Financials Mari Petroleum Company Limited

Equities

MARI

PK0066301018

Oil & Gas Exploration and Production

End-of-day quote Pakistan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
2,818 PKR -0.38% Intraday chart for Mari Petroleum Company Limited +7.48% +34.46%

Valuation

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 122,406 164,972 203,357 232,086 202,057 375,987 - -
Enterprise Value (EV) 1 122,406 164,972 203,357 232,086 202,057 375,987 375,987 375,987
P/E ratio 5.03 x 5.44 x 6.47 x 7.02 x 3.6 x 5.14 x 4.57 x 3.78 x
Yield 0.59% 0.49% 9.25% 7.13% 9.71% 6.68% 8.57% 8.39%
Capitalization / Revenue 2.06 x 2.29 x 2.79 x 2.44 x 1.39 x 1.94 x 1.6 x 1.3 x
EV / Revenue 2.06 x 2.29 x 2.79 x 2.44 x 1.39 x 1.94 x 1.6 x 1.3 x
EV / EBITDA 3,341,549 x - - 4,114,931 x - - - -
EV / FCF - - - 23.3 x - 12.2 x 37.9 x 9.64 x
FCF Yield - - - 4.28% - 8.2% 2.64% 10.4%
Price to Book 1.92 x - - 1.77 x - - - -
Nbr of stocks (in thousands) 133,403 133,403 133,403 133,403 133,403 133,402 - -
Reference price 2 917.6 1,237 1,524 1,740 1,515 2,818 2,818 2,818
Announcement Date 7/30/19 8/20/20 8/26/21 9/7/22 8/9/23 - - -
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 59,448 72,015 73,018 95,134 145,770 193,462 234,866 289,361
EBITDA 36,632 - - 56,401 - - - -
EBIT 1 33,417 36,951 - 51,226 85,093 112,791 137,067 164,674
Operating Margin 56.21% 51.31% - 53.85% 58.37% 58.3% 58.36% 56.91%
Earnings before Tax (EBT) 1 34,708 41,279 43,931 52,116 85,847 116,563 151,163 162,884
Net income 1 24,327 30,313 31,445 33,063 56,129 70,903 82,504 99,359
Net margin 40.92% 42.09% 43.06% 34.75% 38.51% 36.65% 35.13% 34.34%
EPS 2 182.4 227.2 235.7 247.8 420.8 547.9 616.4 744.8
Free Cash Flow 1 - - - 9,942 - 30,837 9,933 39,006
FCF margin - - - 10.45% - 15.94% 4.23% 13.48%
FCF Conversion (EBITDA) - - - 17.63% - - - -
FCF Conversion (Net income) - - - 30.07% - 43.49% 12.04% 39.26%
Dividend per Share 2 5.455 6.100 141.0 124.0 147.0 188.2 241.4 236.5
Announcement Date 7/30/19 8/20/20 8/26/21 9/7/22 8/9/23 - - -
1PKR in Million2PKR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2021 S1 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3
Net sales 1 34,551 39,210 20,726 21,692 42,418 25,199 27,517 31,825 29,177 61,002 37,838 46,930 48,206 45,539 93,745 48,410
EBITDA - - - - - - - - - - - - - - - -
EBIT 1 18,916 21,966 12,195 - - 15,623 - 20,588 17,472 - 22,707 24,326 32,807 31,295 64,102 34,349
Operating Margin 54.75% 56.02% 58.84% - - 62% - 64.69% 59.88% - 60.01% 51.83% 68.06% 68.72% 68.38% 70.95%
Earnings before Tax (EBT) 1 20,987 23,266 13,047 11,481 24,528 15,003 12,585 19,325 16,827 36,152 24,651 - - - - 27,041
Net income 1 14,748 16,401 9,099 7,471 16,570 10,889 5,604 12,715 11,147 23,862 16,430 15,837 19,143 18,361 37,505 18,458
Net margin 42.68% 41.83% 43.9% 34.44% 39.06% 43.21% 20.36% 39.95% 38.21% 39.12% 43.42% 33.75% 39.71% 40.32% 40.01% 38.13%
EPS 2 110.6 122.9 68.21 56.00 124.2 81.63 42.00 95.31 83.56 178.9 123.2 118.7 - 137.6 281.1 136.1
Dividend per Share 4.100 6.000 - 62.00 62.00 - 62.00 - 89.00 89.00 - 58.00 - 98.00 98.00 -
Announcement Date 1/24/20 2/26/21 10/26/21 1/24/22 1/24/22 5/6/22 9/7/22 10/28/22 1/26/23 1/26/23 4/29/23 8/9/23 10/30/23 1/29/24 1/29/24 -
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - 9,942 - 30,837 9,933 39,006
ROE (net income / shareholders' equity) 38.2% 38.7% 30.2% 26.8% - 36.9% 33.9% 31.2%
ROA (Net income/ Total Assets) 13.4% - 18.2% - - - - -
Assets 1 182,114 - 173,059 - - - - -
Book Value Per Share 477.0 - - 981.0 - - - -
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 7/30/19 8/20/20 8/26/21 9/7/22 8/9/23 - - -
1PKR in Million
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
2,818 PKR
Average target price
2,812 PKR
Spread / Average Target
-0.22%
Consensus
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