PRECINCT PROPERTIES NZ LTD & PRECINCT PROPERTIES INVESTMENTS LTD Financials Precinct Properties NZ Ltd & Precinct Properties Investments Ltd
Equities
PCT
NZAPTE0001S3
Real Estate Development & Operations
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.16 NZD | -1.28% |
|
-1.28% | -8.30% |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,325 | 2,063 | 2,334 | 2,173 | 2,046 | 1,840 | - | - |
| Enterprise Value (EV) 1 | 3,077 | 3,213 | 3,421 | 3,437 | 3,288 | 3,101 | 3,099 | 3,101 |
| P/E ratio | 11.6 x | 68.3 x | 11.2 x | 19.4 x | -13.4 x | -18.4 x | 18.4 x | 11.8 x |
| Yield | 3.39% | 4.01% | 4.06% | 4.89% | 5.19% | 5.77% | 5.71% | 5.71% |
| Capitalization / Revenue | 17.1 x | 19.5 x | 11.7 x | 10.8 x | 9.35 x | 11.9 x | 10.9 x | 10.6 x |
| EV / Revenue | 22.7 x | 30.4 x | 17.1 x | 17.2 x | 15 x | 20.1 x | 18.4 x | 17.8 x |
| EV / EBITDA | 38.7 x | - | 31 x | 28.8 x | 22 x | 21.2 x | 19.6 x | 19 x |
| EV / FCF | 48.2 x | - | - | -13.1 x | - | -2,819 x | 34.3 x | 10.7 x |
| FCF Yield | 2.07% | - | - | -7.65% | - | -0.04% | 2.91% | 9.34% |
| Price to Book | 1.2 x | 1.09 x | 1.05 x | 0.88 x | 0.93 x | 0.9 x | 0.91 x | 0.89 x |
| Nbr of stocks (in thousands) | 1,313,764 | 1,313,764 | 1,458,501 | 1,585,784 | 1,585,858 | 1,586,353 | - | - |
| Reference price 2 | 1.770 | 1.570 | 1.600 | 1.370 | 1.290 | 1.160 | 1.160 | 1.160 |
| Announcement Date | 8/15/19 | 8/12/20 | 8/12/21 | 8/18/22 | 8/23/23 | - | - | - |
1NZD in Million2NZD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 135.8 | 105.8 | 199.8 | 200.3 | 218.9 | 154.6 | 168.5 | 174.1 |
| EBITDA 1 | 79.5 | - | 110.2 | 119.2 | 149.6 | 146.4 | 157.9 | 162.9 |
| EBIT 1 | 79.2 | 92.5 | 110.2 | 108.3 | 132.9 | 146.2 | 165.4 | 181.5 |
| Operating Margin | 58.32% | 87.43% | 55.16% | 54.07% | 60.71% | 94.52% | 98.18% | 104.25% |
| Earnings before Tax (EBT) 1 | 201.4 | - | 146 | 129.3 | - | -70.4 | -23.9 | 142 |
| Net income 1 | 189.9 | 30.2 | 187.7 | 110 | -153.1 | -89.92 | 100.6 | 148.1 |
| Net margin | 139.84% | 28.54% | 93.94% | 54.92% | -69.94% | -58.15% | 59.72% | 85.08% |
| EPS 2 | 0.1523 | 0.0230 | 0.1426 | 0.0706 | -0.0965 | -0.0631 | 0.0631 | 0.0982 |
| Free Cash Flow 1 | 63.8 | - | - | -263 | - | -1.1 | 90.3 | 289.5 |
| FCF margin | 46.98% | - | - | -131.3% | - | -0.71% | 53.59% | 166.31% |
| FCF Conversion (EBITDA) | 80.25% | - | - | - | - | - | 57.19% | 177.68% |
| FCF Conversion (Net income) | 33.6% | - | - | - | - | - | 89.73% | 195.48% |
| Dividend per Share 2 | 0.0600 | 0.0630 | 0.0650 | 0.0670 | 0.0670 | 0.0670 | 0.0662 | 0.0662 |
| Announcement Date | 8/15/19 | 8/12/20 | 8/12/21 | 8/18/22 | 8/23/23 | - | - | - |
1NZD in Million2NZD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2024 S1 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 54 | 51.8 | 62.5 | 137.3 | 62 | 138.3 | 71.1 | 73.8 |
| EBITDA 1 | - | - | - | - | 56.5 | - | 66.6 | 75.4 |
| EBIT | - | - | - | - | 51.2 | 57.1 | - | - |
| Operating Margin | - | - | - | - | 82.58% | 41.29% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | - | - | 0.0300 | - | 0.0335 | - | 0.0335 | 0.0338 |
| Announcement Date | 2/20/20 | 8/12/20 | 3/28/21 | 8/12/21 | 2/23/22 | 8/18/22 | 2/23/23 | 2/22/24 |
1NZD in Million2NZD
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 752 | 1,151 | 1,088 | 1,264 | 1,242 | 1,261 | 1,259 | 1,261 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 9.453 x | - | 9.871 x | 10.61 x | 8.301 x | 8.614 x | 7.973 x | 7.739 x |
| Free Cash Flow 1 | 63.8 | - | - | -263 | - | -1.1 | 90.3 | 290 |
| ROE (net income / shareholders' equity) | 4.36% | 1.56% | 6.04% | 4.73% | 3.47% | 5.3% | 5.45% | 5.63% |
| ROA (Net income/ Total Assets) | 2.91% | 0.99% | 3.76% | 3.02% | 2.14% | 4.51% | 5.08% | 5.68% |
| Assets 1 | 6,524 | 3,038 | 4,992 | 3,648 | -7,140 | -1,996 | 1,980 | 2,607 |
| Book Value Per Share 2 | 1.470 | 1.440 | 1.520 | 1.560 | 1.380 | 1.280 | 1.270 | 1.310 |
| Cash Flow per Share 2 | 0.0500 | 0.0600 | - | 0.0600 | 0.0700 | 0.0600 | 0.0600 | 0.0700 |
| Capex 1 | 234 | 254 | 225 | 199 | 258 | 193 | 124 | 49.8 |
| Capex / Sales | 172.09% | 240.45% | 112.66% | 99.3% | 117.72% | 124.54% | 73.33% | 28.61% |
| Announcement Date | 8/15/19 | 8/12/20 | 8/12/21 | 8/18/22 | 8/23/23 | - | - | - |
1NZD in Million2NZD
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
C
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
1.16
NZD
Average target price
1.26
NZD
Spread / Average Target
+8.62%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -8.30% | 1.09B | |
| +36.16% | 27.94B | |
| -13.56% | 26.97B | |
| +21.61% | 26.95B | |
| +2.68% | 25.32B | |
| +44.49% | 22.58B | |
| +3.16% | 19.59B | |
| +6.54% | 19.52B | |
| +28.54% | 16.23B | |
| -14.41% | 14.98B |
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- Financials Precinct Properties NZ Ltd & Precinct Properties Investments Ltd
