Financials Coronation Fund Managers Limited

Equities

CML

ZAE000047353

Investment Management & Fund Operators

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
30.33 ZAR +1.64% Intraday chart for Coronation Fund Managers Limited +0.46% -2.66%

Valuation

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Capitalization 1 18,851 14,583 14,104 17,525 10,508 10,837
Enterprise Value (EV) 1 18,189 13,056 12,458 16,192 9,098 9,680
P/E ratio 12.8 x 12.2 x 10.1 x 10.3 x 8.2 x 16.9 x
Yield 7.79% 8.18% 9.5% 9.38% 12.8% 5.33%
Capitalization / Revenue 4.9 x 4.4 x 3.84 x 4.06 x 2.82 x 2.97 x
EV / Revenue 4.73 x 3.94 x 3.39 x 3.75 x 2.44 x 2.65 x
EV / EBITDA 9.43 x 8.53 x 7.15 x 7.3 x 4.86 x 6.11 x
EV / FCF -7.14 x -15.1 x 21.1 x 1.43 x -2.12 x 1.21 x
FCF Yield -14% -6.64% 4.74% 70.1% -47.1% 82.5%
Price to Book 8.99 x 7.17 x 6.48 x 7.73 x 5.15 x 5.23 x
Nbr of stocks (in thousands) 349,799 349,799 349,799 349,799 349,799 349,799
Reference price 2 53.89 41.69 40.32 50.10 30.04 30.98
Announcement Date 12/5/18 11/30/19 12/4/20 12/6/21 12/6/22 11/29/23
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net sales 1 3,848 3,313 3,671 4,313 3,725 3,647
EBITDA 1 1,928 1,530 1,743 2,218 1,872 1,583
EBIT 1 1,915 1,516 1,731 2,209 1,863 1,569
Operating Margin 49.77% 45.76% 47.15% 51.22% 50.01% 43.02%
Earnings before Tax (EBT) 1 1,960 1,579 1,823 2,304 1,692 1,689
Net income 1 1,471 1,196 1,394 1,707 1,281 640
Net margin 38.23% 36.1% 37.97% 39.58% 34.39% 17.55%
EPS 2 4.205 3.419 3.985 4.879 3.662 1.829
Free Cash Flow 1 -2,549 -866.5 590.6 11,349 -4,287 7,984
FCF margin -66.25% -26.15% 16.09% 263.14% -115.09% 218.93%
FCF Conversion (EBITDA) - - 33.89% 511.69% - 504.38%
FCF Conversion (Net income) - - 42.37% 664.87% - 1,247.56%
Dividend per Share 2 4.200 3.410 3.830 4.700 3.860 1.650
Announcement Date 12/5/18 11/30/19 12/4/20 12/6/21 12/6/22 11/29/23
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 662 1,527 1,646 1,333 1,410 1,157
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -2,549 -867 591 11,349 -4,287 7,984
ROE (net income / shareholders' equity) 65% 53.9% 62.1% 76.9% 59.5% 31.1%
ROA (Net income/ Total Assets) 2.1% 1.75% 2.02% 2.33% 1.88% 1.58%
Assets 1 70,211 68,358 68,904 73,337 68,037 40,527
Book Value Per Share 2 5.990 5.810 6.220 6.480 5.830 5.930
Cash Flow per Share 2 2.300 1.950 1.480 1.720 1.880 3.260
Capex 1 12 12 12 11 6 25
Capex / Sales 0.31% 0.36% 0.33% 0.26% 0.16% 0.69%
Announcement Date 12/5/18 11/30/19 12/4/20 12/6/21 12/6/22 11/29/23
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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