Financials Namibia Asset Management Limited

Equities

NAM

NA000A0JMZ44

Investment Management & Fund Operators

End-of-day quote NAMIBIAN S.E. 07:00:00 2024-03-27 pm EDT 5-day change 1st Jan Change
0.72 ZAR -.--% Intraday chart for Namibia Asset Management Limited -.--% +2.86%

Valuation

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Capitalization 1 98.71 84.94 95.53 102.6 104.5 107.3
Enterprise Value (EV) 1 70.35 45.39 50.6 60.98 69.87 67.94
P/E ratio 6.92 x 5.26 x 6.39 x 7.56 x 10.7 x 9.19 x
Yield 11.7% 16.3% 11.3% 10.6% 8.94% 8.7%
Capitalization / Revenue 1.29 x 1.01 x 0.95 x 1.1 x 1.16 x 1.32 x
EV / Revenue 0.92 x 0.54 x 0.5 x 0.65 x 0.78 x 0.84 x
EV / EBITDA 3.4 x 2.05 x 2.26 x 3.34 x 4.46 x 3.89 x
EV / FCF 4.82 x 2.19 x 2.17 x 7.97 x 14.2 x 4.9 x
FCF Yield 20.7% 45.7% 46% 12.5% 7.06% 20.4%
Price to Book 3.43 x 2.59 x 3.07 x 3.24 x 3.51 x 3.36 x
Nbr of stocks (in thousands) 154,229 154,229 154,229 155,479 155,704 155,608
Reference price 2 0.6400 0.5508 0.6194 0.6598 0.6710 0.6894
Announcement Date 12/20/18 12/20/19 12/22/20 12/20/21 12/15/22 12/20/23
1NAD in Million2NAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net sales 1 76.5 84.26 100.9 93.42 90.13 81.32
EBITDA 1 20.72 22.18 22.43 18.25 15.67 17.47
EBIT 1 20.46 21.55 22.09 17.9 15.21 17.02
Operating Margin 26.74% 25.57% 21.88% 19.16% 16.87% 20.93%
Earnings before Tax (EBT) 1 21.72 24.08 23.13 18.74 16.19 18.57
Net income 1 14.76 16.58 15.23 13.73 10.78 12.93
Net margin 19.3% 19.67% 15.09% 14.7% 11.96% 15.91%
EPS 2 0.0925 0.1048 0.0970 0.0873 0.0627 0.0750
Free Cash Flow 1 14.58 20.76 23.27 7.652 4.93 13.86
FCF margin 19.06% 24.64% 23.05% 8.19% 5.47% 17.04%
FCF Conversion (EBITDA) 70.41% 93.62% 103.74% 41.94% 31.47% 79.33%
FCF Conversion (Net income) 98.79% 125.25% 152.8% 55.74% 45.74% 107.14%
Dividend per Share 2 0.0750 0.0900 0.0700 0.0700 0.0600 0.0600
Announcement Date 12/20/18 12/20/19 12/22/20 12/20/21 12/15/22 12/20/23
1NAD in Million2NAD
Estimates

Balance Sheet Analysis

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 28.4 39.5 44.9 41.6 34.6 39.3
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 14.6 20.8 23.3 7.65 4.93 13.9
ROE (net income / shareholders' equity) 53.5% 53.9% 47.4% 43.5% 35.1% 41.7%
ROA (Net income/ Total Assets) 25.9% 24.1% 18.7% 13.2% 12.2% 16.8%
Assets 1 57.07 68.8 81.46 104.3 88.25 76.93
Book Value Per Share 2 0.1900 0.2100 0.2000 0.2000 0.1900 0.2100
Cash Flow per Share 2 0.1500 0.2000 0.2300 0.1800 0.0900 0.1800
Capex 1 0.11 1.24 0.15 0.07 0.55 0.01
Capex / Sales 0.14% 1.47% 0.14% 0.08% 0.61% 0.02%
Announcement Date 12/20/18 12/20/19 12/22/20 12/20/21 12/15/22 12/20/23
1NAD in Million2NAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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