Company Valuation: New Zealand Rural Land Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 111.4 124.8 117.1 131.5 159.3 134.8 - -
Change - 12.04% -6.24% 12.35% 21.12% -15.39% - -
Enterprise Value (EV) 1 111.4 224.6 117.1 259.5 288.6 268.2 266.2 266.3
Change - 101.56% -47.89% 121.73% 11.19% -7.09% -0.71% 0.01%
P/E 3.1x - 0.1x - - - - -
PBR - - - 0.57x 0.68x 0.59x 0.58x 0.59x
PEG - - - - - - - -
Capitalization / Revenue - 15.2x - 6.62x 7.15x 5.69x 5.15x 5.19x
EV / Revenue - 27.3x - 13.1x 13x 11.3x 10.2x 10.3x
EV / EBITDA - 84x - 16.1x 16.5x 13.7x 12.3x 12.5x
EV / EBIT - 85.4x - 16.1x 16.5x 13.7x 12.3x 12.5x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - 0.0358 0.02 0.04 0.0491 0.045 0.05 0.055
Rate of return - 3.31% 2.38% 4.35% 4.5% 4.89% 5.43% 5.98%
EPS 2 0.3713 - 8.06 - - - - -
Distribution rate - - 0.25% - - - - -
Net sales 1 - 8.215 - 19.87 22.28 23.68 26.19 25.95
EBITDA 1 - 2.675 - 16.13 17.45 19.58 21.66 21.37
EBIT 1 - 2.629 - 16.13 17.45 19.58 21.66 21.37
Net income 1 15.12 39.68 10.85 23.08 7.856 2.684 11.79 10.03
Net Debt 1 - 99.76 - 128 129.3 133.4 131.5 131.5
Reference price 2 1.1500 1.0800 0.8400 0.9200 1.0900 0.9200 0.9200 0.9200
Nbr of stocks (in thousands) 96,900 115,602 139,352 142,954 146,139 146,497 - -
Announcement Date 8/30/21 A 8/25/22 A 2/29/24 A 2/27/25 A 2/26/26 A - - -
1NZD in Million2NZD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- 11.33x13.7x4.89% 75.88M
62.18x - - - 66.41B
14x4.54x12.22x3.62% 39.85B
5.74x0.78x1.6x8.58% 28.06B
8.28x1.46x8.04x4.27% 27.68B
17.51x3.91x15.72x1.4% 27.05B
13.43x3.04x14.56x2.6% 24.8B
9.36x3.54x7.84x-.--% 22.08B
8.3x0.92x3.35x2.69% 21.22B
10.35x2.03x8.38x4.06% 20.81B
Average 16.57x 3.51x 9.49x 3.57% 27.8B
Weighted average by Cap. 23.32x 2.67x 9.26x 3.53%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation New Zealand Rural Land Company Limited