Company Valuation: ForteBank

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 258,684 475,794 375,684 348,060 580,768 1,416,145
Change - 83.93% -21.04% -7.35% 66.86% 143.84%
Enterprise Value (EV) 1 381,843 459,530 358,812 120,275 235,874 1,377,489
Change - 20.35% -21.92% -66.48% 96.11% 483.99%
P/E 4.71x 7.16x 3.76x 2.94x 3.53x 7.34x
PBR 0.95x 1.68x 1.07x 0.8x 0.99x 2.49x
PEG - 0.3x 0.1x 0.2x 0.1x 0.4x
Capitalization / Revenue 2.46x 3.73x 2.29x 1.73x 2.1x 4.15x
EV / Revenue 3.63x 3.6x 2.18x 0.6x 0.85x 4.04x
EV / EBITDA - - - - - -
EV / EBIT - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 - 0.5421 0.5421 0.6436 1.104 -
Rate of return - 10.5% 13.3% 17% 17.7% -
EPS 2 0.5943 0.7189 1.084 1.287 1.773 2.077
Distribution rate - 75.4% 50% 50% 62.3% -
Net sales 1 105,138 127,568 164,391 201,676 276,145 341,236
EBITDA - - - - - -
EBIT - - - - - -
Net income 1 52,962 64,060 98,086 116,437 160,346 190,412
Net Debt 1 123,159 -16,264 -16,872 -227,785 -344,894 -38,656
Reference price 2 2.80 5.15 4.08 3.78 6.25 15.24
Nbr of stocks (in thousands) 92,387,104 92,387,104 92,079,524 92,079,466 92,922,892 92,922,892
Announcement Date 4/16/21 3/9/22 3/13/23 3/14/24 3/11/25 4/23/26
1KZT in Million2KZT
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 2.04B
14.77x - - 1.89% 895B
13.02x - - 2.02% 414B
5.4x - - 5.74% 351B
11.76x - - 4.38% 328B
18.49x - - 2.31% 287B
5.31x - - 5.74% 277B
5.71x - - 5.45% 252B
12.27x - - 2.19% 263B
16.59x - - 2.33% 225B
Average 11.48x 3.56% 329.48B
Weighted average by Cap. 12.01x 3.25%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA