Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to R13.21, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 10x in the Metals and Mining industry in South Africa. Total returns to shareholders of 20% over the past three years. Recent Insider Transactions • May 29
Alternate Director recently sold R8.6m worth of stock On the 27th of May, Gareth Sheppard sold around 500k shares on-market at roughly R17.24 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Gareth's only on-market trade for the last 12 months. Announcement • Apr 29
Master Drilling Group Limited, Annual General Meeting, Jun 11, 2026 Master Drilling Group Limited, Annual General Meeting, Jun 11, 2026. Location: company`s board room, 4 bosman street, fochville South Africa Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: US$0.20 (vs US$0.12 in FY 2024) Full year 2025 results: EPS: US$0.20 (up from US$0.12 in FY 2024). Revenue: US$292.0m (up 7.8% from FY 2024). Net income: US$30.5m (up 75% from FY 2024). Profit margin: 10% (up from 6.4% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Alternate Director Gary Sheppard was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Mar 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by cash flows (119% cash payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R19.20, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 25x in the Metals and Mining industry in South Africa. Total returns to shareholders of 56% over the past three years. Announcement • Jan 28
Master Drilling Group Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 Master Drilling Group Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 New Risk • Dec 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (119% cash payout ratio). Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Aug 27
First half 2025 earnings released: EPS: US$0.12 (vs US$0.02 in 1H 2024) First half 2025 results: EPS: US$0.12 (up from US$0.02 in 1H 2024). Revenue: US$133.2m (up 4.9% from 1H 2024). Net income: US$17.6m (up 475% from 1H 2024). Profit margin: 13% (up from 2.4% in 1H 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. New Risk • Jul 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to R16.50, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 8x in the Metals and Mining industry in South Africa. Total returns to shareholders of 38% over the past three years. Upcoming Dividend • Jun 11
Upcoming dividend of R0.65 per share Eligible shareholders must have bought the stock before 18 June 2025. Payment date: 23 June 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of South African dividend payers (8.0%). Higher than average of industry peers (3.1%). Announcement • May 01
Master Drilling Group Limited, Annual General Meeting, Jun 12, 2025 Master Drilling Group Limited, Annual General Meeting, Jun 12, 2025. Location: the board room, 4 bosman street, fochville, South Africa Announcement • Mar 29
Master Drilling Group Limited to Report First Half, 2025 Results on Aug 26, 2025 Master Drilling Group Limited announced that they will report first half, 2025 results on Aug 26, 2025 Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: US$0.12 (vs US$0.14 in FY 2023) Full year 2024 results: EPS: US$0.12 (down from US$0.14 in FY 2023). Revenue: US$270.8m (up 12% from FY 2023). Net income: US$17.4m (down 15% from FY 2023). Profit margin: 6.4% (down from 8.5% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. New Risk • Feb 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). New Risk • Feb 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Announcement • Jan 23
Master Drilling Group Limited to Report Fiscal Year 2024 Results on Mar 24, 2025 Master Drilling Group Limited announced that they will report fiscal year 2024 results on Mar 24, 2025 New Risk • Dec 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: R1.85b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Market cap is less than US$100m (R1.85b market cap, or US$99.3m). Announcement • Aug 17
Master Drilling Group Limited Provides Earnings Guidance for the Six Months Ended June 30, 2024 Master Drilling Group Limited provided earnings guidance for the six months ended June 30, 2024. For the period, the company expects earnings per share in ZAR terms are expected to be between 6,00 and 40,30 cents per share compared to the EPS of 171,30 cents per share for the 6 months ended 30 June 2023, which is between 96,5% and 76,5% lower than the EPS of the comparative period as reported in ZAR. These lower EPS for the current period were largely the result of non-cash adjustments deemed appropriate in the interim results. Shareholders are further advised that the Company's EPS for the current period in USD terms are expected to be between 0.30 and 2.20 cents per share compared to the EPS of 9.40 cents per share for the comparative period, which is between 96.9% and 76.9% lower than the EPS in the comparative period as reported in USD. These lower EPS were largely the result of non-cash adjustments deemed appropriate in the interim results. Announcement • Aug 16
Master Drilling Group Limited to Report First Half, 2024 Results on Aug 27, 2024 Master Drilling Group Limited announced that they will report first half, 2024 results on Aug 27, 2024 Upcoming Dividend • May 09
Upcoming dividend of R0.53 per share Eligible shareholders must have bought the stock before 15 May 2024. Payment date: 20 May 2024. Payout ratio is a comfortable 21% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Lower than top quartile of South African dividend payers (9.1%). In line with average of industry peers (3.9%). Announcement • May 01
