Company Valuation: First Resources Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,766 1,732 1,695 1,691 2,517 4,783 - -
Change - -1.95% -2.11% -0.24% 48.81% 90.01% - -
Enterprise Value (EV) 1 1,792 1,587 1,770 1,804 3,179 5,372 5,192 5,017
Change - -11.4% 11.53% 1.92% 76.2% 68.98% -3.36% -3.37%
P/E 11x 5.35x 11.7x 6.9x 7.11x 12x 11.9x 12x
PBR 1.47x 1.33x 1.31x 1.23x 1.64x 2.76x 2.47x 2.33x
PEG - 0x -0.2x 0.1x 0.2x 1x 9.8x -10.07x
Capitalization / Revenue 1.71x 1.41x 1.73x 1.63x 1.52x 2.73x 2.65x 2.72x
EV / Revenue 1.74x 1.3x 1.81x 1.74x 1.91x 3.07x 2.88x 2.85x
EV / EBITDA 5.73x 3.12x 6.28x 4.52x 5.17x 7.49x 7.14x 7.02x
EV / EBIT 7.31x 3.8x 8.94x 5.35x 6.43x 9.03x 8.52x 8.57x
EV / FCF 7.43x 6.41x -26.9x 24.9x 53.5x 12.4x 10.9x 9.67x
FCF Yield 13.5% 15.6% -3.72% 4.02% 1.87% 8.06% 9.19% 10.3%
Dividend per Share 2 0.0468 0.1077 0.046 0.0728 0.1163 0.1461 0.157 0.158
Rate of return 4.17% 9.76% 4.25% 6.66% 7.16% 4.73% 5.08% 5.11%
EPS 2 0.1021 0.2065 0.0928 0.1582 0.2284 0.257 0.2601 0.257
Distribution rate 45.8% 52.1% 49.6% 46% 50.9% 56.8% 60.4% 61.5%
Net sales 1 1,032 1,225 980.6 1,039 1,661 1,749 1,803 1,758
EBITDA 1 312.9 508.8 282 398.9 614.9 717.4 727.6 714.8
EBIT 1 245 417.9 198.1 337 494.6 595.2 609.6 585.7
Net income 1 161.1 325.2 145.4 245.8 353.9 397.7 411.8 405.6
Net Debt 1 25.22 -144.6 74.9 112.9 662.2 589.7 409.3 234.5
Reference price 2 1.120 1.104 1.083 1.092 1.625 3.089 3.089 3.089
Nbr of stocks (in thousands) 1,577,066 1,569,155 1,564,989 1,549,267 1,549,058 1,548,141 - -
Announcement Date 2/24/22 2/28/23 2/28/24 2/27/25 2/26/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.02x3.07x7.49x4.73% 4.78B
17.38x2.28x9.77x2.87% 11.07B
19.12x2.56x14.29x2.56% 6.92B
14.04x1.17x9.36x3.01% 5.31B
13.08x1.9x6.5x5.8% 2.52B
8.31x2.71x6.9x10.6% 1.99B
15.12x3.24x10.01x3.47% 1.27B
9.83x1.91x4.54x3.84% 1.24B
Average 13.61x 2.36x 8.61x 4.61% 4.39B
Weighted average by Cap. 15.31x 2.29x 9.71x 3.79%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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