Financials Summerset Group Holdings Limited

Equities

SUM

NZSUME0001S0

Healthcare Facilities & Services

End-of-day quote New Zealand S.E. Other stock markets 03:30:00 03/05/2024 am IST			5-day change	1st Jan Change
10.76 ^NZD	+1.51%		-3.06%	+4.98%

24/04	Transcript : Summerset Group Holdings Limited - Shareholder/Analyst Call
09/04	Summerset Group's Occupation Rights Sales Jumps 21% in Q1	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,993	2,839	3,130	2,050	2,397	2,531	-	-
Enterprise Value (EV) ¹	2,579	3,511	3,877	3,085	2,397	4,150	4,329	4,446
P/E ratio	11.5 x	12.4 x	5.78 x	7.61 x	5.48 x	11.8 x	11 x	10.1 x
Yield	1.58%	1.04%	1.35%	2.52%	-	2.23%	2.41%	2.6%
Capitalization / Revenue	12.9 x	16.5 x	15.2 x	8.59 x	8.81 x	7.83 x	6.82 x	5.96 x
EV / Revenue	16.8 x	20.4 x	18.9 x	12.9 x	8.81 x	12.8 x	11.7 x	10.5 x
EV / EBITDA	19.9 x	29.3 x	23.5 x	15.3 x	10.3 x	16.7 x	15.8 x	14.3 x
EV / FCF	-3,27,61,493 x	-	4,30,76,273 x	-	-	-	-	-
FCF Yield	-0%	-	0%	-	-	-	-	-
Price to Book	1.78 x	2.12 x	1.63 x	0.93 x	-	0.85 x	0.78 x	0.71 x
Nbr of stocks (in thousands)	2,23,904	2,26,246	2,28,812	2,31,645	2,33,855	2,35,250	-	-
Reference price ²	8.900	12.55	13.68	8.850	10.25	10.76	10.76	10.76
Announcement Date	24/02/20	22/02/21	23/02/22	23/02/23	25/02/24	-	-	-

¹NZD in Million²NZD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	153.9	172.4	205.3	238.7	272.2	323.3	371.3	424.8
EBITDA ¹	129.4	119.9	164.7	202	233.6	248.2	273.1	310.6
EBIT ¹	121.6	111.8	153.2	188.4	217.8	231.2	256.7	293.3
Operating Margin	78.98%	64.84%	74.59%	78.92%	80.01%	71.53%	69.14%	69.04%
Earnings before Tax (EBT)	173.6	221.7	543.6	265.1	-	-	-	-
Net income ¹	175.3	230.8	543.7	269.1	436.3	281.8	302.1	340.9
Net margin	113.85%	133.84%	264.75%	112.72%	160.29%	87.19%	81.36%	80.23%
EPS ²	0.7752	1.012	2.369	1.164	1.871	0.9130	0.9805	1.063
Free Cash Flow	-78.72	-	90.01	-	-	-	-	-
FCF margin	-51.13%	-	43.83%	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	54.64%	-	-	-	-	-
FCF Conversion (Net income)	-	-	16.56%	-	-	-	-	-
Dividend per Share ²	0.1410	0.1300	0.1850	0.2230	-	0.2400	0.2591	0.2800
Announcement Date	24/02/20	22/02/21	23/02/22	23/02/23	25/02/24	-	-	-

¹NZD in Million²NZD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1
Net sales	-
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income ¹	133.1
Net margin	-
EPS ²	0.5730
Dividend per Share	-
Announcement Date	22/08/23

¹NZD in Million²NZD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	586	671	747	1,035	-	1,619	1,797	1,915
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.528 x	5.599 x	4.535 x	5.125 x	-	6.523 x	6.581 x	6.165 x
Free Cash Flow	-78.7	-	90	-	-	-	-	-
ROE (net income / shareholders' equity)	10.1%	7.91%	8.61%	8.33%	-	7.24%	7.1%	7.36%
ROA (Net income/ Total Assets)	3.48%	2.72%	3.2%	3.19%	-	2.84%	2.72%	2.78%
Assets ¹	5,038	8,488	16,981	8,448	-	9,931	11,114	12,283
Book Value Per Share ²	4.990	5.920	8.390	9.470	-	12.60	13.80	15.20
Cash Flow per Share ²	1.050	-1.160	-2.590	-1.450	-	0.9200	1.020	1.150
Capex ¹	317	237	293	395	-	613	622	636
Capex / Sales	205.66%	137.71%	142.88%	165.4%	-	189.51%	167.51%	149.66%
Announcement Date	24/02/20	22/02/21	23/02/22	23/02/23	25/02/24	-	-	-

¹NZD in Million²NZD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Summerset Group Holdings Limited

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.76 NZD

Average target price

13.14 NZD

Spread / Average Target

+22.14%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Healthcare Facilities & Services

	1st Jan change	Capi.
SUMMERSET GROUP HOLDINGS LIMITED	+4.98%	1.52B
HCA HEALTHCARE, INC.	+13.70%	80.61B
CVS HEALTH CORPORATION	-29.20%	70.18B
DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY	+9.86%	29.12B
LABORATORY CORPORATION OF AMERICA HOLDINGS	-11.43%	16.97B
FRESENIUS SE & CO. KGAA	-0.75%	16.96B
QUEST DIAGNOSTICS INCORPORATED	-0.31%	15.26B
FRESENIUS MEDICAL CARE AG	+2.95%	12.41B
PURE HEALTH HOLDING	-31.05%	11.95B
REDE D'OR SÃO LUIZ S.A.	-6.75%	11.93B

Other Healthcare Facilities & Services