Financials Malaysia Building Society

Equities

MBSB

MYL1171OO007

Banks

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
0.78 ^MYR	-0.64%		+1.96%	+9.86%

Apr. 18	Malaysia Building Society Berhad Recommends Single-Tier Final Dividend for the Financial Year Ended 31 December 2023	CI
Feb. 27	Malaysia Building Society Berhad Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	5,878	5,572	4,708	3,837	4,410	6,413	6,413	-
Enterprise Value (EV) ¹	5,878	5,572	4,708	3,837	4,410	5,838	6,413	6,413
P/E ratio	8.91 x	7.57 x	17.1 x	8.6 x	9.58 x	10.7 x	22.9 x	12.4 x
Yield	5.43%	-	-	5.61%	13.8%	1.92%	2.56%	4.49%
Capitalization / Revenue	4.27 x	3.94 x	5.44 x	2.32 x	3 x	4.15 x	5.3 x	4.03 x
EV / Revenue	4.27 x	3.94 x	5.44 x	2.32 x	3 x	4.15 x	5.3 x	4.03 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.75 x	0.63 x	0.53 x	0.44 x	0.49 x	0.7 x	0.56 x	0.55 x
Nbr of stocks (in thousands)	6,389,101	6,713,402	6,975,389	7,171,484	7,171,484	8,222,312	8,222,312	-
Reference price ²	0.9200	0.8300	0.6750	0.5350	0.6150	0.7800	0.7800	0.7800
Announcement Date	2/28/19	2/28/20	2/25/21	2/24/22	2/23/23	2/27/24	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	1,376	1,413	865.5	1,654	1,469	1,408	1,209	1,592
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	969.4	1,012	1,048	1,112	818.8	696.3	486	851
Operating Margin	70.47%	71.63%	121.1%	67.21%	55.73%	49.45%	40.2%	53.45%
Earnings before Tax (EBT) ¹	853.6	897.4	427.6	714.1	691.3	559.7	324	590
Net income ¹	642.4	716.9	269.3	438.7	460.2	491.8	246	449
Net margin	46.7%	50.75%	31.12%	26.52%	31.32%	34.93%	20.35%	28.2%
EPS ²	0.1032	0.1097	0.0395	0.0622	0.0642	0.0662	0.0340	0.0630
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0500	-	-	0.0300	0.0850	0.0150	0.0200	0.0350
Announcement Date	2/28/19	2/28/20	2/25/21	2/24/22	2/23/23	2/27/24	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2022 Q2
Net sales	-	-
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income ¹	-104.6	142.3
Net margin	-	-
EPS ²	-1.490	0.0198
Dividend per Share	-	-
Announcement Date	11/29/21	8/25/22

¹MYR in Million²MYR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	8.62%	8.76%	3.09%	5%	5.22%	2.8%	2.5%	4.5%
ROA (Net income/ Total Assets)	-	-	-	-	0.87%	0.4%	0.4%	0.6%
Assets ¹	-	-	-	-	52,816	62,575	61,500	74,833
Book Value Per Share ²	1.220	1.310	1.270	1.210	1.250	1.110	1.390	1.410
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	2/28/19	2/28/20	2/25/21	2/24/22	2/23/23	2/27/24	-	-

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 Malaysia Building Society

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

SELL

Number of Analysts

Last Close Price

0.78 MYR

Average target price

0.59 MYR

Spread / Average Target

-24.36%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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	1st Jan change	Capi.
MALAYSIA BUILDING SOCIETY	+9.86%	1.35B
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ANZ GROUP HOLDINGS LIMITED	+7.99%	54.82B
INDUSTRIAL BANK CO., LTD.	+1.36%	47.1B
CRÉDIT AGRICOLE S.A.	+13.25%	47B
CHINA CITIC BANK CO., LTD.	+19.29%	44.81B
JAPAN POST BANK CO., LTD.	+10.93%	36.6B
QATAR NATIONAL BANK (Q.P.S.C.)	-16.21%	35.14B
INVEST BANK	-96.60%	32.24B

Commercial Banks