Financials RCE Capital

Equities

RCECAP

MYL9296OO004

Consumer Lending

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
2.77 ^MYR	-1.07%		+4.53%	-9.48%

Feb. 09	RCE Capital's Profit Drops Marginally in Fiscal Q3	MT
Feb. 08	RCE Capital Berhad Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	557.4	525.2	936.1	1,354	1,334	2,030	-	-
Enterprise Value (EV) ¹	557.4	525.2	936.1	1,354	1,334	2,030	2,030	2,030
P/E ratio	5.83 x	4.7 x	7.43 x	10.2 x	9.66 x	14.2 x	13.5 x	12.8 x
Yield	5.52%	7.38%	5%	4.15%	6.59%	5.17%	5.54%	5.78%
Capitalization / Revenue	2.79 x	2.37 x	4.03 x	5.66 x	5.1 x	7.28 x	6.89 x	6.6 x
EV / Revenue	2.79 x	2.37 x	4.03 x	5.66 x	5.1 x	7.28 x	6.89 x	6.6 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.95 x	0.78 x	1.21 x	1.55 x	1.66 x	2.38 x	2.31 x	2.19 x
Nbr of stocks (in thousands)	651,311	671,414	685,810	731,771	732,851	732,851	-	-
Reference price ²	0.8557	0.7822	1.365	1.850	1.820	2.770	2.770	2.770
Announcement Date	5/28/19	6/16/20	5/25/21	7/27/22	5/23/23	-	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Maart	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	200	221.3	232.1	239.4	261.4	278.7	294.4	307.4
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	154.8	172	182.8	188.8	212.6	221	233.5	243.4
Operating Margin	77.39%	77.72%	78.76%	78.86%	81.35%	79.29%	79.29%	79.17%
Earnings before Tax (EBT) ¹	131.1	148.9	167.2	177.2	183.9	191.5	202.6	211.4
Net income ¹	95.53	110.6	124.6	133.2	138.8	144.6	152.7	159.5
Net margin	47.76%	49.97%	53.7%	55.63%	53.1%	51.87%	51.87%	51.88%
EPS ²	0.1467	0.1665	0.1837	0.1819	0.1885	0.1947	0.2053	0.2163
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0472	0.0578	0.0682	0.0768	0.1200	0.1433	0.1533	0.1600
Announcement Date	5/28/19	6/16/20	5/25/21	7/27/22	5/23/23	-	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q2
Net sales ¹	87.82
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income ¹	38.25
Net margin	43.55%
EPS ²	0.0522
Dividend per Share	-
Announcement Date	11/22/23

¹MYR in Million²MYR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	17.3%	17.6%	17.2%	18.4%	16.5%	17.3%	17.4%	17.3%
ROA (Net income/ Total Assets)	4.68%	4.75%	5.06%	5.41%	4.89%	4.77%	4.83%	4.83%
Assets ¹	2,043	2,329	2,461	2,461	2,836	3,033	3,160	3,299
Book Value Per Share ²	0.9000	1.010	1.130	1.190	1.100	1.160	1.200	1.260
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	5/28/19	6/16/20	5/25/21	7/27/22	5/23/23	-	-	-

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 RCE Capital

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

2.77 MYR

Average target price

2.597 MYR

Spread / Average Target

-6.26%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Consumer Lending

	1st Jan change	Capi.
RCE CAPITAL	-9.48%	430M
BAJAJ FINANCE LIMITED	-5.52%	50.55B
BAJAJ FINSERV LTD.	-4.20%	30.74B
JIO FINANCIAL SERVICES LIMITED	+61.84%	28.97B
ORIX CORPORATION	+22.03%	23.48B
SYNCHRONY FINANCIAL	+15.48%	17.95B
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	-5.26%	11.79B
SHRIRAM FINANCE LIMITED	+24.19%	11.22B
MUTHOOT FINANCE LIMITED	+16.55%	8.17B
SOFI TECHNOLOGIES, INC.	-31.86%	7.44B

Other Consumer Lending