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 6,496 - -
Change - 4.05% -38.51% 6.28% -27.87% 26.7% - -
Enterprise Value (EV) 1 17,031 18,336 14,715 15,485 13,182 14,616 12,946 11,757
Change - 7.66% -19.75% 5.23% -14.87% 10.88% -11.43% -9.18%
P/E 10.8x 6.27x 16.2x 6.6x 513x 6.4x 5.81x 4.84x
PBR 1.03x 0.94x 0.59x 0.57x 0.41x 0.45x 0.41x 0.37x
PEG - 0.1x -0.2x 0x -5.2x 0x 0.6x 0.2x
Capitalization / Revenue 0.44x 0.39x 0.23x 0.24x 0.17x 0.22x 0.2x 0.19x
EV / Revenue 0.71x 0.66x 0.5x 0.53x 0.45x 0.49x 0.41x 0.35x
EV / EBITDA 4.98x 4.22x 3.81x 4.19x 3.85x 3.68x 3.06x 2.63x
EV / EBIT 8.1x 6.25x 6.22x 6.88x 6.81x 5.87x 4.99x 4.05x
EV / FCF 10.2x 16.9x 39.9x -39.3x 8.23x 11.8x 5.78x 5.68x
FCF Yield 9.79% 5.93% 2.51% -2.54% 12.1% 8.44% 17.3% 17.6%
Dividend per Share 2 0.15 0.29 - - - - 0.095 0.215
Rate of return 3.63% 6.59% - - - - 3.67% 8.3%
EPS 2 0.383 0.702 0.167 0.432 0.004 0.4045 0.446 0.535
Distribution rate 39.2% 41.3% - - - - 21.3% 40.2%
Net sales 1 23,956 27,979 29,628 29,062 29,615 29,578 31,786 33,716
EBITDA 1 3,419 4,340 3,864 3,694 3,422 3,976 4,235 4,470
EBIT 1 2,102 2,936 2,367 2,250 1,937 2,488 2,592 2,906
Net income 1 991 1,746 414 1,090 10 996 1,123 1,355
Net Debt 1 6,577 7,459 8,027 8,377 8,055 8,120 6,450 5,261
Reference price 2 4.130 4.400 2.700 2.850 2.050 2.590 2.590 2.590
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.4x0.49x3.68x-.--% 389M
24.89x - - -.--% 1,105B
24.09x1.93x12.01x1.21% 134B
24.55x4.04x13.93x1.75% 93.66B
25.74x5.59x19.04x2.18% 84.92B
30.57x2.2x16.35x0.79% 78.11B
36.59x4.38x20.51x2.42% 78.3B
21.79x1.67x12.2x1.25% 66.51B
38.28x2.61x13.46x3.03% 23.49B
Average 25.88x 2.86x 13.90x 1.4% 184.91B
Weighted average by Cap. 25.73x 3.22x 15.27x 0.55%

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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