Master Drilling Group Limited, Annual General Meeting, Jun 10, 2024 Master Drilling Group Limited, Annual General Meeting, Jun 10, 2024, at 09:00 South Africa Standard Time. Location: BDO offices,Wanderers Office Park, 52 Corlett Drive, Illovo Joahannesburg South Africa Agenda: To transact the business as stated in the AGM notice. New Risk • Mar 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 288% Dividend yield: 4.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (288% cash payout ratio). Market cap is less than US$100m (R1.86b market cap, or US$98.7m). Declared Dividend • Mar 28
Dividend of R0.53 announced Shareholders will receive a dividend of R0.53. Ex-date: 15th May 2024 Payment date: 20th May 2024 Dividend yield will be 4.3%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but not covered by cash flows (250% cash payout ratio). The dividend has increased over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 4.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 27
Master Drilling Group Limited Declares Gross Dividend for the Financial Year Ended 31 December 2023, Payable on 20 May 2024 Master Drilling Group Limited announced that, in respect of the financial year ended 31 December 2023, the Board on 25 March 2024 declared a gross dividend of 52.5 cents per share in ZAR terms payable to shareholders recorded in the Company's share register on 17 May 2024. This dividend represents a 5 times earnings cover which is in line with the desired level indicated in its listing prospectus, of a 4 to 5 times earnings cover. Last date to trade cum dividend is 14 May 2024.Trading ex-dividend commences is 15 May 2024.Record date is 17 May 2024. Payment date is 20 May 2024. New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. New Risk • Jan 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. New Risk • Dec 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: R1.89b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • Aug 18
Master Drilling Group Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023 Master Drilling Group Limited provided earnings guidance for the six months ended 30 June 2023. The company advised that its earnings per share (‘EPS’) for the six months ended 30 June 2023 (‘current period’) in ZAR terms are expected to be between 164.40 and 178.20 cents per share compared to the EPS of 137.10 cents per share for the six months ended 30 June 2022 (‘comparative period’), which is between 19.9% and 29.9% higher than the EPS of the comparative period as reported in ZAR. Headline earnings per share (‘HEPS’) for the current period are expected to be between 162.70 and 176.30 cents per share compared to the HEPS of 135.6 cents per share for the comparative period, which is between 20% and 30% higher than the HEPS for the comparative period as reported in ZAR. Shareholders are further advised that the Company's EPS for the current period in USD terms are expected to be between 9.00 and 9.80 cents per share compared to the EPS of 8.90 cents per share for the comparative period, which is between 0.6% and 10.6% higher than the EPS in the comparative period as reported in USD. HEPS for the current period are expected to be between 8.90 and 9.70 cents per share compared to the HEPS of 8.80 cents per share for the comparative period, which is between 0.7% and 10.7% higher than the HEPS for the comparative period as reported in USD. New Risk • Jul 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: R1.82b (US$96.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Upcoming Dividend • May 10
Upcoming dividend of R0.47 per share at 3.4% yield Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 22 May 2023. Payout ratio is a comfortable 20% and the cash payout ratio is 85%. Trailing yield: 3.4%. Lower than top quartile of South African dividend payers (9.5%). Lower than average of industry peers (6.1%). Reported Earnings • May 03
Full year 2022 earnings released: EPS: US$0.14 (vs US$0.13 in FY 2021) Full year 2022 results: EPS: US$0.14 (up from US$0.13 in FY 2021). Revenue: US$226.4m (up 32% from FY 2021). Net income: US$21.5m (up 7.5% from FY 2021). Profit margin: 9.5% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 35% per year. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: US$0.14 (vs US$0.13 in FY 2021) Full year 2022 results: EPS: US$0.14 (up from US$0.13 in FY 2021). Revenue: US$226.4m (up 32% from FY 2021). Net income: US$21.5m (up 7.5% from FY 2021). Profit margin: 9.5% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 29% per year. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: US$0.089 (vs US$0.06 in 1H 2021) First half 2022 results: EPS: US$0.089 (up from US$0.06 in 1H 2021). Revenue: US$96.5m (up 34% from 1H 2021). Net income: US$13.4m (up 47% from 1H 2021). Profit margin: 14% (up from 13% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 12% per year. Announcement • Aug 06
Master Drilling Group Limited to Report First Half, 2022 Results on Aug 30, 2022 Master Drilling Group Limited announced that they will report first half, 2022 results on Aug 30, 2022 Upcoming Dividend • Jun 01
Upcoming dividend of R0.33 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 13 June 2022. Trailing yield: 2.3%. Lower than top quartile of South African dividend payers (7.9%). Lower than average of industry peers (8.0%). Announcement • Apr 21
Master Drilling Group Limited, Annual General Meeting, Jun 13, 2022 Master Drilling Group Limited, Annual General Meeting, Jun 13, 2022, at 09:00 South Africa Standard Time. Location: BDO offices, Wanderers Office Park, 52 Corlett Drive, Illovo Johanessburg Gauteng South Africa Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 16% share price gain to R13.99, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 6x in the Metals and Mining industry in South Africa. Total returns to shareholders of 53% over the past three years. Announcement • Nov 30
