Company Valuation: New Zealand Rural Land Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 111.4 124.8 117.1 131.5 159.3 135.5 - -
Change - 12.04% -6.24% 12.35% 21.12% -14.93% - -
Enterprise Value (EV) 1 111.4 224.6 117.1 259.5 288.6 264.3 262.9 262.2
Change - 101.56% -47.89% 121.73% 11.19% -8.43% -0.53% -0.24%
P/E 3.1x - 0.1x - - - - -
PBR - - - 0.57x 0.68x 0.58x 0.58x 0.58x
PEG - - - - - - - -
Capitalization / Revenue - 15.2x - 6.62x 7.15x 5.77x 5.21x 5.18x
EV / Revenue - 27.3x - 13.1x 13x 11.3x 10.1x 10x
EV / EBITDA - 84x - 16.1x 16.5x 13.5x 12.2x 12.2x
EV / EBIT - 85.4x - 16.1x 16.5x 13.5x 12.2x 12.2x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - 0.0358 0.02 0.04 0.0491 0.045 0.05 0.055
Rate of return - 3.31% 2.38% 4.35% 4.5% 4.86% 5.41% 5.95%
EPS 2 0.3713 - 8.06 - - - - -
Distribution rate - - 0.25% - - - - -
Net sales 1 - 8.215 - 19.87 22.28 23.49 26.03 26.17
EBITDA 1 - 2.675 - 16.13 17.45 19.59 21.48 21.57
EBIT 1 - 2.629 - 16.13 17.45 19.59 21.48 21.57
Net income 1 15.12 39.68 10.85 23.08 7.856 6.16 12 10.53
Net Debt 1 - 99.76 - 128 129.3 128.8 127.4 126.7
Reference price 2 1.1500 1.0800 0.8400 0.9200 1.0900 0.9250 0.9250 0.9250
Nbr of stocks (in thousands) 96,900 115,602 139,352 142,954 146,139 146,497 - -
Announcement Date 8/30/21 8/25/22 2/29/24 2/27/25 2/26/26 - - -
1NZD in Million2NZD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- 11.28x13.53x4.84% 80.88M
16.17x5.09x13.7x3.13% 46.06B
9.15x1.55x8.08x3.88% 31.64B
18.59x4.07x16.47x1.31% 28.56B
5.5x0.66x1.4x9.09% 26.47B
14.06x3.11x14.87x2.49% 25.67B
8.19x0.91x3.3x2.73% 20.95B
11.02x2.1x9.8x4.03% 20.89B
10.85x1.54x12.95x3.79% 20.04B
13.6x6.57x17.49x1.57% 19.69B
Average 11.90x 3.69x 11.16x 3.69% 24B
Weighted average by Cap. 12.33x 3.00x 11.06x 3.57%

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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  4. Valuation New Zealand Rural Land Company Limited