Financials Safari Investments RSA Limited

Equities

SAR

ZAE000188280

Commercial REITs

End-of-day quote Johannesburg S.E. 18:00:00 2024-05-08 EDT 5-day change 1st Jan Change
5.99 ZAR 0.00% Intraday chart for Safari Investments RSA Limited +14.75% +3.28%

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 2,101 1,456 1,026 979.7 1,418 1,444
Enterprise Value (EV) 1 2,433 2,233 2,138 2,340 2,733 2,750
P/E ratio 13.5 x 11.7 x 7.9 x 3.66 x 5.59 x 4.47 x
Yield 10.1% 10.7% 13.9% 11.1% 10.4% 11.6%
Capitalization / Revenue 8.45 x 4.86 x 2.8 x 2.86 x 3.41 x 3.16 x
EV / Revenue 9.79 x 7.46 x 5.83 x 6.83 x 6.57 x 6.02 x
EV / EBITDA - 12,393,162 x 9,537,606 x 10,920,720 x 12,959,918 x 10,996,173 x
EV / FCF 17.2 x 6.13 x 28.6 x -16.5 x -57.5 x 21.7 x
FCF Yield 5.8% 16.3% 3.5% -6.04% -1.74% 4.62%
Price to Book 0.82 x 0.65 x 0.52 x 0.46 x 0.62 x 0.59 x
Nbr of stocks (in thousands) 311,186 311,136 310,826 257,826 257,826 257,826
Reference price 2 6.750 4.680 3.300 3.800 5.500 5.600
Announcement Date 18-06-27 19-06-24 20-07-13 21-06-30 22-06-29 23-06-29
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 248.6 299.4 366.8 342.7 416.1 456.9
EBITDA - 180.2 224.2 214.3 210.9 250.1
EBIT 1 177.5 180.2 224 214.1 210.6 249.8
Operating Margin 71.37% 60.18% 61.08% 62.46% 50.61% 54.68%
Earnings before Tax (EBT) 1 109.9 115.7 110 262.2 263 339.1
Net income 1 131.3 124 107.7 267.6 253.7 322.9
Net margin 52.82% 41.41% 29.35% 78.08% 60.98% 70.67%
EPS 2 0.5000 0.3985 0.4176 1.038 0.9837 1.252
Free Cash Flow 1 141.2 364.2 74.8 -141.4 -47.55 127
FCF margin 56.78% 121.64% 20.39% -41.27% -11.43% 27.79%
FCF Conversion (EBITDA) - 202.13% 33.36% - - 50.77%
FCF Conversion (Net income) 107.5% 293.77% 69.48% - - 39.32%
Dividend per Share 2 0.6800 0.5000 0.4600 0.4200 0.5700 0.6500
Announcement Date 18-06-27 19-06-24 20-07-13 21-06-30 22-06-29 23-06-29
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 333 777 1,113 1,361 1,315 1,307
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) - 4.312 x 4.963 x 6.349 x 6.235 x 5.224 x
Free Cash Flow 1 141 364 74.8 -141 -47.6 127
ROE (net income / shareholders' equity) 6.21% 5.15% 5.09% 13% 11.5% 13.7%
ROA (Net income/ Total Assets) 3.97% 3.6% 4.18% 3.86% 3.66% 4.19%
Assets 1 3,310 3,446 2,573 6,927 6,942 7,707
Book Value Per Share 2 8.240 7.230 6.380 8.340 8.820 9.430
Cash Flow per Share 2 0.0100 0.0200 0.0200 0.0200 0.0300 0.0400
Capex - 0.02 1.06 0.26 0.12 0.15
Capex / Sales - 0.01% 0.29% 0.08% 0.03% 0.03%
Announcement Date 18-06-27 19-06-24 20-07-13 21-06-30 22-06-29 23-06-29
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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