Market Closed -
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5-day change | 1st Jan Change | ||
17.22 EUR | +0.12% | +0.47% | +12.55% |
Apr. 19 | Merko Ehitus Lands EUR20 Million Contract to Build Solar Park in Latvia | MT |
Apr. 08 | AS Merko Ehitus Proposes Dividend, Payable on 21 June 2024 | CI |
Valuation
Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|---|
Capitalization 1 | 162.8 | 166 | 167.4 | 269.4 | 250.6 | 270.8 |
Enterprise Value (EV) 1 | 167 | 205 | 149 | 277.1 | 324.9 | 248.3 |
P/E ratio | 8.42 x | 10.2 x | 7.28 x | 9.24 x | 7.24 x | 5.88 x |
Yield | 10.9% | - | 10.6% | 6.57% | 7.06% | 8.5% |
Capitalization / Revenue | 0.39 x | 0.51 x | 0.53 x | 0.79 x | 0.61 x | 0.58 x |
EV / Revenue | 0.4 x | 0.63 x | 0.47 x | 0.82 x | 0.79 x | 0.53 x |
EV / EBITDA | 8.79 x | 11.2 x | 5.93 x | 8.83 x | 9.5 x | 5.69 x |
EV / FCF | 9.71 x | -10.7 x | 2.71 x | -83.7 x | -5.63 x | 2.32 x |
FCF Yield | 10.3% | -9.37% | 36.9% | -1.19% | -17.8% | 43.2% |
Price to Book | 1.24 x | 1.27 x | 1.09 x | 1.61 x | 1.36 x | 1.28 x |
Nbr of stocks (in thousands) | 17,700 | 17,700 | 17,700 | 17,700 | 17,700 | 17,700 |
Reference price 2 | 9.200 | 9.380 | 9.460 | 15.22 | 14.16 | 15.30 |
Announcement Date | 4/10/19 | 4/8/20 | 4/7/21 | 3/1/22 | 4/6/23 | 4/4/24 |
Income Statement Evolution (Annual data)
Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|---|
Net sales 1 | 418 | 326.8 | 315.9 | 339.4 | 409.6 | 466.3 |
EBITDA 1 | 19.01 | 18.34 | 25.14 | 31.37 | 34.18 | 43.63 |
EBIT 1 | 17.11 | 16.74 | 23.72 | 29.98 | 32.46 | 41.39 |
Operating Margin | 4.09% | 5.12% | 7.51% | 8.83% | 7.92% | 8.88% |
Earnings before Tax (EBT) 1 | 19.78 | 20.32 | 24.46 | 32.13 | 37.1 | 51.98 |
Net income 1 | 19.34 | 16.27 | 22.99 | 29.14 | 34.64 | 46.05 |
Net margin | 4.63% | 4.98% | 7.28% | 8.59% | 8.46% | 9.88% |
EPS 2 | 1.093 | 0.9192 | 1.299 | 1.646 | 1.957 | 2.602 |
Free Cash Flow 1 | 17.2 | -19.21 | 55.06 | -3.311 | -57.7 | 107.1 |
FCF margin | 4.12% | -5.88% | 17.43% | -0.98% | -14.09% | 22.98% |
FCF Conversion (EBITDA) | 90.48% | - | 219.01% | - | - | 245.59% |
FCF Conversion (Net income) | 88.93% | - | 239.44% | - | - | 232.68% |
Dividend per Share 2 | 1.000 | - | 1.000 | 1.000 | 1.000 | 1.300 |
Announcement Date | 4/10/19 | 4/8/20 | 4/7/21 | 3/1/22 | 4/6/23 | 4/4/24 |
Income Statement Evolution (Quarterly data)
Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q2 | 2023 S1 |
---|---|---|---|---|---|---|---|
Net sales 1 | - | 1,506 | 843.4 | 1,048 | 1,253 | 1,809 | 2,777 |
EBITDA | - | - | - | - | - | - | - |
EBIT | - | - | - | - | - | - | - |
Operating Margin | - | - | - | - | - | - | - |
Earnings before Tax (EBT) | - | - | - | - | - | - | - |
Net income | 74.29 | 185 | 37.05 | 49.76 | 111.8 | - | - |
Net margin | - | 12.29% | 4.39% | 4.75% | 8.93% | - | - |
EPS 2 | 4.177 | - | - | - | - | 9.837 | 14.05 |
Dividend per Share | - | - | - | - | - | - | - |
Announcement Date | 11/4/21 | 2/10/22 | 5/5/22 | 8/4/22 | 11/3/22 | 8/3/23 | 8/3/23 |
Balance Sheet Analysis
Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|---|
Net Debt 1 | 4.19 | 39 | - | 7.71 | 74.3 | - |
Net Cash position 1 | - | - | 18.4 | - | - | 22.5 |
Leverage (Debt/EBITDA) | 0.2203 x | 2.126 x | - | 0.2457 x | 2.172 x | - |
Free Cash Flow 1 | 17.2 | -19.2 | 55.1 | -3.31 | -57.7 | 107 |
ROE (net income / shareholders' equity) | 14.3% | 12.2% | 15.4% | 17.9% | 19.4% | 23.2% |
ROA (Net income/ Total Assets) | 3.91% | 3.79% | 5.5% | 6.45% | 5.7% | 6.37% |
Assets 1 | 494.4 | 428.9 | 417.9 | 452.1 | 607.7 | 723.3 |
Book Value Per Share 2 | 7.440 | 7.360 | 8.660 | 9.450 | 10.40 | 12.00 |
Cash Flow per Share 2 | 2.260 | 1.400 | 2.680 | 2.540 | 1.000 | 4.370 |
Capex 1 | 0.71 | 2.2 | 4.32 | 2.4 | 1.12 | 1.2 |
Capex / Sales | 0.17% | 0.67% | 1.37% | 0.71% | 0.27% | 0.26% |
Announcement Date | 4/10/19 | 4/8/20 | 4/7/21 | 3/1/22 | 4/6/23 | 4/4/24 |
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Quarterly revenue - Rate of surprise
1st Jan change | Capi. | |
---|---|---|
+12.55% | 325M | |
-2.29% | 67.67B | |
+3.14% | 59.37B | |
+21.25% | 38.3B | |
+11.23% | 30.73B | |
+2.06% | 26.35B | |
+22.89% | 22.01B | |
+15.06% | 19.47B | |
+24.71% | 17.6B | |
+64.33% | 16.64B |
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- Financials AS Merko Ehitus