MINHO (M) |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.315 MYR | +5.00% |
|
+3.28% | +3.28% |
| Apr. 12 | Minho (M) Completes Dissolution of Subsidiary | MT |
| Feb. 29 | Minho (M) Berhad Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 93.65 | 112.4 | 119.2 | 110.6 | 114.2 | 108.8 |
| Enterprise Value (EV) 1 | 121.6 | 135.1 | 106.3 | 68.77 | 83.02 | 85.03 |
| P/E ratio | 11.6 x | 70.2 x | 57.4 x | 14.4 x | 15.2 x | 19.9 x |
| Yield | - | 3.48% | - | - | - | - |
| Capitalization / Revenue | 0.35 x | 0.44 x | 0.59 x | 0.5 x | 0.5 x | 0.56 x |
| EV / Revenue | 0.45 x | 0.52 x | 0.53 x | 0.31 x | 0.37 x | 0.44 x |
| EV / EBITDA | 4.32 x | 8.98 x | 9.73 x | 4.3 x | 3.48 x | 4.5 x |
| EV / FCF | -5.02 x | 4.05 x | 2.85 x | 3.19 x | 4.62 x | 14.2 x |
| FCF Yield | -19.9% | 24.7% | 35.1% | 31.4% | 21.7% | 7.02% |
| Price to Book | 0.25 x | 0.3 x | 0.32 x | 0.29 x | 0.29 x | 0.27 x |
| Nbr of stocks (in thousands) | 340,538 | 340,538 | 340,538 | 356,724 | 356,724 | 356,724 |
| Reference price 2 | 0.2750 | 0.3300 | 0.3500 | 0.3100 | 0.3200 | 0.3050 |
| Announcement Date | 4/1/19 | 5/22/20 | 4/21/21 | 4/4/22 | 4/28/23 | 4/30/24 |
1MYR in Million2MYR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 269 | 258.2 | 201.6 | 222.3 | 227.4 | 193.4 |
| EBITDA 1 | 28.12 | 15.04 | 10.92 | 15.99 | 23.87 | 18.91 |
| EBIT 1 | 20.78 | 9.339 | 5.788 | 11.03 | 18.74 | 14.07 |
| Operating Margin | 7.73% | 3.62% | 2.87% | 4.96% | 8.24% | 7.28% |
| Earnings before Tax (EBT) 1 | 20 | 7.913 | 5.299 | 12.6 | 19.58 | 14.9 |
| Net income 1 | 12.12 | 2.41 | 3.109 | 7.707 | 11.27 | 7.666 |
| Net margin | 4.51% | 0.93% | 1.54% | 3.47% | 4.96% | 3.96% |
| EPS 2 | 0.0237 | 0.004700 | 0.006100 | 0.0216 | 0.0210 | 0.0153 |
| Free Cash Flow 1 | -24.24 | 33.39 | 37.34 | 21.59 | 17.98 | 5.968 |
| FCF margin | -9.01% | 12.93% | 18.52% | 9.71% | 7.91% | 3.09% |
| FCF Conversion (EBITDA) | - | 222% | 341.78% | 135.05% | 75.31% | 31.56% |
| FCF Conversion (Net income) | - | 1,385.51% | 1,200.98% | 280.14% | 159.56% | 77.85% |
| Dividend per Share | - | 0.0115 | - | - | - | - |
| Announcement Date | 4/1/19 | 5/22/20 | 4/21/21 | 4/4/22 | 4/28/23 | 4/30/24 |
1MYR in Million2MYR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 28 | 22.7 | - | - | - | - |
| Net Cash position 1 | - | - | 12.9 | 41.8 | 31.1 | 23.8 |
| Leverage (Debt/EBITDA) | 0.9946 x | 1.509 x | - | - | - | - |
| Free Cash Flow 1 | -24.2 | 33.4 | 37.3 | 21.6 | 18 | 5.97 |
| ROE (net income / shareholders' equity) | 3.61% | 0.88% | 1% | 2.26% | 2.61% | 1.75% |
| ROA (Net income/ Total Assets) | 2.61% | 1.14% | 0.72% | 1.4% | 2.36% | 1.73% |
| Assets 1 | 463.9 | 211.7 | 432.3 | 552.2 | 476.9 | 442.9 |
| Book Value Per Share 2 | 1.100 | 1.090 | 1.100 | 1.090 | 1.110 | 1.120 |
| Cash Flow per Share 2 | 0.0500 | 0.0500 | 0.0600 | 0.0900 | 0.0600 | 0.0900 |
| Capex 1 | 25.5 | 1.03 | 1.17 | 2.45 | 8.1 | 9.7 |
| Capex / Sales | 9.47% | 0.4% | 0.58% | 1.1% | 3.56% | 5.02% |
| Announcement Date | 4/1/19 | 5/22/20 | 4/21/21 | 4/4/22 | 4/28/23 | 4/30/24 |
1MYR in Million2MYR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +3.28% | 22.73M | |
| -32.30% | 257M |
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