Financials Johannesburg Stock Exchange Limited Deutsche Boerse AG

Equities

JF6

ZAE000079711

Financial & Commodity Market Operators

Market Closed - Deutsche Boerse AG 02:09:59 2024-07-11 am EDT 5-day change 1st Jan Change
5.2 EUR 0.00% Intraday chart for Johannesburg Stock Exchange Limited 0.00% +19.27%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 10,222 9,621 9,578 9,277 7,906 8,894 - -
Enterprise Value (EV) 1 7,974 7,162 7,438 9,277 7,906 8,894 8,894 8,894
P/E ratio 14.6 x 12 x - 12 x - 10.5 x 9.85 x 8.95 x
Yield 5.77% 6.44% 6.73% - 8.48% 8.12% 8.59% 9.07%
Capitalization / Revenue 4.67 x 3.93 x 3.81 x - 2.78 x 2.91 x 2.69 x 2.5 x
EV / Revenue 4.67 x 3.93 x 3.81 x - 2.78 x 2.91 x 2.69 x 2.5 x
EV / EBITDA 11,492,755 x 9,076,625 x 9,079,111 x - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.57 x 2.37 x 2.19 x - - - - -
Nbr of stocks (in thousands) 85,522 85,522 85,522 85,522 85,522 85,522 - -
Reference price 2 119.5 112.5 112.0 108.5 92.44 104.0 104.0 104.0
Announcement Date 2/24/20 2/25/21 3/1/22 3/8/23 3/18/24 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,187 2,446 2,517 - 2,844 3,058 3,310 3,554
EBITDA 889.4 1,060 1,055 - - - - -
EBIT 1 687 811 798 - 805 931.5 1,044 1,158
Operating Margin 31.41% 33.15% 31.7% - 28.31% 30.46% 31.55% 32.6%
Earnings before Tax (EBT) 948.2 1,065 - - - - - -
Net income 1 695 778.4 722 748.6 - 855 909 1,001
Net margin 31.78% 31.82% 28.68% - - 27.95% 27.46% 28.17%
EPS 2 8.205 9.401 - 9.011 - 9.925 10.56 11.62
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 6.900 7.250 7.540 - 7.840 8.440 8.935 9.435
Announcement Date 2/24/20 2/25/21 3/1/22 3/8/23 3/18/24 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2024 S1 2024 S2 2025 S1
Net sales 1 1,265 1,181 1,557 1,654 1,726
EBITDA - - - - -
EBIT 1 522.7 288.3 554 - -
Operating Margin 41.31% 24.41% 35.58% - -
Earnings before Tax (EBT) 659.8 405 - - -
Net income 485.3 293.1 - - -
Net margin 38.35% 24.82% - - -
EPS 5.662 3.739 - - -
Dividend per Share - - - - -
Announcement Date 8/5/20 2/25/21 - - -
1ZAR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 2,248 2,459 2,140 - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 17.5% 19.3% 17.3% - 19.4% 19.9% 20.8% 21.7%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 46.50 47.40 51.00 - - - - -
Cash Flow per Share - - - - - - - -
Capex 1 105 - - - 64.9 51 54 57
Capex / Sales 4.8% - - - 2.28% 1.67% 1.63% 1.6%
Announcement Date 2/24/20 2/25/21 3/1/22 3/8/23 3/18/24 - - -
1ZAR in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
104 ZAR
Average target price
107.4 ZAR
Spread / Average Target
+3.30%
Consensus

Quarterly revenue - Rate of surprise

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