SYSTEMS LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 440.9 PKR | +0.12% |
|
+3.06% | +4.09% |
| May. 01 | Systems Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Mar. 29 | Systems Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 15,354 | 52,239 | 104,917 | 134,729 | 123,376 | 128,521 | - |
| Enterprise Value (EV) 1 | 15,354 | 52,239 | 100,200 | 134,729 | 123,376 | 128,521 | 128,521 |
| P/E ratio | 9.75 x | 24.1 x | 23.7 x | 20.6 x | 14.3 x | 11.8 x | 8.95 x |
| Yield | 1.81% | 0.92% | 0.66% | 1.03% | 1.42% | - | - |
| Capitalization / Revenue | 2,037,459 x | 5,289,004 x | 6,855,531 x | 4,242,095 x | 2,308,901 x | - | - |
| EV / Revenue | 2,037,459 x | 5,289,004 x | 6,855,531 x | 4,242,095 x | 2,308,901 x | - | - |
| EV / EBITDA | - | 19,894,431 x | 29,622,488 x | - | - | - | - |
| EV / FCF | - | - | 68,689,686 x | - | - | - | - |
| FCF Yield | - | - | 0% | - | - | - | - |
| Price to Book | 2.77 x | 6.07 x | 8.7 x | - | 3.82 x | - | - |
| Nbr of stocks (in thousands) | 271,745 | 274,133 | 276,156 | 278,405 | 291,284 | 291,503 | - |
| Reference price 2 | 56.50 | 190.6 | 379.9 | 483.9 | 423.6 | 440.9 | 440.9 |
| Announcement Date | 3/26/20 | 3/4/21 | 3/21/22 | 4/19/23 | 3/29/24 | - | - |
1PKR in Million2PKR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales | 7,536 | 9,877 | 15,304 | 31,760 | 53,435 | - | - |
| EBITDA | - | 2,626 | 3,542 | - | - | - | - |
| EBIT | 1,493 | 2,334 | 3,169 | 5,363 | 7,733 | - | - |
| Operating Margin | 19.82% | 23.63% | 20.71% | 16.89% | 14.47% | - | - |
| Earnings before Tax (EBT) | 1,601 | 2,282 | 4,434 | 6,981 | 9,280 | - | - |
| Net income | 1,587 | 2,210 | 4,462 | 6,629 | 8,689 | - | - |
| Net margin | 21.06% | 22.37% | 29.16% | 20.87% | 16.26% | - | - |
| EPS 1 | 5.795 | 7.923 | 16.05 | 23.45 | 29.66 | 37.46 | 49.28 |
| Free Cash Flow | - | - | 1,527 | - | - | - | - |
| FCF margin | - | - | 9.98% | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | 43.13% | - | - | - | - |
| FCF Conversion (Net income) | - | - | 34.23% | - | - | - | - |
| Dividend per Share | 1.023 | 1.750 | 2.500 | 5.000 | 6.000 | - | - |
| Announcement Date | 3/26/20 | 3/4/21 | 3/21/22 | 4/19/23 | 3/29/24 | - | - |
1PKR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,780 | 5,333 | 6,130 | 11,463 | 8,682 | 11,615 | 10,699 | 12,490 | 14,145 |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 852.9 | - | 1,383 | 2,383 | 1,662 | 1,318 | 1,708 | 1,651 | 2,108 |
| Operating Margin | 17.84% | - | 22.56% | 20.79% | 19.14% | 11.35% | 15.96% | 13.22% | 14.9% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - |
| Net income 1 | - | 1,200 | - | - | - | - | 3,879 | 1,414 | 1,853 |
| Net margin | - | 22.51% | - | - | - | - | 36.26% | 11.32% | 13.1% |
| EPS 2 | - | - | - | - | - | - | 13.24 | 4.830 | 6.310 |
| Dividend per Share | - | - | - | - | - | 5.000 | - | - | - |
| Announcement Date | 3/21/22 | 4/30/22 | 8/30/22 | 8/30/22 | 10/28/22 | 4/19/23 | 4/28/23 | 8/29/23 | 10/30/23 |
1PKR in Million2PKR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 596 | 1,466 | 3,755 | 4,718 | 6,531 | 6,717 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | -611 | 450 | 1,157 | 417 | 1,158 | -3,185 |
| ROE (net income / shareholders' equity) | 28.7% | 32.3% | 32.1% | 43.7% | 37.9% | 31.4% |
| ROA (Net income/ Total Assets) | 9.81% | 13% | 14% | 13.4% | 11.9% | 11.1% |
| Assets 1 | 10,954 | 12,172 | 15,768 | 33,237 | 55,728 | 78,295 |
| Book Value Per Share 2 | 15.40 | 20.40 | 28.60 | 43.70 | 78.90 | 111.0 |
| Cash Flow per Share 2 | 2.800 | 5.580 | 10.90 | 10.80 | 20.00 | 27.40 |
| Capex 1 | 311 | 658 | 323 | 875 | 1,440 | 1,543 |
| Capex / Sales | 5.84% | 8.73% | 3.27% | 5.72% | 4.53% | 2.89% |
| Announcement Date | 4/5/19 | 4/30/20 | 3/10/21 | 3/21/22 | 5/2/23 | 4/1/24 |
1PKR in Million2PKR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Sell
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
440.9
PKR
Average target price
626.7
PKR
Spread / Average Target
+42.14%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +4.09% | 461M | |
| -11.48% | 195B | |
| +10.30% | 181B | |
| +11.75% | 168B | |
| +2.17% | 97.42B | |
| +45.43% | 90.36B | |
| +14.98% | 86.48B | |
| +10.94% | 84.88B | |
| +6.42% | 50.59B | |
| -31.78% | 45.45B |
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- Financials Systems Limited
