Pesquera ExalmarA (BVL:EXALMC1) - Share price, News & Analysis

Q: What is the Fair Price of EXALMC1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

EXALMC1 (PEN2.62) is trading below our estimate of [[fair value]] (PEN8.62)

EXALMC1 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	2/6
Financial Health	3/6
Dividends	3/6

EXALMC1 Stock Overview

Pesquera Exalmar S.A.A. operates in the fishery sector in Asia, Europe, the United States, Oceania, and Africa.

Rewards

Trading at 69.6% below our estimate of its fair value

Risk Analysis

Debt is not well covered by operating cash flow

Unstable dividend track record

Pesquera ExalmarA Competitors

Casa GrandeA

BVL:CASAGRC1

S/749.7m

Austral GroupA

BVL:AUSTRAC1

S/321.2m

Agroindustrias San JacintoA

BVL:SNJACIC1

S/199.2m

Leche Gloria

BVL:GLORIAI1

S/3.4b

Price History & Performance

Summary of all time highs, changes and price drops for Pesquera ExalmarA
Historical stock prices
Current Share Price	S/2.62
52 Week High	S/2.70
52 Week Low	S/1.10
Beta	-0.55
1 Month Change	5.65%
3 Month Change	9.17%
1 Year Change	101.54%
3 Year Change	63.75%
5 Year Change	149.52%
Change since IPO	-47.07%

Shareholder Returns

	EXALMC1	PE Food	PE Market
7D	0%	4.3%	2.4%
1Y	101.5%	34.6%	24.4%

Return vs Industry: EXALMC1 exceeded the PE Food industry which returned 34.6% over the past year.

Return vs Market: EXALMC1 exceeded the PE Market which returned 24.4% over the past year.

Price Volatility

Is EXALMC1's price volatile compared to industry and market?
EXALMC1 volatility
EXALMC1 Average Weekly Movement	1.9%
Food Industry Average Movement	4.0%
Market Average Movement	3.9%
10% most volatile stocks in PE Market	7.3%
10% least volatile stocks in PE Market	1.8%

Stable Share Price: EXALMC1 is less volatile than 75% of PE stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: EXALMC1's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1976	1,196	Rossana Ortiz Rodriguez	https://www.exalmar.com.pe

Pesquera Exalmar S.A.A. operates in the fishery sector in Asia, Europe, the United States, Oceania, and Africa. The company operates through Direct Human Consumption and Indirect Human Consumption segments. It is involved in the extraction, transformation, commercialization, and export of hydrobiological products for the direct and indirect human consumption.

Pesquera ExalmarA Fundamentals Summary

How do Pesquera ExalmarA's earnings and revenue compare to its market cap?
EXALMC1 fundamental statistics
Market Cap	US$200.04m
Earnings (TTM)	US$38.99m
Revenue (TTM)	US$356.70m

5.1x

P/E Ratio

0.6x

P/S Ratio

Is EXALMC1 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
EXALMC1 income statement (TTM)
Revenue	US$356.70m
Cost of Revenue	US$278.31m
Gross Profit	US$78.39m
Other Expenses	US$39.40m
Earnings	US$38.99m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.13
Gross Margin	21.98%
Net Profit Margin	10.93%
Debt/Equity Ratio	98.0%

How did EXALMC1 perform over the long term?

See historical performance and comparison

Dividends

7.5%

Current Dividend Yield

38%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is EXALMC1 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 EXALMC1?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for EXALMC1. This is calculated by dividing EXALMC1's market cap by their current preferred multiple.
What is EXALMC1's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$200.04m

EXALMC1 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/Revenue	1.3x
Enterprise Value/EBITDA	5.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does EXALMC1's PE Ratio compare to its peers?

EXALMC1 PE Ratio vs Peers

The above table shows the PE ratio for EXALMC1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	6.2x
CASAGRC1 Casa GrandeA	5.3x	n/a	S/749.7m
AUSTRAC1 Austral GroupA	2.7x	n/a	S/321.2m
SNJACIC1 Agroindustrias San JacintoA	3.3x	n/a	S/199.2m
GLORIAI1 Leche Gloria	13.6x	n/a	S/3.4b
EXALMC1 Pesquera ExalmarA	5.1x	n/a	S/774.3m

Price-To-Earnings vs Peers: EXALMC1 is good value based on its Price-To-Earnings Ratio (5.1x) compared to the peer average (6.2x).

Price to Earnings Ratio vs Industry

How does EXALMC1's PE Ratio compare vs other companies in the South American Food Industry?

Price-To-Earnings vs Industry: EXALMC1 is expensive based on its Price-To-Earnings Ratio (5.1x) compared to the PE Food industry average (4.3x)

Price to Earnings Ratio vs Fair Ratio

What is EXALMC1'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.

EXALMC1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate EXALMC1's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of EXALMC1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EXALMC1 (PEN2.62) is trading below our estimate of fair value (PEN8.62)

Significantly Below Fair Value: EXALMC1 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 Pesquera ExalmarA 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

9.8%

Forecasted Food, Beverage & Tobacco 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 Pesquera ExalmarA 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.

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Examine whether Pesquera ExalmarA 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 Pesquera ExalmarA performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

41.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: EXALMC1 has high quality earnings.

Growing Profit Margin: EXALMC1's current net profit margins (10.9%) are lower than last year (11.1%).

Past Earnings Growth Analysis

Earnings Trend: EXALMC1 has become profitable over the past 5 years, growing earnings by 41.9% per year.

Accelerating Growth: EXALMC1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: EXALMC1 had negative earnings growth (-15.7%) over the past year, making it difficult to compare to the Food industry average (75.9%).

Return on Equity

High ROE: EXALMC1's Return on Equity (14.1%) is considered low.

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Financial Health

How is Pesquera ExalmarA's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: EXALMC1's short term assets ($211.5M) do not cover its short term liabilities ($222.8M).

Long Term Liabilities: EXALMC1's short term assets ($211.5M) exceed its long term liabilities ($177.1M).

Debt to Equity History and Analysis

Debt Level: EXALMC1's net debt to equity ratio (95.5%) is considered high.

Reducing Debt: EXALMC1's debt to equity ratio has reduced from 103.4% to 98% over the past 5 years.

Debt Coverage: EXALMC1's debt is not well covered by operating cash flow (17.1%).

Interest Coverage: EXALMC1's interest payments on its debt are well covered by EBIT (6.3x coverage).

Balance Sheet

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Dividend

What is Pesquera ExalmarA 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

7.50%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: EXALMC1's dividend (7.5%) is higher than the bottom 25% of dividend payers in the PE market (6.38%).

High Dividend: EXALMC1's dividend (7.5%) is low compared to the top 25% of dividend payers in the PE market (25.21%).

Stability and Growth of Payments

Stable Dividend: EXALMC1 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: EXALMC1's dividend payments have increased, but the company has only paid a dividend for 8 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (38.5%), EXALMC1's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (34.7%), EXALMC1's dividend payments are well covered by cash flows.

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Management

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

16.6yrs

Average management tenure

CEO

Rossana Ortiz Rodriguez

16.58yrs

Tenure

Ms. Rossana Ortiz Rodriguez has been General Manager and CEO at Pesquera Exalmar S.A. since 2006. Ms. Rodriguez served for six years as Manager of Administration and Finance and Business at Fima S.A. as we...

Leadership Team

Experienced Management: EXALMC1's management team is seasoned and experienced (16.6 years average tenure).

Board Members

Experienced Board: EXALMC1's board of directors are considered experienced (8.6 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 not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/14 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31