Financials The Searle Company Limited

Equities

SEARL

PK0061701014

Pharmaceuticals

End-of-day quote Pakistan S.E. 23:00:00 08/05/2024 BST 5-day change 1st Jan Change
60.4 PKR +7.49% Intraday chart for The Searle Company Limited +16.02% +17.33%

Valuation

Fiscal Period: Junio 2018 2019 2020 2021 2022 2024 2025
Capitalization 1 62,712 31,133 42,321 58,239 34,020 23,560 -
Enterprise Value (EV) 1 62,712 34,798 47,260 73,774 53,039 46,534 45,772
P/E ratio 23.3 x 13.9 x 16.9 x 15.4 x 14.5 x 23.4 x 10.8 x
Yield 1.47% 1.71% 1.25% 0.82% - - -
Capitalization / Revenue 3.82 x 1.72 x 2.07 x 2.22 x 1.14 x 0.53 x 0.46 x
EV / Revenue 3.82 x 1.93 x 2.31 x 2.81 x 1.77 x 1.06 x 0.9 x
EV / EBITDA 16.9 x 9.72 x 10.6 x 10.5 x 8.51 x 5.82 x 4.36 x
EV / FCF - -75.1 x -65.6 x 157 x - -5.86 x 55.5 x
FCF Yield - -1.33% -1.53% 0.64% - -17.1% 1.8%
Price to Book - 2.38 x 2.73 x 2.28 x 1.19 x 0.81 x 0.81 x
Nbr of stocks (in thousands) 345,191 345,191 345,191 390,066 390,066 390,066 -
Reference price 2 181.7 90.19 122.6 149.3 87.22 60.64 60.64
Announcement Date 12/10/18 01/10/19 29/09/20 04/10/21 03/10/22 - -
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Junio 2018 2019 2020 2021 2022 2024 2025
Net sales 1 16,396 18,062 20,475 26,220 29,910 44,082 50,945
EBITDA 1 3,714 3,579 4,466 7,017 6,236 7,996 10,498
EBIT 1 - 3,212 4,100 6,487 5,778 7,490 9,942
Operating Margin - 17.78% 20.02% 24.74% 19.32% 16.99% 19.52%
Earnings before Tax (EBT) 1 - 2,832 3,659 5,035 3,661 2,181 4,939
Net income 1 - 2,241 2,500 3,679 2,352 1,219 2,884
Net margin - 12.41% 12.21% 14.03% 7.86% 2.77% 5.66%
EPS 2 7.786 6.492 7.243 9.723 6.032 2.590 5.640
Free Cash Flow 1 - -463.4 -720.8 471.2 - -7,945 825
FCF margin - -2.57% -3.52% 1.8% - -18.02% 1.62%
FCF Conversion (EBITDA) - - - 6.72% - - 7.86%
FCF Conversion (Net income) - - - 12.81% - - 28.61%
Dividend per Share 2 2.676 1.538 1.538 1.231 - - -
Announcement Date 12/10/18 01/10/19 29/09/20 04/10/21 03/10/22 - -
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2018 2019 2020 2021 2022 2024 2025
Net Debt 1 - 3,665 4,939 15,535 19,019 22,974 22,212
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - 1.024 x 1.106 x 2.214 x 3.05 x 2.873 x 2.116 x
Free Cash Flow 1 - -463 -721 471 - -7,945 825
ROE (net income / shareholders' equity) 26.4% 18.6% 17.5% 17.9% 8.67% 3.7% 7.8%
ROA (Net income/ Total Assets) - - 10.8% - - - -
Assets 1 - - 23,190 - - - -
Book Value Per Share 2 - 37.90 44.90 65.60 73.50 75.20 74.90
Cash Flow per Share - - - - - - -
Capex 1 530 462 347 1,428 818 204 253
Capex / Sales 3.24% 2.56% 1.69% 5.45% 2.74% 0.46% 0.5%
Announcement Date 12/10/18 01/10/19 29/09/20 04/10/21 03/10/22 - -
1PKR in Million2PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
1
Last Close Price
60.64 PKR
Average target price
65 PKR
Spread / Average Target
+7.19%
Consensus

Annual profits - Rate of surprise

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