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FPC

Far Property BSM:FPC Stock Report

Last Price

P2.40

Market Cap

P1.1b

7D

0%

1Y

-2.0%

Updated

24 Sep, 2022

Data

Company Financials
FPC fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health4/6
Dividends3/6

FPC Stock Overview

The Far Property Company Limited engages in the real estate development, property rental, and asset management businesses.

Far Property Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Far Property
Historical stock prices
Current Share PriceP2.40
52 Week HighP0
52 Week LowP0
Beta0.016
1 Month Change0%
3 Month Change0%
1 Year Change-2.04%
3 Year Change-2.44%
5 Year Change-4.00%
Change since IPO-7.34%

Recent News & Updates

Shareholder Returns

FPCBW Real EstateBW Market
7D0%0%-0.02%
1Y-2.0%2.0%8.2%

Return vs Industry: FPC underperformed the BW Real Estate industry which returned 2% over the past year.

Return vs Market: FPC underperformed the BW Market which returned 8.2% over the past year.

Price Volatility

Is FPC's price volatile compared to industry and market?
FPC volatility
FPC Average Weekly Movement0%
Real Estate Industry Average Movement0.8%
Market Average Movement0.8%
10% most volatile stocks in BW Market2.6%
10% least volatile stocks in BW Market0.2%

Stable Share Price: FPC is less volatile than 75% of BW stocks over the past 3 months, typically moving +/- 0% a week.

Volatility Over Time: FPC's weekly volatility (0%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
201011Shinu Joyhttps://www.farproperties.co.bw

The Far Property Company Limited engages in the real estate development, property rental, and asset management businesses. It operates through Residential Properties, Commercial Properties, Industrial Properties, and Other segments. The company owns approximately 173 properties in Botswana, South Africa, and Zambia, which cover primarily warehouses and shopping centers; and offers retail, residential, commercial, and industrial properties for rent.

Far Property Fundamentals Summary

How do Far Property's earnings and revenue compare to its market cap?
FPC fundamental statistics
Market CapP1.10b
Earnings (TTM)P116.47m
Revenue (TTM)P162.61m

9.5x

P/E Ratio

6.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FPC income statement (TTM)
RevenueP162.61m
Cost of RevenueP37.55m
Gross ProfitP125.06m
Other ExpensesP8.59m
EarningsP116.47m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Sep 30, 2022

Earnings per share (EPS)0.25
Gross Margin76.91%
Net Profit Margin71.62%
Debt/Equity Ratio30.2%

How did FPC perform over the long term?

See historical performance and comparison

Dividends

7.7%

Current Dividend Yield

72%

Payout Ratio

Does FPC pay a reliable dividends?

See FPC dividend history and benchmarks
When do you need to buy FPC by to receive an upcoming dividend?
Far Property dividend dates
Ex Dividend DateNov 02 2022
Dividend Pay DateNov 11 2022
Days until Ex dividend38 days
Days until Dividend pay date47 days

Does FPC pay a reliable dividends?

See FPC dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is FPC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FPC?

Other financial metrics that can be useful for relative valuation.

FPC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.5x
Enterprise Value/EBITDA11.1x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does FPC's PE Ratio compare to its peers?

FPC PE Ratio vs Peers
The above table shows the PE ratio for FPC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average8.9x
TURNSTAR Turnstar Holdings
10.2xn/aP1.0b
LETLOLE Letlole La Rona
10.6xn/aP862.4m
RDCP RDC Properties
2.4xn/aP1.7b
NAP New African Properties
12.3xn/aP2.1b
FPC Far Property
9.5xn/aP1.1b

Price-To-Earnings vs Peers: FPC is expensive based on its Price-To-Earnings Ratio (9.5x) compared to the peer average (8.9x).


Price to Earnings Ratio vs Industry

How does FPC's PE Ratio compare vs other companies in the African Real Estate Industry?

Price-To-Earnings vs Industry: FPC is good value based on its Price-To-Earnings Ratio (9.5x) compared to the African Real Estate industry average (10.9x)


Price to Earnings Ratio vs Fair Ratio

What is FPC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FPC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FPC's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of FPC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FPC (BWP2.4) is trading below our estimate of fair value (BWP3.93)

Significantly Below Fair Value: FPC is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Far Property forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


21.3%

Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Far Property has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine whether Far Property is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Far Property performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


13.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FPC has high quality earnings.

