FORD OTOMOTIV SANAYI |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,109 TRY | +1.65% |
|
-0.98% | +49.97% |
| 03-06 | Transcript : Ford Otomotiv Sanayi A.S., Q4 2023 Earnings Call, Mar 06, 2024 | |
| 03-05 | Ford Otomotiv Sanayi A.S. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 24,862 | 44,215 | 83,552 | 184,052 | 259,498 | 389,159 | - | - |
| Enterprise Value (EV) 1 | 27,867 | 44,171 | 88,435 | 211,856 | 320,192 | 485,277 | 463,029 | 389,159 |
| P/E ratio | 12.7 x | 10.5 x | 9.49 x | 9.89 x | 5.29 x | 6.2 x | 6.28 x | 3.31 x |
| Yield | 4.4% | 5.1% | 5.46% | 3.8% | - | 6.94% | 9.08% | - |
| Capitalization / Revenue | 0.63 x | 0.89 x | 1.18 x | 1.07 x | 0.63 x | 0.6 x | 0.52 x | 0.41 x |
| EV / Revenue | 0.71 x | 0.89 x | 1.24 x | 1.23 x | 0.78 x | 0.75 x | 0.61 x | 0.41 x |
| EV / EBITDA | 8.32 x | 8.36 x | 9.34 x | 10.7 x | 7.5 x | 8.89 x | 6.5 x | 4.1 x |
| EV / FCF | 15.8 x | 6.63 x | 14 x | 43.1 x | 13.4 x | 18.9 x | 12.9 x | 4.42 x |
| FCF Yield | 6.34% | 15.1% | 7.13% | 2.32% | 7.44% | 5.29% | 7.73% | 22.6% |
| Price to Book | 5.33 x | 6.28 x | 8.23 x | 8.6 x | - | 7.35 x | 5.31 x | - |
| Nbr of stocks (in thousands) | 350,910 | 350,910 | 350,910 | 350,910 | 350,910 | 350,910 | - | - |
| Reference price 2 | 70.85 | 126.0 | 238.1 | 524.5 | 739.5 | 1,109 | 1,109 | 1,109 |
| Announcement Date | 20-02-11 | 21-02-10 | 22-02-15 | 23-02-08 | 24-03-05 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 39,209 | 49,451 | 71,101 | 171,797 | 411,906 | 649,608 | 754,919 | 943,760 |
| EBITDA 1 | 3,350 | 5,283 | 9,464 | 19,727 | 42,710 | 54,593 | 71,190 | 94,894 |
| EBIT 1 | 2,574 | 4,367 | 8,410 | 17,832 | 36,646 | 52,070 | 65,568 | 83,942 |
| Operating Margin | 6.56% | 8.83% | 11.83% | 10.38% | 8.9% | 8.02% | 8.69% | 8.89% |
| Earnings before Tax (EBT) 1 | 1,950 | 4,108 | 8,687 | 15,623 | 47,428 | 63,479 | 66,800 | 119,941 |
| Net income 1 | 1,959 | 4,195 | 8,801 | 18,614 | 49,056 | 62,761 | 61,304 | 117,420 |
| Net margin | 5% | 8.48% | 12.38% | 10.83% | 11.91% | 9.66% | 8.12% | 12.44% |
| EPS 2 | 5.580 | 11.95 | 25.08 | 53.04 | 139.8 | 178.8 | 176.6 | 334.6 |
| Free Cash Flow 1 | 1,768 | 6,667 | 6,308 | 4,910 | 23,829 | 25,671 | 35,783 | 87,980 |
| FCF margin | 4.51% | 13.48% | 8.87% | 2.86% | 5.79% | 3.95% | 4.74% | 9.32% |
| FCF Conversion (EBITDA) | 52.78% | 126.18% | 66.65% | 24.89% | 55.79% | 47.02% | 50.26% | 92.71% |
| FCF Conversion (Net income) | 90.23% | 158.93% | 71.67% | 26.38% | 48.58% | 40.9% | 58.37% | 74.93% |
| Dividend per Share 2 | 3.120 | 6.420 | 13.00 | 19.95 | - | 77.00 | 100.7 | - |
| Announcement Date | 20-02-11 | 21-02-10 | 22-02-15 | 23-02-08 | 24-03-05 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,871 | 25,444 | 27,876 | 32,854 | 45,657 | 60,939 | 66,302 | 73,553 | 86,106 | 185,945 |
| EBITDA 1 | 2,036 | 4,358 | 2,971 | 4,149 | 5,001 | 7,754 | 6,715 | 8,449 | 11,253 | 16,294 |
| EBIT | 1,774 | 4,076 | 2,677 | 3,859 | 4,334 | 7,110 | 6,080 | 7,788 | - | - |
| Operating Margin | 9.4% | 16.02% | 9.6% | 11.75% | 9.49% | 11.67% | 9.17% | 10.59% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | 4,695 | - | 5,160 | 7,302 | 11,059 | - |
| Net income 1 | 1,892 | 4,090 | 2,802 | 3,704 | 4,711 | 8,292 | 5,353 | 6,727 | 13,014 | 23,962 |
| Net margin | 10.03% | 16.08% | 10.05% | 11.27% | 10.32% | 13.61% | 8.07% | 9.15% | 15.11% | 12.89% |
| EPS | 5.390 | 11.66 | - | - | - | - | 15.25 | 19.17 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 21-10-27 | 22-02-15 | 22-04-27 | 22-07-28 | 22-11-02 | 23-02-08 | 23-04-27 | 23-07-27 | 23-10-25 | 24-03-05 |
1TRY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,005 | - | 4,883 | 27,804 | 60,694 | 96,118 | 73,870 | - |
| Net Cash position 1 | - | 43.2 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.8971 x | - | 0.516 x | 1.409 x | 1.421 x | 1.761 x | 1.038 x | - |
| Free Cash Flow 1 | 1,768 | 6,667 | 6,308 | 4,910 | 23,829 | 25,671 | 35,783 | 87,980 |
| ROE (net income / shareholders' equity) | 45.8% | 59.6% | 102% | 118% | 79% | 56.3% | 92.8% | 53.3% |
| ROA (Net income/ Total Assets) | 13.2% | 20.6% | 26.2% | 26.8% | 25.1% | 23.4% | 20.4% | 19% |
| Assets 1 | 14,795 | 20,377 | 33,571 | 69,423 | 195,657 | 268,209 | 300,781 | 618,000 |
| Book Value Per Share 2 | 13.30 | 20.10 | 28.90 | 61.00 | - | 151.0 | 209.0 | - |
| Cash Flow per Share 2 | 8.570 | 21.10 | 24.80 | 54.50 | - | 206.0 | 210.0 | 390.0 |
| Capex 1 | 1,240 | 724 | 2,395 | 14,219 | 26,743 | 33,123 | 31,542 | 12,886 |
| Capex / Sales | 3.16% | 1.46% | 3.37% | 8.28% | 6.49% | 5.1% | 4.18% | 1.37% |
| Announcement Date | 20-02-11 | 21-02-10 | 22-02-15 | 23-02-08 | 24-03-05 | - | - | - |
1TRY in Million2TRY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
1,109
TRY
Average target price
1,212
TRY
Spread / Average Target
+9.24%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +49.97% | 11.99B | |
| +12.39% | 87.34B | |
| -0.75% | 84.51B | |
| +24.83% | 76.07B | |
| +23.31% | 47.89B | |
| +18.20% | 34.02B | |
| +12.34% | 23.85B | |
| -1.54% | 19.82B | |
| -10.47% | 10.13B | |
| +93.89% | 7.85B |
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