Financials LT Group, Inc.

Equities

End-of-day quote Philippines S.E. Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
10.48 ^PHP	+2.75%		+2.54%	+16.70%

May. 20	LT Group, Inc. Declares Special Cash Dividend, Payable on June 14, 2024	CI
May. 16	LT Group's Q1 Profit Rises 1%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	129,582	141,696	107,083	99,512	97,132	113,357	-
Enterprise Value (EV) ¹	22,388	-67,188	-82,411	-157,416	-92,312	-81,347	-100,734
P/E ratio	5.6 x	6.75 x	5.29 x	3.97 x	3.82 x	3.48 x	3.12 x
Yield	3.59%	6.18%	10.9%	-	13.4%	9.73%	8.97%
Capitalization / Revenue	1.37 x	1.5 x	1.17 x	0.99 x	0.84 x	0.98 x	0.91 x
EV / Revenue	0.24 x	-0.71 x	-0.9 x	-1.56 x	-0.8 x	-0.7 x	-0.81 x
EV / EBITDA	1.32 x	-9.21 x	-7.03 x	-9.78 x	-3.44 x	-4.43 x	-4.32 x
EV / FCF	0.49 x	-0.73 x	-7.06 x	-14.8 x	-1.83 x	-2.29 x	-0.61 x
FCF Yield	206%	-138%	-14.2%	-6.74%	-54.6%	-43.6%	-164%
Price to Book	0.69 x	0.76 x	0.56 x	0.5 x	0.46 x	0.44 x	0.4 x
Nbr of stocks (in thousands)	10,816,489	10,816,489	10,816,489	10,816,489	10,816,489	10,816,489	-
Reference price ²	11.98	13.10	9.900	9.200	8.980	10.48	10.48
Announcement Date	3/20/20	3/25/21	3/21/22	3/17/23	3/18/24	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	94,244	94,428	91,173	100,872	115,299	115,596	124,798
EBITDA ¹	16,945	7,299	11,730	16,088	26,854	18,356	23,304
EBIT ¹	11,709	1,621	5,989	9,689	20,358	14,171	18,754
Operating Margin	12.42%	1.72%	6.57%	9.61%	17.66%	12.26%	15.03%
Earnings before Tax (EBT) ¹	31,263	21,587	27,262	36,604	39,234	45,933	47,661
Net income ¹	23,118	21,022	20,246	25,137	25,421	32,608	36,321
Net margin	24.53%	22.26%	22.21%	24.92%	22.05%	28.21%	29.1%
EPS ²	2.140	1.940	1.870	2.320	2.350	3.013	3.356
Free Cash Flow ¹	46,039	92,601	11,673	10,608	50,382	35,503	165,531
FCF margin	48.85%	98.07%	12.8%	10.52%	43.7%	30.71%	132.64%
FCF Conversion (EBITDA)	271.7%	1,268.77%	99.51%	65.94%	187.62%	193.41%	710.3%
FCF Conversion (Net income)	199.15%	440.5%	57.66%	42.2%	198.19%	108.88%	455.74%
Dividend per Share ²	0.4300	0.8100	1.080	-	1.200	1.020	0.9404
Announcement Date	3/20/20	3/25/21	3/21/22	3/17/23	3/18/24	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-
Net Cash position ¹	107,194	208,884	189,494	256,928	189,444	194,704	214,091
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	46,039	92,601	11,673	10,608	50,382	35,503	165,531
ROE (net income / shareholders' equity)	12.8%	11.3%	8%	12.9%	12.4%	14%	15.7%
ROA (Net income/ Total Assets)	1.96%	1.61%	2%	1.95%	1.96%	0.65%	0.66%
Assets ¹	1,181,817	1,309,455	1,012,323	1,289,957	1,297,741	5,010,849	5,533,384
Book Value Per Share ²	17.30	17.10	17.60	18.40	19.60	23.60	26.40
Cash Flow per Share ²	4.930	9.010	1.740	1.120	5.060	3.980	4.640
Capex ¹	10,542	4,880	7,136	1,549	4,393	15,899	-
Capex / Sales	11.19%	5.17%	7.83%	1.54%	3.81%	13.75%	-
Announcement Date	3/20/20	3/25/21	3/21/22	3/17/23	3/18/24	-	-

¹PHP in Million²PHP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

10.48 PHP

Average target price

9.668 PHP

Spread / Average Target

-7.74%

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