Financials Malakoff Corporation

Equities

MALAKOF

MYL5264OO006

Independent Power Producers

End-of-day quote BURSA MALAYSIA 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
0.665 MYR -1.48% Intraday chart for Malakoff Corporation +0.76% +4.72%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,252 4,374 3,519 3,177 3,103 3,250 - -
Enterprise Value (EV) 1 11,419 10,829 11,796 9,440 8,900 8,137 7,185 6,223
P/E ratio 13.3 x 15.3 x 13.8 x 12.5 x -3.51 x 12.4 x 11.3 x 9.45 x
Yield 7.53% 5.7% 7.08% 8.08% - 6.23% 7.27% 7.91%
Capitalization / Revenue 0.58 x 0.7 x 0.54 x 0.31 x 0.34 x 0.36 x 0.37 x 0.39 x
EV / Revenue 1.57 x 1.73 x 1.83 x 0.91 x 0.98 x 0.9 x 0.83 x 0.74 x
EV / EBITDA 4.99 x 5.27 x 5.64 x 4.23 x 10.6 x 4.04 x 3.65 x 3.13 x
EV / FCF 5.3 x 6.56 x 7.46 x -39.2 x 7.09 x 4.91 x 4.87 x 4.11 x
FCF Yield 18.9% 15.3% 13.4% -2.55% 14.1% 20.4% 20.5% 24.3%
Price to Book 0.77 x 0.82 x 0.65 x 0.57 x 0.69 x 0.73 x 0.73 x 0.73 x
Nbr of stocks (in thousands) 4,886,961 4,886,961 4,886,961 4,886,961 4,886,961 4,886,961 - -
Reference price 2 0.8700 0.8950 0.7200 0.6500 0.6350 0.6650 0.6650 0.6650
Announcement Date 2/19/20 2/19/21 2/23/22 2/23/23 2/23/24 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,278 6,277 6,463 10,355 9,067 9,039 8,671 8,358
EBITDA 1 2,288 2,054 2,093 2,232 843.4 2,014 1,970 1,989
EBIT 1 1,107 844.4 849 983 -262.8 876.2 910.8 1,020
Operating Margin 15.21% 13.45% 13.14% 9.49% -2.9% 9.69% 10.5% 12.2%
Earnings before Tax (EBT) 1 530.9 444.6 469.6 736.8 -954.9 473.3 515.5 604.6
Net income 1 320.2 286.6 254.5 302.2 -837.2 272.1 294.3 349.4
Net margin 4.4% 4.57% 3.94% 2.92% -9.23% 3.01% 3.39% 4.18%
EPS 2 0.0655 0.0586 0.0521 0.0522 -0.1810 0.0536 0.0590 0.0704
Free Cash Flow 1 2,154 1,652 1,581 -241 1,256 1,656 1,475 1,514
FCF margin 29.6% 26.31% 24.47% -2.33% 13.85% 18.32% 17.01% 18.12%
FCF Conversion (EBITDA) 94.17% 80.39% 75.57% - 148.89% 82.23% 74.85% 76.13%
FCF Conversion (Net income) 672.9% 576.28% 621.23% - - 608.77% 501.14% 433.42%
Dividend per Share 2 0.0655 0.0510 0.0510 0.0525 - 0.0414 0.0483 0.0526
Announcement Date 2/19/20 2/19/21 2/23/22 2/23/23 2/23/24 - - -
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 7,167 6,455 8,277 6,264 5,797 4,887 3,935 2,973
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.133 x 3.142 x 3.955 x 2.807 x 6.873 x 2.426 x 1.997 x 1.494 x
Free Cash Flow 1 2,154 1,652 1,581 -241 1,256 1,656 1,475 1,515
ROE (net income / shareholders' equity) 5.02% 4.62% 4.76% 4.81% -16.6% 4.88% 5.23% 6.64%
ROA (Net income/ Total Assets) 1.15% 1.13% 1.08% 1.34% -3.96% 1.47% 1.58% 1.87%
Assets 1 27,772 25,363 23,633 22,531 21,132 18,552 18,684 18,720
Book Value Per Share 2 1.130 1.090 1.100 1.140 0.9200 0.9100 0.9200 0.9100
Cash Flow per Share - 0.4200 0.3600 - - - - -
Capex 1 270 403 166 298 293 309 309 351
Capex / Sales 3.71% 6.42% 2.56% 2.88% 3.23% 3.42% 3.56% 4.2%
Announcement Date 2/19/20 2/19/21 2/23/22 2/23/23 2/23/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
0.665 MYR
Average target price
0.701 MYR
Spread / Average Target
+5.41%
Consensus

Annual profits - Rate of surprise

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