TIGER BRANDS LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 195 ZAR | -0.36% |
|
-2.01% | -3.12% |
| May. 27 | Transcript : Tiger Brands Limited, H1 2024 Earnings Call, May 27, 2024 | |
| May. 27 | South Africa's Tiger Brands half-year profit rises 11% | RE |
Valuation
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 34,867 | 31,590 | 31,011 | 26,483 | 23,995 | 30,391 | - | - |
| Enterprise Value (EV) 1 | 33,663 | 30,139 | 29,416 | 26,860 | 24,918 | 32,767 | 33,063 | 33,132 |
| P/E ratio | 9.06 x | 21.5 x | 16.6 x | 9.75 x | 9.03 x | 11.9 x | 10.3 x | 9.15 x |
| Yield | 3.59% | 2.81% | 4.41% | 5.74% | 6.46% | 5.05% | 5.72% | 6.45% |
| Capitalization / Revenue | 1.19 x | 1.06 x | 1 x | 0.78 x | 0.64 x | 0.79 x | 0.74 x | 0.71 x |
| EV / Revenue | 1.15 x | 1.01 x | 0.95 x | 0.79 x | 0.67 x | 0.85 x | 0.81 x | 0.77 x |
| EV / EBITDA | 10.3 x | 8.89 x | 9.67 x | 6.26 x | 6.12 x | 7.52 x | 6.71 x | 6.4 x |
| EV / FCF | 18.7 x | 21.3 x | 12.9 x | 26.1 x | 34.5 x | 14.2 x | 23.3 x | 28.6 x |
| FCF Yield | 5.34% | 4.69% | 7.76% | 3.83% | 2.9% | 7.06% | 4.29% | 3.5% |
| Price to Book | 2.29 x | 2.02 x | 2 x | 1.77 x | 0.94 x | 1.93 x | 1.83 x | 1.74 x |
| Nbr of stocks (in thousands) | 165,594 | 165,594 | 165,594 | 156,295 | 156,369 | 155,842 | - | - |
| Reference price 2 | 210.6 | 190.8 | 187.3 | 169.4 | 153.4 | 195.0 | 195.0 | 195.0 |
| Announcement Date | 11/22/19 | 11/20/20 | 11/19/21 | 12/2/22 | 12/1/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 29,233 | 29,796 | 30,954 | 34,029 | 37,388 | 38,358 | 40,834 | 42,890 |
| EBITDA 1 | 3,254 | 3,391 | 3,043 | 4,292 | 4,069 | 4,359 | 4,925 | 5,174 |
| EBIT 1 | 2,623 | 2,600 | 2,200 | 3,431 | 3,118 | 3,383 | 3,904 | 4,092 |
| Operating Margin | 8.97% | 8.73% | 7.11% | 10.08% | 8.34% | 8.82% | 9.56% | 9.54% |
| Earnings before Tax (EBT) 1 | 4,741 | 2,220 | 2,398 | 3,915 | 3,551 | 3,504 | 4,046 | 4,589 |
| Net income 1 | 3,863 | 1,014 | 1,893 | 2,864 | 2,697 | 2,682 | 2,987 | 3,382 |
| Net margin | 13.22% | 3.4% | 6.12% | 8.42% | 7.21% | 6.99% | 7.31% | 7.88% |
| EPS 2 | 23.25 | 8.860 | 11.30 | 17.38 | 17.00 | 16.42 | 19.02 | 21.32 |
| Free Cash Flow 1 | 1,798 | 1,413 | 2,283 | 1,029 | 721.4 | 2,313 | 1,420 | 1,159 |
| FCF margin | 6.15% | 4.74% | 7.38% | 3.02% | 1.93% | 6.03% | 3.48% | 2.7% |
| FCF Conversion (EBITDA) | 55.25% | 41.66% | 75.03% | 23.98% | 17.73% | 53.07% | 28.83% | 22.41% |
| FCF Conversion (Net income) | 46.54% | 139.28% | 120.61% | 35.92% | 26.75% | 86.24% | 47.54% | 34.29% |
| Dividend per Share 2 | 7.550 | 5.370 | 8.260 | 9.730 | 9.910 | 9.851 | 11.16 | 12.58 |
| Announcement Date | 11/22/19 | 11/20/20 | 11/19/21 | 12/2/22 | 12/1/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: September | 2020 S1 | 2020 S2 | 2021 S1 | 2022 S1 | 2022 S2 |
|---|---|---|---|---|---|
| Net sales 1 | 15,709 | 14,087 | 16,445 | 16,758 | 17,271 |
| EBITDA | - | - | - | - | - |
| EBIT | 1,078 | 1,522 | - | - | - |
| Operating Margin | 6.86% | 10.8% | - | - | - |
| Earnings before Tax (EBT) | - | 1,547 | - | - | - |
| Net income | - | 666.9 | - | - | - |
| Net margin | - | 4.73% | - | - | - |
| EPS | - | 6.776 | 8.272 | 7.330 | - |
| Dividend per Share 2 | - | - | - | - | 6.530 |
| Announcement Date | 5/25/20 | 11/20/20 | 5/20/21 | 5/25/22 | 12/2/22 |
1ZAR in Million2ZAR
Estimates
Balance Sheet Analysis
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 378 | 923 | 2,376 | 2,672 | 2,741 |
| Net Cash position 1 | 1,205 | 1,452 | 1,595 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | 0.088 x | 0.2269 x | 0.5451 x | 0.5426 x | 0.5297 x |
| Free Cash Flow 1 | 1,798 | 1,413 | 2,283 | 1,029 | 721 | 2,313 | 1,420 | 1,159 |
| ROE (net income / shareholders' equity) | 23.7% | 10.5% | 12.1% | 18.4% | 15.7% | 15.5% | 16% | 17.1% |
| ROA (Net income/ Total Assets) | 16.8% | 7% | 8.46% | - | 10.8% | 10.3% | 10.3% | 10.6% |
| Assets 1 | 23,054 | 14,491 | 22,375 | - | 24,957 | 26,042 | 28,997 | 31,901 |
| Book Value Per Share 2 | 92.00 | 94.30 | 93.90 | 95.70 | 163.0 | 101.0 | 107.0 | 112.0 |
| Cash Flow per Share 2 | 17.50 | 14.20 | 19.70 | 12.10 | 12.20 | 19.80 | 22.40 | 24.30 |
| Capex 1 | 1,104 | 937 | 1,014 | 961 | 1,213 | 1,125 | 1,468 | 1,680 |
| Capex / Sales | 3.77% | 3.15% | 3.27% | 2.82% | 3.24% | 2.93% | 3.6% | 3.92% |
| Announcement Date | 11/22/19 | 11/20/20 | 11/19/21 | 12/2/22 | 12/1/23 | - | - | - |
1ZAR in Million2ZAR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
195
ZAR
Average target price
211
ZAR
Spread / Average Target
+8.20%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -3.12% | 1.61B | |
| -1.96% | 287B | |
| -7.08% | 90.96B | |
| -9.28% | 41.76B | |
| +1.12% | 41.74B | |
| +2.51% | 39.65B | |
| +2.70% | 38.08B | |
| -14.22% | 30.29B | |
| -4.23% | 28.91B | |
| +7.56% | 24.27B |
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