Company Valuation: Castleview Property Fund Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 176.3 187.1 291.4 8,367 8,072 9,664
Change - 6.09% 55.78% 2,771.46% -3.53% 19.72%
Enterprise Value (EV) 1 338.3 373 10,960 18,911 18,746 19,267
Change - 10.25% 2,838.42% 72.54% -0.87% 2.78%
P/E -7.83x 9.89x 2.26x 129x 5.88x 6.2x
PBR 1.15x 1.08x 0.83x 0.98x 0.86x 0.92x
PEG - -0x 0x -1.3x 0x 0.6x
Capitalization / Revenue 3.55x 3.25x 0.18x 3.38x 3.15x 3.72x
EV / Revenue 6.82x 6.47x 6.82x 7.64x 7.31x 7.43x
EV / EBITDA 12.9x - - - - -
EV / EBIT 12.9x 12.5x 11.9x 18.8x 14.8x 14.9x
EV / FCF 58.6x 28.3x -15.5x -12.8x 10.3x -127x
FCF Yield 1.71% 3.53% -6.45% -7.82% 9.73% -0.79%
Dividend per Share 2 0.266 0.4474 0.1485 0.5282 0.3856 0.6713
Rate of return 5.32% 8.95% 2.09% 6.21% 4.7% 7.04%
EPS 2 -0.6382 0.5057 3.138 0.0661 1.395 1.538
Distribution rate -41.7% 88.5% 4.73% 799% 27.6% 43.6%
Net sales 1 49.61 57.62 1,608 2,476 2,564 2,594
EBITDA 1 26.33 - - - - -
EBIT 1 26.22 29.81 918.2 1,005 1,269 1,295
Net income 1 -22.25 18.6 1,780 64.91 1,373 1,544
Net Debt 1 162 185.9 10,668 10,543 10,673 9,603
Reference price 2 5.000 5.000 7.100 8.500 8.200 9.540
Nbr of stocks (in thousands) 35,265 37,411 41,043 9,84,411 9,84,411 10,12,965
Announcement Date 30/06/21 31/05/22 01/08/23 28/06/24 27/06/25 26/06/26
1ZAR in Million2ZAR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 58Cr
36.9x15.79x20.3x3.83% 7.64TCr
31.58x11.73x16.24x4.03% 1.75TCr
32.87x12.28x18.06x3.75% 1.48TCr
15.77x11.29x16.42x6.36% 1.3TCr
26.83x10.35x15.15x3.93% 971.56Cr
41.37x16.13x19.44x3.97% 964.01Cr
23.84x14.63x16.1x4.97% 929.36Cr
12.43x17.46x19.19x4.57% 867.77Cr
-193.62x12.7x19.56x2.64% 776.33Cr
Average 3.11x 13.60x 17.83x 4.23% 1.67TCr
Weighted average by Cap. 21.28x 14.28x 18.70x 4.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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