Company Valuation: Afterpay

Data adjusted to current consolidation scope
Fiscal Period: December 2018 2019 2020 2021 2022 2023
Market Cap 1 2,905 7,632 33,648 24,095 19,966 19,966
Change - 162.71% 340.87% -28.39% -17.14% 0%
Enterprise Value (EV) 1 3,041 7,450 33,501 24,242 20,136 20,067
Change - 144.96% 349.67% -27.64% -16.94% -0.34%
P/E -296x -158x -1,475x -151x - 3.44x
PBR 14.6x 11.5x 33.5x 18.4x - 9.25x
PEG - -0x 26x -0x - -
Capitalization / Revenue 25.5x 35x 70.6x 28.8x 27.6x 23.3x
EV / Revenue 26.7x 34.2x 70.3x 29x 27.8x 23.4x
EV / EBITDA 131x -360x 3,516x -572x 686x 261x
EV / EBIT 184x -251x 8,681x -492x -241x 345x
EV / FCF -25.6x -64x -132x -41.4x - 26.1x
FCF Yield -3.9% -1.56% -0.76% -2.42% - 3.83%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.0418 -0.1848 -0.08 -0.55 - 19.32
Distribution rate - - - - - -
Net sales 1 113.9 218 476.6 836 723.1 856
EBITDA 1 23.27 -20.72 9.527 -42.38 29.35 76.8
EBIT 1 16.56 -29.72 3.859 -49.31 -83.71 58.12
Net income 1 -8.976 -42.86 -19.78 -156.3 -410.5 5,840
Net Debt 1 136.1 -182.2 -147.7 146.6 169.9 100.9
Reference price 2 12.40 29.28 118.00 83.01 66.47 66.47
Nbr of stocks (in thousands) 234,293 260,664 285,155 290,266 300,379 300,379
Announcement Date 8/22/18 8/27/19 8/26/20 8/24/21 9/6/24 9/6/24
1AUD in Million2AUD
Estimates

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA