Financials Packages Limited

Equities

PKGS

PK0010001011

Paper Packaging

End-of-day quote Pakistan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
481.8 PKR -2.19% Intraday chart for Packages Limited -3.85% -9.11%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 34,545 35,639 53,352 44,446 33,085 47,379
Enterprise Value (EV) 1 63,042 66,631 81,584 81,316 102,592 137,497
P/E ratio 37.4 x 233 x 12.6 x 6.96 x 5.13 x 5.51 x
Yield 3.88% 3.01% 3.77% 5.53% 7.43% 5.19%
Capitalization / Revenue 0.65 x 0.59 x 0.82 x 0.55 x 0.27 x 0.3 x
EV / Revenue 1.19 x 1.09 x 1.26 x 1.01 x 0.84 x 0.88 x
EV / EBITDA 10.3 x 7.41 x 7.13 x 5.6 x 4.41 x 4.4 x
EV / FCF -14.4 x -126 x 33.9 x -11 x -3.62 x -7.36 x
FCF Yield -6.95% -0.8% 2.95% -9.09% -27.6% -13.6%
Price to Book 0.55 x 0.62 x 0.96 x 0.79 x 0.54 x 0.61 x
Nbr of stocks (in thousands) 89,380 89,380 89,380 89,380 89,380 89,380
Reference price 2 386.5 398.7 596.9 497.3 370.2 530.1
Announcement Date 3/26/19 5/7/20 4/8/21 4/12/22 4/6/23 4/5/24
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 52,923 60,906 64,981 80,322 121,894 156,972
EBITDA 1 6,092 8,996 11,445 14,517 23,250 31,253
EBIT 1 1,794 4,844 7,645 10,495 17,445 24,330
Operating Margin 3.39% 7.95% 11.77% 13.07% 14.31% 15.5%
Earnings before Tax (EBT) 1 1,728 1,938 5,084 9,607 11,910 15,396
Net income 1 1,006 153 4,518 6,856 6,926 9,277
Net margin 1.9% 0.25% 6.95% 8.54% 5.68% 5.91%
EPS 2 10.34 1.710 47.44 71.41 72.12 96.22
Free Cash Flow 1 -4,380 -530.9 2,409 -7,389 -28,365 -18,681
FCF margin -8.28% -0.87% 3.71% -9.2% -23.27% -11.9%
FCF Conversion (EBITDA) - - 21.05% - - -
FCF Conversion (Net income) - - 53.32% - - -
Dividend per Share 2 15.00 12.00 22.50 27.50 27.50 27.50
Announcement Date 3/26/19 5/7/20 4/8/21 4/12/22 4/6/23 4/5/24
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 28,497 30,992 28,232 36,870 69,507 90,118
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.678 x 3.445 x 2.467 x 2.54 x 2.99 x 2.883 x
Free Cash Flow 1 -4,380 -531 2,409 -7,389 -28,365 -18,681
ROE (net income / shareholders' equity) 1.63% 0.45% 7.71% 12.2% 11.1% 12.7%
ROA (Net income/ Total Assets) 1.02% 2.85% 4.62% 5.98% 7.51% 7.47%
Assets 1 98,995 5,373 97,758 114,743 92,159 124,251
Book Value Per Share 2 697.0 641.0 619.0 631.0 685.0 871.0
Cash Flow per Share 2 5.160 4.680 7.140 11.30 24.50 32.70
Capex 1 4,928 4,402 2,618 8,858 22,749 28,259
Capex / Sales 9.31% 7.23% 4.03% 11.03% 18.66% 18%
Announcement Date 3/26/19 5/7/20 4/8/21 4/12/22 4/6/23 4/5/24
1PKR in Million2PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Chiffre d''affaires - Rate of surprise

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