Financials DRB-HICOM

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
1.37 ^MYR	+0.74%		+0.74%	-1.44%

Apr. 26	DRB-HICOM Berhad Announces Final Dividend for December 31, 2023, Payable on 27 June 2024	CI
Apr. 04	DRB-HICOM Berhad Recommends Final Dividend for the Financial Year Ended 31 December 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,287	4,601	4,021	2,765	3,093	2,649	2,649	-
Enterprise Value (EV) ¹	6,229	4,601	4,021	2,765	3,093	2,687	2,649	2,649
P/E ratio	6.59 x	12.8 x	7.26 x	-9.33 x	16.5 x	11.2 x	7.88 x	6.28 x
Yield	1.76%	1.26%	0.96%	1.4%	1.25%	1.46%	1.64%	1.64%
Capitalization / Revenue	0.26 x	0.44 x	0.31 x	0.22 x	0.2 x	0.17 x	0.16 x	0.15 x
EV / Revenue	0.26 x	0.44 x	0.31 x	0.22 x	0.2 x	0.17 x	0.16 x	0.15 x
EV / EBITDA	2.65 x	4.07 x	2.15 x	2.78 x	2.04 x	1.62 x	1.19 x	1.28 x
EV / FCF	10.7 x	-7.01 x	6.36 x	-	-4.76 x	1.02 x	-	-
FCF Yield	9.37%	-14.3%	15.7%	-	-21%	98.2%	-	-
Price to Book	0.49 x	0.66 x	0.53 x	0.38 x	0.42 x	0.35 x	0.33 x	0.31 x
Nbr of stocks (in thousands)	1,933,237	1,933,237	1,933,237	1,933,237	1,933,237	1,933,237	1,933,237	-
Reference price ²	1.700	2.380	2.080	1.430	1.600	1.370	1.370	1.370
Announcement Date	5/31/18	2/28/20	2/24/21	2/24/22	2/21/23	2/29/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	12,790	10,536	13,156	12,378	15,512	15,851	16,680	17,616
EBITDA ¹	1,240	1,130	1,871	996.1	1,516	1,657	2,234	2,073
EBIT ¹	531.6	718.3	920.7	42.72	568.1	635	905.6	956.9
Operating Margin	4.16%	6.82%	7%	0.35%	3.66%	4.01%	5.43%	5.43%
Earnings before Tax (EBT) ¹	415.1	472.5	540.1	-291.3	410	446.9	673.2	786.6
Net income ¹	498.4	359	554.1	-296.4	187.7	238.9	336.1	421.6
Net margin	3.9%	3.41%	4.21%	-2.39%	1.21%	1.51%	2.01%	2.39%
EPS ²	0.2578	0.1857	0.2866	-0.1533	0.0971	0.1236	0.1738	0.2181
Free Cash Flow ¹	308	-656.6	632	-	-649.4	2,638	-	-
FCF margin	2.41%	-6.23%	4.8%	-	-4.19%	16.64%	-	-
FCF Conversion (EBITDA)	24.83%	-	33.78%	-	-	159.18%	-	-
FCF Conversion (Net income)	61.8%	-	114.04%	-	-	1,104.12%	-	-
Dividend per Share ²	0.0300	0.0300	0.0200	0.0200	0.0200	0.0200	0.0225	0.0225
Announcement Date	5/31/18	2/28/20	2/24/21	2/24/22	2/21/23	2/29/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	2,943	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.372 x	-	-	-	-	-	-	-
Free Cash Flow ¹	308	-657	632	-	-649	2,638	-	-
ROE (net income / shareholders' equity)	7.79%	2.65%	7.15%	-3.93%	2.52%	2.94%	2.9%	4.02%
ROA (Net income/ Total Assets)	1.14%	0.43%	1.27%	-0.64%	0.38%	0.43%	0.5%	0.8%
Assets ¹	43,719	83,268	43,636	46,374	49,307	55,042	67,217	52,698
Book Value Per Share ²	3.480	3.620	3.920	3.730	3.810	3.930	4.120	4.360
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	830	787	891	703	897	1,418	740	740
Capex / Sales	6.49%	7.47%	6.77%	5.68%	5.78%	8.94%	4.44%	4.2%
Announcement Date	5/31/18	2/28/20	2/24/21	2/24/22	2/21/23	2/29/24	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.37 MYR

Average target price

1.7 MYR

Spread / Average Target

+24.09%