Financials TBC Bank Group PLC

Equities

TBCG

GB00BYT18307

Banks

Real-time Estimate Cboe Europe Other stock markets 03:49:25 28/06/2024 pm IST			5-day change	1st Jan Change
2,575 ^GBX	+0.59%		+0.74%	-8.70%

17/05	Georgia Capital ramps up buybacks amid significant cash flow progress	AN
13/05	TBC Bank announces results of tender offer	AN

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	717	679.7	899.5	1,237	1,536	4,928	-	-
Enterprise Value (EV) ¹	717	679.7	899.5	1,237	1,536	4,928	4,928	4,928
P/E ratio	1.33 x	2.17 x	1.15 x	1.27 x	1.38 x	4.11 x	3.38 x	2.89 x
Yield	-	-	22.2%	24%	25.5%	8.36%	9.85%	10.8%
Capitalization / Revenue	0.64 x	0.59 x	0.62 x	0.6 x	0.65 x	1.78 x	1.49 x	1.28 x
EV / Revenue	0.64 x	0.59 x	0.62 x	0.6 x	0.65 x	1.78 x	1.49 x	1.28 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.27 x	0.23 x	0.25 x	0.32 x	-	-	-	-
Nbr of stocks (in thousands)	55,156	54,378	54,515	54,488	54,268	53,947	-	-
Reference price ²	13.00	12.50	16.50	22.70	28.30	91.35	91.35	91.35
Announcement Date	20/02/20	19/02/21	18/02/22	22/02/23	16/02/24	-	-	-

¹GEL in Million²GEL

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,128	1,156	1,452	2,071	2,374	2,768	3,297	3,837
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	677.5	671	906.2	1,379	1,515	1,605	1,826	2,348
Operating Margin	60.05%	58.06%	62.41%	66.62%	63.81%	57.97%	55.39%	61.21%
Earnings before Tax (EBT) ¹	585.5	319.1	921.4	1,247	1,334	1,463	1,805	2,138
Net income ¹	537.9	317.8	800.8	995.2	1,124	1,244	1,536	1,738
Net margin	47.68%	27.5%	55.15%	48.06%	47.36%	44.96%	46.61%	45.31%
EPS ²	9.760	5.760	14.30	17.86	20.58	22.21	27.03	31.64
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	3.660	5.450	7.220	7.637	8.996	9.883
Announcement Date	20/02/20	19/02/21	18/02/22	22/02/23	16/02/24	-	-	-

¹GEL in Million²GEL

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 S2	2022 Q1	2022 Q3
Net sales	-	408.5	-
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	248.1	-
Net income ¹	-	224	319
Net margin	-	54.83%	-
EPS	-	-	-
Dividend per Share	2.160	-	-
Announcement Date	18/02/22	18/05/22	04/11/22

¹GEL in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	22.6%	11.7%	24.4%	27%	26.5%	25.1%	25.2%	25.3%
ROA (Net income/ Total Assets)	3.3%	1.6%	3.4%	3.8%	-	-	-	-
Assets ¹	16,300	19,860	23,552	26,190	-	-	-	-
Book Value Per Share	47.90	53.80	66.80	71.00	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	20/02/20	19/02/21	18/02/22	22/02/23	16/02/24	-	-	-

¹GEL in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for TBC Bank Group PLC

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

91.35 GEL

Average target price

133.6 GEL

Spread / Average Target

+46.20%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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