ABOITIZ POWER CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 37.3 PHP | +0.40% |
|
+0.95% | -1.32% |
| 26/04 | Aboitiz Power Corporation Announces Management Changes | CI |
| 26/04 | Aboitiz Power Corporation Announces CEO Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,51,664 | 1,95,371 | 2,18,551 | 2,50,560 | 2,72,381 | 2,68,778 | - | - |
| Enterprise Value (EV) 1 | 4,47,327 | 3,84,999 | 3,95,858 | 4,34,193 | 2,72,381 | 4,50,956 | 4,43,505 | 4,36,212 |
| P/E ratio | 14.6 x | 15.5 x | 10.5 x | 9.1 x | 8.36 x | 7.75 x | 8.04 x | 6.48 x |
| Yield | 4.3% | 4.44% | 2.86% | 5.49% | - | 6.2% | 5.94% | 6.87% |
| Capitalization / Revenue | 2 x | 1.77 x | 1.99 x | 1.29 x | 1.32 x | 1.29 x | 1.28 x | 1.09 x |
| EV / Revenue | 3.56 x | 3.49 x | 3.6 x | 2.24 x | 1.32 x | 2.17 x | 2.11 x | 1.77 x |
| EV / EBITDA | 10.4 x | 8.86 x | 7.85 x | 7.78 x | 4.01 x | 9.06 x | 8.4 x | 7.87 x |
| EV / FCF | 220 x | 14.6 x | 14.1 x | 20.5 x | - | 16 x | 13.5 x | 11.9 x |
| FCF Yield | 0.45% | 6.84% | 7.08% | 4.88% | - | 6.26% | 7.38% | 8.42% |
| Price to Book | 2 x | 1.54 x | 1.48 x | 1.46 x | - | 1.43 x | 1.3 x | 1.26 x |
| Nbr of stocks (in thousands) | 73,58,604 | 73,58,604 | 73,58,604 | 73,58,604 | 72,05,854 | 72,05,854 | - | - |
| Reference price 2 | 34.20 | 26.55 | 29.70 | 34.05 | 37.80 | 37.30 | 37.30 | 37.30 |
| Announcement Date | 12/03/20 | 09/03/21 | 09/03/22 | 19/03/23 | 12/03/24 | - | - | - |
1PHP in Million2PHP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,25,635 | 1,10,377 | 1,10,043 | 1,93,994 | 2,07,100 | 2,08,180 | 2,10,021 | 2,45,924 |
| EBITDA 1 | 43,032 | 43,452 | 50,401 | 55,813 | 67,914 | 49,764 | 52,772 | 55,456 |
| EBIT 1 | 30,082 | 32,426 | 39,115 | 43,960 | 31,785 | 36,488 | 38,676 | 39,973 |
| Operating Margin | 23.94% | 29.38% | 35.55% | 22.66% | 15.35% | 17.53% | 18.42% | 16.25% |
| Earnings before Tax (EBT) 1 | 23,397 | 20,883 | 24,656 | 32,712 | 43,742 | 44,777 | 42,451 | 55,037 |
| Net income 1 | 17,323 | 12,578 | 20,837 | 27,535 | 33,102 | 35,423 | 34,152 | 42,383 |
| Net margin | 13.79% | 11.4% | 18.94% | 14.19% | 15.98% | 17.02% | 16.26% | 17.23% |
| EPS 2 | 2.350 | 1.710 | 2.830 | 3.740 | 4.520 | 4.814 | 4.641 | 5.757 |
| Free Cash Flow 1 | 2,029 | 26,353 | 28,045 | 21,199 | - | 28,244 | 32,737 | 36,713 |
| FCF margin | 1.62% | 23.88% | 25.49% | 10.93% | - | 13.57% | 15.59% | 14.93% |
| FCF Conversion (EBITDA) | 4.72% | 60.65% | 55.64% | 37.98% | - | 56.76% | 62.03% | 66.2% |
| FCF Conversion (Net income) | 11.72% | 209.52% | 134.59% | 76.99% | - | 79.73% | 95.86% | 86.62% |
| Dividend per Share 2 | 1.470 | 1.180 | 0.8500 | 1.870 | - | 2.313 | 2.215 | 2.561 |
| Announcement Date | 12/03/20 | 09/03/21 | 09/03/22 | 19/03/23 | 12/03/24 | - | - | - |
1PHP in Million2PHP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 33,250 | 16,441 | - | 58,101 | 48,741 | 57,523 | 48,375 |
| EBITDA | - | - | - | - | - | - | - |
| EBIT 1 | 8,022 | 9,237 | - | 11,469 | 12,760 | 9,880 | 7,945 |
| Operating Margin | 24.13% | 56.18% | - | 19.74% | 26.18% | 17.18% | 16.42% |
| Earnings before Tax (EBT) 1 | 6,793 | 6,024 | - | 9,210 | 9,779 | 13,149 | 11,241 |
| Net income 1 | 5,553 | 5,150 | - | 8,024 | 7,527 | 10,288 | 8,922 |
| Net margin | 16.7% | 31.32% | - | 13.81% | 15.44% | 17.89% | 18.44% |
| EPS 2 | 0.7500 | 0.7000 | - | 1.090 | 1.020 | 1.400 | 1.240 |
| Dividend per Share 2 | - | 0.8500 | - | 1.870 | - | - | - |
| Announcement Date | 15/11/21 | 09/03/22 | 27/04/22 | 19/03/23 | 16/05/23 | 14/08/23 | 15/11/23 |
1PHP in Million2PHP
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,95,663 | 1,89,628 | 1,77,307 | 1,83,633 | - | 1,82,178 | 1,74,727 | 1,67,434 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.547 x | 4.364 x | 3.518 x | 3.29 x | - | 3.661 x | 3.311 x | 3.019 x |
| Free Cash Flow 1 | 2,029 | 26,353 | 28,045 | 21,199 | - | 28,244 | 32,737 | 36,713 |
| ROE (net income / shareholders' equity) | 14% | 9.38% | 15.1% | 16.6% | - | 17.5% | 15.9% | 18% |
| ROA (Net income/ Total Assets) | 4.33% | 3.11% | 5.05% | 5.85% | - | 8.12% | 7.73% | 8.88% |
| Assets 1 | 4,00,069 | 4,04,197 | 4,12,663 | 4,70,324 | - | 4,36,110 | 4,41,925 | 4,77,229 |
| Book Value Per Share 2 | 17.10 | 17.30 | 20.10 | 23.30 | - | 26.20 | 28.70 | 29.50 |
| Cash Flow per Share 2 | 5.350 | 4.320 | 4.940 | 4.650 | - | 5.890 | 6.050 | 6.950 |
| Capex 1 | 37,328 | 5,429 | 8,282 | 13,014 | - | 22,293 | 19,788 | 20,537 |
| Capex / Sales | 29.71% | 4.92% | 7.53% | 6.71% | - | 10.71% | 9.42% | 8.35% |
| Announcement Date | 12/03/20 | 09/03/21 | 09/03/22 | 19/03/23 | 12/03/24 | - | - | - |
1PHP in Million2PHP
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
11
Last Close Price
37.3
PHP
Average target price
43.38
PHP
Spread / Average Target
+16.30%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.32% | 4.7B | |
| +16.67% | 17.38B | |
| +42.72% | 12.9B | |
| -7.30% | 13.17B | |
| +37.96% | 11.83B | |
| +19.42% | 5.31B | |
| +29.38% | 4.46B | |
| +2.06% | 3.8B | |
| +12.47% | 3.61B | |
| +31.36% | 3.4B |
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