Projected Income Statement: Gas Malaysia

Forecast Balance Sheet: Gas Malaysia

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 88.6 91.3 -125 -350 -359 -137 -46.3 134
Change - 3.05% -236.91% -380% -202.57% -138.2% -133.8% 189.42%
Announcement Date 2/13/20 2/26/21 2/16/22 2/17/23 2/20/24 - - -
1MYR in Million
Estimates

Cash Flow Forecast: Gas Malaysia

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 173.3 168.6 178.9 185.4 221.9 229.8 228.8 235.2
Change - -2.7% 6.07% 3.66% 19.63% 3.57% -0.45% 2.8%
Free Cash Flow (FCF) 1 -58.24 184.1 418.3 473 294 228.9 239.4 249.8
Change - -416.06% 127.25% 13.08% -37.85% -22.15% 4.58% 4.35%
Announcement Date 2/13/20 2/26/21 2/16/22 2/17/23 2/20/24 - - -
1MYR in Million
Estimates

Forecast Financial Ratios: Gas Malaysia

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 4.52% 5.72% 7.35% 8.4% 7.5% 6.85% 7.41% 7.49%
EBIT Margin (%) 3.37% 4.41% 5.75% 7.06% 6.21% 5.63% 5.67% 5.74%
EBT Margin (%) 3.52% 4.35% 5.65% 7.15% 6.36% 5.86% 5.82% 5.81%
Net margin (%) 2.76% 3.18% 4.27% 5.09% 4.75% 4.52% 4.57% 4.6%
FCF / Net Income (%) -0.85% 2.75% 7.15% 6.18% 3.64% 2.75% 2.87% 2.96%

Profitability

        
ROA 7.39% 8.08% 9.04% 12.95% 12.07% 10.96% 10.5% 10.07%
ROE 18.39% 20.03% 22.59% 32.35% 28.98% 25.11% 23.09% 21.61%

Financial Health

        
Leverage (Debt/EBITDA) 0.28x 0.24x - - - - - 0.21x
Debt / Free cash flow -1.52x 0.5x - - - - - 0.53x

Capital Intensity

        
CAPEX / Current Assets (%) 2.52% 2.52% 3.06% 2.42% 2.75% 2.76% 2.74% 2.79%
CAPEX / EBITDA (%) 55.7% 44.09% 41.59% 28.87% 36.64% 40.35% 36.98% 37.24%
CAPEX / FCF (%) -297.61% 91.62% 42.76% 39.2% 75.46% 100.39% 95.56% 94.15%

Items per share

        
Cash flow per share 1 0.0896 0.2747 0.4651 0.5129 0.00402 0.3714 0.3413 0.3004
Change - 206.58% 69.31% 10.27% -99.22% 9,138.31% 91.89% 88.03%
Dividend per Share 1 0.141 0.1505 0.1767 - 0.2276 0.2238 0.2222 0.2155
Change - 6.74% 17.41% - - -1.66% 99.25% 97%
Book Value Per Share 1 0.8123 0.8412 0.8801 0.9956 1.065 1.13 1.175 1.224
Change - 3.56% 4.62% 13.12% 7% 6.09% 103.94% 104.21%
EPS 1 0.1481 0.1656 0.1944 0.3034 0.2986 0.2897 0.2918 0.3011
Change - 11.82% 17.39% 56.07% -1.58% -2.98% 100.74% 103.18%
Nbr of stocks (in thousands) 1,284,000 1,284,000 1,284,000 1,284,000 1,284,000 1,284,000 1,284,000 1,284,000
Announcement Date 2/13/20 2/26/21 2/16/22 2/17/23 2/20/24 - - -
1MYR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
3.590MYR
Average target price
3.654MYR
Spread / Average Target
+1.78%
Consensus

Annual profits - Rate of surprise