Company Valuation: Tivan Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026
Market Cap 1 74.97 69.42 110.1 120.2 190.2 674.8
Change - -7.4% 58.66% 9.09% 58.33% 254.73%
Enterprise Value (EV) 1 63.19 54.89 109.1 123.3 184.5 655.2
Change - -13.13% 98.67% 13.1% 49.54% 255.19%
P/E -24.7x -13.5x -14.2x -1.71x -35.3x -46x
PBR 1.18x 0.98x 1.53x 8.69x 4.9x 11.7x
PEG - -0.3x -0.3x -0x 0.4x -0x
Capitalization / Revenue 407x - 1,469x 9,243x 2,757x 5,442x
EV / Revenue 343x - 1,454x 9,488x 2,673x 5,284x
EV / EBITDA -21.8x -12.6x -15.2x -1.96x -25.7x -45.7x
EV / EBIT -21.6x -11.1x -15.1x -1.96x -25.5x -45.1x
EV / FCF -4.72x -5.13x -18.9x -2.82x -7.49x -24.8x
FCF Yield -21.2% -19.5% -5.28% -35.5% -13.3% -4.04%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.002433 -0.0037 -0.005218 -0.0426 -0.002603 -0.006416
Distribution rate - - - - - -
Net sales 1 0.184 - 0.075 0.013 0.069 0.124
EBITDA 1 -2.898 -4.35 -7.187 -62.96 -7.182 -14.33
EBIT 1 -2.925 -4.94 -7.233 -63.03 -7.24 -14.54
Net income 1 -2.905 -4.895 -7.082 -67.84 -4.907 -14.24
Net Debt 1 -11.78 -14.53 -1.086 3.191 -5.789 -19.67
Reference price 2 0.0600 0.0500 0.0740 0.0730 0.0920 0.2950
Nbr of stocks (in thousands) 1,249,497 1,388,418 1,488,418 1,645,949 2,067,820 2,287,553
Announcement Date 17/09/21 29/09/22 25/09/23 30/09/24 25/09/25 27/09/26
1AUD in Million2AUD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 319M
16.77x3.95x7.17x3.52% 219B
11.29x2.78x6.08x5.2% 162B
15.38x4.43x7.3x3.09% 102B
11.91x0.38x6.08x3.39% 88.34B
26.48x6.5x16.95x-.--% 65.66B
60.46x3.25x7.95x2.22% 59.22B
16.25x3.3x6.44x0.56% 33.33B
12.34x3.92x6.04x5.05% 26.71B
12.57x4.53x7.95x3.95% 24.64B
Average 20.38x 3.67x 8.00x 3% 78.14B
Weighted average by Cap. 18.73x 3.52x 7.68x 3.34%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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