An Intrinsic Calculation For Allterco AD (BUL:A4L) Suggests It's 27% Undervalued
May 20
Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedJun 06, 2023
DataAggregated Company Financials
Companies185
- 7D1.2%
- 3M2.8%
- 1Y2.4%
- YTD3.9%
The market is up 1.2% over the last week, with the Financials sector leading the way, up 2.7%. In contrast, the Energy sector is lagging, dropping 12%. The market has been flat overall in the last year. Earnings are forecast to grow by 13% annually.
Market Valuation and Performance
Has the Bulgarian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 06 Jun 2023 | лв14.4b | лв20.6b | лв1.1b | 13.2x | 13.5x | 0.7x |
| Thu, 04 May 2023 | лв13.8b | лв20.3b | лв1.1b | 12.8x | 12.5x | 0.7x |
| Sat, 01 Apr 2023 | лв13.7b | лв20.3b | лв1.0b | 13.4x | 13.4x | 0.7x |
| Mon, 27 Feb 2023 | лв13.8b | лв20.3b | лв1.2b | 14.1x | 11.4x | 0.7x |
| Wed, 25 Jan 2023 | лв13.7b | лв20.2b | лв1.1b | 13.4x | 12.5x | 0.7x |
| Fri, 23 Dec 2022 | лв13.5b | лв20.2b | лв1.2b | 11.9x | 11.7x | 0.7x |
| Sun, 20 Nov 2022 | лв12.9b | лв18.6b | лв1.0b | 12.3x | 12.7x | 0.7x |
| Tue, 18 Oct 2022 | лв12.8b | лв18.5b | лв1.1b | 12.7x | 12x | 0.7x |
| Thu, 15 Sep 2022 | лв13.4b | лв18.3b | лв1.1b | 13.3x | 12.6x | 0.7x |
| Sat, 13 Aug 2022 | лв13.5b | лв16.9b | лв979.2m | 14.1x | 13.7x | 0.8x |
| Mon, 11 Jul 2022 | лв13.4b | лв16.9b | лв984.7m | 14.2x | 13.7x | 0.8x |
| Wed, 08 Jun 2022 | лв29.8b | лв17.0b | лв986.6m | 14.5x | 30.2x | 1.8x |
| Fri, 06 May 2022 | лв29.6b | лв15.7b | лв825.4m | 14.5x | 35.8x | 1.9x |
| Sun, 03 Apr 2022 | лв29.6b | лв15.1b | лв863.3m | 14.2x | 34.2x | 2x |
| Tue, 01 Mar 2022 | лв28.9b | лв13.3b | лв641.0m | 16.7x | 45x | 2.2x |
| Thu, 27 Jan 2022 | лв29.3b | лв12.9b | лв577.8m | 16.3x | 50.8x | 2.3x |
| Sat, 25 Dec 2021 | лв29.4b | лв12.9b | лв585.9m | 17.1x | 50.3x | 2.3x |
| Mon, 22 Nov 2021 | лв29.4b | лв12.0b | лв490.1m | 17.2x | 60x | 2.4x |
| Wed, 20 Oct 2021 | лв29.0b | лв11.8b | лв484.8m | 17.9x | 59.9x | 2.5x |
| Fri, 17 Sep 2021 | лв28.5b | лв11.8b | лв473.5m | 17.3x | 60.2x | 2.4x |
| Sun, 15 Aug 2021 | лв28.5b | лв11.8b | лв483.2m | 16.2x | 58.9x | 2.4x |
| Thu, 10 Jun 2021 | лв27.8b | лв11.3b | лв452.7m | 18.4x | 61.3x | 2.5x |
| Wed, 03 Mar 2021 | лв28.3b | лв11.1b | лв397.5m | 17.2x | 71.1x | 2.6x |
| Sat, 05 Dec 2020 | лв26.9b | лв11.2b | лв700.3m | 16.8x | 38.5x | 2.4x |
| Tue, 08 Sep 2020 | лв26.5b | лв11.2b | лв730.3m | 14.2x | 36.3x | 2.4x |
Price to Earnings Ratio
36.2x
Current Market PE
- Investors are pessimistic on the Bulgarian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 13.5x which is lower than its 3-year average PE of 37.9x.
Past Earnings Growth
- The earnings for Bulgarian listed companies have grown 14% per year over the last three years.
- Revenues for these companies have grown 22% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Bulgarian Market?
| BG Market | 1.18% | |
| Tech | 3.57% | |
| Financials | 2.65% | |
| Materials | 2.01% | |
| Healthcare | 1.78% | |
| Industrials | 0.75% | |
| Consumer Staples | 0.56% | |
| Consumer Discretionary | 0.56% | |
| Real Estate | 0.14% | |
| Utilities | 0% | |
| Telecom | -0.23% | |
| Energy | -12.00% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth even though it's trading below its 3-year average PE ratio of 65.0x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 29% over the next 5 years.
- This is better than its past earnings growth rate of 16% per year.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| SFA Sopharma AD | лв6.18 | 5.8% +лв41.2m | 37.9% | PE8.9x | Healthcare | |
| EUBG Eurohold Bulgaria AD | лв1.85 | 5.7% +лв26.0m | -14.4% | PE9.4x | Financials | |
| A4L Allterco AD | лв28.00 | 4.9% +лв23.3m | 54.7% | PE25.7x | Tech | |
| SPH Stara Planina Hold | лв10.00 | 9.9% +лв18.7m | -4.8% | PE11.7x | Industrials | |
| IHB Industrial Holding Bulgaria AD | лв1.87 | 10.0% +лв16.5m | -20.1% | PE6.4x | Industrials |
Market Insights
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