ZAE000079711

Financial & Commodity Market Operators

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
83.73 ZAR -0.29% Intraday chart for JSE Limited +0.25% -9.42%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 10,222 9,621 9,578 9,277 7,906 7,161 - -
Enterprise Value (EV) 1 7,974 7,162 7,438 9,277 7,906 7,161 7,161 7,161
P/E ratio 14.6 x 12 x - 12 x - 7.92 x 7.93 x 7.21 x
Yield 5.77% 6.44% 6.73% - 8.48% 9.54% 10.6% 11.3%
Capitalization / Revenue 4.67 x 3.93 x 3.81 x - 2.78 x 2.36 x 2.17 x 2.02 x
EV / Revenue 4.67 x 3.93 x 3.81 x - 2.78 x 2.36 x 2.17 x 2.02 x
EV / EBITDA 11,492,755 x 9,076,625 x 9,079,111 x - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.57 x 2.37 x 2.19 x - - - - -
Nbr of stocks (in thousands) 85,522 85,522 85,522 85,522 85,522 85,522 - -
Reference price 2 119.5 112.5 112.0 108.5 92.44 83.73 83.73 83.73
Announcement Date 2/24/20 2/25/21 3/1/22 3/8/23 3/18/24 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,187 2,446 2,517 - 2,844 3,030 3,301 3,541
EBITDA 889.4 1,060 1,055 - - - - -
EBIT 1 687 811 798 - 805 867.5 997.5 1,112
Operating Margin 31.41% 33.15% 31.7% - 28.31% 28.63% 30.22% 31.39%
Earnings before Tax (EBT) 948.2 1,065 - - - - - -
Net income 1 695 778.4 722 748.6 - 877 876 964
Net margin 31.78% 31.82% 28.68% - - 28.94% 26.54% 27.22%
EPS 2 8.205 9.401 - 9.011 - 10.57 10.56 11.62
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 6.900 7.250 7.540 - 7.840 7.990 8.910 9.435
Announcement Date 2/24/20 2/25/21 3/1/22 3/8/23 3/18/24 - - -
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 2,248 2,459 2,140 - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 17.5% 19.3% 17.3% - 19.4% 18.1% 20.9% 21.7%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 46.50 47.40 51.00 - - - - -
Cash Flow per Share - - - - - - - -
Capex 1 105 - - - - 51 54 57
Capex / Sales 4.8% - - - - 1.68% 1.64% 1.61%
Announcement Date 2/24/20 2/25/21 3/1/22 3/8/23 3/18/24 - - -
1ZAR in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
83.73 ZAR
Average target price
55.11 ZAR
Spread / Average Target
-34.18%
Consensus

Annual profits - Rate of surprise

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