Company Valuation: Tivan Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2020 2021 2022 2023 2024 2025
Market Cap 1 69.72 74.97 69.42 110.1 120.2 190.2
Change - 7.53% -7.4% 58.66% 9.09% 58.33%
Enterprise Value (EV) 1 61.27 63.19 54.89 109.1 123.3 184.5
Change - 3.12% -13.13% 98.67% 13.1% 49.54%
P/E -23.9x -24.7x -13.5x -14.2x -1.71x -35.3x
PBR 1.31x 1.18x 0.98x 1.53x 8.69x 4.9x
PEG - 3.87x -0.3x -0.3x -0x 0.4x
Capitalization / Revenue 468x 407x - 1,469x 9,243x 2,757x
EV / Revenue 411x 343x - 1,454x 9,488x 2,673x
EV / EBITDA -20x -21.8x -12.6x -15.2x -1.96x -25.7x
EV / EBIT -19.7x -21.6x -11.1x -15.1x -1.96x -25.5x
EV / FCF -3.79x -4.72x -5.13x -18.9x -2.82x -7.49x
FCF Yield -26.4% -21.2% -19.5% -5.28% -35.5% -13.3%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.002599 -0.002433 -0.0037 -0.005218 -0.0426 -0.002603
Distribution rate - - - - - -
Net sales 1 0.149 0.184 - 0.075 0.013 0.069
EBITDA 1 -3.065 -2.898 -4.35 -7.187 -62.96 -7.182
EBIT 1 -3.103 -2.925 -4.94 -7.233 -63.03 -7.24
Net income 1 -2.885 -2.905 -4.895 -7.082 -67.84 -4.907
Net Debt 1 -8.447 -11.78 -14.53 -1.086 3.191 -5.789
Reference price 2 0.0620 0.0600 0.0500 0.0740 0.0730 0.0920
Nbr of stocks (in thousands) 1,124,545 1,249,497 1,388,418 1,488,418 1,645,949 2,067,820
Announcement Date 9/22/20 9/17/21 9/29/22 9/25/23 9/30/24 9/25/25
1AUD in Million2AUD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 436M
18x3.7x6.59x3.84% 204B
10.85x2.67x5.72x5.4% 155B
13.45x3.94x6.55x3.48% 89.15B
12.03x0.41x5.79x3.26% 81.44B
22.75x6.11x14.18x-.--% 59.23B
25.61x2.72x6.98x1.37% 49.01B
14.37x2.73x5.66x0.7% 26.99B
10.32x3.52x5.23x5.44% 24.21B
12.35x4.35x7.64x4.43% 22.74B
Average 15.53x 3.35x 7.15x 3.1% 71.26B
Weighted average by Cap. 15.53x 3.24x 6.91x 3.53%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Tivan Limited