Financials Anglo American Platinum Limited

Equities

AMS

ZAE000013181

Non-Gold Precious Metals & Minerals

End-of-day quote Johannesburg S.E. 23:00:00 17/06/2024 BST 5-day change 1st Jan Change
588 ZAR +2.16% Intraday chart for Anglo American Platinum Limited +4.53% -39.00%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 343,061 371,810 476,350 374,240 253,326 154,481 - -
Enterprise Value (EV) 1 325,761 353,110 424,998 374,240 236,604 135,001 130,776 125,606
P/E ratio 18.6 x 12.5 x 6.05 x 7.63 x 19.5 x 9.82 x 7.42 x 8.11 x
Yield 4.02% 3.16% 16.5% - 2.21% 3.74% 5.1% 6.01%
Capitalization / Revenue 3.45 x 2.7 x 2.22 x 2.28 x 2.03 x 1.44 x 1.4 x 1.31 x
EV / Revenue 3.27 x 2.56 x 1.98 x 2.28 x 1.9 x 1.26 x 1.18 x 1.06 x
EV / EBITDA 10.9 x 8.49 x 3.92 x 5.06 x 9.68 x 5.15 x 4.3 x 3.82 x
EV / FCF 16.4 x 25.7 x 5.13 x - -54.5 x 20.4 x 19.1 x 7.09 x
FCF Yield 6.09% 3.89% 19.5% - -1.83% 4.9% 5.23% 14.1%
Price to Book 5.66 x 4.84 x 4.68 x - 2.55 x 1.39 x 1.25 x 1.13 x
Nbr of stocks (in thousands) 262,413 257,638 262,196 262,647 262,787 262,713 - -
Reference price 2 1,307 1,443 1,817 1,425 964.0 588.0 588.0 588.0
Announcement Date 15/02/20 22/02/21 21/02/22 15/01/23 19/02/24 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 99,551 137,790 214,568 164,100 124,583 107,118 110,707 118,307
EBITDA 1 29,950 41,583 108,438 73,900 24,434 26,192 30,446 32,866
EBIT 1 26,026 38,852 102,615 68,345 17,884 23,495 27,208 29,331
Operating Margin 26.14% 28.2% 47.82% 41.65% 14.36% 21.93% 24.58% 24.79%
Earnings before Tax (EBT) 1 25,305 40,858 108,311 66,768 18,109 23,408 26,138 26,170
Net income 1 18,500 30,300 78,978 49,200 13,041 16,009 20,983 18,736
Net margin 18.58% 21.99% 36.81% 29.98% 10.47% 14.95% 18.95% 15.84%
EPS 2 70.46 115.2 300.2 186.7 49.53 59.85 79.21 72.48
Free Cash Flow 1 19,838 13,729 82,855 - -4,338 6,612 6,841 17,709
FCF margin 19.93% 9.96% 38.61% - -3.48% 6.17% 6.18% 14.97%
FCF Conversion (EBITDA) 66.24% 33.02% 76.41% - - 25.24% 22.47% 53.88%
FCF Conversion (Net income) 107.23% 45.31% 104.91% - - 41.3% 32.6% 94.52%
Dividend per Share 2 52.60 45.58 300.0 - 21.30 21.98 29.99 35.31
Announcement Date 15/02/20 22/02/21 21/02/22 15/01/23 19/02/24 - - -
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1
Net sales 1 - - 107,532 107,036 85,580 - 64,677
EBITDA 1 - - 63,328 45,110 42,757 - 13,445
EBIT 1 - - 60,951 41,664 40,133 - 10,547
Operating Margin - - 56.68% 38.93% 46.9% - 16.31%
Earnings before Tax (EBT) - - - - - - -
Net income 1 6,686 - 46,371 32,607 26,655 - 7,741
Net margin - - 43.12% 30.46% 31.15% - 11.97%
EPS 2 25.12 - 176.0 - 101.1 85.53 29.38
Dividend per Share 2 - 35.35 70.00 49.00 81.00 - 12.00
Announcement Date 27/07/20 22/02/21 26/07/21 21/02/22 25/07/22 15/01/23 24/07/23
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 17,300 18,700 51,352 - 16,722 19,480 23,704 28,875
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 19,838 13,729 82,855 - -4,338 6,612 6,841 17,709
ROE (net income / shareholders' equity) 34.3% 43.7% 87.5% - 14.3% 13.7% 16.8% 14.4%
ROA (Net income/ Total Assets) 19.1% 24.4% 48.7% - 8.11% 9.55% 14.7% 11%
Assets 1 96,721 124,027 162,263 - 160,819 167,580 142,447 170,572
Book Value Per Share 2 231.0 298.0 389.0 - 378.0 424.0 471.0 519.0
Cash Flow per Share 2 108.0 88.10 366.0 - 62.80 87.20 87.90 110.0
Capex 1 8,600 9,471 13,631 - 20,892 19,149 19,090 19,294
Capex / Sales 8.64% 6.87% 6.35% - 16.77% 17.88% 17.24% 16.31%
Announcement Date 15/02/20 22/02/21 21/02/22 15/01/23 19/02/24 - - -
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
10
Last Close Price
588 ZAR
Average target price
740.5 ZAR
Spread / Average Target
+25.93%
Consensus
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