Company Valuation: Netcare Limited

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 21,636 18,344 17,968 19,232 17,307 21,186 - -
Change - -15.22% -2.05% 7.03% -10.01% 22.41% - -
Enterprise Value (EV) 1 31,059 27,703 27,988 30,079 28,383 32,539 32,197 31,664
Change - -10.81% 1.03% 7.47% -5.64% 14.65% -1.05% -1.66%
P/E 29.8x 19.1x 14.4x 14.2x 10.7x 11.4x 10.2x 8.92x
PBR 2.18x 1.79x 1.6x 1.76x 1.56x 1.97x 1.82x 1.62x
PEG - 0.6x 0.5x 0.9x 0.5x 0.7x 0.8x 0.6x
Capitalization / Revenue 1.02x 0.85x 0.76x 0.76x 0.66x 0.77x 0.74x 0.7x
EV / Revenue 1.47x 1.28x 1.18x 1.19x 1.08x 1.18x 1.12x 1.05x
EV / EBITDA 9.57x 7.95x 7.01x 6.7x 5.76x 6.2x 5.8x 5.39x
EV / EBIT 15x 12.1x 10.3x 9.52x 7.94x 8.46x 7.8x 7.11x
EV / FCF 26.5x 56.8x 75x 85.9x 34.7x 22.6x 15.1x 14.6x
FCF Yield 3.78% 1.76% 1.33% 1.16% 2.88% 4.42% 6.63% 6.84%
Dividend per Share 2 0.34 0.5 0.65 0.7 0.85 0.971 1.088 1.217
Rate of return 2.1% 3.64% 4.81% 4.54% 5.99% 5.48% 6.14% 6.86%
EPS 2 0.543 0.717 0.935 1.089 1.329 1.549 1.743 1.987
Distribution rate 62.6% 69.7% 69.5% 64.3% 64% 62.7% 62.4% 61.2%
Net sales 1 21,200 21,636 23,699 25,202 26,344 27,580 28,822 30,134
EBITDA 1 3,244 3,485 3,990 4,491 4,928 5,246 5,547 5,879
EBIT 1 2,076 2,282 2,716 3,159 3,575 3,846 4,128 4,452
Net income 1 769 1,013 1,321 1,436 1,681 1,958 2,158 2,494
Net Debt 1 9,423 9,359 10,020 10,847 11,076 11,353 11,011 10,478
Reference price 2 16.20 13.72 13.50 15.41 14.20 17.73 17.73 17.73
Nbr of stocks (in thousands) 13,35,547 13,37,000 13,31,000 12,48,047 12,18,789 11,77,000 - -
Announcement Date 22/11/21 21/11/22 21/11/23 22/11/24 24/11/25 - - -
1ZAR in Million2ZAR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.15x0.4x8.39x2.94% 12TCr
15.88x1.93x9.65x0.66% 10TCr
-278.8x19.19x-327.69x-.--% 5.69TCr
13.3x1.47x8.85x2.68% 2.73TCr
22.96x2.56x13.01x1.42% 2.58TCr
22.78x2.09x12x0.92% 2.57TCr
8.25x1.47x6.66x-.--% 2.19TCr
30.28x5.51x22.87x2.3% 2.06TCr
20.13x1.8x9.06x3.45% 1.9TCr
Average -14.68x 4.05x -26.36x 1.6% 4.61TCr
Weighted average by Cap. -24.11x 4.04x -36.22x 1.58%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Netcare Limited

Historical PBR trend

Valuation ratios - PBR - Netcare Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Netcare Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Netcare Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Netcare Limited