SHANG PROPERTIES, INC. |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 3.85 PHP | -3.75% |
|
+2.94% | +4.90% |
| 05-09 | Shang Properties, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| 04-15 | Shang Properties, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 14,857 | 15,238 | 12,905 | 12,429 | 12,095 | 17,476 |
| Enterprise Value (EV) 1 | 18,367 | 18,490 | 17,201 | 18,727 | 19,051 | 26,148 |
| P/E ratio | 4.93 x | 4.99 x | 8.78 x | 5.85 x | 3.33 x | 3.17 x |
| Yield | 5.63% | 5.7% | 4.58% | 4.37% | 9.84% | 7.89% |
| Capitalization / Revenue | 1.33 x | 1.33 x | 2.01 x | 2.5 x | 1.3 x | 1.42 x |
| EV / Revenue | 1.64 x | 1.61 x | 2.69 x | 3.76 x | 2.05 x | 2.13 x |
| EV / EBITDA | 3.86 x | 3.52 x | 7.12 x | 8.43 x | 3.88 x | 3.51 x |
| EV / FCF | 3.58 x | 5.41 x | 42.3 x | 21.7 x | 20.3 x | 10.4 x |
| FCF Yield | 27.9% | 18.5% | 2.36% | 4.6% | 4.92% | 9.65% |
| Price to Book | 0.45 x | 0.44 x | 0.36 x | 0.33 x | 0.3 x | 0.39 x |
| Nbr of stocks (in thousands) | 4,761,918 | 4,761,918 | 4,761,918 | 4,761,918 | 4,761,918 | 4,761,918 |
| Reference price 2 | 3.120 | 3.200 | 2.710 | 2.610 | 2.540 | 3.670 |
| Announcement Date | 4/16/19 | 6/29/20 | 5/17/21 | 5/16/22 | 4/18/23 | 4/15/24 |
1PHP in Million2PHP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 11,180 | 11,463 | 6,406 | 4,979 | 9,283 | 12,278 |
| EBITDA 1 | 4,763 | 5,247 | 2,417 | 2,222 | 4,910 | 7,451 |
| EBIT 1 | 3,722 | 4,132 | 1,305 | 1,227 | 4,522 | 7,074 |
| Operating Margin | 33.29% | 36.05% | 20.37% | 24.64% | 48.71% | 57.62% |
| Earnings before Tax (EBT) 1 | 4,832 | 4,477 | 1,826 | 1,323 | 4,666 | 7,151 |
| Net income 1 | 3,012 | 3,056 | 1,470 | 2,124 | 3,634 | 5,518 |
| Net margin | 26.94% | 26.66% | 22.95% | 42.66% | 39.15% | 44.95% |
| EPS 2 | 0.6326 | 0.6418 | 0.3087 | 0.4460 | 0.7630 | 1.159 |
| Free Cash Flow 1 | 5,125 | 3,421 | 406.8 | 861.5 | 937.6 | 2,524 |
| FCF margin | 45.84% | 29.84% | 6.35% | 17.3% | 10.1% | 20.56% |
| FCF Conversion (EBITDA) | 107.6% | 65.19% | 16.83% | 38.77% | 19.1% | 33.87% |
| FCF Conversion (Net income) | 170.13% | 111.94% | 27.67% | 40.56% | 25.8% | 45.74% |
| Dividend per Share 2 | 0.1755 | 0.1825 | 0.1240 | 0.1140 | 0.2500 | 0.2897 |
| Announcement Date | 4/16/19 | 6/29/20 | 5/17/21 | 5/16/22 | 4/18/23 | 4/15/24 |
1PHP in Million2PHP
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 3,510 | 3,252 | 4,296 | 6,299 | 6,956 | 8,671 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.7368 x | 0.6197 x | 1.777 x | 2.834 x | 1.417 x | 1.164 x |
| Free Cash Flow 1 | 5,125 | 3,421 | 407 | 861 | 938 | 2,524 |
| ROE (net income / shareholders' equity) | 9.42% | 8.52% | 3.43% | 5.18% | 8.97% | 12.7% |
| ROA (Net income/ Total Assets) | 3.85% | 4.18% | 1.29% | 1.21% | 4.3% | 6.21% |
| Assets 1 | 78,163 | 73,133 | 114,048 | 175,833 | 84,497 | 88,793 |
| Book Value Per Share 2 | 6.880 | 7.350 | 7.500 | 7.830 | 8.430 | 9.310 |
| Cash Flow per Share 2 | 0.5100 | 0.5500 | 0.3300 | 0.2900 | 0.2800 | 0.3000 |
| Capex 1 | 25.6 | - | 104 | 27.2 | - | 89 |
| Capex / Sales | 0.23% | - | 1.62% | 0.55% | - | 0.73% |
| Announcement Date | 4/16/19 | 6/29/20 | 5/17/21 | 5/16/22 | 4/18/23 | 4/15/24 |
1PHP in Million2PHP
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +4.90% | 318M | |
| +10.00% | 28.11B | |
| -7.82% | 27.28B | |
| +25.23% | 26.41B | |
| +13.66% | 24.87B | |
| +43.67% | 22.93B | |
| +9.88% | 21.18B | |
| -0.38% | 19.18B | |
| +23.84% | 16.19B | |
| -10.20% | 15.82B |
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