Company Valuation: KAP Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,454 10,877 6,688 7,108 5,127 7,098 - -
Change - 4.05% -38.51% 6.28% -27.87% 38.44% - -
Enterprise Value (EV) 1 17,031 18,336 14,715 15,485 13,182 14,583 13,840 12,773
Change - 7.66% -19.75% 5.23% -14.87% 10.62% -5.1% -7.71%
P/E 10.8x 6.27x 16.2x 6.6x 513x 6.35x 6.35x 5.25x
PBR 1.03x 0.94x 0.59x 0.57x 0.41x 0.52x 0.52x 0.52x
PEG - 0.1x -0.2x 0x -5.2x 0x - 0.3x
Capitalization / Revenue 0.44x 0.39x 0.23x 0.24x 0.17x 0.24x 0.23x 0.21x
EV / Revenue 0.71x 0.66x 0.5x 0.53x 0.45x 0.49x 0.44x 0.38x
EV / EBITDA 4.98x 4.22x 3.81x 4.19x 3.85x 3.87x 3.31x 2.89x
EV / EBIT 8.1x 6.25x 6.22x 6.88x 6.81x 6.21x 5.38x 4.41x
EV / FCF 10.2x 16.9x 39.9x -39.3x 8.23x 9.59x 7.79x 6.36x
FCF Yield 9.79% 5.93% 2.51% -2.54% 12.1% 10.4% 12.8% 15.7%
Dividend per Share 2 0.15 0.29 - - - - 0.095 0.21
Rate of return 3.63% 6.59% - - - - 3.48% 7.69%
EPS 2 0.383 0.702 0.167 0.432 0.004 0.43 0.43 0.52
Distribution rate 39.2% 41.3% - - - - 22.1% 40.4%
Net sales 1 23,956 27,979 29,628 29,062 29,615 29,722 31,478 33,382
EBITDA 1 3,419 4,340 3,864 3,694 3,422 3,772 4,178 4,421
EBIT 1 2,102 2,936 2,367 2,250 1,937 2,347 2,574 2,894
Net income 1 991 1,746 414 1,090 10 1,084 1,081 1,312
Net Debt 1 6,577 7,459 8,027 8,377 8,055 7,485 6,742 5,675
Reference price 2 4.130 4.400 2.700 2.850 2.050 2.730 2.730 2.730
Nbr of stocks (in thousands) 2,531,201 2,472,000 2,477,094 2,494,000 2,501,000 2,508,000 - -
Announcement Date 8/20/21 8/24/22 8/30/23 8/30/24 8/28/25 - - -
1ZAR in Million2ZAR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.14x - - -.--% 1,071B
23.2x1.86x11.59x1.26% 130B
20.39x3.63x12.43x2.04% 82.25B
30.2x2.13x15.82x0.8% 77.8B
23.93x5.2x17.71x2.42% 78.11B
23.02x1.77x12.92x1.18% 71.21B
31.65x3.97x17.49x3.58% 70.41B
38.25x2.61x13.49x3.01% 23.61B
Average 26.85x 3.02x 14.49x 1.78% 200.64B
Weighted average by Cap. 24.64x 2.96x 14.27x 0.62%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield