Financials BIM Birlesik Magazalar

Equities

BIMAS

TREBIMM00018

Discount Stores

Market Closed - Borsa Istanbul 08:39:58 03/05/2024 pm IST 5-day change 1st Jan Change
417.2 TRY +3.34% Intraday chart for BIM Birlesik Magazalar +7.96% +38.74%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 26,081 28,332 45,415 36,874 81,845 2,49,098 2,49,098 -
Enterprise Value (EV) 1 25,087 30,947 47,732 42,027 81,845 2,65,053 2,60,461 2,56,777
P/E ratio 20.9 x 22.9 x 17.5 x 12.6 x 10 x 21.4 x 12.5 x 8.96 x
Yield 2.18% - 4.64% 3.26% - 1.91% 3.09% 4.1%
Capitalization / Revenue 0.81 x 0.7 x 0.82 x 0.52 x 0.55 x 0.93 x 0.56 x 0.41 x
EV / Revenue 0.78 x 0.77 x 0.86 x 0.6 x 0.55 x 0.99 x 0.58 x 0.42 x
EV / EBITDA 13.4 x 9.83 x 9.42 x 6.48 x 6.9 x 13 x 7.66 x 5.46 x
EV / FCF 41.2 x 13.4 x 13.8 x 11.6 x - 30.9 x 15.4 x 9.42 x
FCF Yield 2.42% 7.46% 7.25% 8.64% - 3.24% 6.5% 10.6%
Price to Book 7.52 x 6.69 x 6.33 x 4.83 x - 7.82 x 5.15 x 3.71 x
Nbr of stocks (in thousands) 5,99,564 6,07,200 6,01,529 6,01,529 5,97,842 5,97,000 5,97,000 -
Reference price 2 43.50 46.66 75.50 61.30 136.9 417.2 417.2 417.2
Announcement Date 06/03/19 04/03/20 08/03/21 02/03/22 13/03/23 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 32,323 40,212 55,495 70,527 1,47,716 2,66,747 4,45,379 6,07,320
EBITDA 1 1,879 3,149 5,067 6,481 11,867 20,440 33,985 46,991
EBIT 1 1,530 2,066 3,697 4,678 9,274 15,926 26,602 37,049
Operating Margin 4.73% 5.14% 6.66% 6.63% 6.28% 5.97% 5.97% 6.1%
Earnings before Tax (EBT) 1 1,627 1,591 3,352 3,910 8,799 14,507 25,988 37,254
Net income 1 1,250 1,225 2,607 2,932 8,157 11,737 19,730 27,765
Net margin 3.87% 3.05% 4.7% 4.16% 5.52% 4.4% 4.43% 4.57%
EPS 2 2.078 2.035 4.310 4.880 13.64 19.53 33.40 46.58
Free Cash Flow 1 608.3 2,310 3,461 3,630 - 8,581 16,923 27,256
FCF margin 1.88% 5.74% 6.24% 5.15% - 3.22% 3.8% 4.49%
FCF Conversion (EBITDA) 32.38% 73.35% 68.31% 56.02% - 41.98% 49.8% 58%
FCF Conversion (Net income) 48.64% 188.56% 132.78% 123.8% - 73.11% 85.77% 98.17%
Dividend per Share 2 0.9500 - 3.500 2.000 - 7.989 12.89 17.09
Announcement Date 06/03/19 04/03/20 08/03/21 02/03/22 13/03/23 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3
Net sales 1 19,271 17,163 17,457 20,405 27,267 34,030 41,026 45,393 51,335 57,878 74,406 83,236 1,58,358 96,764 1,09,129 1,21,964
EBITDA 1 1,501 1,516 1,510 2,131 2,284 3,182 2,865 3,949 3,138 4,292 6,672 6,581 - 6,811 8,995 7,819
EBIT 1 - 1,068 1,063 1,631 1,728 - 2,199 3,178 2,190 3,239 5,423 5,918 - 5,480 7,475 6,115
Operating Margin - 6.22% 6.09% 8% 6.34% - 5.36% 7% 4.27% 5.6% 7.29% 7.11% - 5.66% 6.85% 5.01%
Earnings before Tax (EBT) 1 - - - - - - - - - - - 4,728 - - - -
Net income 1 562.3 725.2 884 638.7 1,342 1,676 1,775 3,364 1,354 2,845 3,849 3,761 - 4,180 5,706 4,589
Net margin 2.92% 4.23% 5.06% 3.13% 4.92% 4.93% 4.33% 7.41% 2.64% 4.92% 5.17% 4.52% - 4.32% 5.23% 3.76%
EPS 2 - 1.210 1.470 1.070 - - 2.970 5.620 2.270 4.760 6.450 6.767 - 6.990 9.542 7.675
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 06/08/19 12/08/21 08/11/21 02/03/22 09/05/22 17/08/22 08/11/22 13/03/23 08/05/23 17/08/23 07/11/23 - - - - -
1TRY in Million2TRY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - 2,615 2,317 5,153 - 15,955 11,363 7,679
Net Cash position 1 994 - - - - - - -
Leverage (Debt/EBITDA) - 0.8306 x 0.4572 x 0.7951 x - 0.7806 x 0.3343 x 0.1634 x
Free Cash Flow 1 608 2,310 3,461 3,630 - 8,581 16,923 27,256
ROE (net income / shareholders' equity) 38.7% 31.6% 45.7% 39.7% - 40.8% 49.8% 48.2%
ROA (Net income/ Total Assets) 15.7% 10.2% 13.6% 10.9% - 14.3% 14.7% 14.8%
Assets 1 7,987 12,061 19,141 26,921 - 82,108 1,34,097 1,87,701
Book Value Per Share 2 5.780 6.980 11.90 12.70 - 53.40 81.10 112.0
Cash Flow per Share 2 2.590 5.620 7.840 6.160 - 36.50 53.50 73.40
Capex 1 951 1,075 1,283 2,200 - 7,807 12,909 16,879
Capex / Sales 2.94% 2.67% 2.31% 3.12% - 2.93% 2.9% 2.78%
Announcement Date 06/03/19 04/03/20 08/03/21 02/03/22 13/03/23 - - -
1TRY in Million2TRY
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
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
417.2 TRY
Average target price
454.6 TRY
Spread / Average Target
+8.95%
Consensus
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