Financials Combined Motor Holdings Limited

Equities

CMH

ZAE000088050

Auto Vehicles, Parts & Service Retailers

End-of-day quote Johannesburg S.E. 03:30:00 09/05/2024 am IST 5-day change 1st Jan Change
27.4 ZAR +1.48% Intraday chart for Combined Motor Holdings Limited +6.41% +1.48%

Valuation

Fiscal Period: February 2019 2020 2021 2022 2023 2024
Capitalization 1 1,571 1,376 1,159 2,094 2,145 1,982
Enterprise Value (EV) 1 1,696 1,996 1,499 2,627 3,250 2,994
P/E ratio 6.94 x 7.22 x 6.87 x 5.74 x 4.99 x 4.94 x
Yield 8.38% 3.32% 14.5% 12% 14.2% -
Capitalization / Revenue 0.14 x 0.12 x 0.14 x 0.19 x 0.17 x 0.15 x
EV / Revenue 0.15 x 0.18 x 0.17 x 0.24 x 0.26 x 0.23 x
EV / EBITDA 3.04 x 3.5 x 3.47 x 3.59 x 3.21 x 3.64 x
EV / FCF 5.42 x 6.15 x 7.61 x 5.52 x 8.1 x 7.7 x
FCF Yield 18.5% 16.3% 13.1% 18.1% 12.3% 13%
Price to Book 2 x 1.69 x 1.28 x 1.89 x 1.7 x 1.45 x
Nbr of stocks (in thousands) 74,802 74,802 74,802 74,802 74,802 74,802
Reference price 2 21.00 18.40 15.50 27.99 28.68 26.50
Announcement Date 03/05/19 23/06/20 05/05/21 03/05/22 03/05/23 08/05/24
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: February 2019 2020 2021 2022 2023 2024
Net sales 1 11,155 11,156 8,580 11,168 12,434 12,840
EBITDA 1 558.9 570 431.7 731.4 1,013 822.4
EBIT 1 411.4 417.4 341.6 605.8 787 781.2
Operating Margin 3.69% 3.74% 3.98% 5.42% 6.33% 6.08%
Earnings before Tax (EBT) 1 312 262.8 234.3 510.4 620.4 557
Net income 1 228.2 190.5 168.8 374.9 443.5 408.5
Net margin 2.05% 1.71% 1.97% 3.36% 3.57% 3.18%
EPS 2 3.024 2.547 2.256 4.876 5.748 5.359
Free Cash Flow 1 313.1 324.6 197 475.7 401 389.1
FCF margin 2.81% 2.91% 2.3% 4.26% 3.22% 3.03%
FCF Conversion (EBITDA) 56.02% 56.96% 45.64% 65.04% 39.59% 47.31%
FCF Conversion (Net income) 137.22% 170.4% 116.74% 126.88% 90.42% 95.25%
Dividend per Share 2 1.760 0.6100 2.250 3.350 4.080 -
Announcement Date 03/05/19 23/06/20 05/05/21 03/05/22 03/05/23 08/05/24
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: February 2022 S2
Net sales -
EBITDA -
EBIT -
Operating Margin -
Earnings before Tax (EBT) -
Net income 1 225.4
Net margin -
EPS 2 2.876
Dividend per Share -
Announcement Date 03/05/22
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: February 2019 2020 2021 2022 2023 2024
Net Debt 1 126 620 340 534 1,105 1,012
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.2248 x 1.088 x 0.7876 x 0.7295 x 1.091 x 1.23 x
Free Cash Flow 1 313 325 197 476 401 389
ROE (net income / shareholders' equity) 30.7% 24.2% 19.6% 37.1% 37.3% 31%
ROA (Net income/ Total Assets) 8.74% 7.2% 6.17% 10.7% 11.2% 9.61%
Assets 1 2,610 2,644 2,737 3,492 3,947 4,251
Book Value Per Share 2 10.50 10.90 12.20 14.80 16.90 18.30
Cash Flow per Share 2 9.040 8.820 10.10 10.90 10.20 10.90
Capex 1 38.9 50.1 87.1 32.2 67.2 49
Capex / Sales 0.35% 0.45% 1.01% 0.29% 0.54% 0.38%
Announcement Date 03/05/19 23/06/20 05/05/21 03/05/22 03/05/23 08/05/24
1ZAR in Million2ZAR
Estimates
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