Company Valuation: Future Energy Source Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026
Market Cap 1 15,875 11,475 9,125 8,250 9,275
Change - -27.72% -20.48% -9.59% 12.42%
Enterprise Value (EV) 1 16,016 13,197 10,835 10,064 11,380
Change - -17.6% -17.9% -7.12% 13.07%
P/E 62.4x 20.1x 22.2x 17.9x 13.9x
PBR 20.6x 8.81x 4.04x 3.03x 2.8x
PEG 1x 0x -0.8x 1.4x 0.3x
Capitalization / Revenue 1.25x 0.44x 0.32x 0.27x 0.28x
EV / Revenue 1.26x 0.5x 0.38x 0.33x 0.35x
EV / EBITDA 59.1x 21.3x 13.5x 10.9x 9.35x
EV / EBIT 61.7x 22.3x 17.3x 14.4x 11.8x
EV / FCF -34.6x -7.6x -675x -34.8x -27.5x
FCF Yield -2.89% -13.2% -0.15% -2.88% -3.63%
Dividend per Share 2 0.026 - - 0.028 0.056
Rate of return 0.41% - - 0.85% 1.51%
EPS 2 0.1017 0.2285 0.1643 0.1846 0.2667
Distribution rate 25.6% - - 15.2% 21%
Net sales 1 12,671 26,282 28,681 30,046 32,567
EBITDA 1 270.9 620.5 800.5 927 1,217
EBIT 1 259.5 592.1 627 698.6 963.1
Net income 1 253.6 571.3 410.8 461.5 666.8
Net Debt 1 140.6 1,722 1,710 1,814 2,105
Reference price 2 6.350 4.590 3.650 3.300 3.710
Nbr of stocks (in thousands) 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000
Announcement Date 8/26/22 6/30/23 8/5/24 7/15/25 7/1/26
1JMD in Million2JMD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 58.26M
14.12x1.8x7.47x2.27% 753B
18.45x1.53x8.98x0.49% 170B
7.47x0.64x2.71x3.99% 132B
6.96x0.87x4.92x0.89% 128B
7.6x0.74x4.65x1.15% 121B
8.62x0.74x6.35x1.8% 113B
8.85x2.02x4.94x2.17% 92.97B
10.53x0.33x5.03x6.73% 91.62B
11.94x1.52x7.74x1.82% 65.25B
Average 10.50x 1.13x 5.87x 2.37% 166.7B
Weighted average by Cap. 12.06x 1.38x 6.51x 2.23%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Future Energy Source Company Limited

Historical PBR trend

Valuation ratios - PBR - Future Energy Source Company Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Future Energy Source Company Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Future Energy Source Company Limited

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