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Balwin Properties BWN.JO · ZAc

Consumer Discretionary · JSE · 🇿🇦 South Africa

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At a glance

Figures in ZAR, from our data supplier.

FY2025

Revenue

ZAR 2.22bn

FY2016FY2025

Net income

ZAR 232.7m

FY2016FY2025

Free cash flow

−ZAR 285.0m

FY2016FY2025

Shareholders' equity

ZAR 4.25bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueZAR 2.22bnZAR 2.36bnZAR 3.33bnZAR 3.13bnZAR 2.70bnZAR 2.91bnZAR 2.61bnZAR 2.45bnZAR 2.70bnZAR 2.08bn
Gross profitZAR 672.2mZAR 665.7mZAR 960.1mZAR 832.6mZAR 721.0mZAR 789.8mZAR 787.9mZAR 805.2mZAR 1.01bnZAR 895.1m
Operating incomeZAR 323.6mZAR 339.0mZAR 581.2mZAR 504.7mZAR 462.1mZAR 573.1mZAR 630.1mZAR 670.8mZAR 903.1mZAR 765.9m
Net incomeZAR 232.7mZAR 215.7mZAR 436.3mZAR 362.6mZAR 336.2mZAR 411.6mZAR 452.4mZAR 491.3mZAR 660.7mZAR 558.6m
Diluted earnings per share0.500.460.940.770.720.880.961.041.401.31

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsZAR 8.08bnZAR 7.63bnZAR 7.30bnZAR 6.60bnZAR 5.40bnZAR 4.61bnZAR 4.40bnZAR 3.63bnZAR 3.27bnZAR 1.89bn
Cash and short-term investmentsZAR 254.8mZAR 289.6mZAR 607.3mZAR 665.6mZAR 404.7mZAR 510.6mZAR 332.8mZAR 103.9mZAR 577.1mZAR 469.7m
Total liabilitiesZAR 3.83bnZAR 3.62bnZAR 3.46bnZAR 3.08bnZAR 2.20bnZAR 1.66bnZAR 1.75bnZAR 1.32bnZAR 1.26bnZAR 389.7m
DebtZAR 3.25bnZAR 3.07bnZAR 2.96bnZAR 2.67bnZAR 1.90bnZAR 1.42bnZAR 1.52bnZAR 1.25bnZAR 1.10bnZAR 242.2m
Shareholders' equityZAR 4.25bnZAR 4.01bnZAR 3.83bnZAR 3.52bnZAR 3.20bnZAR 2.95bnZAR 2.65bnZAR 2.31bnZAR 2.01bnZAR 1.50bn
Shares outstanding468m467m466m471m469m468m472m472m472m427m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operations−ZAR 211.5m−ZAR 307.9mZAR 245.2m−ZAR 141.1m−ZAR 484.8mZAR 394.6mZAR 101.2m−ZAR 390.2m−ZAR 593.5mZAR 81.2m
Capital spending−ZAR 73.5m−ZAR 60.9m−ZAR 98.0m−ZAR 93.9m−ZAR 32.8m−ZAR 28.3m−ZAR 35.1m−ZAR 40.2m−ZAR 9.0m−ZAR 15.7m
Free cash flow−ZAR 285.0m−ZAR 368.8mZAR 147.2m−ZAR 235.0m−ZAR 517.7mZAR 366.3mZAR 66.0m−ZAR 430.5m−ZAR 602.5mZAR 65.5m
Dividends paid—−ZAR 73.2m−ZAR 121.5m−ZAR 114.9m−ZAR 92.5m−ZAR 123.8m−ZAR 99.2m−ZAR 193.6m−ZAR 151.5m−ZAR 419.7m

Latest quarters

By quarter end

Feb 2025Aug 2024Feb 2024Aug 2023Feb 2023Nov 2022Aug 2022Feb 2022
RevenueZAR 1.37bnZAR 852.7mZAR 1.17bnZAR 1.19bnZAR 1.75bnZAR 873.1mZAR 1.58bnZAR 1.81bn
Gross profitZAR 400.8mZAR 271.4mZAR 269.2mZAR 396.4mZAR 556.6mZAR 278.3mZAR 403.5mZAR 524.0m
Operating incomeZAR 230.6mZAR 116.4mZAR 90.9mZAR 239.9mZAR 359.0mZAR 169.1mZAR 233.8mZAR 354.4m
Net incomeZAR 156.3mZAR 76.4mZAR 38.9mZAR 176.8mZAR 263.7mZAR 132.2mZAR 172.6mZAR 245.5m
Diluted earnings per share0.330.160.080.380.570.290.370.52
Total assetsZAR 8.08bnZAR 7.66bnZAR 7.63bnZAR 7.64bnZAR 7.30bnZAR 7.30bnZAR 6.79bnZAR 6.60bn
Cash and short-term investmentsZAR 254.8mZAR 242.8mZAR 289.6mZAR 442.6mZAR 607.3mZAR 607.4mZAR 588.8mZAR 686.0m
DebtZAR 938.5mZAR 1.15bnZAR 1.11bnZAR 1.33bnZAR 1.27bnZAR 1.27bnZAR 1.16bnZAR 844.9m
Shareholders' equityZAR 4.25bnZAR 4.09bnZAR 4.01bnZAR 3.96bnZAR 3.83bnZAR 3.84bnZAR 3.61bnZAR 3.52bn

Financial ratios

Data as of 1 Nov 2026

FY2026FY2025FY2024FY2023FY2022FY2021
Gross margin25.0%30.3%28.3%28.9%26.6%26.7%
Operating margin14.9%16.4%14.4%17.4%16.4%17.7%
Net margin9.1%10.5%9.2%13.1%11.6%12.4%
Return on equity5.4%5.5%5.4%11.4%10.3%10.5%
Return on assets2.9%2.9%2.8%6.0%5.5%6.2%
Free cash flow yield0.1%-0.1%-0.1%0.2%-0.0%-0.2%
Revenue growth21.5%-5.7%-29.2%6.5%15.7%-7.3%
Earnings growth5.4%7.9%-50.6%20.3%7.9%-18.3%
Current ratio0.26x2.89x3.23x3.52x3.14x2.91x
Debt to equity0.71x0.76x0.77x0.77x0.72x0.59x
Equity ratio53.6%52.6%52.5%52.5%53.3%59.3%
Interest coverage7.56x7.28x6.74x18.01x16.62x43.54x
Buybacks as a share of market value-4.1%-0.1%0.0%-1.0%1.8%0.1%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-10.8%-5.3%5.1%
Operating income-13.8%-10.8%-3.8%
Net income-13.7%-10.8%-3.6%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin29.2%28.4%27.9%31.0%
Operating margin14.5%15.9%16.7%22.4%
Net margin9.8%11.3%12.0%16.1%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings5.85.42.33.74.85.23.92.93.65.7
Price to sales0.60.50.30.40.60.70.70.60.91.5

Dividends and splits

Per share, in the currency the company pays

Paid for 0 years. Last went ex-dividend on 21 Jun 2023.

FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Paid in the year0.1410.2340.2360.1960.2620.210.410.321

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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