Company Valuation: PPC Ltd

Data adjusted to current consolidation scope
Fiscal Period: March 2024 2025 2026 2027 2028 2029
Market Cap 1 5,025 7,016 9,101 12,278 - -
Change - 39.62% 29.72% 34.9% - -
Enterprise Value (EV) 1 5,025 6,646 8,562 12,643 12,382 11,482
Change - 32.26% 28.83% 47.66% -2.06% -7.27%
P/E - 14.4x 10.6x 12.9x 10.5x 9.31x
PBR - 1.17x 1.42x 1.74x 1.59x 1.47x
PEG - - 0.1x 1.2x 0.5x 0.7x
Capitalization / Revenue 0.5x 0.71x 0.89x 1.19x 1.11x 1.05x
EV / Revenue 0.5x 0.67x 0.83x 1.23x 1.12x 0.98x
EV / EBITDA - 4.17x 4.12x 6.09x 4.77x 4.07x
EV / EBIT - 8.13x 5.81x 14.9x 11.6x 9.02x
EV / FCF - 6.41x 14.8x 8.6x 7.83x 5.47x
FCF Yield - 15.6% 6.75% 11.6% 12.8% 18.3%
Dividend per Share 2 - 0.176 0.302 0.34 0.42 0.48
Rate of return - 3.83% 5.08% 4.24% 5.24% 5.99%
EPS 2 - 0.32 0.56 0.62 0.76 0.86
Distribution rate - 55% 53.9% 54.8% 55.3% 55.8%
Net sales 1 10,058 9,871 10,255 10,281 11,079 11,737
EBITDA 1 - 1,593 2,079 2,077 2,595 2,823
EBIT 1 - 817 1,473 848 1,065 1,273
Net income 1 - 466 830 906 1,116 1,267
Net Debt 1 - -370 -539 365 104 -796
Reference price 2 3.300 4.600 5.940 8.010 8.010 8.010
Nbr of stocks (in thousands) 15,22,707 15,25,210 15,32,194 15,32,821 - -
Announcement Date 30/05/24 09/06/25 06/06/26 - - -
1ZAR in Million2ZAR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.92x1.23x6.09x4.24% 75Cr
18.46x2.54x10.04x2.77% 4.54TCr
24.61x3.33x11.77x-.--% 1.5TCr
12.84x3.47x7.09x5.8% 1.32TCr
13.66x0.58x2.71x4.57% 1.26TCr
43.59x3.3x15.98x0.69% 849.8Cr
8.14x1.17x4.55x2.03% 756.95Cr
22x7.23x13.43x4.38% 756.07Cr
13.53x1.47x5.51x3% 637.56Cr
26.18x1.38x6.72x2.14% 575.41Cr
Average 19.59x 2.57x 8.39x 2.96% 1.23TCr
Weighted average by Cap. 19.51x 2.67x 9.04x 2.84%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

-40%: Exceptional extension
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