Financials LHN Limited

Equities

Market Closed - Singapore S.E. Other stock markets 04:41:33 2024-05-06 am EDT			5-day change	1st Jan Change
0.315 ^SGD	-4.55%		-3.08%	-4.55%

04:06am	LHN Flags Lower Net Profit for Six Months Ended March 31	MT
02:32am	LHN Expects Drop in First-Half Profit	MT

Fiscal Period: September	2021	2022	2023	2024	2025	2026
Capitalization ¹	139	112.5	137	135	-	-
Enterprise Value (EV) ¹	139	112.5	263.7	251.1	250.7	253.2
P/E ratio	4.9 x	2.45 x	3.59 x	5.69 x	4.65 x	5.08 x
Yield	5.15%	5.82%	5.97%	6.06%	6.06%	6.06%
Capitalization / Revenue	1.15 x	1.01 x	1.19 x	1.22 x	1.09 x	0.95 x
EV / Revenue	1.15 x	1.01 x	2.28 x	2.28 x	2.03 x	1.78 x
EV / EBITDA	-	-	4.91 x	5.86 x	5.49 x	5.49 x
EV / FCF	-	-	7.45 x	8.05 x	26.4 x	6.7 x
FCF Yield	-	-	13.4%	12.4%	3.79%	14.9%
Price to Book	0.95 x	0.59 x	0.63 x	0.58 x	0.54 x	-
Nbr of stocks (in thousands)	408,945	408,945	408,945	408,945	-	-
Reference price ²	0.3400	0.2750	0.3350	0.3300	0.3300	0.3300
Announcement Date	11/26/21	11/28/22	11/24/23	-	-	-

¹SGD in Million²SGD

Estimates

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	121	111.8	115.5	110.2	123.8	142.1
EBITDA ¹	-	-	-	53.76	42.83	45.67	46.1
EBIT ¹	-	32.27	57.94	46.32	31.35	34.34	34.8
Operating Margin	-	26.67%	51.84%	40.09%	28.43%	27.75%	24.49%
Earnings before Tax (EBT) ¹	-	34.26	53.01	40.47	28.78	32.7	36.65
Net income ¹	24.14	28.06	45.84	38.21	23.73	26.88	26.6
Net margin	-	23.2%	41.01%	33.08%	21.52%	21.72%	18.72%
EPS ²	-	0.0694	0.1121	0.0934	0.0580	0.0710	0.0650
Free Cash Flow ¹	-	-	-	35.39	31.2	9.5	37.8
FCF margin	-	-	-	30.64%	28.3%	7.68%	26.6%
FCF Conversion (EBITDA)	-	-	-	65.82%	72.84%	20.8%	82%
FCF Conversion (Net income)	-	-	-	92.62%	131.5%	35.35%	142.11%
Dividend per Share ²	-	0.0175	0.0160	0.0200	0.0200	0.0200	0.0200
Announcement Date	11/27/20	11/26/21	11/28/22	11/24/23	-	-	-

¹SGD in Million²SGD

Estimates

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	127	116	116	118
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	2.357 x	2.711 x	2.534 x	2.564 x
Free Cash Flow ¹	-	-	-	35.4	31.2	9.5	37.8
ROE (net income / shareholders' equity)	-	21%	27.6%	19%	10.6%	11.4%	11.3%
ROA (Net income/ Total Assets)	-	7.68%	10.7%	7.47%	4.23%	4.63%	4.6%
Assets ¹	-	365.3	427.8	511.5	560.5	580.1	578.3
Book Value Per Share ²	-	0.3600	0.4700	0.5300	0.5700	0.6200	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	20	7.69	18.8	13.5	14.1	17.3
Capex / Sales	-	16.53%	6.88%	16.29%	12.25%	11.39%	12.17%
Announcement Date	11/27/20	11/26/21	11/28/22	11/24/23	-	-	-

¹SGD in Million²SGD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.33 SGD

Average target price

0.4133 SGD

Spread / Average Target

+25.25%

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