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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 6.6x - 7.3x | 6.9x |
Selected Fwd P/E Multiple | 9.7x - 10.7x | 10.2x |
Fair Value | CLP 1,515 - CLP 1,674 | CLP 1,594 |
Upside | -0.1% - 10.4% | 5.1% |
Benchmarks | - | Full Ticker |
Sappi Limited | - | JSE:SAP |
Mercer International Inc. | - | NasdaqGS:MERC |
Clearwater Paper Corporation | - | NYSE:CLW |
Svenska Cellulosa Aktiebolaget SCA (publ) | - | OTCPK:SVCB.F |
Suzano S.A. | - | BOVESPA:SUZB3 |
Empresas CMPC S.A. | - | SNSE:CMPC |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
SAP | MERC | CLW | SVCB.F | SUZB3 | CMPC | |||
JSE:SAP | NasdaqGS:MERC | NYSE:CLW | OTCPK:SVCB.F | BOVESPA:SUZB3 | SNSE:CMPC | |||
Historical Net Income Growth | ||||||||
5Y CAGR | -31.0% | NM- | NM- | -25.2% | NM- | 42.2% | ||
3Y CAGR | 36.4% | NM- | NM- | -15.1% | NM- | -3.0% | ||
Latest Twelve Months | 501.8% | 64.8% | -252.0% | -1.0% | -150.2% | 4.4% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 1.9% | 0.0% | 3.1% | 28.3% | 11.3% | 6.3% | ||
Prior Fiscal Year | 4.5% | -12.1% | 4.3% | 18.0% | 35.4% | 5.8% | ||
Latest Fiscal Year | 0.6% | -4.2% | -5.3% | 16.2% | -14.9% | 6.3% | ||
Latest Twelve Months | 4.1% | -4.2% | -5.3% | 16.2% | -14.9% | 6.3% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 3.3x | 6.7x | 10.6x | 19.3x | 6.4x | 6.5x | ||
Price / LTM Sales | 0.2x | 0.2x | 0.3x | 4.0x | 1.4x | 0.5x | ||
LTM P/E Ratio | 5.1x | -3.9x | -5.4x | 24.7x | -9.1x | 8.0x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | -9.1x | -3.9x | 24.7x | |||||
Historical LTM P/E Ratio | -50.3x | 7.4x | 8.0x | |||||
Selected P/E Multiple | 6.6x | 6.9x | 7.3x | |||||
(x) LTM Net Income | 491 | 491 | 491 | |||||
(=) Equity Value | 3,239 | 3,409 | 3,580 | |||||
(/) Shares Outstanding | 2,500.0 | 2,500.0 | 2,500.0 | |||||
Implied Value Range | 1.30 | 1.36 | 1.43 | |||||
FX Rate: USD/CLP | 0.0 | 0.0 | 0.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 1,253.07 | 1,319.02 | 1,384.97 | 1,516.50 | ||||
Upside / (Downside) | -17.4% | -13.0% | -8.7% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | SAP | MERC | CLW | SVCB.F | SUZB3 | CMPC | |
Value of Common Equity | 1,157 | 332 | 400 | 91,815 | 64,242 | 3,920 | |
(/) Shares Outstanding | 604.6 | 66.8 | 16.2 | 702.3 | 1,239.2 | 2,500.0 | |
Implied Stock Price | 1.91 | 4.96 | 24.67 | 130.73 | 51.84 | 1.57 | |
FX Conversion Rate to Trading Currency | 0.05 | 1.00 | 1.00 | 9.63 | 1.00 | 0.00 | |
Implied Stock Price (Trading Cur) | 36.05 | 4.96 | 24.67 | 13.58 | 51.84 | 1,516.50 | |
Trading Currency | ZAR | USD | USD | USD | BRL | CLP | |
FX Rate to Reporting Currency | 0.05 | 1.00 | 1.00 | 9.63 | 1.00 | 0.00 |