Financials Pentamaster Corporation

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
4.17 ^MYR	+0.24%		-2.11%	-9.35%

Feb. 22	Pentamaster Corporation Berhad Recommends Final Single-Tier Dividend for the Financial Year Ended 31 December 2023	CI
Feb. 22	Pentamaster Corporation Berhad Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	870.6	2,156	3,597	3,953	3,151	2,966	2,966	-
Enterprise Value (EV) ¹	549.7	1,736	3,162	3,477	2,730	2,781	2,430	2,257
P/E ratio	15.2 x	26 x	50.8 x	54.4 x	38.3 x	36.7 x	27 x	23.4 x
Yield	-	0.33%	0.3%	0.36%	0.45%	0.43%	0.56%	0.66%
Capitalization / Revenue	2.06 x	4.4 x	8.59 x	7.78 x	5.25 x	4.73 x	3.8 x	3.35 x
EV / Revenue	1.3 x	3.54 x	7.55 x	6.84 x	4.55 x	4.02 x	3.11 x	2.55 x
EV / EBITDA	5.22 x	12 x	25.8 x	26.7 x	18.9 x	17.5 x	13.1 x	10.5 x
EV / FCF	11.8 x	13.9 x	116 x	41 x	-310 x	24.5 x	66.6 x	18.1 x
FCF Yield	8.48%	7.18%	0.86%	2.44%	-0.32%	4.08%	1.5%	5.53%
Price to Book	2.44 x	4.93 x	7.11 x	6.99 x	5.03 x	4.68 x	3.74 x	3.29 x
Nbr of stocks (in thousands)	712,317	712,317	712,317	712,317	711,317	711,317	711,317	-
Reference price ²	1.222	3.027	5.050	5.550	4.430	4.170	4.170	4.170
Announcement Date	2/27/19	2/27/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	422.2	490.1	418.8	508.4	600.6	691.9	781.5	886.4
EBITDA ¹	105.4	144.4	122.6	130.3	144.5	159.1	185.5	215.6
EBIT ¹	99.86	139.8	114.5	121	133.8	141.4	169.9	200.3
Operating Margin	23.65%	28.53%	27.33%	23.81%	22.28%	20.43%	21.74%	22.6%
Earnings before Tax (EBT) ¹	-	138.9	113.1	119.5	132.1	141.4	177.1	203.4
Net income ¹	57.12	83.04	70.88	72.67	82.42	89.13	118.8	136.8
Net margin	13.53%	16.94%	16.93%	14.29%	13.72%	12.88%	15.2%	15.43%
EPS ²	0.0802	0.1166	0.0995	0.1020	0.1158	0.1253	0.1543	0.1783
Free Cash Flow ¹	46.64	124.6	27.14	84.85	-8.799	113.5	36.5	124.9
FCF margin	11.05%	25.43%	6.48%	16.69%	-1.47%	16.4%	4.67%	14.09%
FCF Conversion (EBITDA)	44.26%	86.31%	22.13%	65.1%	-	71.31%	19.68%	57.94%
FCF Conversion (Net income)	81.65%	150.07%	38.29%	116.76%	-	127.31%	30.73%	91.29%
Dividend per Share ²	-	0.0100	0.0150	0.0200	0.0200	0.0200	0.0234	0.0277
Announcement Date	2/27/19	2/27/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	321	420	435	476	421	491	536	709
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	46.6	125	27.1	84.9	-8.8	113	36.5	125
ROE (net income / shareholders' equity)	21.3%	21%	15%	13.5%	13.8%	13.4%	13.8%	14%
ROA (Net income/ Total Assets)	-	12%	9%	8%	7.69%	7.2%	10.3%	10.7%
Assets ¹	-	692	787.6	908.8	1,071	1,238	1,151	1,283
Book Value Per Share ²	0.5000	0.6100	0.7100	0.7900	0.8800	0.9800	1.110	1.270
Cash Flow per Share ²	0.1100	0.1900	0.1000	0.1700	0.0400	0.3000	0.2400	0.2600
Capex ¹	28.3	14.1	40.9	37.6	40.6	102	81.3	47.9
Capex / Sales	6.7%	2.87%	9.75%	7.39%	6.76%	14.81%	10.4%	5.4%
Announcement Date	2/27/19	2/27/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.17 MYR

Average target price

5.342 MYR

Spread / Average Target

+28.12%

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