Company Valuation: SPEL Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026
Market Cap 1 3,977 2,814 2,077 3,180 8,643 9,818
Change - -29.24% -26.19% 53.08% 171.81% 13.59%
Enterprise Value (EV) 1 4,398 3,786 2,903 3,541 8,527 9,728
Change - -13.92% -23.32% 21.95% 140.84% 14.09%
P/E 8.49x 5.22x 4.21x 4.74x 6.9x 8.64x
PBR 1.18x 0.66x 0.45x 0.59x 1.41x 1.34x
PEG - 0.3x -0.5x 0.1x 0.1x -0.93x
Capitalization / Revenue 0.95x 0.45x 0.32x 0.46x 0.9x 1.04x
EV / Revenue 1.05x 0.6x 0.45x 0.51x 0.89x 1.03x
EV / EBITDA 4.99x 3.06x 2.21x 2.84x 3.54x 4.31x
EV / EBIT 6.32x 3.91x 2.9x 3.77x 4.06x 5.02x
EV / FCF 42.8x -6.22x 12.9x 7.08x 9.44x 22.1x
FCF Yield 2.34% -16.1% 7.74% 14.1% 10.6% 4.52%
Dividend per Share 2 0.2315 0.5 0.75 0.8 1 1
Rate of return 1.16% 3.55% 7.21% 5.03% 2.2% 1.93%
EPS 2 2.346 2.698 2.47 3.361 6.604 5.989
Distribution rate 9.87% 18.5% 30.4% 23.8% 15.1% 16.7%
Net sales 1 4,171 6,308 6,431 6,965 9,633 9,409
EBITDA 1 882.3 1,237 1,313 1,245 2,408 2,257
EBIT 1 696.2 968.1 1,002 938 2,098 1,936
Net income 1 460.2 538.9 491.1 641 1,253 1,136
Net Debt 1 421.2 972 826 360.7 -115.9 -89.22
Reference price 2 19.91 14.09 10.40 15.92 45.55 51.74
Nbr of stocks (in thousands) 199,736 199,736 199,736 199,736 189,749 189,749
Announcement Date 10/5/21 9/28/22 9/22/23 10/4/24 9/9/25 9/18/26
1PKR in Million2PKR
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 30.02M
32.5x7.17x18.48x1.23% 240B
30.64x4.72x15.26x1.94% 135B
32.05x3.83x19.81x0.9% 85.34B
92.7x6.8x15.83x2.32% 69.53B
18.67x6.67x29.61x3.96% 69.33B
69.69x1.3x8.57x5.64% 38.27B
11.05x1.1x5.94x2.79% 33.61B
16.89x1.93x11.25x2.34% 27.48B
46.44x5.71x31.43x1.24% 25.67B
Average 38.96x 4.36x 17.35x 2.48% 72B
Weighted average by Cap. 37.43x 5.39x 17.93x 2.04%

Y-o-Y evolution of P/E

Valuation ratios - P/E - SPEL Limited

Historical PBR trend

Valuation ratios - PBR - SPEL Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - SPEL Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - SPEL Limited

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