Company Valuation: Magic Software Enterprises Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 478.5 767.3 1,027 786.6 475.7 590.7
Change - 60.34% 33.86% -23.41% -39.52% 24.16%
Enterprise Value (EV) 1 420.6 727 994.4 779.7 477.7 556.4
Change - 72.86% 36.77% -21.59% -38.73% 16.47%
P/E 37.6x 32.1x 40.6x 19.5x 12.9x 16x
PBR 1.93x 2.95x 3.87x 2.99x 1.79x 2.13x
PEG - 0.4x 6.81x 0.3x -1.51x -
Capitalization / Revenue 1.47x 2.07x 2.14x 1.39x 0.89x 1.07x
EV / Revenue 1.29x 1.96x 2.07x 1.38x 0.89x 1.01x
EV / EBITDA 8.82x 13.1x 14.5x 10.8x 6.9x 7.7x
EV / EBIT 12.5x 17.4x 18.5x 12.8x 8.33x 9.21x
EV / FCF 14.5x 20.3x 31.3x 12.6x 11.5x 7.41x
FCF Yield 6.91% 4.92% 3.2% 7.95% 8.68% 13.5%
Dividend per Share 2 0.236 0.385 0.45 0.59 0.531 0.563
Rate of return 2.41% 2.46% 2.15% 3.68% 5.48% 4.68%
EPS 2 0.26 0.4868 0.5159 0.82 0.75 0.75
Distribution rate 90.8% 79.1% 87.2% 72% 70.8% 75.1%
Net sales 1 325.6 371.2 480.3 566.8 535.1 552.5
EBITDA 1 47.68 55.62 68.59 72.51 69.2 72.26
EBIT 1 33.65 41.68 53.74 60.86 57.35 60.41
Net income 1 20.27 25.19 29.33 40.47 37.03 36.88
Net Debt 1 -57.94 -40.25 -32.72 -6.926 2.021 -34.25
Reference price 2 9.78 15.65 20.93 16.02 9.69 12.03
Nbr of stocks (in thousands) 48,928 49,027 49,073 49,093 49,093 49,099
Announcement Date 5/14/20 A 5/13/21 A 5/12/22 A 5/11/23 A 5/13/24 A 5/15/25 A
1USD in Million2USD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 853M
22.42x8.6x14.24x0.95% 2,890B
97.31x39.35x65.61x-.--% 315B
111.95x35.72x112.98x0.16% 115B
454.94x19.54x78.57x-.--% 89.65B
144.14x8.47x21.61x-.--% 74.48B
34.74x1.82x14.25x-.--% 63.94B
118.88x5.17x25.34x-.--% 45.29B
-32.51x4.26x20.4x-.--% 34.67B
20.48x3.85x10.64x1.38% 30.74B
Average 108.04x 14.09x 40.40x 0.28% 366.05B
Weighted average by Cap. 45.64x 12.13x 23.66x 0.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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