Growing Profit Margin: FPC's current net profit margins (71.6%) are higher than last year (61.6%).


Past Earnings Growth Analysis

Earnings Trend: FPC's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: FPC's earnings growth over the past year (19%) exceeds its 5-year average (13.5% per year).

Earnings vs Industry: FPC earnings growth over the past year (19%) underperformed the Real Estate industry 24.1%.


Return on Equity

High ROE: FPC's Return on Equity (11.2%) is considered low.


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Financial Health

How is Far Property's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FPC's short term assets (BWP58.9M) do not cover its short term liabilities (BWP167.7M).

Long Term Liabilities: FPC's short term assets (BWP58.9M) do not cover its long term liabilities (BWP310.3M).


Debt to Equity History and Analysis

Debt Level: FPC's net debt to equity ratio (27.1%) is considered satisfactory.

Reducing Debt: FPC's debt to equity ratio has reduced from 65.9% to 30.2% over the past 5 years.

Debt Coverage: FPC's debt is well covered by operating cash flow (39%).

Interest Coverage: FPC's interest payments on its debt are well covered by EBIT (5.5x coverage).


Balance Sheet


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Dividend

What is Far Property current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


7.67%

Current Dividend Yield

Upcoming Dividend Payment

TodaySep 24 2022Ex Dividend DateNov 02 2022Dividend Pay DateNov 11 20229 days from Ex DividendBuy in the next 38 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: FPC's dividend (7.67%) is higher than the bottom 25% of dividend payers in the BW market (5.83%).

High Dividend: FPC's dividend (7.67%) is low compared to the top 25% of dividend payers in the BW market (9.52%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FPC has been paying a dividend for less than 10 years.

Growing Dividend: FPC's dividend payments have increased, but the company has only paid a dividend for 6 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (71.9%), FPC's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (69%), FPC's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average board tenure


CEO

Shinu Joy

no data

Tenure

P735,346

Compensation

Mr. Shinu Joy, ACA, ACMA-(US), serves as Head of Finance and Operations at The Far Property Company Limited and serves as its Acting CEO. Mr. Joy has been involved in operations and finance in India, Middl...


CEO Compensation Analysis

Compensation vs Market: Shinu's total compensation ($USD55.89K) is below average for companies of similar size in the BW market ($USD83.99K).

Compensation vs Earnings: Insufficient data to compare Shinu's compensation with company performance.


Board Members

Experienced Board: FPC's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.8%.


Top Shareholders

Top 11 shareholders own 98.6% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
27.9%
Farouk Ismail
128,430,515BWP308.2m0%no data
26.99%
Ramachandran Ottapathu
124,232,030BWP298.2m0%no data
22.6%
Platinum Compass (Pty) Ltd
104,045,430BWP249.7m0%no data
15.27%
Botswana Public Officers Pension Fund
70,271,895BWP168.7m0%2.25%
2.8%
Allan Gray Limited
12,895,287BWP30.9m0%0.02%
1.8%
Debswana Diamond Company, ESOP
8,277,949BWP19.9m0%2.02%
0.46%
Burs, Employee Pension Fund
2,114,008BWP5.1m0%11.65%
0.35%
Kgori Capital Proprietary Limited
1,608,218BWP3.9m0%26.26%
0.25%
FGM Holdings Proprietary Limited
1,143,740BWP2.7m0%no data
0.12%
Alexander Forbes Retirement Fund
573,869BWP1.4m0%6.77%
0.066%
Vidya Sanooj
303,542BWP728.5k0%no data

Company Information

The Far Property Company Limited's employee growth, exchange listings and data sources


Key Information

  • Name: The Far Property Company Limited
  • Ticker: FPC
  • Exchange: BSM
  • Founded: 2010
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Implied Market Cap: P1.105b
  • Shares outstanding: 460.34m
  • Website: https://www.farproperties.co.bw

Number of Employees


Location

  • The Far Property Company Limited
  • Gaborone International Commerce Park
  • Plot 880, Unit No:3
  • Gaborone
  • Botswana


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FPCBSM (Botswana Share Market)YesOrdinary SharesBWBWPMay 2016

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.