Company Valuation: Capitec Limited

Data adjusted to current consolidation scope
Fiscal Period: February 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,39,851 2,03,698 2,33,629 3,56,035 5,49,409 5,35,306 - -
Change - -15.07% 14.69% 52.39% 54.31% -2.57% - -
Enterprise Value (EV) 2,39,851 2,03,698 2,33,629 3,56,035 5,49,409 5,35,306 5,35,306 5,35,306
Change - -15.07% 14.69% 52.39% 54.31% -2.57% 0% 0%
P/E 28.2x 20.9x 22.1x 25.9x 32.6x 26.7x 22.5x 19.4x
PBR 6.72x 5.2x - 6.99x 9.23x 7.78x 6.65x 5.71x
PEG - 1.5x 2.49x 0.9x 1.5x 1.4x 1.2x 1.2x
Capitalization / Revenue 8.9x 6.72x 6.48x 8.08x 10.5x 8.87x 7.8x 6.79x
EV / Revenue 0x 0x 0x 0x 0x 8.87x 7.8x 6.79x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 19.1x 15.7x 12.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 36.4 42 48.75 65.1 79.8 94.82 119.3 135.1
Rate of return 1.75% 2.39% 2.42% 2.12% 1.68% 2.05% 2.58% 2.92%
EPS 2 73.6 83.92 91.37 118.8 145.4 172.8 205.1 237.8
Distribution rate 49.5% 50% 53.4% 54.8% 54.9% 54.9% 58.1% 56.8%
Net sales 1 26,961 30,307 36,043 44,067 52,421 60,353 68,665 78,780
EBITDA - - - - - - - -
EBIT 1 14,406 18,431 22,102 25,968 32,183 28,010 34,093 42,296
Net income 1 8,523 9,707 10,567 13,742 16,833 19,757 23,394 27,656
Net Debt - - - - - - - -
Reference price 2 2,074.35 1,754.51 2,017.77 3,074.37 4,743.54 4,621.06 4,621.06 4,621.06
Nbr of stocks (in thousands) 1,15,627 1,16,100 1,15,786 1,15,808 1,15,823 1,15,840 - -
Announcement Date 12/04/22 18/04/23 23/04/24 23/04/25 22/04/26 - - -
1ZAR in Million2ZAR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
27.15x - - 2.02% 3.4TCr
7.36x - - 7.56% 1.19TCr
21.58x - - 0.53% 527.94Cr
12.08x - - 0.98% 401.67Cr
13.41x8.42x29.14x1.65% 378.73Cr
6.84x - - 4.62% 372.26Cr
12.7x - - 0.74% 323.76Cr
12.5x - - 5.89% 317.94Cr
5.04x - - 2.06% 302.43Cr
Average 13.18x 8.42x 29.14x 2.89% 802.14Cr
Weighted average by Cap. 18.65x 8.42x 29.14x 3%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield