Financials Panora Gayrimenkul Yatirim Ortakligi

Equities

PAGYO

TREPGYO00013

Commercial REITs

Delayed Borsa Istanbul 12:28:33 08/05/2024 BST 5-day change 1st Jan Change
39.58 TRY -0.30% Intraday chart for Panora Gayrimenkul Yatirim Ortakligi -1.94% +11.32%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 425.4 364.5 539.4 548.1 800.4 2,626
Enterprise Value (EV) 1 404 334.9 509.4 534.9 778.6 2,531
P/E ratio 2.21 x 5.51 x 8.62 x 18.6 x 3.21 x 1.43 x
Yield - - - - 4.46% 2.33%
Capitalization / Revenue 5.92 x 4.41 x 6.09 x 10.3 x 10.6 x 15.2 x
EV / Revenue 5.62 x 4.05 x 5.75 x 10.1 x 10.4 x 14.6 x
EV / EBITDA 8.7 x 6.22 x 8.83 x 18.8 x 16.3 x 22.1 x
EV / FCF 29.2 x 10.5 x 14.7 x 15.7 x 87.6 x 45.9 x
FCF Yield 3.42% 9.48% 6.79% 6.36% 1.14% 2.18%
Price to Book 0.46 x 0.39 x 0.56 x 0.59 x 0.69 x 0.89 x
Nbr of stocks (in thousands) 87,000 87,000 87,000 87,000 87,000 87,000
Reference price 2 4.890 4.190 6.200 6.300 9.200 30.18
Announcement Date 21/02/18 21/02/19 26/02/20 24/02/21 02/03/22 08/03/23
1TRY in Million2TRY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 71.84 82.66 88.6 53.03 75.22 172.9
EBITDA 1 46.43 53.86 57.66 28.48 47.68 114.5
EBIT 1 46.31 53.8 57.52 28.34 47.55 114.4
Operating Margin 64.47% 65.08% 64.93% 53.45% 63.22% 66.16%
Earnings before Tax (EBT) 1 192.1 66.25 62.51 29.29 250.1 1,837
Net income 1 192.1 66.19 62.54 29.43 249.7 1,838
Net margin 267.37% 80.08% 70.59% 55.5% 331.95% 1,062.85%
EPS 2 2.208 0.7608 0.7188 0.3383 2.870 21.12
Free Cash Flow 1 13.83 31.74 34.57 34.01 8.884 55.1
FCF margin 19.25% 38.4% 39.02% 64.13% 11.81% 31.87%
FCF Conversion (EBITDA) 29.78% 58.93% 59.95% 119.43% 18.63% 48.13%
FCF Conversion (Net income) 7.2% 47.95% 55.27% 115.55% 3.56% 3%
Dividend per Share - - - - 0.4100 0.7032
Announcement Date 21/02/18 21/02/19 26/02/20 24/02/21 02/03/22 08/03/23
1TRY in Million2TRY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 21.5 29.7 30 13.2 21.8 94.7
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 13.8 31.7 34.6 34 8.88 55.1
ROE (net income / shareholders' equity) 22.7% 7.08% 6.56% 3.11% 23.9% 89.2%
ROA (Net income/ Total Assets) 3.37% 3.57% 3.73% 1.84% 2.79% 3.43%
Assets 1 5,702 1,856 1,675 1,601 8,948 53,521
Book Value Per Share 2 10.60 10.90 11.00 10.70 13.30 34.00
Cash Flow per Share 2 0.2500 0.3400 0.3500 0.1500 0.2500 1.160
Capex 1 0.02 0.47 0.15 0.04 0 0.02
Capex / Sales 0.03% 0.57% 0.17% 0.07% 0% 0.01%
Announcement Date 21/02/18 21/02/19 26/02/20 24/02/21 02/03/22 08/03/23
1TRY in Million2TRY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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