Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 2.7x - 3.0x | 2.9x |
| Selected Fwd EBITDA Multiple | 2.6x - 2.9x | 2.7x |
| Fair Value | RM0.92 - RM1.03 | RM0.98 |
| Upside | 9.7% - 22.5% | 16.1% |
| Benchmarks | Ticker | Full Ticker |
| APM Automotive Holdings Berhad | APM | KLSE:APM |
| Betamek Berhad | BETA | KLSE:BETA |
| Pecca Group Berhad | PECCA | KLSE:PECCA |
| MCE Holdings Berhad | MCEHLDG | KLSE:MCEHLDG |
| New Hoong Fatt Holdings Berhad | NHFATT | KLSE:NHFATT |
| Sapura Industrial Berhad | SAPIND | KLSE:SAPIND |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| APM | BETA | PECCA | MCEHLDG | NHFATT | SAPIND | ||
| KLSE:APM | KLSE:BETA | KLSE:PECCA | KLSE:MCEHLDG | KLSE:NHFATT | KLSE:SAPIND | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 10.1% | 9.2% | 24.8% | NM- | 7.1% | 12.7% | |
| 3Y CAGR | 41.5% | 17.4% | 36.2% | 82.6% | 9.6% | 55.6% | |
| Latest Twelve Months | 33.5% | 7.6% | 12.7% | 44.5% | -16.2% | 9.3% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 7.0% | 13.6% | 22.4% | 12.0% | 24.6% | 8.3% | |
| Prior Fiscal Year | 7.4% | 12.7% | 23.1% | 16.3% | 29.5% | 8.6% | |
| Latest Fiscal Year | 9.8% | 14.4% | 30.5% | 16.7% | 27.2% | 10.1% | |
| Latest Twelve Months | 9.8% | 12.4% | 34.9% | 21.8% | 25.4% | 10.0% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.16x | 0.56x | 4.54x | 0.81x | 0.66x | 0.23x | |
| EV / LTM EBITDA | 1.6x | 4.5x | 13.0x | 3.7x | 2.6x | 2.3x | |
| EV / LTM EBIT | 2.3x | 5.4x | 13.9x | 4.1x | 4.6x | 4.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | 1.6x | 3.7x | 13.0x | ||||
| Historical EV / LTM EBITDA | 2.5x | 2.9x | 11.4x | ||||
| Selected EV / LTM EBITDA | 2.7x | 2.9x | 3.0x | ||||
| (x) LTM EBITDA | 28 | 28 | 28 | ||||
| (=) Implied Enterprise Value | 77 | 81 | 85 | ||||
| (-) Non-shareholder Claims * | (7) | (7) | (7) | ||||
| (=) Equity Value | 69 | 73 | 77 | ||||
| (/) Shares Outstanding | 72.8 | 72.8 | 72.8 | ||||
| Implied Value Range | 0.95 | 1.01 | 1.06 | ||||
| FX Rate: MYR/MYR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 0.95 | 1.01 | 1.06 | 0.84 | |||
| Upside / (Downside) | 13.5% | 20.1% | 26.7% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | APM | BETA | PECCA | MCEHLDG | NHFATT | SAPIND | |
| Enterprise Value | 331 | 137 | 1,026 | 130 | 180 | 68 | |
| (+) Cash & Short Term Investments | 617 | 62 | 111 | 109 | 134 | 49 | |
| (+) Investments & Other | 142 | 0 | 0 | 0 | 0 | 0 | |
| (-) Debt | (357) | (10) | (6) | (31) | (0) | (55) | |
| (-) Other Liabilities | (73) | 0 | (1) | (0) | 0 | (2) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 661 | 189 | 1,131 | 208 | 314 | 61 | |
| (/) Shares Outstanding | 195.5 | 450.0 | 725.3 | 139.9 | 165.3 | 72.8 | |
| Implied Stock Price | 3.38 | 0.42 | 1.56 | 1.49 | 1.90 | 0.84 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 3.38 | 0.42 | 1.56 | 1.49 | 1.90 | 0.84 | |
| Trading Currency | MYR | MYR | MYR | MYR | MYR | MYR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |