ASPEN PHARMACARE HOLDINGS LIMITED |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 220.7 ZAR | +1.98% |
|
+1.70% | +8.46% |
| Mar. 08 | Aspen Pharmacare Holdings Limited Announces Board Changes | CI |
| Mar. 05 | Aspen Pharmacare Holdings Limited Seeks Acquisitions | CI |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 45,802 | 65,412 | 73,836 | 62,047 | 81,701 | 98,204 | - | - |
| Enterprise Value (EV) 1 | 84,786 | 100,640 | 90,136 | 78,111 | 100,071 | 120,108 | 117,283 | 112,320 |
| P/E ratio | 6.38 x | 14 x | 15.4 x | 9.71 x | 15.6 x | 16.8 x | 11.7 x | 10.3 x |
| Yield | 3.14% | - | 1.62% | 2.34% | 1.86% | 1.66% | 2.07% | 2.35% |
| Capitalization / Revenue | 1.18 x | 1.69 x | 1.96 x | 1.61 x | 2.01 x | 2.2 x | 1.94 x | 1.8 x |
| EV / Revenue | 2.18 x | 2.6 x | 2.39 x | 2.02 x | 2.46 x | 2.7 x | 2.31 x | 2.06 x |
| EV / EBITDA | 7.83 x | 9.18 x | 9.06 x | 7.09 x | 9.02 x | 10.8 x | 8.39 x | 7.28 x |
| EV / FCF | 23.8 x | 18.1 x | 26.6 x | 29.2 x | 42.8 x | -192 x | 14.1 x | 9.68 x |
| FCF Yield | 4.2% | 5.53% | 3.77% | 3.43% | 2.34% | -0.52% | 7.12% | 10.3% |
| Price to Book | 0.83 x | 0.95 x | 1.13 x | 0.89 x | 0.95 x | 1.09 x | 1.02 x | 0.96 x |
| Nbr of stocks (in thousands) | 455,970 | 455,800 | 455,522 | 446,252 | 444,946 | 444,946 | - | - |
| Reference price 2 | 100.4 | 143.5 | 162.1 | 139.0 | 183.6 | 220.7 | 220.7 | 220.7 |
| Announcement Date | 9/11/19 | 9/9/20 | 9/1/21 | 8/31/22 | 8/30/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 38,872 | 38,647 | 37,766 | 38,606 | 40,709 | 44,557 | 50,721 | 54,415 |
| EBITDA 1 | 10,824 | 10,968 | 9,945 | 11,012 | 11,100 | 11,141 | 13,983 | 15,418 |
| EBIT 1 | 5,528 | 7,060 | 7,072 | 8,671 | 7,822 | 9,020 | 11,912 | 13,254 |
| Operating Margin | 14.22% | 18.27% | 18.73% | 22.46% | 19.21% | 20.24% | 23.49% | 24.36% |
| Earnings before Tax (EBT) 1 | 3,490 | 5,602 | 5,989 | 8,134 | 6,555 | 7,815 | 10,865 | 12,186 |
| Net income 1 | 7,182 | 4,664 | 4,806 | 6,488 | 5,228 | 6,228 | 8,458 | 9,724 |
| Net margin | 18.48% | 12.07% | 12.73% | 16.81% | 12.84% | 13.98% | 16.68% | 17.87% |
| EPS 2 | 15.74 | 10.22 | 10.53 | 14.32 | 11.77 | 13.13 | 18.85 | 21.44 |
| Free Cash Flow 1 | 3,560 | 5,570 | 3,394 | 2,677 | 2,339 | -627 | 8,347 | 11,609 |
| FCF margin | 9.16% | 14.41% | 8.99% | 6.93% | 5.75% | -1.41% | 16.46% | 21.33% |
| FCF Conversion (EBITDA) | 32.89% | 50.78% | 34.13% | 24.31% | 21.07% | - | 59.69% | 75.3% |
| FCF Conversion (Net income) | 49.57% | 119.43% | 70.62% | 41.26% | 44.74% | - | 98.69% | 119.39% |
| Dividend per Share 2 | 3.150 | - | 2.620 | 3.260 | 3.420 | 3.672 | 4.576 | 5.191 |
| Announcement Date | 9/11/19 | 9/9/20 | 9/1/21 | 8/31/22 | 8/30/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2021 S1 | 2022 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|
| Net sales 1 | 18,417 | - | 19,225 | - | 23,873 |
| EBITDA 1 | 5,260 | - | 5,296 | - | 6,407 |
| EBIT 1 | 3,644 | - | 4,113 | - | 6,064 |
| Operating Margin | 19.79% | - | 21.39% | - | 25.4% |
| Earnings before Tax (EBT) | 2,969 | - | 3,940 | - | - |
| Net income 1 | 2,629 | 2,549 | 3,128 | 2,314 | 4,294 |
| Net margin | 14.27% | - | 16.27% | - | 17.99% |
| EPS | - | 5.584 | 9.758 | 5.208 | - |
| Dividend per Share 2 | - | - | - | - | 4.000 |
| Announcement Date | 3/5/20 | 3/11/21 | 8/31/22 | 1/15/24 | - |
1ZAR in Million2ZAR
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 38,984 | 35,228 | 16,300 | 16,064 | 18,370 | 21,904 | 19,079 | 14,116 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.602 x | 3.212 x | 1.639 x | 1.459 x | 1.655 x | 1.966 x | 1.364 x | 0.9155 x |
| Free Cash Flow 1 | 3,560 | 5,570 | 3,394 | 2,677 | 2,339 | -627 | 8,347 | 11,609 |
| ROE (net income / shareholders' equity) | 12.4% | 10.8% | 8.87% | 9.5% | 6.65% | 7.22% | 9.17% | 9.65% |
| ROA (Net income/ Total Assets) | 5.06% | 5.23% | 4.92% | - | 4.26% | 4.99% | 6.32% | - |
| Assets 1 | 141,956 | 89,124 | 97,621 | - | 122,830 | 124,754 | 133,845 | - |
| Book Value Per Share 2 | 120.0 | 152.0 | 144.0 | 157.0 | 194.0 | 202.0 | 216.0 | 230.0 |
| Cash Flow per Share 2 | 13.10 | 18.10 | 15.00 | 11.90 | 12.40 | 26.90 | 15.70 | 20.40 |
| Capex 1 | 3,583 | 2,690 | 3,431 | 2,697 | 3,181 | 4,200 | 2,900 | - |
| Capex / Sales | 9.22% | 6.96% | 9.08% | 6.99% | 7.81% | 9.43% | 5.72% | - |
| Announcement Date | 9/11/19 | 9/9/20 | 9/1/21 | 8/31/22 | 8/30/23 | - | - | - |
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
OUTPERFORM
Number of Analysts
6
Last Close Price
220.7
ZAR
Average target price
232
ZAR
Spread / Average Target
+5.14%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +8.46% | 5.22B | |
| +19.62% | 43.34B | |
| +20.44% | 21.96B | |
| +10.86% | 14.09B | |
| +13.07% | 13.64B | |
| +37.46% | 11.43B | |
| -8.59% | 6.86B | |
| -0.05% | 6.79B | |
| -8.87% | 5.73B | |
| -4.29% | 4.71B |
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- Financials Aspen Pharmacare Holdings Limited
