Financials Castleview Property Fund Limited

Equities

CVW

ZAE000251633

Commercial REITs

End-of-day quote Johannesburg S.E. 23:00:00 27/06/2024 BST 5-day change 1st Jan Change
8.5 ZAR -.--% Intraday chart for Castleview Property Fund Limited -.--% -.--%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024
Capitalization 1 165 170.9 176.3 187.1 291.4 8,367
Enterprise Value (EV) 1 304.8 333.6 338.3 373 10,960 18,680
P/E ratio 16.2 x 8.15 x -7.83 x 9.89 x 2.26 x 129 x
Yield 7.45% 6.41% 5.32% 8.95% 2.09% -
Capitalization / Revenue 4.13 x 3.76 x 3.55 x 3.25 x 0.18 x 4.01 x
EV / Revenue 7.62 x 7.33 x 6.82 x 6.47 x 6.82 x 8.96 x
EV / EBITDA 12.5 x 11.8 x 12.9 x - - -
EV / FCF 84 x 45.6 x 58.6 x 28.3 x -15.5 x -13 x
FCF Yield 1.19% 2.19% 1.71% 3.53% -6.45% -7.67%
Price to Book 0.98 x 0.97 x 1.15 x 1.08 x 0.83 x 0.98 x
Nbr of stocks (in thousands) 33,000 34,189 35,265 37,411 41,043 984,411
Reference price 2 5.000 5.000 5.000 5.000 7.100 8.500
Announcement Date 28/06/19 31/07/20 30/06/21 31/05/22 01/08/23 28/06/24
1ZAR in Million2ZAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024
Net sales 1 39.99 45.49 49.61 57.62 1,608 2,085
EBITDA 1 24.38 28.17 26.33 - - -
EBIT 1 24.19 28.06 26.22 29.81 918.2 914.7
Operating Margin 60.49% 61.69% 52.86% 51.73% 57.1% 43.86%
Earnings before Tax (EBT) 1 10.61 18.74 -22.27 18.6 2,022 292.8
Net income 1 10.16 20.41 -22.25 18.6 1,780 64.91
Net margin 25.4% 44.85% -44.85% 32.27% 110.71% 3.11%
EPS 2 0.3078 0.6136 -0.6382 0.5057 3.138 0.0661
Free Cash Flow 1 3.628 7.322 5.77 13.16 -706.6 -1,433
FCF margin 9.07% 16.09% 11.63% 22.84% -43.94% -68.73%
FCF Conversion (EBITDA) 14.88% 26% 21.92% - - -
FCF Conversion (Net income) 35.72% 35.88% - 70.78% - -
Dividend per Share 2 0.3723 0.3205 0.2660 0.4474 0.1485 -
Announcement Date 28/06/19 31/07/20 30/06/21 31/05/22 01/08/23 28/06/24
1ZAR in Million2ZAR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024
Net Debt 1 140 163 162 186 10,668 10,312
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.735 x 5.776 x 6.153 x - - -
Free Cash Flow 1 3.63 7.32 5.77 13.2 -707 -1,433
ROE (net income / shareholders' equity) 6.04% 11.9% -13.5% 11.4% 39.2% 2.89%
ROA (Net income/ Total Assets) 4.35% 5.2% 4.84% 5.34% 4.85% 2.61%
Assets 1 233.8 392.3 -459.9 347.9 36,690 2,491
Book Value Per Share 2 5.080 5.150 4.360 4.610 8.550 8.710
Cash Flow per Share 2 0.1100 0.1000 0.0500 0.1500 0.2100 0.2600
Capex 1 0.63 - - - - -
Capex / Sales 1.57% - - - - -
Announcement Date 28/06/19 31/07/20 30/06/21 31/05/22 01/08/23 28/06/24
1ZAR in Million2ZAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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