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 5,19,321 - -
Change - -15.07% 14.69% 52.39% 54.31% -5.48% - -
Enterprise Value (EV) 2,39,851 2,03,698 2,33,629 3,56,035 5,49,409 5,19,321 5,19,321 5,19,321
Change - -15.07% 14.69% 52.39% 54.31% -5.48% 0% 0%
P/E 28.2x 20.9x 22.1x 25.9x 32.6x 25.9x 21.9x 18.9x
PBR 6.72x 5.2x - 6.99x 9.23x 7.55x 6.45x 5.54x
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 8.61x 7.57x 6.6x
EV / Revenue 0x 0x 0x 0x 0x 8.61x 7.57x 6.6x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 17.7x 15.2x 12.3x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 36.4 42 48.75 65.1 79.8 94.79 119.3 135
Rate of return 1.75% 2.39% 2.42% 2.12% 1.68% 2.11% 2.66% 3.01%
EPS 2 73.6 83.92 91.37 118.8 145.4 172.8 204.7 237.8
Distribution rate 49.5% 50% 53.4% 54.8% 54.9% 54.8% 58.3% 56.8%
Net sales 1 26,961 30,307 36,043 44,067 52,421 60,331 68,629 78,721
EBITDA - - - - - - - -
EBIT 1 14,406 18,431 22,102 25,968 32,183 29,402 34,110 42,208
Net income 1 8,523 9,707 10,567 13,742 16,833 19,773 23,359 27,392
Net Debt - - - - - - - -
Reference price 2 2,074.35 1,754.51 2,017.77 3,074.37 4,743.54 4,483.07 4,483.07 4,483.07
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.94x - - 2.11% 3.19TCr
7.05x - - 7.89% 1.12TCr
21.38x - - 0.53% 542.93Cr
8.15x - - 3.89% 447.14Cr
12.23x - - 0.97% 406.68Cr
12.13x8.26x28.57x1.82% 342.62Cr
12.49x - - 5.89% 312.53Cr
12.15x - - 0.78% 308.04Cr
5.22x - - 1.99% 311.35Cr
Average 12.97x 8.26x 28.57x 2.87% 775.9Cr
Weighted average by Cap. 17.81x 8.26x 28.57x 3.06%

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

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