Company Valuation: KAP Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 10,877 6,688 7,108 5,127 6,772 6,746 - -
Change - -38.51% 6.28% -27.87% 32.08% -0.38% - -
Enterprise Value (EV) 1 18,336 14,715 15,485 13,182 13,654 13,075 12,126 12,083
Change - -19.75% 5.23% -14.87% 3.58% -4.24% -7.26% -0.35%
P/E 6.27x 16.2x 6.6x 513x -56.3x 5.85x 5.22x 4.64x
PBR 0.94x 0.59x 0.57x 0.41x 0.56x 0.5x 0.45x 0.41x
PEG - -0.2x 0x -5.2x 0x -0x 0.4x 0.4x
Capitalization / Revenue 0.39x 0.23x 0.24x 0.17x 0.23x 0.23x 0.21x 0.2x
EV / Revenue 0.66x 0.5x 0.53x 0.45x 0.46x 0.44x 0.38x 0.36x
EV / EBITDA 4.22x 3.81x 4.19x 3.85x 3.52x 3.35x 2.8x 2.65x
EV / EBIT 6.25x 6.22x 6.88x 6.81x 5.52x 5.14x 4.33x 4.02x
EV / FCF 16.9x 39.9x -39.3x 8.23x 6.29x 7.85x 6.15x 6.21x
FCF Yield 5.93% 2.51% -2.54% 12.1% 15.9% 12.7% 16.3% 16.1%
Dividend per Share 2 0.29 - - - - - 0.11 0.125
Rate of return 6.59% - - - - - 4.09% 4.65%
EPS 2 0.702 0.167 0.432 0.004 -0.048 0.46 0.515 0.58
Distribution rate 41.3% - - - - - 21.4% 21.6%
Net sales 1 27,979 29,628 29,062 29,615 29,606 29,907 32,134 33,842
EBITDA 1 4,340 3,864 3,694 3,422 3,882 3,904 4,323 4,567
EBIT 1 2,936 2,367 2,250 1,937 2,473 2,544 2,802 3,005
Net income 1 1,746 414 1,090 10 -119 1,161 1,314 1,480
Net Debt 1 7,459 8,027 8,377 8,055 6,882 6,329 5,380 5,337
Reference price 2 4.400 2.700 2.850 2.050 2.700 2.690 2.690 2.690
Nbr of stocks (in thousands) 2,472,000 2,477,094 2,494,000 2,501,000 2,508,000 2,507,672 - -
Announcement Date 8/24/22 8/30/23 8/30/24 8/28/25 8/31/26 - - -
1ZAR in Million2ZAR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
5.96x0.44x3.38x-.--% 423M
20.96x - - -.--% 1,106B
24.09x1.94x11.94x1.15% 151B
22.02x3.7x12.69x1.93% 84.92B
28.32x2.06x15.48x0.81% 80.18B
23.46x5.04x17.18x2.41% 76.5B
19.33x1.55x10.99x1.27% 67.3B
29.45x3.73x16.99x3.1% 64.48B
45.83x2.81x14.48x2.75% 26.12B
Average 24.38x 2.66x 12.89x 1.49% 184.05B
Weighted average by Cap. 22.42x 2.86x 13.89x 0.57%

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

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