Company Valuation: National Atomic Company Kazatomprom

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,380,533 3,338,957 4,787,723 5,233,819 7,277,287 9,010,308 - -
Change - -23.78% 43.39% 9.32% 39.04% 23.81% - -
Enterprise Value (EV) 1 4,260,154 3,306,935 4,662,180 5,089,359 7,137,514 8,808,432 8,385,255 7,727,887
Change - -22.38% 40.98% 9.16% 40.24% 23.41% -4.8% -7.84%
P/E 31.1x 9.59x 11.4x 6x 12.8x 15.4x 11.4x -
PBR - - - - - - - -
PEG - 0x 0.6x 0x -0.4x 6.13x 0.3x -
Capitalization / Revenue 6.34x 3.34x 3.34x 2.89x 4.04x 4.06x 3.21x 2.9x
EV / Revenue 6.17x 3.3x 3.25x 2.81x 3.96x 3.97x 2.99x 2.49x
EV / EBITDA 15.4x 6.68x 7.3x 4.64x 6.3x 7.41x 5.29x 4.41x
EV / EBIT 17.9x 7.25x 8.57x 5.22x 7.3x 10.3x 6.55x 5.44x
EV / FCF 59.6x 15.8x 14.4x 14.9x 12.3x 14.6x 9.08x 6.71x
FCF Yield 1.68% 6.33% 6.93% 6.73% 8.13% 6.85% 11% 14.9%
Dividend per Share 2 579 877 775 1,213 1,264 960.6 2,206 2,261
Rate of return 3.43% 6.81% 4.2% 6.01% 4.51% 2.76% 6.35% 6.51%
EPS 2 543 1,342 1,616 3,363 2,200 2,255 3,042 -
Distribution rate 107% 65.4% 48% 36.1% 57.5% 42.6% 72.5% -
Net sales 1 691,011 1,001,171 1,435,000 1,813,000 1,803,000 2,221,129 2,803,492 3,108,604
EBITDA 1 275,800 495,400 639,000 1,097,000 1,133,000 1,189,250 1,585,537 1,751,556
EBIT 1 238,200 456,000 543,838 974,883 978,217 853,246 1,279,293 1,419,751
Net income 1 220,000 473,000 580,000 872,263 570,000 582,519 844,173 1,043,268
Net Debt 1 -120,379 -32,022 -125,543 -144,460 -139,773 -201,876 -625,053 -1,282,421
Reference price 2 16,890.00 12,874.00 18,460.00 20,180.01 28,059.00 34,741.00 34,741.00 34,741.00
Nbr of stocks (in thousands) 259,357 259,357 259,357 259,357 259,357 259,357 - -
Announcement Date 3/16/22 3/17/23 3/15/24 3/18/25 3/20/26 - - -
1KZT in Million2KZT
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.34x3.84x7.38x2.78% 19.44B
-74.65x - -92.79x - 7.01B
52.25x8.61x24.72x-.--% 3.74B
-58.54x33.07x-90.88x - 3.68B
-32.11x198.29x-89.59x - 3.08B
-137.35x1120.37x-80.41x-.--% 1.15B
-174.92x392681.17x-113.55x-.--% 662M
Average -58.57x 65,674.22x -62.16x 0.69% 5.54B
Weighted average by Cap. -15.93x 8,258.89x -30.76x 2.16%

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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