Financials GFM Services

Equities

GFM

MYQ0039OO006

Consumer Goods Conglomerates

End-of-day quote BURSA MALAYSIA 06:00:00 2024-05-30 pm EDT 5-day change 1st Jan Change
0.395 MYR -2.47% Intraday chart for GFM Services -7.06% +41.07%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 202.5 137 93.76 107.3 148.4 193.3
Enterprise Value (EV) 1 480.3 401.6 363.7 354.1 358.3 418.4
P/E ratio 25.1 x 23.8 x 10.5 x 10.5 x 6.78 x 7.08 x
Yield 2.57% 0.61% 3.6% - 0.8% 5.5%
Capitalization / Revenue 1.65 x 1.05 x 0.8 x 0.86 x 1.05 x 1.32 x
EV / Revenue 3.9 x 3.08 x 3.09 x 2.85 x 2.55 x 2.87 x
EV / EBITDA 26 x 10.2 x 8.66 x 8.62 x 6.98 x 7.06 x
EV / FCF -12.8 x 40.2 x 18.6 x 26.1 x 66.7 x 14.6 x
FCF Yield -7.83% 2.49% 5.37% 3.83% 1.5% 6.84%
Price to Book 2.3 x 1.3 x 0.82 x 0.86 x 0.91 x 1.05 x
Nbr of stocks (in thousands) 470,913 472,285 520,881 550,379 690,462 690,462
Reference price 2 0.4300 0.2900 0.1800 0.1950 0.2150 0.2800
Announcement Date 4/30/19 5/5/20 5/7/21 4/29/22 4/28/23 4/30/24
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 123.1 130.6 117.5 124.1 140.8 145.9
EBITDA 1 18.48 39.41 42.01 41.07 51.37 59.24
EBIT 1 16.59 37.48 39.86 38.61 48.87 56.68
Operating Margin 13.48% 28.7% 33.92% 31.11% 34.71% 38.85%
Earnings before Tax (EBT) 1 12.27 13.42 17.73 18.43 29.58 40.88
Net income 1 7.636 5.945 8.563 10.01 18.29 27.3
Net margin 6.2% 4.55% 7.29% 8.06% 12.99% 18.71%
EPS 2 0.0171 0.0122 0.0172 0.0186 0.0317 0.0395
Free Cash Flow 1 -37.59 9.983 19.53 13.56 5.37 28.6
FCF margin -30.54% 7.64% 16.62% 10.93% 3.81% 19.6%
FCF Conversion (EBITDA) - 25.33% 46.49% 33.03% 10.45% 48.27%
FCF Conversion (Net income) - 167.94% 228.11% 135.51% 29.37% 104.76%
Dividend per Share 2 0.0110 0.001771 0.006473 - 0.001730 0.0154
Announcement Date 4/30/19 5/5/20 5/7/21 4/29/22 4/28/23 4/30/24
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 278 265 270 247 210 225
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 15.03 x 6.714 x 6.424 x 6.008 x 4.086 x 3.799 x
Free Cash Flow 1 -37.6 9.98 19.5 13.6 5.37 28.6
ROE (net income / shareholders' equity) 9.99% 5.72% 8.04% 8.36% 12.7% 15.8%
ROA (Net income/ Total Assets) 3.31% 4.41% 4.81% 4.69% 5.86% 6.55%
Assets 1 230.4 134.8 177.9 213.3 312 416.5
Book Value Per Share 2 0.1900 0.2200 0.2200 0.2300 0.2400 0.2700
Cash Flow per Share 2 0.0800 0.0600 0.0500 0.0600 0.0700 0.0700
Capex 1 1.22 3.15 0.3 0.5 0.5 0.42
Capex / Sales 0.99% 2.41% 0.25% 0.4% 0.35% 0.29%
Announcement Date 4/30/19 5/5/20 5/7/21 4/29/22 4/28/23 4/30/24
1MYR in Million2MYR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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