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 6,671 - -
Change - 4.05% -38.51% 6.28% -27.87% 30.12% - -
Enterprise Value (EV) 1 17,031 18,336 14,715 15,485 13,182 14,791 13,121 11,932
Change - 7.66% -19.75% 5.23% -14.87% 12.21% -11.29% -9.06%
P/E 10.8x 6.27x 16.2x 6.6x 513x 6.58x 5.96x 4.97x
PBR 1.03x 0.94x 0.59x 0.57x 0.41x 0.46x 0.42x 0.38x
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 0.23x 0.21x 0.2x
EV / Revenue 0.71x 0.66x 0.5x 0.53x 0.45x 0.5x 0.41x 0.35x
EV / EBITDA 4.98x 4.22x 3.81x 4.19x 3.85x 3.72x 3.1x 2.67x
EV / EBIT 8.1x 6.25x 6.22x 6.88x 6.81x 5.95x 5.06x 4.11x
EV / FCF 10.2x 16.9x 39.9x -39.3x 8.23x 12x 5.86x 5.77x
FCF Yield 9.79% 5.93% 2.51% -2.54% 12.1% 8.34% 17.1% 17.3%
Dividend per Share 2 0.15 0.29 - - - - 0.095 0.215
Rate of return 3.63% 6.59% - - - - 3.57% 8.08%
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 2.660 2.660 2.660
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.($)
6.58x0.5x3.72x-.--% 407M
23.75x - - -.--% 1,055B
23.68x1.9x11.81x1.23% 132B
22.9x3.8x13.13x1.8% 88.06B
31.27x2.21x16.42x0.77% 80.19B
24.14x5.24x17.85x2.39% 78.81B
32.85x4.1x17.82x3.37% 73.82B
23.06x1.77x12.95x1.18% 70.64B
38.82x2.65x13.68x2.96% 23.98B
Average 25.23x 2.77x 13.42x 1.52% 178.1B
Weighted average by Cap. 24.70x 3.04x 14.60x 0.61%

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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