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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 15.0x - 16.6x | 15.8x |
Selected Fwd P/E Multiple | 7.5x - 8.3x | 7.9x |
Fair Value | $1.52 - $1.68 | $1.60 |
Upside | -1.5% - 8.9% | 3.7% |
Benchmarks | - | Full Ticker |
African Rainbow Minerals Limited | - | OTCPK:AFBO.F |
Harmony Gold Mining Company Limited | - | NYSE:HMY |
Valterra Platinum Limited | - | OTCPK:ANGP.Y |
Pan African Resources PLC | - | OTCPK:PAFR.Y |
Sibanye Stillwater Limited | - | NYSE:SBSW |
DRDGOLD Limited | - | OTCPK:DRDG.F |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
AFBO.F | HMY | ANGP.Y | PAFR.Y | SBSW | DRDG.F | |||
OTCPK:AFBO.F | NYSE:HMY | OTCPK:ANGP.Y | OTCPK:PAFR.Y | NYSE:SBSW | OTCPK:DRDG.F | |||
Historical Net Income Growth | ||||||||
5Y CAGR | -2.4% | NM- | -17.5% | 15.8% | NM- | 76.1% | ||
3Y CAGR | -37.1% | 19.1% | -55.3% | 2.0% | NM- | -2.6% | ||
Latest Twelve Months | -32.3% | 18.2% | -45.9% | 15.3% | 80.7% | 28.0% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 58.1% | 6.8% | 23.8% | 19.6% | 3.8% | 22.1% | ||
Prior Fiscal Year | 55.1% | 9.8% | 10.5% | 19.0% | -33.2% | 23.3% | ||
Latest Fiscal Year | 27.6% | 14.0% | 6.5% | 21.2% | -6.5% | 21.3% | ||
Latest Twelve Months | 29.4% | 15.7% | 6.5% | 22.6% | -6.5% | 24.2% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 92.3x | 7.1x | 7.1x | 11.4x | 9.1x | 9.0x | ||
Price / LTM Sales | 2.7x | 2.4x | 1.7x | 3.4x | 0.7x | 3.3x | ||
LTM P/E Ratio | 9.3x | 15.1x | 26.2x | 15.1x | -10.6x | 13.6x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | -10.6x | 15.1x | 26.2x | |||||
Historical LTM P/E Ratio | 7.8x | 10.1x | 42.9x | |||||
Selected P/E Multiple | 15.0x | 15.8x | 16.6x | |||||
(x) LTM Net Income | 1,710 | 1,710 | 1,710 | |||||
(=) Equity Value | 25,616 | 26,964 | 28,313 | |||||
(/) Shares Outstanding | 865.6 | 865.6 | 865.6 | |||||
Implied Value Range | 29.59 | 31.15 | 32.71 | |||||
FX Rate: ZAR/USD | 18.0 | 18.0 | 18.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 1.65 | 1.73 | 1.82 | 1.54 | ||||
Upside / (Downside) | 6.9% | 12.5% | 18.1% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | AFBO.F | HMY | ANGP.Y | PAFR.Y | SBSW | DRDG.F | |
Value of Common Equity | 29,661 | 163,244 | 183,149 | 1,184 | 77,925 | 23,971 | |
(/) Shares Outstanding | 176.1 | 622.2 | 1,533.8 | 109.1 | 711.5 | 865.6 | |
Implied Stock Price | 168.41 | 262.37 | 119.41 | 10.85 | 109.52 | 27.69 | |
FX Conversion Rate to Trading Currency | 17.98 | 17.98 | 17.98 | 1.00 | 17.98 | 17.98 | |
Implied Stock Price (Trading Cur) | 9.36 | 14.59 | 6.64 | 10.85 | 6.09 | 1.54 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 17.98 | 17.98 | 17.98 | 1.00 | 17.98 | 17.98 |