Company Valuation: ADvTECH Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 5,216 9,710 10,056 13,384 18,548 20,480
Change - 86.15% 3.56% 33.1% 38.58% 10.42%
Enterprise Value (EV) 1 7,826 11,996 12,377 15,656 21,144 23,079
Change - 53.29% 3.17% 26.5% 35.06% 9.15%
P/E 11.2x 14.4x 12.4x 14.2x 16.9x 16x
PBR 1.36x 2.22x 2.05x 2.46x 3.02x 3.05x
PEG - 0.3x 0.6x 0.8x 1.1x 1x
Capitalization / Revenue 0.95x 1.64x 1.44x 1.7x 2.18x 2.19x
EV / Revenue 1.42x 2.03x 1.78x 1.99x 2.48x 2.47x
EV / EBITDA 7.06x 9.39x 8.31x 8.89x 10.5x 9.97x
EV / EBIT 8.61x 11x 9.53x 10.2x 12.1x 11.5x
EV / FCF 12.6x 16.1x 28.5x 27.9x 50.9x 27.5x
FCF Yield 7.91% 6.22% 3.51% 3.58% 1.97% 3.64%
Dividend per Share 2 0.2 0.5 0.6 0.87 1.01 1.18
Rate of return 2.11% 2.84% 3.3% 3.55% 2.98% 3.17%
EPS 2 0.851 1.218 1.471 1.731 2 2.33
Distribution rate 23.5% 41.1% 40.8% 50.3% 50.5% 50.6%
Net sales 1 5,499 5,917 6,961 7,860 8,521 9,330
EBITDA 1 1,108 1,277 1,489 1,761 2,012 2,314
EBIT 1 909.1 1,092 1,298 1,533 1,750 2,002
Net income 1 461.1 664.9 805.4 951 1,105 1,288
Net Debt 1 2,610 2,286 2,321 2,272 2,597 2,599
Reference price 2 9.50 17.58 18.18 24.54 33.84 37.23
Nbr of stocks (in thousands) 549,051 552,308 553,109 545,400 548,100 550,100
Announcement Date 3/24/21 3/25/22 3/27/23 3/20/24 3/24/25 3/23/26
1ZAR in Million2ZAR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.7x0.97x6.64x2.41% 7.84B
12.98x0.66x4.47x-.--% 5.71B
17.46x2.62x8.51x4.87% 5.18B
761.93x8.4x81.19x - 3.84B
12.39x1.17x4.78x - 3.64B
10.4x - - - 1.9B
Average 138.48x 2.76x 21.12x 2.43% 4.69B
Weighted average by Cap. 116.64x 2.34x 17.20x 2.36%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA