Financials Magnum

Equities

MAGNUM

MYL3859OO005

Casinos & Gaming

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
1.15 ^MYR	+1.77%		0.00%	+5.50%

Feb. 28	Magnum Berhad Declares Fourth Interim Dividend for the Current Financial Year Ended 31 December 2023, Payable on 22 March 2024	CI
Feb. 28	Magnum Berhad Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	2,775	3,657	3,277	2,731	1,854	1,653	1,653	-
Enterprise Value (EV) ¹	3,175	4,254	3,960	3,458	2,562	2,174	2,218	2,168
P/E ratio	26.5 x	15.3 x	31.9 x	19,000 x	18.4 x	12.5 x	10.5 x	10.4 x
Yield	7.69%	6.23%	3.75%	0.79%	3.88%	5.5%	6.52%	6.52%
Capitalization / Revenue	1.03 x	1.35 x	1.96 x	2.17 x	0.91 x	0.73 x	0.74 x	0.73 x
EV / Revenue	1.17 x	1.57 x	2.37 x	2.75 x	1.26 x	1.01 x	1 x	0.96 x
EV / EBITDA	8.52 x	10.5 x	20.2 x	41.4 x	11.9 x	8.97 x	8.72 x	8.38 x
EV / FCF	9.89 x	31.3 x	59.7 x	477 x	15.1 x	10.1 x	15.7 x	13 x
FCF Yield	10.1%	3.2%	1.68%	0.21%	6.62%	9.94%	6.35%	7.7%
Price to Book	1.17 x	1.48 x	1.36 x	1.16 x	0.78 x	0.64 x	0.67 x	0.66 x
Nbr of stocks (in thousands)	1,422,955	1,422,955	1,437,179	1,437,179	1,437,179	1,437,179	1,437,179	-
Reference price ²	1.950	2.570	2.280	1.900	1.290	1.150	1.150	1.150
Announcement Date	2/21/19	2/20/20	2/25/21	2/24/22	2/28/23	2/28/24	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	2,704	2,706	1,673	1,260	2,031	2,160	2,227	2,270
EBITDA ¹	372.5	405.3	196.3	83.56	215.5	242.5	254.4	258.8
EBIT ¹	363.7	393.8	191.9	71.83	205.7	232.8	254.8	259.2
Operating Margin	13.45%	14.56%	11.47%	5.7%	10.13%	10.78%	11.44%	11.42%
Earnings before Tax (EBT) ¹	313.3	343.2	144	25.24	159.9	188.4	229.4	233.3
Net income ¹	104.7	238.7	21.33	0.184	100.7	125.8	156.1	159.5
Net margin	3.87%	8.82%	1.28%	0.01%	4.96%	5.82%	7.01%	7.02%
EPS ²	0.0736	0.1678	0.0715	0.000100	0.0700	0.0875	0.1100	0.1107
Free Cash Flow ¹	321.1	136.1	66.39	7.251	169.7	216.2	140.9	167
FCF margin	11.88%	5.03%	3.97%	0.58%	8.35%	10.01%	6.33%	7.36%
FCF Conversion (EBITDA)	86.21%	33.59%	33.81%	8.68%	78.73%	89.16%	55.39%	64.53%
FCF Conversion (Net income)	306.58%	57.02%	311.17%	3,940.76%	168.55%	171.89%	90.26%	104.72%
Dividend per Share ²	0.1500	0.1600	0.0854	0.0150	0.0500	0.0600	0.0750	0.0750
Announcement Date	2/21/19	2/20/20	2/25/21	2/24/22	2/28/23	2/28/24	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2022 Q4
Net sales	-	-
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income ¹	20.07	37.54
Net margin	-	-
EPS	0.0139	-
Dividend per Share	-	-
Announcement Date	11/24/22	2/28/23

¹MYR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	400	597	683	728	708	608	565	515
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.073 x	1.473 x	3.48 x	8.706 x	3.285 x	2.506 x	2.222 x	1.991 x
Free Cash Flow ¹	321	136	66.4	7.25	170	216	141	167
ROE (net income / shareholders' equity)	4.32%	9.69%	0.88%	0.01%	4.24%	5.21%	6.37%	6.37%
ROA (Net income/ Total Assets)	2.91%	6.49%	0.59%	0.01%	2.87%	3.58%	4.9%	4.85%
Assets ¹	3,605	3,681	3,590	3,538	3,512	3,513	3,186	3,288
Book Value Per Share ²	1.670	1.740	1.680	1.640	1.660	1.700	1.720	1.750
Cash Flow per Share	0.2300	0.1100	0.0600	-	-	-	-	-
Capex ¹	12	19	14.6	4.57	7	13.6	15	15
Capex / Sales	0.44%	0.7%	0.87%	0.36%	0.34%	0.63%	0.67%	0.66%
Announcement Date	2/21/19	2/20/20	2/25/21	2/24/22	2/28/23	2/28/24	-	-

¹MYR in Million²MYR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Magnum

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.13 MYR

Average target price

1.313 MYR

Spread / Average Target

+16.22%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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