Financials Waves Corporation Limited

Equities

WAVES

PK0030801010

Appliances, Tools & Housewares

End-of-day quote Pakistan S.E. 23:00:00 25/06/2024 BST 5-day change 1st Jan Change
7.07 PKR -1.39% Intraday chart for Waves Corporation Limited -5.73% -10.62%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,997 4,621 5,289 4,387 2,429 2,226
Enterprise Value (EV) 1 7,966 10,868 12,310 11,757 8,799 8,456
P/E ratio 10.5 x 12.2 x 41.5 x 13.8 x 6.91 x 9.82 x
Yield 5.1% - - - - -
Capitalization / Revenue 0.47 x 0.49 x 0.62 x 0.42 x 0.24 x 0.43 x
EV / Revenue 0.94 x 1.15 x 1.44 x 1.13 x 0.89 x 1.62 x
EV / EBITDA 7.76 x 7.7 x 17.4 x 12.4 x 12.2 x 9.31 x
EV / FCF -7.71 x -9.31 x -9.63 x -5.63 x 12.6 x 17.6 x
FCF Yield -13% -10.7% -10.4% -17.8% 7.95% 5.69%
Price to Book 0.48 x 0.55 x 0.62 x 0.5 x 0.27 x 0.23 x
Nbr of stocks (in thousands) 187,604 187,604 187,604 281,406 281,406 281,406
Reference price 2 21.30 24.63 28.19 15.59 8.630 7.910
Announcement Date 09/04/19 25/06/20 02/04/21 18/08/22 09/05/23 18/04/24
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 8,516 9,484 8,525 10,439 9,939 5,206
EBITDA 1 1,026 1,412 708.7 944.8 723.8 908
EBIT 1 802.8 1,175 420.2 638.6 406.4 554.3
Operating Margin 9.43% 12.39% 4.93% 6.12% 4.09% 10.65%
Earnings before Tax (EBT) 1 510.5 621.6 269.2 515.1 387.6 300.9
Net income 1 382.1 378.3 127.5 318.6 351.4 226.7
Net margin 4.49% 3.99% 1.5% 3.05% 3.54% 4.35%
EPS 2 2.037 2.016 0.6795 1.132 1.249 0.8056
Free Cash Flow 1 -1,033 -1,168 -1,278 -2,088 699.3 481.4
FCF margin -12.13% -12.31% -14.99% -20% 7.04% 9.25%
FCF Conversion (EBITDA) - - - - 96.62% 53.02%
FCF Conversion (Net income) - - - - 199.02% 212.37%
Dividend per Share 2 1.087 - - - - -
Announcement Date 09/04/19 25/06/20 02/04/21 18/08/22 09/05/23 18/04/24
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,969 6,248 7,021 7,370 6,371 6,230
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.867 x 4.424 x 9.907 x 7.801 x 8.802 x 6.861 x
Free Cash Flow 1 -1,033 -1,168 -1,278 -2,088 699 481
ROE (net income / shareholders' equity) 4.62% 4.52% 1.52% 3.5% 3.5% 2.33%
ROA (Net income/ Total Assets) 3.59% 4.61% 1.5% 2.06% 1.21% 1.58%
Assets 1 10,629 8,214 8,505 15,436 29,081 14,375
Book Value Per Share 2 44.70 44.50 45.30 31.00 32.20 34.20
Cash Flow per Share 2 0.5600 0.8700 0.7700 0.5400 0.4100 0.2100
Capex 1 521 471 379 816 2,922 1,898
Capex / Sales 6.12% 4.97% 4.44% 7.82% 29.4% 36.46%
Announcement Date 09/04/19 25/06/20 02/04/21 18/08/22 09/05/23 18/04/24
1PKR in Million2PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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