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AFT

AfrimatJSE:AFT Stock Report

Market Cap

R7.4b

7D

6.7%

1Y

33.4%

Updated

01 Dec, 2021

Data

Company Financials
AFT fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance6/6
Financial Health6/6
Dividends3/6

AFT Stock Overview

Afrimat Limited, an open pit mining company, provides industrial minerals and construction materials in South Africa.

Afrimat Competitors

Raubex Group

JSE:RBX

R6.4b

Price History & Performance

Summary of all time highs, changes and price drops for Afrimat
Historical stock prices
Current Share PriceR53.90
52 Week HighR61.60
52 Week LowR37.66
Beta0.50
1 Month Change12.25%
3 Month Change-2.74%
1 Year Change33.38%
3 Year Change98.16%
5 Year Change89.19%
Change since IPO557.32%

Recent News & Updates

Shareholder Returns

AFTZA Basic MaterialsZA Market
7D6.7%-0.6%1.7%
1Y33.4%34.3%18.5%

Return vs Industry: AFT matched the ZA Basic Materials industry which returned 33.8% over the past year.

Return vs Market: AFT exceeded the ZA Market which returned 17.7% over the past year.

Price Volatility

Is AFT's price volatile compared to industry and market?
AFT volatility
AFT Average Weekly Movement6.3%
Basic Materials Industry Average Movement4.1%
Market Average Movement6.1%
10% most volatile stocks in ZA Market12.5%
10% least volatile stocks in ZA Market3.5%

Stable Share Price: AFT is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: AFT's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1963n/aAndries van Heerdenhttps://www.afrimat.co.za

Afrimat Limited, an open pit mining company, provides industrial minerals and construction materials in South Africa. It operates through three segments: Construction Materials, Industrial Minerals, and Bulk Commodities. The Construction Materials segment offers aggregates, readymix concrete, building lime, bricks and blocks, roadlime, and silica products, as well as clinker supplies.

Afrimat Fundamentals Summary

How do Afrimat's earnings and revenue compare to its market cap?
AFT fundamental statistics
Market CapR7.43b
Earnings (TTM)R755.17m
Revenue (TTM)R4.56b

9.8x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AFT income statement (TTM)
RevenueR4.56b
Cost of RevenueR2.77b
Gross ProfitR1.78b
ExpensesR1.03b
EarningsR755.17m

Last Reported Earnings

Aug 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)5.48
Gross Margin39.11%
Net Profit Margin16.57%
Debt/Equity Ratio19.0%

How did AFT perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

28%

Payout Ratio

Valuation

Is Afrimat undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AFT (ZAR53.9) is trading below our estimate of fair value (ZAR220.88)

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


Price To Earnings Ratio

PE vs Industry: AFT is good value based on its PE Ratio (9.8x) compared to the African Basic Materials industry average (10.6x).

PE vs Market: AFT is good value based on its PE Ratio (9.8x) compared to the ZA market (10.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AFT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AFT is overvalued based on its PB Ratio (2.8x) compared to the XF Basic Materials industry average (1.5x).


Future Growth

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

6.3%

Forecasted Materials 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 Afrimat 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.


Past Performance

How has Afrimat performed over the past 5 years?

23.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AFT has high quality earnings.

Growing Profit Margin: AFT's current net profit margins (16.6%) are higher than last year (14.7%).


Past Earnings Growth Analysis

Earnings Trend: AFT's earnings have grown significantly by 23.1% per year over the past 5 years.

Accelerating Growth: AFT's earnings growth over the past year (63.6%) exceeds its 5-year average (23.1% per year).

Earnings vs Industry: AFT earnings growth over the past year (63.6%) exceeded the Basic Materials industry 54.2%.


Return on Equity

High ROE: AFT's Return on Equity (28%) is considered high.


Financial Health

How is Afrimat's financial position?


Financial Position Analysis

Short Term Liabilities: AFT's short term assets (ZAR1.5B) exceed its short term liabilities (ZAR1.1B).

Long Term Liabilities: AFT's short term assets (ZAR1.5B) exceed its long term liabilities (ZAR865.1M).


Debt to Equity History and Analysis

Debt Level: AFT has more cash than its total debt.

Reducing Debt: AFT's debt to equity ratio has reduced from 29.8% to 19% over the past 5 years.

Debt Coverage: AFT's debt is well covered by operating cash flow (241.1%).

Interest Coverage: AFT's interest payments on its debt are well covered by EBIT (39.9x coverage).


Balance Sheet


Dividend

What is Afrimat current dividend yield, its reliability and sustainability?

2.82%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AFT's dividend (2.82%) isn’t notable compared to the bottom 25% of dividend payers in the ZA market (2.97%).

High Dividend: AFT's dividend (2.82%) is low compared to the top 25% of dividend payers in the ZA market (7.61%).


Stability and Growth of Payments

Stable Dividend: AFT's dividends per share have been stable in the past 10 years.

Growing Dividend: AFT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.6%), AFT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

11.1yrs

Average board tenure


CEO

Andries van Heerden (56 yo)

15.17yrs

Tenure

R5,554,000

Compensation

Mr. Andries Johannes van Heerden, B.Eng (Mech), MBA, has been Chief Executive Officer of Afrimat Limited since October 4, 2006. Mr. van Heerden started his career at Iscor Mining serving in different manag...


CEO Compensation Analysis

Compensation vs Market: Andries's total compensation ($USD350.54K) is below average for companies of similar size in the ZA market ($USD765.54K).

Compensation vs Earnings: Andries's compensation has been consistent with company performance over the past year.


Board Members

Experienced Board: AFT's board of directors are seasoned and experienced ( 11.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: AFT insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.4%.


Top Shareholders

Company Information

Afrimat Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Afrimat Limited
  • Ticker: AFT
  • Exchange: JSE
  • Founded: 1963
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: R7.432b
  • Shares outstanding: 137.88m
  • Website: https://www.afrimat.co.za

Number of Employees


Location

  • Afrimat Limited
  • Tyger Valley Office Park No. 2
  • Cor Willie van Schoor Ave & Old Oak Rd
  • Bellville
  • Western Cape
  • 7530
  • South Africa

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/01 22:03
End of Day Share Price2021/12/01 00:00
Earnings2021/08/31
Annual Earnings2021/02/28


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.