Financials Pakistan Reinsurance Company Limited

Equities

PAKRI

PK0004101017

Reinsurance

End-of-day quote Pakistan S.E. 06:00:00 2024-07-09 pm EDT 5-day change 1st Jan Change
11.97 PKR -0.83% Intraday chart for Pakistan Reinsurance Company Limited +1.53% +55.66%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 10,422 8,823 8,256 6,720 6,174 6,921
Enterprise Value (EV) 1 7,769 7,774 6,393 5,498 3,055 3,294
P/E ratio 8.44 x 5.94 x 5.93 x 2.6 x 2.35 x 2.26 x
Yield 5.76% 6.8% 9.08% 8.93% 10.9% 9.75%
Capitalization / Revenue 1.68 x 1.1 x 1.04 x 0.8 x 0.64 x 0.56 x
EV / Revenue 1.25 x 0.97 x 0.81 x 0.65 x 0.31 x 0.26 x
EV / EBITDA 5.84 x 4.86 x 3.22 x 1.88 x 0.9 x 0.75 x
EV / FCF 10.5 x 6.12 x 2.65 x 4.71 x 1.16 x 0.61 x
FCF Yield 9.54% 16.3% 37.7% 21.2% 85.9% 165%
Price to Book 1.06 x 0.9 x 0.81 x 0.51 x 0.43 x 0.38 x
Nbr of stocks (in thousands) 900,000 900,000 900,000 900,000 900,000 900,000
Reference price 2 11.58 9.803 9.173 7.467 6.860 7.690
Announcement Date 4/10/19 5/7/20 5/5/21 4/8/22 4/7/23 4/4/24
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 6,221 7,995 7,911 8,403 9,711 12,432
EBITDA 1 1,331 1,598 1,987 2,920 3,398 4,417
EBIT 1 1,323 1,590 1,980 2,914 3,367 4,369
Operating Margin 21.27% 19.89% 25.03% 34.68% 34.67% 35.14%
Earnings before Tax (EBT) 1 1,740 2,193 1,984 3,621 3,569 5,236
Net income 1 1,235 1,484 1,391 2,590 2,625 3,065
Net margin 19.86% 18.57% 17.59% 30.82% 27.03% 24.66%
EPS 2 1.373 1.649 1.546 2.877 2.916 3.406
Free Cash Flow 1 741.1 1,271 2,411 1,166 2,623 5,421
FCF margin 11.91% 15.9% 30.47% 13.88% 27.01% 43.6%
FCF Conversion (EBITDA) 55.67% 79.52% 121.32% 39.94% 77.2% 122.72%
FCF Conversion (Net income) 60% 85.62% 173.27% 45.04% 99.95% 176.84%
Dividend per Share 2 0.6667 0.6667 0.8333 0.6667 0.7500 0.7500
Announcement Date 4/10/19 5/7/20 5/5/21 4/8/22 4/7/23 4/4/24
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 2,653 1,049 1,863 1,222 3,119 3,627
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 741 1,271 2,411 1,166 2,623 5,421
ROE (net income / shareholders' equity) 12.1% 15.4% 13.9% 22.2% 19.2% 18.9%
ROA (Net income/ Total Assets) 3.36% 3.3% 3.46% 4.41% 3.8% 3.88%
Assets 1 36,718 45,023 40,239 58,703 69,015 79,003
Book Value Per Share 2 11.00 10.90 11.40 14.50 15.90 20.20
Cash Flow per Share 2 2.950 1.190 2.100 1.390 3.490 4.060
Capex 1 4.66 7.68 1.02 3.89 50.3 165
Capex / Sales 0.07% 0.1% 0.01% 0.05% 0.52% 1.33%
Announcement Date 4/10/19 5/7/20 5/5/21 4/8/22 4/7/23 4/4/24
1PKR in Million2PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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