THE SPAR GROUP LTD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 96.76 ZAR | +4.32% |
|
+5.14% | -17.93% |
| Apr. 15 | SPAR Group to Withdraw from Polish Market | CI |
| Apr. 03 | SPAR Group to Repurchase Up to 2.5 Million Shares | MT |
Valuation
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 36,779 | 36,503 | 37,813 | 27,602 | 22,374 | 18,634 | - | - |
| Enterprise Value (EV) 1 | 42,011 | 42,836 | 46,233 | 52,322 | 47,449 | 31,442 | 30,486 | 29,009 |
| P/E ratio | 17.1 x | 17.6 x | 16.7 x | 12.8 x | 55.7 x | 10.6 x | 8.48 x | 7.23 x |
| Yield | 4.19% | 4.56% | 4.15% | 2.79% | - | - | 2.66% | 2.71% |
| Capitalization / Revenue | 0.34 x | 0.29 x | 0.3 x | 0.2 x | 0.15 x | 0.12 x | 0.11 x | 0.1 x |
| EV / Revenue | 0.38 x | 0.34 x | 0.36 x | 0.39 x | 0.32 x | 0.2 x | 0.18 x | 0.16 x |
| EV / EBITDA | 11.3 x | 7.91 x | 8.63 x | 12.6 x | 11.6 x | 6.17 x | 5.28 x | 4.63 x |
| EV / FCF | 2,414 x | 13.5 x | 33.3 x | - | - | 7.87 x | 6.39 x | 5.39 x |
| FCF Yield | 0.04% | 7.4% | 3% | - | - | 12.7% | 15.6% | 18.5% |
| Price to Book | 4.92 x | 4.62 x | 4.61 x | 2.82 x | 2.19 x | 1.55 x | 1.32 x | 1.13 x |
| Nbr of stocks (in thousands) | 192,549 | 192,477 | 192,509 | 192,535 | 192,412 | 192,585 | - | - |
| Reference price 2 | 191.0 | 189.6 | 196.4 | 143.4 | 116.3 | 96.76 | 96.76 | 96.76 |
| Announcement Date | 11/13/19 | 11/18/20 | 11/17/21 | 11/16/22 | 11/29/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 109,477 | 124,277 | 127,940 | 135,609 | 149,324 | 158,389 | 168,049 | 177,915 |
| EBITDA 1 | 3,734 | 5,419 | 5,358 | 4,140 | 4,083 | 5,092 | 5,779 | 6,264 |
| EBIT 1 | 2,979 | 3,443 | 3,393 | 3,429 | 1,817 | 3,244 | 3,771 | 4,208 |
| Operating Margin | 2.72% | 2.77% | 2.65% | 2.53% | 1.22% | 2.05% | 2.24% | 2.37% |
| Earnings before Tax (EBT) 1 | 2,782 | 2,696 | 3,017 | 3,042 | 979.2 | 2,333 | 2,942 | 3,498 |
| Net income 1 | 2,163 | 2,075 | 2,266 | 2,152 | 401.3 | 1,745 | 2,246 | 2,689 |
| Net margin | 1.98% | 1.67% | 1.77% | 1.59% | 0.27% | 1.1% | 1.34% | 1.51% |
| EPS 2 | 11.19 | 10.75 | 11.74 | 11.18 | 2.086 | 9.164 | 11.41 | 13.38 |
| Free Cash Flow 1 | 17.4 | 3,172 | 1,389 | - | - | 3,993 | 4,769 | 5,377 |
| FCF margin | 0.02% | 2.55% | 1.09% | - | - | 2.52% | 2.84% | 3.02% |
| FCF Conversion (EBITDA) | 0.47% | 58.53% | 25.92% | - | - | 78.41% | 82.53% | 85.84% |
| FCF Conversion (Net income) | 0.8% | 152.88% | 61.3% | - | - | 228.88% | 212.31% | 200% |
| Dividend per Share 2 | 8.000 | 8.650 | 8.160 | 4.000 | - | - | 2.574 | 2.619 |
| Announcement Date | 11/13/19 | 11/18/20 | 11/17/21 | 11/16/22 | 11/29/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: September | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 |
|---|---|---|---|---|---|---|
| Net sales | 55,204 | 59,749 | 64,528 | 64,240 | 63,700 | - |
| EBITDA | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - |
| Net income 1 | - | - | - | - | - | 1,165 |
| Net margin | - | - | - | - | - | - |
| EPS 2 | 6.021 | 3.885 | 6.865 | 6.143 | 5.595 | 6.041 |
| Dividend per Share | - | - | - | - | - | - |
| Announcement Date | 11/13/19 | 5/21/20 | 11/18/20 | 5/25/21 | 11/17/21 | 6/8/22 |
1ZAR in Million2ZAR
Estimates
Balance Sheet Analysis
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,232 | 6,333 | 8,421 | 24,720 | 25,075 | 12,807 | 11,852 | 10,374 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.401 x | 1.169 x | 1.572 x | 5.971 x | 6.141 x | 2.515 x | 2.051 x | 1.656 x |
| Free Cash Flow 1 | 17.4 | 3,172 | 1,389 | - | - | 3,993 | 4,769 | 5,377 |
| ROE (net income / shareholders' equity) | 29.7% | 27% | 28% | 24.1% | 11.7% | 14.7% | 15.7% | 15.8% |
| ROA (Net income/ Total Assets) | 6.63% | 5.03% | 4.32% | 3.83% | 1.97% | 2.6% | 3.3% | 3.6% |
| Assets 1 | 32,654 | 41,232 | 52,402 | 56,188 | 20,413 | 67,098 | 68,068 | 74,682 |
| Book Value Per Share 2 | 38.80 | 41.00 | 42.60 | 50.80 | 53.00 | 62.50 | 73.30 | 85.50 |
| Cash Flow per Share 2 | 5.250 | 23.20 | 25.30 | 10.60 | 22.80 | 14.40 | 18.20 | 24.40 |
| Capex 1 | 1,109 | 1,298 | 1,442 | 1,783 | 2,034 | 2,176 | 2,118 | 2,005 |
| Capex / Sales | 1.01% | 1.04% | 1.13% | 1.32% | 1.36% | 1.37% | 1.26% | 1.13% |
| Announcement Date | 11/13/19 | 11/18/20 | 11/17/21 | 11/16/22 | 11/29/23 | - | - | - |
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
Sell
Buy
Mean consensus
HOLD
Number of Analysts
6
Last Close Price
96.76
ZAR
Average target price
118.3
ZAR
Spread / Average Target
+22.30%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -17.93% | 1B | |
| +11.93% | 474B | |
| +19.82% | 39.53B | |
| -0.14% | 36.45B | |
| +19.15% | 33.93B | |
| +8.63% | 28.93B | |
| +3.82% | 26.11B | |
| -18.01% | 25.24B | |
| +2.60% | 17.75B | |
| +11.09% | 17.76B |
- Stock Market
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- SPP Stock
- Financials The SPAR Group Ltd
