Financials YPF Sociedad Anónima Nyse

Equities

YPF

US9842451000

Oil & Gas Refining and Marketing

Market Closed - Nyse Other stock markets 16:00:02 2024-05-15 EDT			5-day change	1st Jan Change
23.91 ^USD	+3.87%		-2.25%	+39.09%

05-10	Argentina oil firm YPF sees negative 2024 cash flow amid investment push	RE
05-10	Transcript : YPF Sociedad Anónima, Q1 2024 Earnings Call, May 10, 2024

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	337,148	272,900	306,174	1,237,893	6,563,683	10,336,555	-	-
Enterprise Value (EV) ¹	851,218	913,924	1,070,651	2,441,470	12,317,320	17,342,653	17,757,966	16,181,981
P/E ratio	-9.87 x	-3.91 x	-120 x	2.76 x	-5.89 x	60.1 x	-	-
Yield	0.68%	-	-	-	-	-	-	-
Capitalization / Revenue	0.5 x	0.32 x	0.21 x	0.33 x	0.45 x	0.64 x	0.66 x	0.65 x
EV / Revenue	1.25 x	1.08 x	0.75 x	0.65 x	0.84 x	1.07 x	1.14 x	1.02 x
EV / EBITDA	5.01 x	6.96 x	2.58 x	2.46 x	3.59 x	3.92 x	3.43 x	2.97 x
EV / FCF	15.3 x	9.66 x	5.64 x	8.1 x	63.6 x	-49.6 x	85.1 x	21.6 x
FCF Yield	6.54%	10.4%	17.7%	12.3%	1.57%	-2.01%	1.17%	4.62%
Price to Book	0.62 x	0.4 x	-	-	-	-	-	-
Nbr of stocks (in thousands)	393,313	393,313	393,313	393,313	393,313	393,313	-	-
Reference price ²	857.2	693.8	778.4	3,147	16,688	26,281	26,281	26,281
Announcement Date	3/6/20	3/4/21	3/3/22	3/10/23	3/6/24	-	-	-

¹ARS in Million²ARS

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	678,595	846,606	1,430,207	3,774,415	14,647,287	16,273,675	15,639,510	15,790,560
EBITDA ¹	169,857	131,289	414,758	993,011	3,433,579	4,428,001	5,176,858	5,441,427
EBIT ¹	20,417	-117,925	66,984	522,902	736,976	1,669,607	2,232,825	2,479,325
Operating Margin	3.01%	-13.93%	4.68%	13.85%	5.03%	10.26%	14.28%	15.7%
Earnings before Tax (EBT) ¹	-7,010	-82,168	71,845	614,950	-217,454	2,087,139	2,221,857	2,660,288
Net income ¹	-34,071	-97,699	-2,485	448,334	-1,110,117	1,405,102	1,254,740	1,426,492
Net margin	-5.02%	-11.54%	-0.17%	11.88%	-7.58%	8.63%	8.02%	9.03%
EPS ²	-86.85	-177.4	-6.482	1,141	-2,833	437.1	-	-
Free Cash Flow ¹	55,682	94,600	189,823	301,296	193,677	-349,318	208,654	748,059
FCF margin	8.21%	11.17%	13.27%	7.98%	1.32%	-2.15%	1.33%	4.74%
FCF Conversion (EBITDA)	32.78%	72.05%	45.77%	30.34%	5.64%	-	4.03%	13.75%
FCF Conversion (Net income)	-	-	-	67.2%	-	-	16.63%	52.44%
Dividend per Share ²	5.850	-	-	-	-	-	-	-
Announcement Date	3/6/20	3/4/21	3/3/22	3/10/23	3/6/24	-	-	-

¹ARS in Million²ARS

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	362,473	391,098	425,651	650,788	830,618	932,391	970,574	1,252,103	1,576,400	3,548,652	3,804,071	4,107,608	4,162,180	3,713,309
EBITDA ¹	115,519	90,104	113,819	201,068	240,252	187,281	239,094	287,626	324,100	915,508	1,098,856	1,285,686	1,281,253	1,177,648
EBIT ¹	42,844	-21,175	44,497	113,938	129,108	93,741	76,721	63,249	41,650	451,831	587,822	627,390	592,976	378,120
Operating Margin	11.82%	-5.41%	10.45%	17.51%	15.54%	10.05%	7.9%	5.05%	2.64%	12.73%	15.45%	15.27%	14.25%	10.18%
Earnings before Tax (EBT) ¹	39,040	-2,269	52,811	131,230	-	124,453	97,561	130,219	-47,950	-846,972	473,082	807,139	1,883,323	1,481,945
Net income ¹	23,224	26,685	29,274	105,896	108,579	93,339	78,095	95,875	-44,800	-1,573,794	572,817	437,521	374,125	253,985
Net margin	6.41%	6.82%	6.88%	16.27%	13.07%	10.01%	8.05%	7.66%	-2.84%	-44.35%	15.06%	10.65%	8.99%	6.84%
EPS ²	-	-	-	-	-	239.5	-	-	-115.5	-4,017	1,465	193.4	218.6	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/9/21	3/3/22	5/11/22	8/10/22	11/10/22	3/10/23	5/11/23	8/10/23	11/9/23	3/6/24	5/10/24	-	-	-

¹ARS in Million²ARS

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	514,070	641,024	764,477	1,203,577	5,753,637	7,006,098	7,421,410	5,845,426
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.026 x	4.883 x	1.843 x	1.212 x	1.676 x	1.582 x	1.434 x	1.074 x
Free Cash Flow ¹	55,682	94,600	189,823	301,296	193,677	-349,318	208,654	748,059
ROE (net income / shareholders' equity)	-7.56%	-11.4%	-0.28%	23.7%	9.96%	12.1%	15.8%	20.1%
ROA (Net income/ Total Assets)	-2.65%	-3.98%	-0.1%	9.06%	-5.15%	38.7%	11.9%	9.9%
Assets ¹	1,283,664	2,452,344	2,494,853	4,950,409	21,553,583	3,631,224	10,574,244	14,403,188
Book Value Per Share	1,383	1,725	-	-	-	-	-	-
Cash Flow per Share ²	-	533.0	1,012	2,915	12,769	8,315	-	-
Capex ¹	161,455	114,616	264,909	841,460	4,807,243	4,456,540	3,883,003	3,701,729
Capex / Sales	23.79%	13.54%	18.52%	22.29%	32.82%	27.38%	24.83%	23.44%
Announcement Date	3/6/20	3/4/21	3/3/22	3/10/23	3/6/24	-	-	-

¹ARS in Million²ARS

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for YPF Sociedad Anónima

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

26,281 ARS

Average target price

7,140 ARS

Spread / Average Target

-72.83%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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