Financials GHL Systems

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-06-13 pm EDT			5-day change	1st Jan Change
1.07 ^MYR	-0.93%		0.00%	+53.96%

08:32am	GHL Systems Berhad Announces Re-Designation of Loh Wee Hian from Executive Vice Chairman to Non Independent Non-Executive Vice/Deputy Chairman	CI
May. 28	GHL Systems Berhad Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,011	2,169	1,986	981.7	793.3	1,221	-	-
Enterprise Value (EV) ¹	1,011	1,986	1,763	844.4	793.3	999.1	951.1	830.5
P/E ratio	35 x	113 x	70.4 x	34.8 x	27.6 x	40 x	34.2 x	31.5 x
Yield	-	-	-	2.91%	-	-	-	0.93%
Capitalization / Revenue	2.91 x	6.49 x	5.51 x	2.39 x	1.72 x	2.47 x	2.31 x	2.22 x
EV / Revenue	2.91 x	5.94 x	4.9 x	2.06 x	1.72 x	2.02 x	1.8 x	1.51 x
EV / EBITDA	14.2 x	39.1 x	25.4 x	12.2 x	12 x	13.8 x	11.8 x	9.33 x
EV / FCF	17.2 x	71.6 x	40.2 x	-14 x	-	19.7 x	17.6 x	14.5 x
FCF Yield	5.81%	1.4%	2.48%	-7.14%	-	5.06%	5.68%	6.9%
Price to Book	2.22 x	3.17 x	3.9 x	1.92 x	-	2.1 x	1.98 x	2.06 x
Nbr of stocks (in thousands)	1,123,814	1,141,500	1,141,500	1,141,500	1,141,500	1,141,500	-	-
Reference price ²	0.9000	1.900	1.740	0.8600	0.6950	1.070	1.070	1.070
Announcement Date	2/25/20	2/23/21	2/22/22	2/23/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	347.8	334.4	360.2	410.6	460.4	494	529.2	549.5
EBITDA ¹	71.05	50.79	69.32	69.18	65.92	72.57	80.62	89
EBIT ¹	38.83	22.01	39.63	42.92	42.15	46.83	53.7	56.3
Operating Margin	11.16%	6.58%	11%	10.45%	9.16%	9.48%	10.15%	10.25%
Earnings before Tax (EBT) ¹	38.88	19.67	40.68	41.43	40.16	44.35	50.52	56.65
Net income ¹	28.72	13.53	28.16	28.15	28.81	31.68	35.62	40.65
Net margin	8.26%	4.04%	7.82%	6.86%	6.26%	6.41%	6.73%	7.4%
EPS ²	0.0257	0.0168	0.0247	0.0247	0.0252	0.0268	0.0313	0.0340
Free Cash Flow ¹	58.8	27.74	43.81	-60.25	-	50.6	54	57.3
FCF margin	16.91%	8.3%	12.16%	-14.67%	-	10.24%	10.2%	10.43%
FCF Conversion (EBITDA)	82.76%	54.62%	63.2%	-	-	69.73%	66.98%	64.38%
FCF Conversion (Net income)	204.72%	205.1%	155.58%	-	-	159.72%	151.58%	140.96%
Dividend per Share ²	-	-	-	0.0250	-	-	-	0.0100
Announcement Date	2/25/20	2/23/21	2/22/22	2/23/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	-	182	223	137	-	222	270	391
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	58.8	27.7	43.8	-60.3	-	50.6	54	57.3
ROE (net income / shareholders' equity)	6.74%	2.93%	5.68%	5.52%	-	5.94%	6.45%	6.65%
ROA (Net income/ Total Assets)	4.4%	2%	3.87%	3.68%	-	3.8%	4%	4.5%
Assets ¹	653.3	675.7	728.3	765.7	-	833.7	890.6	903.3
Book Value Per Share ²	0.4100	0.6000	0.4500	0.4500	-	0.5100	0.5400	0.5200
Cash Flow per Share ²	-	0.0800	0.0800	-0.0200	-	0.0700	0.0800	-
Capex ¹	42.8	35.3	43.3	42.4	-	42.5	43.5	45
Capex / Sales	12.3%	10.56%	12.03%	10.33%	-	8.6%	8.22%	8.19%
Announcement Date	2/25/20	2/23/21	2/22/22	2/23/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1.07 MYR

Average target price

0.9717 MYR

Spread / Average Target

-9.19%