Company Valuation: Systems Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 104,917 134,729 123,376 181,701 251,686 187,093 - -
Change - 28.41% -8.43% 47.27% 38.52% -25.66% - -
Enterprise Value (EV) 100,200 134,729 116,659 181,701 251,686 187,093 187,093 187,093
Change - 34.46% -13.41% 55.75% 38.52% -25.66% 0% 0%
P/E 23.7x 20.6x 14.3x 24.5x 23x 10.2x 9.59x 7.67x
PBR 8.7x - 3.82x - - - - -
PEG - 0.4x 0.5x -1.7x 0.5x 0.1x 1.61x 0.3x
Capitalization / Revenue 6.86x 4.24x 2.31x 2.69x 3.13x 1.98x 1.56x 1.32x
EV / Revenue 0x 0x 0x 0x 0x 1.98x 1.56x 1.32x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 18.1x 9.9x 8.36x
EV / FCF 0x - 0x - - 10.2x 6.61x 8.59x
FCF Yield 1.46% - 2% - - 9.78% 15.1% 11.6%
Dividend per Share 2 0.5 1 1.2 1.2 2 1.95 2.55 2.9
Rate of return 0.66% 1.03% 1.42% 0.97% 1.17% 1.54% 2.01% 2.28%
EPS 2 3.21 4.69 5.932 5.074 7.44 12.5 13.24 16.55
Distribution rate 15.6% 21.3% 20.2% 23.6% 26.9% 15.6% 19.3% 17.5%
Net sales 1 15,304 31,760 53,435 67,473 80,392 94,705 119,994 141,319
EBITDA 3,542 - 9,631 - - - - -
EBIT 1 3,169 5,363 7,733 8,150 12,006 10,351 18,901 22,367
Net income 1 4,462 6,629 8,689 7,460 11,041 14,306 18,249 21,553
Net Debt -4,718 - -6,717 - - - - -
Reference price 2 75.98 96.79 84.71 124.29 170.88 126.98 126.98 126.98
Nbr of stocks (in thousands) 1,380,782 1,392,026 1,456,418 1,461,908 1,472,881 1,473,404 - -
Announcement Date 3/21/22 4/19/23 3/29/24 3/24/25 4/7/26 - - -
1PKR in Million2PKR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.16x - - 1.54% 674M
23.06x3.76x13.13x2.88% 221B
-131.77x18.12x98.58x-.--% 117B
13.87x1.53x8.03x3.46% 114B
14.91x2.73x10.29x5.51% 88.29B
20.51x5.38x13.21x2.78% 61.88B
14.81x2.16x9.15x5.26% 48.47B
21.96x1.8x11.18x1.33% 43.35B
21.25x1.61x10.31x0.89% 41.03B
17.85x2.28x10.7x4.89% 37.07B
Average 2.66x 4.37x 20.51x 2.85% 77.32B
Weighted average by Cap. -3.77x 5.22x 24.36x 2.87%

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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  3. SYS Stock
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