Master Drilling Group Limited Provides Earnings Guidance for the Year Ending December 31, 2021 Master Drilling Group Limited provided earnings guidance for the year ending December 31, 2021. For the year, the company’s earnings per share (EPS) and headline earnings per share (HEPS) in USD terms are expected to be more than 400% higher than the HEPS and EPS for the year ended December 31, 2020 (previous period), which amounted to EPS of 2.2 cents and HEPS of 2.6 cents, and in ZAR terms are expected to be more than 350% higher than the previous period which amounted to EPS of 36.3 cents and HEPS of 42.6 cents. Recent Insider Transactions • Nov 18
Chief Operating Officer of Exploration recently sold R1.3m worth of stock On the 15th of November, Fred Dixon sold around 105k shares on-market at roughly R12.60 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improved over the past week After last week's 19% share price gain to R13.42, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 6x in the Metals and Mining industry in South Africa. Total returns to shareholders of 45% over the past three years. Reported Earnings • Sep 03
First half 2021 earnings released: EPS US$0.06 (vs US$0.032 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: US$72.0m (up 25% from 1H 2020). Net income: US$9.10m (up 91% from 1H 2020). Profit margin: 13% (up from 8.3% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improved over the past week After last week's 20% share price gain to R10.18, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 6x in the Metals and Mining industry in South Africa. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 16% share price gain to US$8.52, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 6x in the Metals and Mining industry in South Africa. Total loss to shareholders of 26% over the past three years. Announcement • Aug 13
Master Drilling Group Limited Provides Earnings Guidance for the Six Months Ended June 30, 2021 Master Drilling Group Limited provided earnings guidance for the six months ended June 30, 2021. Earnings per share ("EPS") for the 6 months ending 30 June 2021 in ZAR terms are expected to be between 94.70 and 100.00 cents per share compared to the EPS of 53.30 cents per share for the 6 months ended 30 June 2020 which is between 77.6% and 87.6% higher than the EPS of the comparative period as reported in ZAR. Headline earnings per share ("HEPS") for the current period are expected to be between 84.90 and 90.20 cents per share compared to the HEPS of 53.30 cents per share for the comparative period, which is between 59.2% and 69.2% higher than the HEPS for the comparative period as reported in ZAR. Announcement • Mar 19
Master Drilling Group Limited Provides Earnings Guidance for the Year Ended December 31, 2020 Master Drilling Group Limited provided earnings guidance for the year ended December 31, 2020. Further to the trading statement of 26 November 2020, shareholders are advised that the Company's earnings per share ("EPS") for the year ending 31 December 2020 ("current period") in ZAR terms are expected to be between 27.20 and 41.80 cents per share compared to the EPS of 145.90 cents per share for the year ended 31 December 2019 ("comparative period"), which is between 71.4% and 81.4% lower than the EPS of the comparative period as reported in ZAR while the headline earnings per share ("HEPS") are expected to be between 33.60 and 48.40 cents per share compared to the HEPS of 148.80 cents per share for the year ended 31 December 2019 ("comparative period"), which is between 67.4% and 77.4% lower than the HEPS of the comparative period as reported in ZAR. Shareholders are also advised that the Company's EPS for the current period in USD terms are expected to be between 1.60 and 2.60 cents per share compared to the EPS of 10.10 cents per share for the comparative period, which is between 74.2% and 84.2% lower than the EPS of the comparative period as reported in USD while the HEPS are expected to be between 2.00 and 3.00 cents per share compared to the HEPS of 10.30 cents per share for the comparative period, which is between 70.7% and 80.7% lower than the HEPS in the comparative period as reported in USD. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$7.57, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 9x in the Metals and Mining industry in South Africa. Total loss to shareholders of 42% over the past three years. Is New 90 Day High Low • Feb 20
New 90-day high: R7.99 The company is up 8.0% from its price of R7.39 on 20 November 2020. The South African market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 26% over the same period. Is New 90 Day High Low • Jan 21
New 90-day low: R6.70 The company is down 1.0% from its price of R6.80 on 23 October 2020. The South African market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 6.0% over the same period. Announcement • Nov 27
Master Drilling Group Limited to Report Fiscal Year 2020 Results on Mar 23, 2021 Master Drilling Group Limited announced that they will report fiscal year 2020 results on Mar 23, 2021 Valuation Update With 7 Day Price Move • Oct 17
Market bids up stock over the past week After last week's 17% share price gain to US$7.63, the stock is trading at a trailing P/E ratio of 5.9x, up from the previous P/E ratio of 5x. This compares to an average P/E of 15x in the Metals and Mining industry in South Africa. Total return to shareholders over the past three years is a loss of 41%.