Financials GFM Services

Equities

GFM

MYQ0039OO006

Consumer Goods Conglomerates

End-of-day quote BURSA MALAYSIA 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
0.39 MYR +1.30% Intraday chart for GFM Services +11.43% +39.29%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 214.1 202.5 137 93.76 107.3 148.4
Enterprise Value (EV) 1 202.6 480.3 401.6 363.7 354.1 358.3
P/E ratio 21.5 x 25.1 x 23.8 x 10.5 x 10.5 x 6.78 x
Yield 1.84% 2.57% 0.61% 3.6% - 0.8%
Capitalization / Revenue 2.05 x 1.65 x 1.05 x 0.8 x 0.86 x 1.05 x
EV / Revenue 1.94 x 3.9 x 3.08 x 3.09 x 2.85 x 2.55 x
EV / EBITDA 12.1 x 26 x 10.2 x 8.66 x 8.62 x 6.98 x
EV / FCF 18.3 x -12.8 x 40.2 x 18.6 x 26.1 x 66.7 x
FCF Yield 5.48% -7.83% 2.49% 5.37% 3.83% 1.5%
Price to Book 3.3 x 2.3 x 1.3 x 0.82 x 0.86 x 0.91 x
Nbr of stocks (in thousands) 428,103 470,913 472,285 520,881 550,379 690,462
Reference price 2 0.5000 0.4300 0.2900 0.1800 0.1950 0.2150
Announcement Date 4/30/18 4/30/19 5/5/20 5/7/21 4/29/22 4/28/23
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 104.4 123.1 130.6 117.5 124.1 140.8
EBITDA 1 16.75 18.48 39.41 42.01 41.07 51.37
EBIT 1 15.19 16.59 37.48 39.86 38.61 48.87
Operating Margin 14.56% 13.48% 28.7% 33.92% 31.11% 34.71%
Earnings before Tax (EBT) 1 14.62 12.27 13.42 17.73 18.43 29.58
Net income 1 9.943 7.636 5.945 8.563 10.01 18.29
Net margin 9.53% 6.2% 4.55% 7.29% 8.06% 12.99%
EPS 2 0.0232 0.0171 0.0122 0.0172 0.0186 0.0317
Free Cash Flow 1 11.09 -37.59 9.983 19.53 13.56 5.37
FCF margin 10.63% -30.54% 7.64% 16.62% 10.93% 3.81%
FCF Conversion (EBITDA) 66.23% - 25.33% 46.49% 33.03% 10.45%
FCF Conversion (Net income) 111.55% - 167.94% 228.11% 135.51% 29.37%
Dividend per Share 2 0.009190 0.0110 0.001771 0.006473 - 0.001730
Announcement Date 4/30/18 4/30/19 5/5/20 5/7/21 4/29/22 4/28/23
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - 278 265 270 247 210
Net Cash position 1 11.5 - - - - -
Leverage (Debt/EBITDA) - 15.03 x 6.714 x 6.424 x 6.008 x 4.086 x
Free Cash Flow 1 11.1 -37.6 9.98 19.5 13.6 5.37
ROE (net income / shareholders' equity) 15.8% 9.99% 5.72% 8.04% 8.36% 12.7%
ROA (Net income/ Total Assets) 9.55% 3.31% 4.41% 4.81% 4.69% 5.86%
Assets 1 104.2 230.4 134.8 177.9 213.3 312
Book Value Per Share 2 0.1500 0.1900 0.2200 0.2200 0.2300 0.2400
Cash Flow per Share 2 0.0700 0.0800 0.0600 0.0500 0.0600 0.0700
Capex 1 0.35 1.22 3.15 0.3 0.5 0.5
Capex / Sales 0.34% 0.99% 2.41% 0.25% 0.4% 0.35%
Announcement Date 4/30/18 4/30/19 5/5/20 5/7/21 4/29/22 4/28/23
1MYR in Million2MYR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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