Financials Malaysia Airports Holdings

Equities

AIRPORT

MYL5014OO005

Airport Services

End-of-day quote BURSA MALAYSIA 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
10.2 MYR +3.13% Intraday chart for Malaysia Airports Holdings +3.34% +38.59%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 13,904 12,610 9,822 9,922 10,884 17,019 17,019 -
Enterprise Value (EV) 1 16,293 16,272 13,493 13,651 14,326 12,281 19,333 18,939
P/E ratio 19.1 x 26.3 x -8.37 x -12 x 83.9 x 25.2 x 23 x 19.5 x
Yield 1.67% 1.97% - - 0.6% 1.05% 2.09% 2.4%
Capitalization / Revenue 2.87 x 2.42 x 5.26 x 5.93 x 3.48 x 2.5 x 2.89 x 2.66 x
EV / Revenue 3.36 x 3.12 x 7.23 x 8.16 x 4.58 x 2.5 x 3.28 x 2.96 x
EV / EBITDA 6.84 x 7.1 x 624 x 62 x 12.1 x 5.37 x 7.37 x 6.78 x
EV / FCF 10.4 x 9.93 x -52.5 x 104 x 15.9 x 19 x 12.2 x 11.2 x
FCF Yield 9.61% 10.1% -1.9% 0.96% 6.28% 5.27% 8.22% 8.89%
Price to Book 1.52 x 1.35 x 1.21 x 1.37 x 1.46 x 2.21 x 2.25 x 2.09 x
Nbr of stocks (in thousands) 1,659,192 1,659,192 1,659,192 1,659,192 1,659,192 1,668,554 1,668,554 -
Reference price 2 8.380 7.600 5.920 5.980 6.560 10.20 10.20 10.20
Announcement Date 2/28/19 2/28/20 2/26/21 2/28/22 2/28/23 2/29/24 - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 4,852 5,213 1,866 1,673 3,127 4,914 5,893 6,390
EBITDA 1 2,384 2,292 21.62 220.2 1,186 2,286 2,622 2,793
EBIT 1 1,496 1,350 -588.1 -394.4 349.2 1,137 1,526 1,671
Operating Margin 30.83% 25.9% -31.51% -23.58% 11.17% 23.14% 25.89% 26.14%
Earnings before Tax (EBT) 1 780.6 659.2 -1,764 -1,041 184.6 506.1 971.6 1,153
Net income 1 727.3 537 -1,116 -766.4 187.2 543.2 736.7 878.9
Net margin 14.99% 10.3% -59.81% -45.81% 5.99% 11.05% 12.5% 13.75%
EPS 2 0.4383 0.2890 -0.7075 -0.4966 0.0782 0.2917 0.4434 0.5228
Free Cash Flow 1 1,566 1,639 -257 131.7 900 1,062 1,589 1,684
FCF margin 32.29% 31.44% -13.77% 7.87% 28.78% 22.28% 26.96% 26.35%
FCF Conversion (EBITDA) 65.72% 71.51% - 59.78% 75.86% 51.28% 60.59% 60.29%
FCF Conversion (Net income) 215.37% 305.18% - - 480.77% 270.12% 215.63% 191.58%
Dividend per Share 2 0.1400 0.1500 - - 0.0391 0.1068 0.2131 0.2444
Announcement Date 2/28/19 2/28/20 2/26/21 2/28/22 2/28/23 2/29/24 - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 323.4 461.3 551.3 570.8 689.8 863.6 1,003 1,034 1,232 1,372 1,533 1,563 1,502 1,533
EBITDA - - 166.8 - - - - - - - - - - -
EBIT -133.1 -75.06 -65.44 30.46 99.13 172.4 47.25 205.8 312.5 - 391.7 399.5 383.9 391.7
Operating Margin -41.16% -16.27% -11.87% 5.34% 14.37% 19.96% 4.71% 19.9% 25.36% - 25.56% 25.56% 25.56% 25.56%
Earnings before Tax (EBT) -290.5 -254.9 -215 - -91.09 -19.13 445.2 - - - 258.4 263.6 253.2 258.4
Net income - -182.3 -136.7 - -58.15 -9.035 359.1 - - - 187.2 190.9 183.4 187.2
Net margin - -39.52% -24.8% - -8.43% -1.05% 35.81% - - - 12.21% 12.21% 12.21% 12.21%
EPS -0.1449 -0.1186 -0.0911 - -0.0437 -0.0142 0.2077 - - - 0.1128 0.1151 0.1106 0.1128
Dividend per Share 2 - - - - - - 0.0391 - - 0.1327 - - - 0.3373
Announcement Date 8/23/21 11/29/21 2/28/22 5/30/22 8/25/22 11/29/22 2/28/23 5/30/23 8/24/23 2/29/24 - - - -
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 2,389 3,662 3,671 3,729 3,442 3,142 2,313 1,919
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.002 x 1.598 x 169.8 x 16.93 x 2.901 x 1.516 x 0.8824 x 0.6873 x
Free Cash Flow 1 1,566 1,639 -257 132 900 1,062 1,589 1,684
ROE (net income / shareholders' equity) 5.16% 5.82% -12.8% -9.98% 2.55% 5.89% 9.97% 11.3%
ROA (Net income/ Total Assets) 2.07% 2.42% -5.26% -3.79% 1% 2.5% 4.1% 4.77%
Assets 1 35,135 22,228 21,231 20,221 18,720 15,732 17,969 18,438
Book Value Per Share 2 5.510 5.620 4.880 4.370 4.480 4.620 4.540 4.870
Cash Flow per Share 2 1.220 1.280 -0.0400 0.1600 0.6300 0.9700 1.210 1.440
Capex 1 462 490 190 139 140 545 923 974
Capex / Sales 9.53% 9.4% 10.17% 8.33% 4.47% 11.42% 15.65% 15.25%
Announcement Date 2/28/19 2/28/20 2/26/21 2/28/22 2/28/23 2/29/24 - -
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
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
10.2 MYR
Average target price
9.883 MYR
Spread / Average Target
-3.11%
Consensus
  1. Stock Market
  2. Equities
  3. AIRPORT Stock
  4. Financials Malaysia Airports Holdings