MARCOPOLO S.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.96 BRL | -1.28% |
|
-2.38% | +18.47% |
| 27/02 | Transcript : Marcopolo S.A., Q4 2023 Earnings Call, Feb 27, 2024 | |
| 27/02 | Marcopolo S.A. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,224 | 2,645 | 2,678 | 2,514 | 6,142 | 7,220 | - | - |
| Enterprise Value (EV) 1 | 4,953 | 3,629 | 3,677 | 3,711 | 7,026 | 8,283 | 7,511 | 7,103 |
| P/E ratio | 21.3 x | 26.2 x | 7.88 x | 5.97 x | 8.18 x | 7.57 x | 7.75 x | 6.63 x |
| Yield | 1.33% | 1.67% | - | 3.25% | 3.4% | 5.66% | 6.1% | 7.2% |
| Capitalization / Revenue | 0.98 x | 0.74 x | 0.77 x | 0.46 x | 0.92 x | 0.78 x | 0.71 x | 0.7 x |
| EV / Revenue | 1.15 x | 1.01 x | 1.05 x | 0.69 x | 1.05 x | 0.89 x | 0.74 x | 0.69 x |
| EV / EBITDA | 14.7 x | 13.5 x | 11 x | 9.62 x | 7.42 x | 5.54 x | 4.49 x | 4.34 x |
| EV / FCF | 20.9 x | 80.1 x | 41.7 x | -82.5 x | 7.75 x | 17.4 x | 6.74 x | 7.67 x |
| FCF Yield | 4.79% | 1.25% | 2.4% | -1.21% | 12.9% | 5.76% | 14.8% | 13% |
| Price to Book | 1.88 x | 1.07 x | 0.99 x | 0.85 x | 1.88 x | 1.85 x | 1.79 x | 1.44 x |
| Nbr of stocks (in thousands) | 11,31,808 | 11,27,298 | 11,27,625 | 11,28,474 | 11,29,791 | 11,29,815 | - | - |
| Reference price 2 | 3.750 | 2.392 | 2.542 | 2.358 | 5.875 | 6.960 | 6.960 | 6.960 |
| Announcement Date | 27/02/20 | 25/02/21 | 25/02/22 | 28/02/23 | 27/02/24 | - | - | - |
1BRL in Million2BRL
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,315 | 3,590 | 3,499 | 5,416 | 6,683 | 9,266 | 10,155 | 10,362 |
| EBITDA 1 | 338 | 268.5 | 333.5 | 385.6 | 946.9 | 1,496 | 1,673 | 1,636 |
| EBIT 1 | 251.6 | 172.5 | 228 | 265.8 | 800.6 | 1,334 | 1,433 | 1,450 |
| Operating Margin | 5.83% | 4.8% | 6.52% | 4.91% | 11.98% | 14.4% | 14.11% | 13.99% |
| Earnings before Tax (EBT) 1 | 245.2 | 48.69 | 382.9 | 413.3 | 865.6 | 1,378 | 1,460 | 1,530 |
| Net income 1 | 201.4 | 103.9 | 366.6 | 449.1 | 816.2 | 1,140 | 1,181 | 1,193 |
| Net margin | 4.67% | 2.89% | 10.48% | 8.29% | 12.21% | 12.3% | 11.63% | 11.51% |
| EPS 2 | 0.1764 | 0.0914 | 0.3227 | 0.3952 | 0.7183 | 0.9199 | 0.8980 | 1.050 |
| Free Cash Flow 1 | 237.3 | 45.33 | 88.17 | -44.96 | 907.2 | 477 | 1,114 | 926 |
| FCF margin | 5.5% | 1.26% | 2.52% | -0.83% | 13.57% | 5.15% | 10.97% | 8.94% |
| FCF Conversion (EBITDA) | 70.21% | 16.88% | 26.44% | - | 95.8% | 31.88% | 66.59% | 56.59% |
| FCF Conversion (Net income) | 117.84% | 43.65% | 24.05% | - | 111.15% | 41.85% | 94.29% | 77.61% |
| Dividend per Share 2 | 0.0500 | 0.0400 | - | 0.0767 | 0.2000 | 0.3939 | 0.4244 | 0.5012 |
| Announcement Date | 27/02/20 | 25/02/21 | 25/02/22 | 28/02/23 | 27/02/24 | - | - | - |
1BRL in Million2BRL
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 757.6 | 1,084 | 958.6 | 1,152 | 1,516 | 1,789 | 1,654 | 1,364 | 1,615 | 2,050 | 1,706 |
| EBITDA 1 | 95.14 | 74.4 | 51.3 | 51.61 | 90.5 | 192.2 | 292.8 | 158 | 208.6 | 287.4 | 296.5 |
| EBIT | 71.16 | 47.08 | - | 22.64 | - | 159.8 | - | - | - | - | - |
| Operating Margin | 9.39% | 4.34% | - | 1.97% | - | 8.93% | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | 276.8 | - | - | - | - | - |
| Net income 1 | 107.1 | 68.46 | 99.39 | 32.74 | 59.11 | 257.9 | 240 | 139 | 159.9 | 277.3 | 260 |
| Net margin | 14.13% | 6.31% | 10.37% | 2.84% | 3.9% | 14.42% | 14.51% | 10.19% | 9.9% | 13.53% | 15.24% |
| EPS | 0.0960 | 0.0602 | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 02/11/21 | 25/02/22 | 07/05/22 | 01/08/22 | 03/11/22 | 28/02/23 | 02/05/23 | 01/08/23 | 31/10/23 | 27/02/24 | - |
1BRL in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 729 | 984 | 999 | 1,197 | 884 | 1,063 | 291 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 117 |
| Leverage (Debt/EBITDA) | 2.156 x | 3.665 x | 2.995 x | 3.104 x | 0.9336 x | 0.7105 x | 0.174 x | - |
| Free Cash Flow 1 | 237 | 45.3 | 88.2 | -45 | 907 | 477 | 1,114 | 926 |
| ROE (net income / shareholders' equity) | 9.2% | 3.6% | 13.4% | 14.8% | 24.3% | 29.8% | 24.8% | 23% |
| ROA (Net income/ Total Assets) | 3.89% | 1.88% | 5.86% | 6.39% | 10.6% | 13.9% | 12.4% | 12.1% |
| Assets 1 | 5,171 | 5,527 | 6,257 | 7,025 | 7,677 | 8,193 | 9,547 | 9,880 |
| Book Value Per Share 2 | 2.000 | 2.240 | 2.560 | 2.780 | 3.120 | 3.770 | 3.880 | 4.830 |
| Cash Flow per Share | 0.3600 | 0.1600 | 0.1700 | - | - | - | - | - |
| Capex 1 | 177 | 130 | 100 | 90.3 | 154 | 190 | 223 | 233 |
| Capex / Sales | 4.11% | 3.63% | 2.86% | 1.67% | 2.3% | 2.05% | 2.2% | 2.25% |
| Announcement Date | 27/02/20 | 25/02/21 | 25/02/22 | 28/02/23 | 27/02/24 | - | - | - |
1BRL in Million2BRL
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
C
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
6.96
BRL
Average target price
9.733
BRL
Spread / Average Target
+39.85%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +18.47% | 1.41B | |
| +26.00% | 1.09B | |
| -15.19% | 572M | |
| -9.00% | 491M | |
| -41.78% | 191M | |
| -10.77% | 103M | |
| -.--% | 87.85M |
- Stock Market
- Equities
- POMO4 Stock
- Financials Marcopolo S.A.
