Financials PPC Ltd

Equities

PPC

ZAE000170049

Construction Materials

End-of-day quote Johannesburg S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
3.21 ZAR +3.88% Intraday chart for PPC Ltd -3.31% -19.55%

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 11,806 7,111 2,566 3,616 6,649 4,281
Enterprise Value (EV) 1 15,657 11,663 8,122 5,847 7,712 5,117
P/E ratio 79.6 x 30.2 x -1.37 x 19.2 x 81.2 x -6.66 x
Yield - - - - - -
Capitalization / Revenue 1.15 x 0.68 x 0.25 x 0.4 x 0.67 x 0.43 x
EV / Revenue 1.52 x 1.12 x 0.79 x 0.65 x 0.78 x 0.52 x
EV / EBITDA 8.67 x 6.19 x 5.34 x 3.55 x 5.17 x 3.9 x
EV / FCF 26.1 x 34.8 x -91.9 x 4.26 x 7.08 x 16.9 x
FCF Yield 3.84% 2.87% -1.09% 23.5% 14.1% 5.92%
Price to Book 1.53 x 0.77 x 0.33 x 0.53 x 0.96 x 0.78 x
Nbr of stocks (in thousands) 1,503,926 1,512,994 1,509,481 1,506,788 1,564,389 1,465,931
Reference price 2 7.850 4.700 1.700 2.400 4.250 2.920
Announcement Date 6/29/18 7/19/19 5/30/20 6/21/21 6/27/22 6/26/23
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 10,271 10,409 10,241 8,938 9,882 9,902
EBITDA 1 1,806 1,885 1,521 1,645 1,493 1,311
EBIT 1 956 894 572 1,132 522 456
Operating Margin 9.31% 8.59% 5.59% 12.67% 5.28% 4.61%
Earnings before Tax (EBT) 1 242 150 -2,291 1,765 186 93
Net income 1 149 235 -1,872 189 88 -667
Net margin 1.45% 2.26% -18.28% 2.11% 0.89% -6.74%
EPS 2 0.0987 0.1554 -1.242 0.1253 0.0523 -0.4387
Free Cash Flow 1 600.9 335 -88.38 1,372 1,089 302.9
FCF margin 5.85% 3.22% -0.86% 15.35% 11.02% 3.06%
FCF Conversion (EBITDA) 33.27% 17.77% - 83.43% 72.96% 23.1%
FCF Conversion (Net income) 403.27% 142.55% - 726.12% 1,237.78% -
Dividend per Share - - - - - -
Announcement Date 6/29/18 7/19/19 5/30/20 6/21/21 6/27/22 6/26/23
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 3,851 4,552 5,556 2,231 1,063 836
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.132 x 2.415 x 3.653 x 1.356 x 0.712 x 0.6377 x
Free Cash Flow 1 601 335 -88.4 1,372 1,089 303
ROE (net income / shareholders' equity) 0.45% 1.67% -28.5% 14.3% -0.31% -2.17%
ROA (Net income/ Total Assets) 3.49% 3.28% 2.06% 4.3% 2.13% 2.21%
Assets 1 4,269 7,157 -90,967 4,394 4,137 -30,208
Book Value Per Share 2 5.130 6.130 5.170 4.560 4.450 3.760
Cash Flow per Share 2 0.5500 0.3000 0.2600 0.3000 0.3700 0.2800
Capex 1 921 773 650 367 553 415
Capex / Sales 8.97% 7.43% 6.35% 4.11% 5.6% 4.19%
Announcement Date 6/29/18 7/19/19 5/30/20 6/21/21 6/27/22 6/26/23
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA