Financials DKSH Holdings (Malaysia)

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
4.76 ^MYR	-0.21%		-0.63%	+3.93%

Apr. 17	DKSH Holdings Berhad Proposes Payment of Final Single Tier Dividend for the Financial Year Ended December 31, 2023, Payable on July 18, 2024	CI
Feb. 27	DKSH Holdings Berhad Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	413.1	534.5	756.8	701.6	722.1	750.5	-	-
Enterprise Value (EV) ¹	413.1	534.5	756.8	701.6	722.1	750.5	750.5	750.5
P/E ratio	10.6 x	11.2 x	8.29 x	6.73 x	6.53 x	5.95 x	5.57 x	5.85 x
Yield	-	2.95%	-	-	-	3.36%	3.52%	3.78%
Capitalization / Revenue	0.06 x	0.08 x	0.11 x	0.1 x	0.1 x	0.1 x	0.09 x	0.09 x
EV / Revenue	0.06 x	0.08 x	0.11 x	0.1 x	0.1 x	0.1 x	0.09 x	0.09 x
EV / EBITDA	2.44 x	3.16 x	3.53 x	3.01 x	3.07 x	2.73 x	2.88 x	-
EV / FCF	-965,103,175 x	18,130,839 x	4,017,150 x	7,192,136 x	-	-	-	-
FCF Yield	-0%	0%	0%	0%	-	-	-	-
Price to Book	0.67 x	0.8 x	1.02 x	0.84 x	0.81 x	0.74 x	0.67 x	0.63 x
Nbr of stocks (in thousands)	157,658	157,658	157,658	157,658	157,658	157,658	-	-
Reference price ²	2.620	3.390	4.800	4.450	4.580	4.760	4.760	4.760
Announcement Date	2/19/20	2/24/21	2/23/22	4/20/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,455	6,356	6,738	7,163	7,524	7,669	7,916	8,014
EBITDA ¹	169	168.9	214.4	233.5	235.4	274.5	260.8	-
EBIT ¹	112	107.8	154.9	173.3	173.9	203	216.5	197.1
Operating Margin	1.73%	1.7%	2.3%	2.42%	2.31%	2.65%	2.73%	2.46%
Earnings before Tax (EBT) ¹	61	73.32	126.9	145.3	147.2	174.8	180	173.2
Net income ¹	39.08	47.7	91.28	104.2	110.5	126	135.2	128.2
Net margin	0.61%	0.75%	1.35%	1.45%	1.47%	1.64%	1.71%	1.6%
EPS ²	0.2479	0.3025	0.5789	0.6610	0.7010	0.7997	0.8553	0.8130
Free Cash Flow	-0.428	29.48	188.4	97.55	-	-	-	-
FCF margin	-0.01%	0.46%	2.8%	1.36%	-	-	-	-
FCF Conversion (EBITDA)	-	17.45%	87.86%	41.78%	-	-	-	-
FCF Conversion (Net income)	-	61.8%	206.39%	93.6%	-	-	-	-
Dividend per Share ²	-	0.1000	-	-	-	0.1600	0.1673	0.1800
Announcement Date	2/19/20	2/24/21	2/23/22	4/20/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-0.43	29.5	188	97.5	-	-	-	-
ROE (net income / shareholders' equity)	6.42%	7.41%	12.9%	13.2%	12.8%	12.8%	12.4%	10.9%
ROA (Net income/ Total Assets)	1.6%	1.77%	3.41%	3.71%	3.7%	3.8%	3.8%	3.8%
Assets ¹	2,443	2,701	2,679	2,806	2,986	3,316	3,557	3,374
Book Value Per Share ²	3.930	4.240	4.720	5.270	5.660	6.400	7.100	7.500
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	16.3	11	8.99	10.8	13.3	10	10	-
Capex / Sales	0.25%	0.17%	0.13%	0.15%	0.18%	0.13%	0.13%	-
Announcement Date	2/19/20	2/24/21	2/23/22	4/20/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

4.76 MYR

Average target price

5.43 MYR

Spread / Average Target

+14.08%