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 20,715 - -
Change - -15.22% -2.05% 7.03% -10.01% 19.69% - -
Enterprise Value (EV) 1 31,059 27,703 27,988 30,079 28,383 32,065 31,723 31,189
Change - -10.81% 1.03% 7.47% -5.64% 12.97% -1.06% -1.68%
P/E 29.8x 19.1x 14.4x 14.2x 10.7x 11.4x 10.1x 8.86x
PBR 2.18x 1.79x 1.6x 1.76x 1.56x 1.96x 1.81x 1.61x
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 0.75x 0.72x 0.69x
EV / Revenue 1.47x 1.28x 1.18x 1.19x 1.08x 1.17x 1.1x 1.03x
EV / EBITDA 9.57x 7.95x 7.01x 6.7x 5.76x 6.12x 5.73x 5.32x
EV / EBIT 15x 12.1x 10.3x 9.52x 7.94x 8.35x 7.7x 7.02x
EV / FCF 26.5x 56.8x 75x 85.9x 34.7x 22.3x 14.9x 14.4x
FCF Yield 3.78% 1.76% 1.33% 1.16% 2.88% 4.49% 6.73% 6.94%
Dividend per Share 2 0.34 0.5 0.65 0.7 0.85 0.971 1.096 1.214
Rate of return 2.1% 3.64% 4.81% 4.54% 5.99% 5.52% 6.23% 6.9%
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% 62.9% 61.1%
Net sales 1 21,200 21,636 23,699 25,202 26,344 27,507 28,864 30,161
EBITDA 1 3,244 3,485 3,990 4,491 4,928 5,236 5,537 5,863
EBIT 1 2,076 2,282 2,716 3,159 3,575 3,841 4,122 4,444
Net income 1 769 1,013 1,321 1,436 1,681 1,953 2,155 2,489
Net Debt 1 9,423 9,359 10,020 10,847 11,076 11,350 11,008 10,474
Reference price 2 16.20 13.72 13.50 15.41 14.20 17.60 17.60 17.60
Nbr of stocks (in thousands) 1,335,547 1,337,000 1,331,000 1,248,047 1,218,789 1,177,000 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.36x1.16x6.12x5.51% 1.24B
13.46x0.41x8.52x2.87% 118B
15.69x1.92x9.58x0.67% 101B
-282.1x19.68x-332.74x-.--% 58.36B
14.08x1.54x9.31x2.51% 29.26B
23.11x2.16x12.4x0.88% 26.75B
23.58x2.62x13.28x1.37% 26.73B
8.17x1.46x6.61x-.--% 21.66B
31x5.53x22.57x2.26% 20.89B
16.2x1.5x7.53x4.38% 14.01B
Average -12.54x 3.80x -23.68x 2.04% 41.8B
Weighted average by Cap. -25.27x 4.14x -37.70x 1.57%

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
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