Financials Fibra Plus

Equities

FPLUS 16

MXCFFP050003

Commercial REITs

End-of-day quote Mexican S.E. 06:00:00 2024-06-24 pm EDT 5-day change 1st Jan Change
8.21 MXN -4.53% Intraday chart for Fibra Plus +2.75% +62.57%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 4,903 4,476 3,981 3,425 5,723 3,213
Enterprise Value (EV) 1 4,672 4,898 4,792 4,982 8,855 6,630
P/E ratio 30.8 x 1,000 x 26.1 x 10.9 x 35.7 x 5.37 x
Yield - - - - - -
Capitalization / Revenue 70.3 x 41.9 x 33 x 13.1 x 8.17 x 4.39 x
EV / Revenue 66.9 x 45.9 x 39.8 x 19.1 x 12.6 x 9.05 x
EV / EBITDA 260 x 1,738 x 85.3 x 66.1 x 21.2 x 15.1 x
EV / FCF -719 x 1,036 x -946 x 3.49 x -6.14 x 31.3 x
FCF Yield -0.14% 0.1% -0.11% 28.7% -16.3% 3.2%
Price to Book 0.74 x 0.67 x 0.58 x 0.51 x 0.55 x 0.29 x
Nbr of stocks (in thousands) 324,701 373,023 373,767 373,526 625,413 636,201
Reference price 2 15.10 12.00 10.65 9.170 9.150 5.050
Announcement Date 4/29/19 4/29/20 4/15/21 4/25/22 5/5/23 5/8/24
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 69.79 106.7 120.5 261.4 700.7 732.4
EBITDA 1 17.97 2.818 56.16 75.37 416.9 438.5
EBIT 1 17.19 1.876 54.46 74.84 413.6 432.9
Operating Margin 24.63% 1.76% 45.21% 28.63% 59.03% 59.11%
Earnings before Tax (EBT) 1 320.7 4.749 164.7 455.5 170 636.9
Net income 1 320.7 4.749 164.7 455.5 170 636.9
Net margin 459.51% 4.45% 136.76% 174.25% 24.26% 86.97%
EPS 2 0.4900 0.0120 0.4080 0.8390 0.2560 0.9400
Free Cash Flow 1 -6.5 4.726 -5.064 1,428 -1,443 212
FCF margin -9.31% 4.43% -4.2% 546.41% -205.95% 28.95%
FCF Conversion (EBITDA) - 167.73% - 1,895.25% - 48.36%
FCF Conversion (Net income) - 99.53% - 313.59% - 33.29%
Dividend per Share - - - - - -
Announcement Date 4/29/19 4/29/20 4/15/21 4/25/22 5/5/23 5/8/24
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - 422 812 1,557 3,133 3,417
Net Cash position 1 231 - - - - -
Leverage (Debt/EBITDA) - 149.8 x 14.45 x 20.65 x 7.514 x 7.793 x
Free Cash Flow 1 -6.5 4.73 -5.06 1,428 -1,443 212
ROE (net income / shareholders' equity) 5.65% 0.07% 2.41% 5.34% 1.61% 5.65%
ROA (Net income/ Total Assets) 0.18% 0.02% 0.44% 0.4% 1.66% 1.63%
Assets 1 178,766 29,868 37,700 112,504 10,263 39,043
Book Value Per Share 2 20.50 18.00 18.40 17.90 16.50 17.50
Cash Flow per Share 2 1.680 0.5900 0.4400 1.170 1.070 0.9400
Capex - 1.09 0.99 - 4.7 0.73
Capex / Sales - 1.02% 0.82% - 0.67% 0.1%
Announcement Date 4/29/19 4/29/20 4/15/21 4/25/22 5/5/23 5/8/24
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise