Company Valuation: Synlait Milk Limited

Data adjusted to current consolidation scope
Fiscal Period: July 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 815.3 699.5 354.1 63.39 361.9 253.3 - -
Change - -14.21% -49.38% -82.1% 470.95% -30% - -
Enterprise Value (EV) 1 1,292 1,041 767.6 615 612.6 371.6 373.5 376.6
Change - -19.41% -26.29% -19.88% -0.39% -39.34% 0.49% 0.84%
P/E ratio -27.1x 18.2x -82.7x -0.35x -8.12x -3.66x 18.1x 14x
PBR 1.06x 0.93x 0.45x 0.1x 0.41x 0.4x 0.39x 0.38x
PEG - -0x 1x -0x 0.1x -0.1x -0x 0.5x
Capitalization / Revenue 0.6x 0.42x 0.22x 0.04x 0.2x 0.15x 0.16x 0.17x
EV / Revenue 0.95x 0.63x 0.48x 0.38x 0.34x 0.23x 0.24x 0.25x
EV / EBITDA 34.6x 8.07x 8.46x -150x 5.71x 9.08x 4.77x 4.63x
EV / EBIT -73.2x 16.6x 24.8x -3.37x 12.2x -10.3x 9.69x 8.49x
EV / FCF -12.9x 5.82x -78.5x -8.12x - -2.82x 124x 29x
FCF Yield -7.76% 17.2% -1.27% -12.3% - -35.5% 0.8% 3.45%
Dividend per Share 2 - - - - - - 0.00486 0.0163
Rate of return - - - - - - 1.16% 3.87%
EPS 2 -0.1377 0.1758 -0.0196 -0.8331 -0.0739 -0.1149 0.0232 0.0301
Distribution rate - - - - - - 21% 54.1%
Net sales 1 1,367 1,661 1,604 1,637 1,827 1,647 1,551 1,532
EBITDA 1 37.3 129.1 90.7 -4.1 107.2 40.95 78.21 81.3
EBIT 1 -17.66 62.6 31 -182.7 50.16 -36.15 38.56 44.37
Net income 1 -28.45 38.52 -4.292 -182.1 -39.82 -81.6 15.01 17.37
Net Debt 1 476.9 341.9 413.5 551.6 250.7 118.3 120.1 123.2
Reference price 2 3.7300 3.2000 1.6200 0.2900 0.6000 0.4200 0.4200 0.4200
Nbr of stocks (in thousands) 218,582 218,582 218,582 218,582 603,198 603,198 - -
Announcement Date 27/09/21 26/09/22 24/09/23 30/09/24 28/09/25 - - -
1NZD in Million2NZD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-3.66x0.23x9.08x-.--% 148M
14.97x1.52x10.44x4.93% 24.13B
38.02x0.89x8.36x3.39% 8.4B
11.98x1.76x6.9x4.17% 7.02B
38.47x3.33x22.28x2.54% 5.85B
18.45x1.07x10.3x2.2% 5.62B
13.84x1.76x8.48x6.96% 4.98B
16.88x1.34x10.42x2.41% 4.94B
45.13x3.57x22.53x2.02% 4.76B
Average 21.56x 1.72x 12.09x 3.18% 7.32B
Weighted average by Cap. 22.17x 1.74x 11.56x 3.95%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Synlait Milk Limited