Financials Capital Limited

Equities

CAPD

BMG022411000

Mining Support Services & Equipment

Market Closed - London S.E. Other stock markets 11:35:20 2024-04-26 am EDT			5-day change	1st Jan Change
104 ^GBX	+0.97%		+8.79%	+15.56%

Apr. 18	Thor Explorations says production up at Segilola	AN
Apr. 05	Being AI Shares Jump 24% to NZ$0.07	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	119.2	173	216.5	224	221.9	254.2	-	-
Enterprise Value (EV) ¹	114.8	167.9	248.4	271.2	291.7	359.5	343.2	260.9
P/E ratio	-	5.22 x	3.13 x	11 x	6.09 x	6.84 x	6.79 x	7.16 x
Yield	1.6%	2.4%	3.16%	3.32%	3.4%	3.2%	3.01%	2.39%
Capitalization / Revenue	1.04 x	1.28 x	0.95 x	0.77 x	0.7 x	0.72 x	0.68 x	0.65 x
EV / Revenue	1 x	1.24 x	1.1 x	0.93 x	0.92 x	1.01 x	0.91 x	0.67 x
EV / EBITDA	4.21 x	4.97 x	3.39 x	3.01 x	3.18 x	3.83 x	3.47 x	2.75 x
EV / FCF	-	-12.1 x	-12.6 x	29.9 x	18.3 x	16.5 x	7.99 x	6.64 x
FCF Yield	-	-8.28%	-7.91%	3.35%	5.48%	6.06%	12.5%	15.1%
Price to Book	-	1.18 x	0.99 x	0.96 x	-	-	-	-
Nbr of stocks (in thousands)	136,249	188,781	190,055	190,891	193,697	196,257	-	-
Reference price ²	0.8752	0.9162	1.139	1.173	1.146	1.295	1.295	1.295
Announcement Date	3/19/20	3/18/21	3/10/22	3/1/23	3/14/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	114.8	135	226.8	290.3	318.4	354.4	376.2	389.9
EBITDA ¹	27.3	33.8	73.3	90.1	91.81	93.78	98.95	94.83
EBIT ¹	16.64	21.62	51.88	59.68	60.28	61.77	60.68	55.42
Operating Margin	14.49%	16.02%	22.87%	20.56%	18.93%	17.43%	16.13%	14.21%
Earnings before Tax (EBT) ¹	-	34.09	82.01	32.57	50.33	49.17	50.42	47.53
Net income ¹	-	24.57	70.17	20.99	36.74	37.03	37.58	35.42
Net margin	-	18.21%	30.94%	7.23%	11.54%	10.45%	9.99%	9.08%
EPS ²	-	0.1755	0.3640	0.1071	0.1882	0.1893	0.1908	0.1810
Free Cash Flow ¹	-	-13.91	-19.66	9.071	15.98	21.8	42.97	39.3
FCF margin	-	-10.3%	-8.67%	3.12%	5.02%	6.15%	11.42%	10.08%
FCF Conversion (EBITDA)	-	-	-	10.07%	17.4%	23.25%	43.42%	41.44%
FCF Conversion (Net income)	-	-	-	43.22%	43.49%	58.87%	114.35%	110.94%
Dividend per Share ²	0.0140	0.0220	0.0360	0.0390	0.0390	0.0415	0.0390	0.0310
Announcement Date	3/19/20	3/18/21	3/10/22	3/1/23	3/14/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 S2	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2
Net sales ¹	-	-	61.6	66.51	128.1	66.9	71.23	138.1	73.1	79.06	152.2	77.8	76.47	154.3	79.7	164.1	98.2	178.4	89.4	92.5	181.8
EBITDA	-	28.4	-	-	44.9	-	-	41.38	-	-	48.7	-	-	43.93	-	47.9	-	45.4	-	-	42.5
EBIT	-	-	-	-	-	-	-	27.96	-	-	31.72	-	-	28.37	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	20.24%	-	-	20.85%	-	-	18.39%	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	13.67	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EPS	0.0990	0.0960	-	-	0.2680	-	-	0.0450	-	-	0.0621	-	-	0.0850	-	0.1032	-	0.1000	-	-	0.0900
Dividend per Share	-	0.0120	-	-	0.0240	-	-	0.0130	-	-	0.0260	-	-	0.0130	-	0.0260	-	0.0130	-	-	0.0260
Announcement Date	8/20/20	8/19/21	10/13/21	3/10/22	3/10/22	4/21/22	8/18/22	8/18/22	11/5/22	3/1/23	3/1/23	4/20/23	8/16/23	8/16/23	12/14/23	3/14/24	-	-	-	-	-

¹USD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	31.9	47.2	69.8	105	89	6.7
Net Cash position ¹	4.43	5.01	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.4352 x	0.5239 x	0.7606 x	1.122 x	0.8991 x	0.0707 x
Free Cash Flow ¹	-	-13.9	-19.7	9.07	16	21.8	43	39.3
ROE (net income / shareholders' equity)	-	21.1%	38.4%	9.28%	14.8%	13.3%	12.4%	8%
ROA (Net income/ Total Assets)	-	13.9%	24.3%	5.69%	-	-	-	-
Assets ¹	-	177.3	288.9	369.1	-	-	-	-
Book Value Per Share	-	0.7800	1.150	1.220	-	-	-	-
Cash Flow per Share ²	0.1800	0.2000	0.1600	0.2900	0.3500	0.3600	0.3900	0.4300
Capex ¹	15.8	42.2	46.3	43	53.2	69.8	40.2	38
Capex / Sales	13.8%	31.29%	20.42%	14.8%	16.71%	19.68%	10.68%	9.75%
Announcement Date	3/19/20	3/18/21	3/10/22	3/1/23	3/14/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Capital Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.295 USD

Average target price

1.85 USD

Spread / Average Target

+42.83%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Mining Support Activities