BWP TRUST |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3.52 AUD | +1.73% |
|
0.00% | -0.28% |
| Apr. 25 | BWP Trust Entity Extends Period for Newmark Property Takeover Offer | MT |
| Apr. 18 | BWP Trust Fulfills, Waives Conditions on Takeover Bid for Newmark Property | MT |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,364 | 2,460 | 2,737 | 2,499 | 2,332 | 2,401 | - | - |
| Enterprise Value (EV) 1 | 2,759 | 2,902 | 3,178 | 2,943 | 2,783 | 3,078 | 3,090 | 3,099 |
| P/E ratio | 14 x | 11.7 x | 10.4 x | 5.14 x | 63.6 x | 17.9 x | 16.1 x | 15.6 x |
| Yield | 5.35% | 4.78% | 4.29% | 4.7% | 5.04% | 5.26% | 5.37% | 5.46% |
| Capitalization / Revenue | 15.1 x | 15.8 x | 18 x | 16.3 x | 14.7 x | 14.5 x | 12.9 x | 12.5 x |
| EV / Revenue | 17.7 x | 18.6 x | 20.9 x | 19.2 x | 17.6 x | 18.5 x | 16.6 x | 16.2 x |
| EV / EBITDA | 20.4 x | 21.9 x | 24.6 x | 22.9 x | 21.5 x | 22.4 x | 20.3 x | 19.7 x |
| EV / FCF | 29.3 x | 36.3 x | 27.7 x | 25.5 x | 25.4 x | 56 x | -6.02 x | 344 x |
| FCF Yield | 3.41% | 2.76% | 3.61% | 3.92% | 3.94% | 1.79% | -16.6% | 0.29% |
| Price to Book | 1.26 x | 1.25 x | 1.29 x | 1.01 x | 0.97 x | 0.89 x | 0.88 x | 0.85 x |
| Nbr of stocks (in thousands) | 642,384 | 642,384 | 642,384 | 642,384 | 642,384 | 694,035 | - | - |
| Reference price 2 | 3.680 | 3.830 | 4.260 | 3.890 | 3.630 | 3.460 | 3.460 | 3.460 |
| Announcement Date | 8/5/19 | 8/3/20 | 8/3/21 | 8/2/22 | 8/1/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 156.3 | 155.8 | 152.2 | 153.3 | 158.2 | 166.1 | 185.7 | 191.4 |
| EBITDA 1 | 135.5 | 132.6 | 128.9 | 128.5 | 129.4 | 137.7 | 152.6 | 157.4 |
| EBIT 1 | 135.5 | 132.6 | 128.9 | 128.5 | 129.4 | 138.1 | 154.7 | 159.9 |
| Operating Margin | 86.73% | 85.11% | 84.7% | 83.83% | 81.82% | 83.17% | 83.33% | 83.54% |
| Earnings before Tax (EBT) 1 | 169.4 | 117.5 | 263.2 | 486.6 | 36.69 | 116.8 | 133.8 | 138.6 |
| Net income 1 | 169.4 | 210.6 | 263.2 | 486.6 | 36.69 | 124.7 | 143.4 | 148.5 |
| Net margin | 108.39% | 135.17% | 172.86% | 317.51% | 23.19% | 75.12% | 77.21% | 77.6% |
| EPS 2 | 0.2637 | 0.3278 | 0.4099 | 0.7575 | 0.0571 | 0.1937 | 0.2154 | 0.2218 |
| Free Cash Flow 1 | 94.14 | 80 | 114.9 | 115.4 | 109.6 | 55 | -513 | 9 |
| FCF margin | 60.24% | 51.35% | 75.46% | 75.28% | 69.28% | 33.12% | -276.24% | 4.7% |
| FCF Conversion (EBITDA) | 69.46% | 60.33% | 89.1% | 89.81% | 84.67% | 39.94% | - | 5.72% |
| FCF Conversion (Net income) | 55.58% | 37.99% | 43.66% | 23.71% | 298.69% | 44.09% | - | 6.06% |
| Dividend per Share 2 | 0.1967 | 0.1829 | 0.1829 | 0.1829 | 0.1829 | 0.1820 | 0.1858 | 0.1891 |
| Announcement Date | 8/5/19 | 8/3/20 | 8/3/21 | 8/2/22 | 8/1/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 77.26 | 76.25 | 79.5 | 76.1 | - | - | 78.62 | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | 348.3 | 138.4 | - | -74.61 | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | 0.5422 | 0.2154 | - | -0.1162 | - | - | - |
| Dividend per Share 1 | 0.1074 | 0.0902 | 0.0927 | 0.0902 | 0.0902 | 0.0927 | 0.0902 | 0.0927 | 0.0902 | 0.0900 | 0.0900 |
| Announcement Date | 8/5/19 | 2/3/20 | 8/3/20 | 2/2/21 | 2/9/22 | 8/2/22 | 2/7/23 | 8/1/23 | - | - | - |
1AUD
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 395 | 442 | 442 | 444 | 452 | 677 | 688 | 698 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.916 x | 3.332 x | 3.425 x | 3.454 x | 3.489 x | 4.915 x | 4.512 x | 4.431 x |
| Free Cash Flow 1 | 94.1 | 80 | 115 | 115 | 110 | 55 | -513 | 9 |
| ROE (net income / shareholders' equity) | 6.28% | 6.11% | 12.9% | 4.98% | 4.64% | 4.73% | 4.82% | 4.83% |
| ROA (Net income/ Total Assets) | 4.9% | 8.54% | 10.1% | 4.03% | 3.8% | 3.79% | 3.93% | 3.9% |
| Assets 1 | 3,457 | 2,467 | 2,613 | 12,084 | 966.5 | 3,291 | 3,649 | 3,805 |
| Book Value Per Share 2 | 2.920 | 3.060 | 3.290 | 3.870 | 3.750 | 3.870 | 3.940 | 4.050 |
| Cash Flow per Share 2 | - | - | - | 0.1700 | - | 0.1800 | 0.1900 | 0.1800 |
| Capex 1 | 16 | 29.7 | 13.2 | 14 | 14.3 | 28.9 | 17.5 | 19.6 |
| Capex / Sales | 10.27% | 19.05% | 8.69% | 9.13% | 9.04% | 17.41% | 9.43% | 10.25% |
| Announcement Date | 8/5/19 | 8/3/20 | 8/3/21 | 8/2/22 | 8/1/23 | - | - | - |
1AUD in Million2AUD
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
C-
Sell
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
6
Last Close Price
3.46
AUD
Average target price
3.532
AUD
Spread / Average Target
+2.07%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.28% | 1.57B | |
| -6.46% | 46.25B | |
| -8.31% | 20.33B | |
| -3.09% | 13.07B | |
| +16.56% | 11.53B | |
| -4.85% | 9.68B | |
| -0.83% | 8.48B | |
| -14.19% | 8.38B | |
| +2.03% | 7.63B | |
| -18.42% | 5.53B |
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