Financials IntegraFin Holdings plc

Equities

IHP

GB00BD45SH49

Financial Technology (Fintech)

Market Closed - London S.E. Other stock markets 11:35:23 2024-04-29 EDT			5-day change	1st Jan Change
306.5 ^GBX	+3.72%		+4.79%	+1.09%

04-17	BofA cuts Ashmore; JPMorgan lifts Fresnillo	AN
04-16	Integrafin funds under direction rise as hails platform	AN

Valuation

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,312	1,683	1,720	728.2	785.9	1,016	-	-
Enterprise Value (EV) ¹	1,180	149.4	282.2	548	609.1	822.2	804.9	781
P/E ratio	32.7 x	37.1 x	33.7 x	16.5 x	15.7 x	20.6 x	18.3 x	16.2 x
Yield	1.97%	1.63%	1.93%	4.64%	4.3%	3.39%	3.62%	3.97%
Capitalization / Revenue	13.2 x	15.7 x	13.9 x	5.45 x	5.83 x	6.93 x	6.33 x	5.84 x
EV / Revenue	11.9 x	1.39 x	2.28 x	4.1 x	4.52 x	5.61 x	5.02 x	4.49 x
EV / EBITDA	23.9 x	2.58 x	4.26 x	8.05 x	10.3 x	13.5 x	11.9 x	10.4 x
EV / FCF	25.7 x	0.66 x	-4.94 x	2.31 x	93.7 x	17.2 x	15 x	13 x
FCF Yield	3.9%	152%	-20.2%	43.3%	1.07%	5.8%	6.65%	7.66%
Price to Book	11.4 x	11.9 x	10.5 x	4.2 x	4.13 x	4.95 x	4.51 x	4.09 x
Nbr of stocks (in thousands)	331,322	331,322	331,322	331,322	331,322	331,322	-	-
Reference price ²	3.960	5.080	5.190	2.198	2.372	3.065	3.065	3.065
Announcement Date	19-12-18	20-12-17	21-12-16	22-12-14	23-12-14	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	99.16	107.3	123.7	133.6	134.9	146.5	160.3	174
EBITDA ¹	49.3	57.83	66.29	68.1	59.2	60.84	67.89	75.04
EBIT ¹	48.6	55.26	63.21	53.6	56.7	59.99	67.64	74.65
Operating Margin	49.01%	51.49%	51.11%	40.12%	42.03%	40.96%	42.19%	42.9%
Earnings before Tax (EBT) ¹	48.61	55.32	63.12	54.3	62.6	65.84	73.72	81.25
Net income ¹	40.15	45.48	51.11	44.1	49.9	48.9	55.27	61.23
Net margin	40.49%	42.38%	41.32%	33.01%	36.99%	33.39%	34.47%	35.19%
EPS ²	0.1210	0.1370	0.1540	0.1330	0.1510	0.1488	0.1679	0.1887
Free Cash Flow ¹	45.95	227.6	-57.08	237.1	6.5	47.69	53.53	59.85
FCF margin	46.34%	212.09%	-46.16%	177.47%	4.82%	32.56%	33.39%	34.39%
FCF Conversion (EBITDA)	93.21%	393.56%	-	348.16%	10.98%	78.4%	78.85%	79.76%
FCF Conversion (Net income)	114.46%	500.42%	-	537.64%	13.03%	97.53%	96.86%	97.75%
Dividend per Share ²	0.0780	0.0830	0.1000	0.1020	0.1020	0.1039	0.1108	0.1216
Announcement Date	19-12-18	20-12-17	21-12-16	22-12-14	23-12-14	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September	2021 S1	2023 S1	2024 Q2	2024 Q4
Net sales	59.39	66.5	-	-
EBITDA	32.57	28.6	-	-
EBIT	31.21	27.2	-	-
Operating Margin	52.55%	40.9%	-	-
Earnings before Tax (EBT)	-	27.9	-	-
Net income	-	22	-	-
Net margin	-	33.08%	-	-
EPS ¹	-	-	0.0670	0.0870
Dividend per Share	0.0300	0.0320	-	-
Announcement Date	21-05-20	23-05-26	-	-

¹GBP

Estimates

Balance Sheet Analysis

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	132	1,534	1,437	180	177	193	211	234
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	46	228	-57.1	237	6.5	47.7	53.5	59.9
ROE (net income / shareholders' equity)	36.4%	34.6%	33.6%	26.2%	27.5%	25.1%	26.1%	27.2%
ROA (Net income/ Total Assets)	-	-	-	17.9%	-	-	-	-
Assets ¹	-	-	-	245.9	-	-	-	-
Book Value Per Share ²	0.3500	0.4300	0.4900	0.5200	0.5700	0.6200	0.6800	0.7500
Cash Flow per Share ²	0.1400	0.6900	-0.1700	0.7200	0.0200	0.1600	0.1800	0.2000
Capex ¹	1.25	0.86	0.66	0.4	0.7	0.9	1	1
Capex / Sales	1.26%	0.8%	0.53%	0.3%	0.52%	0.61%	0.62%	0.57%
Announcement Date	19-12-18	20-12-17	21-12-16	22-12-14	23-12-14	-	-	-

¹GBP in Million²GBP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for IntegraFin Holdings plc

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2.955 GBP

Average target price

3.312 GBP

Spread / Average Target

+12.10%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Financial Technology (Fintech) (NEC)

	1st Jan change	Capi.
INTEGRAFIN HOLDINGS PLC	+1.09%	1.22B
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HITHINK ROYALFLUSH INFORMATION NETWORK CO., LTD.	-21.18%	8.98B
PB FINTECH LIMITED	+55.87%	6.75B
STONECO LTD.	-10.21%	5.05B

Financial Technology (Fintech) (NEC)