Financials Standard Bank Group Limited

Equities

End-of-day quote Johannesburg S.E. Other stock markets 06:00:00 2024-05-05 pm EDT			5-day change	1st Jan Change
181.9 ^ZAR	+1.63%		+3.94%	-12.59%

Apr. 25	News Highlights : Top Global Markets News of the Day - Thursday at 7 AM ET	DJ
Apr. 25	News Highlights : Top Global Markets News of the Day - Thursday at 5 AM ET	DJ

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	269,088	202,206	222,440	276,597	345,043	301,405	-	-
Enterprise Value (EV) ¹	269,088	202,206	222,440	276,597	345,043	301,405	301,405	301,405
P/E ratio	10.6 x	16.4 x	9 x	8.01 x	7.9 x	6.77 x	6.34 x	5.78 x
Yield	5.91%	1.89%	6.22%	7.19%	-	8.35%	9.18%	10%
Capitalization / Revenue	2.44 x	1.86 x	1.96 x	2.07 x	1.94 x	1.63 x	1.54 x	1.44 x
EV / Revenue	2.44 x	1.86 x	1.96 x	2.07 x	1.94 x	1.63 x	1.54 x	1.44 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.57 x	1.07 x	1.12 x	1.26 x	-	1.16 x	1.07 x	0.99 x
Nbr of stocks (in thousands)	1,598,671	1,591,174	1,588,743	1,648,470	1,658,062	1,657,074	-	-
Reference price ²	168.3	127.1	140.0	167.8	208.1	181.9	181.9	181.9
Announcement Date	3/5/20	3/11/21	3/11/22	3/8/23	3/14/24	-	-	-

¹ZAR in Million²ZAR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	110,461	108,581	113,556	133,354	177,616	184,823	195,807	208,856
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	48,126	44,346	50,295	60,080	65,442	81,722	84,561	87,493
Operating Margin	43.57%	40.84%	44.29%	45.05%	36.84%	44.22%	43.19%	41.89%
Earnings before Tax (EBT) ¹	43,847	20,880	41,232	54,928	69,741	63,350	66,843	69,496
Net income ¹	25,443	12,358	24,865	34,637	44,211	44,562	47,890	54,749
Net margin	23.03%	11.38%	21.9%	25.97%	24.89%	24.11%	24.46%	26.21%
EPS ²	15.85	7.750	15.55	20.96	26.35	26.86	28.70	31.44
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	9.940	2.400	8.710	12.07	-	15.18	16.70	18.21
Announcement Date	3/5/20	3/11/21	3/11/22	3/8/23	3/14/24	-	-	-

¹ZAR in Million²ZAR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	16.8%	8.59%	13.5%	16.6%	-	18.2%	18.1%	18.1%
ROA (Net income/ Total Assets)	1.99%	0.66%	0.95%	1.23%	-	1.46%	1.44%	1.42%
Assets ¹	1,277,323	1,863,390	2,629,381	2,804,842	-	3,062,689	3,321,051	3,861,009
Book Value Per Share ²	107.0	119.0	125.0	134.0	-	157.0	170.0	185.0
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/5/20	3/11/21	3/11/22	3/8/23	3/14/24	-	-	-

¹ZAR in Million²ZAR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

181.9 ZAR

Average target price

216.2 ZAR

Spread / Average Target

+18.89%

	1st Jan change	Capi.
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INVEST BANK	-96.60%	32.24B