Financials Netcare Limited Johannesburg S.E.
Stocks
NTCP
ZAE000081121
Healthcare Facilities & Services
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End-of-day quote
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5-day change | 1st Jan Change | ||
| 93.00 ZAR | 0.00% |
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+1.09% | -3.30% |
| 25/05 | Netcare Limited, H1 2026 Earnings Call, May 25, 2026 | |
| 25/05 | Netcare Limited Reports Earnings Results for the Half Year Ended March 31, 2026 | CI |
Projected Income Statement: Netcare Limited
| Fiscal Period: September | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 21,200 | 21,636 | 23,699 | 25,202 | 26,344 | 27,568 | 28,869 | 30,168 |
| Change | - | 2.06% | 9.54% | 6.34% | 4.53% | 4.65% | 4.72% | 4.5% |
| EBITDA 1 | 3,244 | 3,485 | 3,990 | 4,491 | 4,928 | 5,232 | 5,553 | 5,864 |
| Change | - | 7.43% | 14.49% | 12.56% | 9.73% | 6.16% | 6.13% | 5.61% |
| EBIT 1 | 2,076 | 2,282 | 2,716 | 3,159 | 3,575 | 3,833 | 4,124 | 4,425 |
| Change | - | 9.92% | 19.02% | 16.31% | 13.17% | 7.22% | 7.6% | 7.29% |
| Interest Paid 1 | -1,019 | -885 | -920 | -1,064 | -1,085 | -1,075 | -1,055 | -942 |
| Earnings before Tax (EBT) 1 | 1,176 | 1,534 | 1,807 | 2,138 | 2,523 | 2,810 | 3,152 | 3,549 |
| Change | - | 30.44% | 17.8% | 18.32% | 18.01% | 11.39% | 12.15% | 12.6% |
| Net income 1 | 769 | 1,013 | 1,321 | 1,436 | 1,681 | 1,958 | 2,176 | 2,480 |
| Change | - | 31.73% | 30.4% | 8.71% | 17.06% | 16.5% | 11.09% | 13.98% |
| Announcement Date | 22/11/21 | 21/11/22 | 21/11/23 | 22/11/24 | 24/11/25 | - | - | - |
Forecast Balance Sheet: Netcare Limited
| Fiscal Period: September | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 9,423 | 9,359 | 10,020 | 10,847 | 11,076 | 11,324 | 10,970 | 10,349 |
| Change | - | -0.68% | 7.06% | 8.25% | 2.11% | 2.24% | -3.13% | -5.66% |
| Announcement Date | 22/11/21 | 21/11/22 | 21/11/23 | 22/11/24 | 24/11/25 | - | - | - |
Cash Flow Forecast: Netcare Limited
| Fiscal Period: September | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| CAPEX 1 | 1,132 | 1,396 | 1,507 | 1,519 | 1,630 | 1,937 | 1,728 | 1,186 |
| Change | - | 23.32% | 7.95% | 0.8% | 7.31% | 18.83% | -10.79% | -31.39% |
| Free Cash Flow (FCF) 1 | 1,173 | 488 | 373 | 350 | 817 | 1,356 | 2,026 | 2,194 |
| Change | - | -58.4% | -23.57% | -6.17% | 133.43% | 65.97% | 49.39% | 8.33% |
| Announcement Date | 22/11/21 | 21/11/22 | 21/11/23 | 22/11/24 | 24/11/25 | - | - | - |
Forecast Financial Ratios: Netcare Limited
| Fiscal Period: September | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
Profitability | ||||||||
| EBITDA Margin (%) | 15.3% | 16.11% | 16.84% | 17.82% | 18.71% | 18.98% | 19.23% | 19.44% |
| EBIT Margin (%) | 9.79% | 10.55% | 11.46% | 12.53% | 13.57% | 13.9% | 14.29% | 14.67% |
| EBT Margin (%) | 5.55% | 7.09% | 7.62% | 8.48% | 9.58% | 10.19% | 10.92% | 11.76% |
| Net margin (%) | 3.63% | 4.68% | 5.57% | 5.7% | 6.38% | 7.1% | 7.54% | 8.22% |
| FCF margin (%) | 5.53% | 2.26% | 1.57% | 1.39% | 3.1% | 4.92% | 7.02% | 7.27% |
| FCF / Net Income (%) | 152.54% | 48.17% | 28.24% | 24.37% | 48.6% | 69.24% | 93.11% | 88.5% |
Profitability | ||||||||
| ROA | - | 3.9% | 4.89% | 5.34% | 5.84% | 6.12% | 6.09% | 5.9% |
| ROE | 8.07% | 11.03% | 12.06% | 13.66% | 15.42% | 16.55% | 17.17% | 16.34% |
Financial Health | ||||||||
| Leverage (Debt/EBITDA) | 2.9x | 2.69x | 2.51x | 2.42x | 2.25x | 2.16x | 1.98x | 1.76x |
| Debt / Free cash flow | 8.03x | 19.18x | 26.86x | 30.99x | 13.56x | 8.35x | 5.42x | 4.72x |
Capital Intensity | ||||||||
| CAPEX / Current Assets (%) | 5.34% | 6.45% | 6.36% | 6.03% | 6.19% | 7.03% | 5.99% | 3.93% |
| CAPEX / EBITDA (%) | 34.9% | 40.06% | 37.77% | 33.82% | 33.08% | 37.03% | 31.12% | 20.22% |
| CAPEX / FCF (%) | 96.5% | 286.07% | 404.02% | 434% | 199.51% | 142.85% | 85.31% | 54.02% |
Items per share | ||||||||
| Cash flow per share 1 | 1.715 | 1.398 | 1.398 | 1.44 | 1.964 | 2.318 | 2.629 | 2.922 |
| Change | - | -18.51% | 0.03% | 3% | 36.39% | 18.01% | 13.46% | 11.14% |
| Dividend per Share 1 | 0.34 | 0.5 | 0.65 | 0.7 | 0.85 | 0.9742 | 1.097 | 1.221 |
| Change | - | 47.06% | 30% | 7.69% | 21.43% | 14.61% | 12.56% | 11.38% |
| Book Value Per Share 1 | 7.429 | 7.656 | 8.441 | 8.753 | 9.121 | 8.977 | 9.74 | 10.98 |
| Change | - | 3.06% | 10.25% | 3.7% | 4.2% | -1.58% | 8.5% | 12.75% |
| EPS 1 | 0.543 | 0.717 | 0.935 | 1.089 | 1.329 | 1.55 | 1.754 | 1.974 |
| Change | - | 32.04% | 30.4% | 16.47% | 22.04% | 16.6% | 13.18% | 12.55% |
| Nbr of stocks (in thousands) | 13,35,547 | 13,37,000 | 13,31,000 | 12,48,047 | 12,18,789 | 11,77,000 | 11,77,000 | 11,77,000 |
| Announcement Date | 22/11/21 | 21/11/22 | 21/11/23 | 22/11/24 | 24/11/25 | - | - | - |
| 2026 * | 2027 * | |
|---|---|---|
| P/E | 11.5x | 10.2x |
| PBR | 1.99x | 1.84x |
| EV / Sales | 1.17x | 1.11x |
| Yield | 5.45% | 6.13% |
EPS & Dividend
Y-o-Y evolution of P/E
Year-on-year evolution of the Yield
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Quarterly revenue - Rate of surprise
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