Company Valuation: Linc Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 2,183 4,202 7,925 7,635 6,086 5,137
Change - 92.47% 88.6% -3.67% -20.29% -15.59%
Enterprise Value (EV) 1 2,274 4,236 7,812 7,748 6,041 5,200
Change - 86.28% 84.42% -0.81% -22.04% -13.91%
P/E 5,570x 51.7x 21.2x 22.3x 16x 15.7x
PBR 1.62x 2.94x 4.47x 3.74x 2.59x 1.99x
PEG - 0x 0x -2.61x 1.4x -1.1x
Capitalization / Revenue 0.85x 1.18x 1.63x 1.5x 1.12x 0.95x
EV / Revenue 0.89x 1.19x 1.6x 1.53x 1.11x 0.96x
EV / EBITDA 23.7x 20x 12.9x 14.2x 9.69x 9.17x
EV / EBIT -91.2x 47.3x 16.4x 18.7x 12.2x 11.7x
EV / FCF 5.9x 147x 89.1x -203x 19.6x -42.8x
FCF Yield 16.9% 0.68% 1.12% -0.49% 5.11% -2.34%
Dividend per Share 2 - 0.45 1.25 1.25 1.5 1.5
Rate of return - 0.64% 0.94% 0.97% 1.47% 1.74%
EPS 2 0.006589 1.367 6.286 5.75 6.395 5.504
Distribution rate - 32.9% 19.9% 21.7% 23.5% 27.3%
Net sales 1 2,567 3,550 4,868 5,078 5,435 5,430
EBITDA 1 95.84 211.8 605.2 546.2 623.6 567.1
EBIT 1 -24.94 89.62 475.6 414.4 494.5 443.9
Net income 1 0.392 81.33 374 342.1 380.4 327.4
Net Debt 1 90.7 33.68 -113.5 113.7 -44.81 63.6
Reference price 2 36.70 70.64 133.22 128.34 102.30 86.35
Nbr of stocks (in thousands) 59,489 59,489 59,489 59,489 59,489 59,489
Announcement Date 8/20/21 8/8/22 8/1/23 7/31/24 8/27/25 8/24/26
1INR in Million2INR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.9x1.72x10.13x1.19% 3.93B
16.81x - - 3.01% 3.4B
14.25x1.2x6.08x3.61% 3.11B
9.84x0.64x6.03x4.63% 1.4B
5.7x - - 7.06% 392M
16.68x - - 0.29% 265M
Average 12.86x 1.18x 7.42x 3.3% 2.08B
Weighted average by Cap. 14.13x 1.35x 7.96x 2.84%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA