UNITED BANK LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 200.5 PKR | +0.04% |
|
+1.50% | +12.72% |
| Apr. 17 | United Bank Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 17 | United Bank Limited Announces Interim Cash Dividend for the Quarter Ended 31 March 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 201,378 | 154,075 | 167,198 | 123,336 | 217,708 | 245,411 | - | - |
| Enterprise Value (EV) 1 | 201,378 | 154,075 | 167,198 | 123,336 | 217,708 | 245,411 | 245,411 | 245,411 |
| P/E ratio | 10.5 x | 7.36 x | 5.5 x | 3.91 x | 3.95 x | 3.82 x | 3.78 x | 4.14 x |
| Yield | 7.29% | 9.53% | 13.2% | 21.8% | 24.7% | 20.5% | 18.4% | 17.6% |
| Capitalization / Revenue | 3.18 x | 2 x | 2.24 x | 1.14 x | - | 1.8 x | 1.69 x | 1.68 x |
| EV / Revenue | 3.18 x | 2 x | 2.24 x | 1.14 x | - | 1.8 x | 1.69 x | 1.68 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 1.1 x | 0.77 x | 0.76 x | - | - | 0.97 x | 0.89 x | 0.84 x |
| Nbr of stocks (in thousands) | 1,224,180 | 1,224,180 | 1,224,180 | 1,224,180 | 1,224,180 | 1,224,180 | - | - |
| Reference price 2 | 164.5 | 125.9 | 136.6 | 100.8 | 177.8 | 200.5 | 200.5 | 200.5 |
| Announcement Date | 2/19/20 | 2/25/21 | 2/23/22 | 2/22/23 | 2/21/24 | - | - | - |
1PKR in Million2PKR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 63,341 | 77,073 | 74,736 | 107,743 | - | 136,329 | 145,357 | 145,920 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT | 42,267 | 51,133 | 50,376 | - | - | - | - | - |
| Operating Margin | 66.73% | 66.34% | 67.41% | - | - | - | - | - |
| Earnings before Tax (EBT) | 35,731 | 34,382 | 52,167 | 68,435 | - | - | - | - |
| Net income 1 | 19,095 | 20,938 | 30,409 | 31,535 | 55,145 | 65,134 | - | - |
| Net margin | 30.15% | 27.17% | 40.69% | 29.27% | - | 47.78% | - | - |
| EPS 2 | 15.60 | 17.10 | 24.84 | 25.76 | 45.05 | 52.48 | 53.06 | 48.40 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 12.00 | 12.00 | 18.00 | 22.00 | 44.00 | 41.08 | 36.90 | 35.25 |
| Announcement Date | 2/19/20 | 2/25/21 | 2/23/22 | 2/22/23 | 2/21/24 | - | - | - |
1PKR in Million2PKR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | 47,930 | 25,210 | 19,014 | 22,363 | 24,627 | 46,990 | - | 31,829 | 34,947 | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | 25,958 | - | - | - | - | - | - | 17,649 | 25,108 | - | - | 29,094 | - | - |
| Net income | 10,946 | 14,988 | - | - | - | - | - | - | 13,063 | 14,227 | - | - | 14,737 | - | - |
| Net margin | - | 31.27% | - | - | - | - | - | - | 41.04% | 40.71% | - | - | - | - | - |
| EPS 1 | 8.940 | 12.24 | 5.520 | - | - | 2.170 | 9.770 | - | 10.67 | 11.62 | 10.39 | 22.01 | 12.04 | 11.00 | 8.350 |
| Dividend per Share 1 | 2.500 | 8.000 | 4.000 | 6.000 | 5.000 | 4.000 | 9.000 | 4.000 | 9.000 | 11.00 | 11.00 | 22.00 | 11.00 | 11.00 | 10.00 |
| Announcement Date | 8/6/20 | 8/9/21 | 10/20/21 | 2/23/22 | 4/20/22 | 8/3/22 | 8/3/22 | 10/20/22 | 2/22/23 | 4/28/23 | 7/19/23 | 7/19/23 | 10/25/23 | 2/21/24 | - |
1PKR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 13.8% | 10.9% | 14.5% | - | - | 22.1% | 22.7% | 18.7% |
| ROA (Net income/ Total Assets) | 1% | 0.99% | 1.22% | - | - | - | - | - |
| Assets 1 | 1,909,514 | 2,112,381 | 2,491,461 | - | - | - | - | - |
| Book Value Per Share 2 | 150.0 | 163.0 | 179.0 | - | - | 207.0 | 226.0 | 238.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 2/19/20 | 2/25/21 | 2/23/22 | 2/22/23 | 2/21/24 | - | - | - |
1PKR in Million2PKR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Sell
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
200.5
PKR
Average target price
219
PKR
Spread / Average Target
+9.24%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +12.72% | 881M | |
| +16.61% | 210B | |
| +2.39% | 73.14B | |
| +7.99% | 54.82B | |
| +1.36% | 47.1B | |
| +13.25% | 47B | |
| +19.29% | 44.81B | |
| +10.93% | 36.6B | |
| -16.21% | 35.14B | |
| -96.60% | 32.24B |
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- Financials United Bank Limited
