Financials GlaxoSmithKline Pakistan Limited

Equities

GLAXO

PK0001301016

Pharmaceuticals

End-of-day quote Pakistan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
100.4 PKR +2.43% Intraday chart for GlaxoSmithKline Pakistan Limited +9.73% +20.98%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 35,885 51,136 61,092 43,474 27,952 26,430
Enterprise Value (EV) 1 32,452 48,498 55,079 35,045 23,543 23,544
P/E ratio 11 x 16.8 x 18.1 x 8.12 x 11.3 x 49.5 x
Yield 6.21% 3.74% 3.39% 5.13% - -
Capitalization / Revenue 1.06 x 1.4 x 1.74 x 1.19 x 0.67 x 0.53 x
EV / Revenue 0.95 x 1.33 x 1.57 x 0.96 x 0.56 x 0.47 x
EV / EBITDA 5.87 x 8.65 x 9.73 x 4.59 x 4.01 x 8.17 x
EV / FCF 15.6 x 31.1 x 11.9 x 9.89 x -15.6 x -20.9 x
FCF Yield 6.42% 3.22% 8.37% 10.1% -6.41% -4.78%
Price to Book 2.33 x 3.17 x 3.5 x 2.07 x 1.33 x 1.22 x
Nbr of stocks (in thousands) 318,467 318,467 318,467 318,467 318,467 318,467
Reference price 2 112.7 160.6 191.8 136.5 87.77 82.99
Announcement Date 4/3/19 4/29/20 4/6/21 4/4/22 3/28/23 4/1/24
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 34,007 36,582 35,090 36,661 41,842 49,661
EBITDA 1 5,526 5,606 5,658 7,634 5,874 2,881
EBIT 1 4,863 4,811 4,909 6,873 5,068 1,965
Operating Margin 14.3% 13.15% 13.99% 18.75% 12.11% 3.96%
Earnings before Tax (EBT) 1 4,692 4,600 4,903 7,424 5,106 2,177
Net income 1 3,258 3,041 3,375 5,354 2,463 534
Net margin 9.58% 8.31% 9.62% 14.61% 5.89% 1.08%
EPS 2 10.23 9.549 10.60 16.81 7.734 1.677
Free Cash Flow 1 2,084 1,559 4,609 3,545 -1,509 -1,126
FCF margin 6.13% 4.26% 13.14% 9.67% -3.61% -2.27%
FCF Conversion (EBITDA) 37.71% 27.81% 81.47% 46.44% - -
FCF Conversion (Net income) 63.95% 51.27% 136.57% 66.21% - -
Dividend per Share 2 7.000 6.000 6.500 7.000 - -
Announcement Date 4/3/19 4/29/20 4/6/21 4/4/22 3/28/23 4/1/24
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 3,433 2,638 6,013 8,429 4,408 2,886
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 2,084 1,559 4,609 3,545 -1,509 -1,126
ROE (net income / shareholders' equity) 22.4% 19.3% 20.1% 27.8% 11.7% 2.5%
ROA (Net income/ Total Assets) 13.8% 13.2% 12.4% 15.2% 9.6% 3.33%
Assets 1 23,608 22,958 27,117 35,229 25,657 16,016
Book Value Per Share 2 48.40 50.70 54.90 65.90 66.10 68.10
Cash Flow per Share 2 10.00 7.370 17.60 22.20 14.90 11.30
Capex 1 855 1,343 1,316 1,304 1,533 1,649
Capex / Sales 2.51% 3.67% 3.75% 3.56% 3.66% 3.32%
Announcement Date 4/3/19 4/29/20 4/6/21 4/4/22 3/28/23 4/1/24
1PKR in Million2PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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