Company Valuation: Napier Port Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 629.6 575.9 467 450.7 636.8 737.4 - -
Change - -8.53% -18.91% -3.48% 41.29% 15.8% - -
Enterprise Value (EV) 1 705.3 705.5 591.1 559.5 743.1 869.4 880.1 878.7
Change - 0.04% -16.22% -5.35% 32.81% 17.01% 1.23% -0.16%
P/E 26.3x 28.8x 29.3x 18.8x 21.3x 21.6x 19.5x 16.6x
PBR 1.77x 1.47x 1.18x 1.08x 1.49x 1.69x 1.63x 1.59x
PEG - -1.7x -1.5x 0.4x 0.9x 1.5x 1.8x 1x
Capitalization / Revenue 5.75x 5.03x 3.94x 3.19x 4.04x 4.21x 3.97x 3.74x
EV / Revenue 6.44x 6.16x 4.99x 3.96x 4.71x 4.97x 4.74x 4.45x
EV / EBITDA 16.1x 17.6x 15.9x 10.8x 11.6x 11.7x 10.9x 9.61x
EV / EBIT 23x 26.6x 28.1x 15.8x 16.6x 15.9x 14.8x 12.8x
EV / FCF - - - - 21.1x 272x 72.7x 25.6x
FCF Yield - - - - 4.74% 0.37% 1.37% 3.9%
Dividend per Share 2 0.075 0.075 0.0525 0.09 0.145 0.1318 0.15 0.187
Rate of return 2.38% 2.6% 2.24% 3.98% 4.55% 3.56% 4.05% 5.05%
EPS 2 0.12 0.1 0.08 0.12 0.15 0.1715 0.1896 0.2226
Distribution rate 62.5% 75% 65.6% 75% 96.7% 76.9% 79.1% 84%
Net sales 1 109.5 114.5 118.4 141.4 157.7 175 185.6 197.3
EBITDA 1 43.79 40.09 37.24 51.96 64.17 74.28 80.89 91.4
EBIT 1 30.71 26.51 21.01 35.48 44.88 54.53 59.34 68.56
Net income 1 23.16 20.42 16.59 24.83 30.88 34.76 37.9 44.49
Net Debt 1 75.66 129.6 124.1 108.8 106.2 132 142.7 141.3
Reference price 2 3.150 2.880 2.340 2.260 3.190 3.700 3.700 3.700
Nbr of stocks (in thousands) 199,876 199,959 199,567 199,434 199,637 199,308 - -
Announcement Date 11/15/21 11/15/22 11/13/23 11/18/24 11/19/25 - - -
1NZD in Million2NZD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.87x4.83x11.38x3.68% 409M
23.95x8.64x13.42x2.11% 30.09B
36.24x12.11x22.93x2.46% 3.08B
16.7x4x9.3x2.82% 1.26B
16.67x1.44x3.03x2.32% 823M
14.14x5.63x9.32x4.95% 821M
Average 21.43x 6.11x 11.57x 3.06% 6.08B
Weighted average by Cap. 24.32x 8.50x 13.74x 2.25%

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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