Financials Pepper Money Limited

Equities

PPM

AU0000150898

Consumer Lending

Market Closed - Australian S.E. Other stock markets 02:10:37 2024-05-17 am EDT			5-day change	1st Jan Change
1.46 ^AUD	+1.04%		-1.02%	+18.70%

Mar. 28	Pepper Money Completes Stratton Finance Acquisition	MT
Mar. 28	Pepper Money Limited completed the acquisition of 35% stake in Stratton Finance Pty Ltd.	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	949.3	624.3	540.9	644.7	-	-
Enterprise Value (EV) ¹	949.3	624.3	540.9	644.7	644.7	644.7
P/E ratio	6.01 x	4.53 x	5.16 x	7.13 x	6.3 x	5.68 x
Yield	4.17%	7.39%	-	6.91%	7.4%	7.45%
Capitalization / Revenue	2.37 x	1.41 x	1.26 x	1.45 x	1.36 x	1.28 x
EV / Revenue	2.37 x	1.41 x	1.26 x	1.45 x	1.36 x	1.28 x
EV / EBITDA	4.11 x	2.63 x	2.72 x	3.55 x	3.36 x	3.25 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	1.49 x	0.78 x	-	0.73 x	0.67 x	0.63 x
Nbr of stocks (in thousands)	439,506	439,677	439,791	441,546	-	-
Reference price ²	2.160	1.420	1.230	1.460	1.460	1.460
Announcement Date	2/23/22	2/22/23	2/28/24	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	400.4	441.5	427.8	443.4	474.2	503.4
EBITDA ¹	-	231.2	237	198.7	181.7	191.6	198.2
EBIT ¹	-	226.9	236.5	188.6	166	180.5	176.8
Operating Margin	-	56.67%	53.57%	44.09%	37.44%	38.06%	35.13%
Earnings before Tax (EBT) ¹	-	186.3	201.7	148.7	130.2	143.9	159.8
Net income ¹	-29.96	130.7	141	110.7	94.46	105.3	114.9
Net margin	-	32.64%	31.94%	25.88%	21.3%	22.21%	22.82%
EPS ²	-0.1190	0.3593	0.3134	0.2383	0.2048	0.2317	0.2571
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	0.0900	0.1050	-	0.1008	0.1080	0.1088
Announcement Date	5/25/21	2/23/22	2/22/23	2/28/24	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 S1	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	176.2	192.5	281.2	193.5	234.3	220.3	235.7	244.6	257.8
EBITDA	108	119.3	-	94.7	-	-	-	-	-
EBIT ¹	97.3	109.3	127.2	82.8	105.8	79.46	83.81	87.24	93.32
Operating Margin	55.22%	56.78%	45.23%	42.79%	45.16%	36.07%	35.55%	35.67%	36.2%
Earnings before Tax (EBT)	-	103.7	98	71.1	77.6	-	-	-	-
Net income	-	72.2	68.8	53	57.7	-	-	-	-
Net margin	-	37.51%	24.47%	27.39%	24.63%	-	-	-	-
EPS	-	0.1609	0.1525	0.1152	0.1231	-	-	-	-
Dividend per Share	-	0.0540	0.0510	0.0350	-	-	-	-	-
Announcement Date	8/23/21	8/23/22	2/22/23	8/22/23	2/28/24	-	-	-	-

¹AUD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	20.7%	19.8%	-	10.9%	11.3%	11.7%
ROA (Net income/ Total Assets)	-	0.65%	0.77%	-	0.47%	0.51%	0.5%
Assets ¹	-	20,185	18,312	-	20,314	20,851	22,977
Book Value Per Share ²	-	1.450	1.820	-	2.000	2.170	2.340
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	5/25/21	2/23/22	2/22/23	2/28/24	-	-	-

¹AUD in Million²AUD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Pepper Money Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.46 AUD

Average target price

1.664 AUD

Spread / Average Target

+13.97%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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