Company Valuation: iOCO Limited

Data adjusted to current consolidation scope
Fiscal Period: July 2020 2021 2022 2023 2024 2025
Market Cap 1 818.8 1,097 838.7 256.5 964.4 2,641
Change - 33.98% -23.54% -69.42% 275.95% 173.85%
Enterprise Value (EV) 1 3,066 2,992 1,955 867.2 1,643 2,945
Change - -2.42% -34.65% -55.65% 89.48% 79.2%
P/E -0.51x -3.92x -33.3x -11.4x -14.6x 10.7x
PBR 1.61x 6.96x 24.9x 1.71x 2.06x 3.69x
PEG - 0x 0.4x 1.1x 0.7x -0x
Capitalization / Revenue 0.09x 0.16x 0.14x 0.04x 0.16x 0.47x
EV / Revenue 0.35x 0.44x 0.32x 0.14x 0.27x 0.53x
EV / EBITDA -24.9x 15.2x 8.92x 3.1x 9.94x 6.28x
EV / EBIT -4.94x 71.1x 15.3x 4.02x 14.7x 6.94x
EV / FCF -8.82x 24.9x 2.46x 12.2x -68.9x 8.63x
FCF Yield -11.3% 4.02% 40.7% 8.22% -1.45% 11.6%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -9.611 -1.66 -0.1494 -0.1336 -0.1046 0.39
Distribution rate - - - - - -
Net sales 1 8,690 6,874 6,031 6,229 6,035 5,583
EBITDA 1 -123.2 197.4 219.3 279.9 165.3 468.7
EBIT 1 -621.2 42.08 127.6 215.5 112.1 424.3
Net income 1 -1,621 -279.7 -24.87 -57.58 -65.92 250.8
Net Debt 1 2,247 1,895 1,116 610.7 678.8 303.7
Reference price 2 4.860 6.500 4.970 1.520 1.530 4.190
Nbr of stocks (in thousands) 168,469 168,762 168,758 168,758 630,296 630,287
Announcement Date 12/2/20 10/28/21 10/26/22 10/18/23 10/23/24 10/27/25
1ZAR in Million2ZAR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 160M
23.14x3.77x13.17x2.87% 222B
-116.79x18.57x106.98x-.--% 115B
13.73x1.52x7.97x3.49% 113B
14.91x2.72x10.28x5.51% 87.05B
20.45x5.36x13.17x2.79% 62.19B
14.69x2.13x9.06x5.31% 47.45B
20.59x1.68x10.33x1.42% 39.79B
20.4x1.55x9.86x0.92% 38.85B
17.74x2.3x10.68x4.87% 36.84B
Average 3.21x 4.40x 21.28x 3.02% 76.31B
Weighted average by Cap. -1.63x 5.29x 25.56x 2.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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