SARAWAK OIL PALMS |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 3.01 MYR | -0.33% |
|
+0.33% | +16.22% |
| Apr. 18 | Sarawak Oil Palms' Related Party Transaction Value Variance Exceeds 10% | MT |
| Apr. 09 | Sarawak Oil Palms Berhad Reports Group Production Results for the Month of March 2024 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,199 | 2,341 | 2,284 | 1,995 | 2,314 | 2,680 | 2,680 | - |
| Enterprise Value (EV) 1 | 1,817 | 2,749 | 2,449 | 1,984 | 1,698 | 1,503 | 1,650 | 1,409 |
| P/E ratio | 19.6 x | 26.1 x | 11.3 x | 3.91 x | 4.77 x | 7.68 x | 8.22 x | 8.09 x |
| Yield | - | 1.22% | 1.5% | 1.15% | 3.85% | 2.81% | 2.6% | 2.51% |
| Capitalization / Revenue | 0.34 x | 0.8 x | 0.83 x | 0.45 x | 0.43 x | 0.45 x | 0.58 x | 0.61 x |
| EV / Revenue | 0.51 x | 0.94 x | 0.89 x | 0.45 x | 0.32 x | 0.29 x | 0.36 x | 0.32 x |
| EV / EBITDA | 6.17 x | 8.92 x | 5.01 x | 2.19 x | 2 x | 2.58 x | 2.93 x | 2.55 x |
| EV / FCF | 7.26 x | 8.46 x | 8.05 x | 6.47 x | 2.78 x | 7.3 x | 5.29 x | 4.27 x |
| FCF Yield | 13.8% | 11.8% | 12.4% | 15.5% | 36% | 13.7% | 18.9% | 23.4% |
| Price to Book | 0.56 x | 1.06 x | 0.96 x | 0.71 x | 0.7 x | 0.66 x | 0.72 x | 0.67 x |
| Nbr of stocks (in thousands) | 856,311 | 856,312 | 856,683 | 857,541 | 890,164 | 890,351 | 890,351 | - |
| Reference price 2 | 1.400 | 2.733 | 2.667 | 2.327 | 2.600 | 3.010 | 3.010 | 3.010 |
| Announcement Date | 2/27/19 | 2/28/20 | 2/25/21 | 2/24/22 | 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 | 3,533 | 2,915 | 2,759 | 4,433 | 5,365 | 5,124 | 4,605 | 4,391 |
| EBITDA 1 | 294.5 | 308.3 | 488.9 | 907.5 | 847.9 | 583.6 | 564 | 551.5 |
| EBIT 1 | 149.7 | 158.4 | 335.2 | 732.4 | 674.4 | 404 | 401 | 362.6 |
| Operating Margin | 4.24% | 5.43% | 12.15% | 16.52% | 12.57% | 7.88% | 8.71% | 8.26% |
| Earnings before Tax (EBT) 1 | 107.1 | 127.2 | 300.3 | 714.1 | 669.5 | 421.6 | 414.1 | 388.5 |
| Net income 1 | 61.3 | 89.81 | 202.2 | 511.2 | 480.4 | 300.4 | 325.6 | 331.1 |
| Net margin | 1.74% | 3.08% | 7.33% | 11.53% | 8.95% | 5.86% | 7.07% | 7.54% |
| EPS 2 | 0.0716 | 0.1049 | 0.2360 | 0.5947 | 0.5456 | 0.3372 | 0.3660 | 0.3720 |
| Free Cash Flow 1 | 250.3 | 324.9 | 304.4 | 306.7 | 610.9 | 206 | 312 | 330.2 |
| FCF margin | 7.08% | 11.14% | 11.03% | 6.92% | 11.39% | 4.02% | 6.77% | 7.52% |
| FCF Conversion (EBITDA) | 84.97% | 105.37% | 62.26% | 33.8% | 72.05% | 35.29% | 55.32% | 59.87% |
| FCF Conversion (Net income) | 408.26% | 361.76% | 150.53% | 60% | 127.15% | 68.55% | 95.83% | 99.73% |
| Dividend per Share 2 | - | 0.0333 | 0.0400 | 0.0267 | 0.1000 | 0.0845 | 0.0782 | 0.0755 |
| Announcement Date | 2/27/19 | 2/28/20 | 2/25/21 | 2/24/22 | 2/28/23 | 2/29/24 | - | - |
1MYR in Million2MYR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 Q1 | 2022 Q2 |
|---|---|---|
| Net sales 1 | - | 1,399 |
| EBITDA | - | - |
| EBIT | - | - |
| Operating Margin | - | - |
| Earnings before Tax (EBT) | - | - |
| Net income | 195 | - |
| Net margin | - | - |
| EPS | 0.2249 | - |
| Dividend per Share | - | - |
| Announcement Date | 5/23/22 | 8/26/22 |
1MYR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 618 | 408 | 165 | - | - | - | - | - |
| Net Cash position 1 | - | - | - | 11.1 | 616 | 803 | 1,030 | 1,271 |
| Leverage (Debt/EBITDA) | 2.097 x | 1.325 x | 0.3369 x | - | - | - | - | - |
| Free Cash Flow 1 | 250 | 325 | 304 | 307 | 611 | 206 | 312 | 330 |
| ROE (net income / shareholders' equity) | 2.89% | 4.13% | 8.83% | 19.7% | 15.8% | 8.83% | 7.6% | 7.25% |
| ROA (Net income/ Total Assets) | 1.46% | 2.16% | 4.79% | 11.5% | 10.1% | 5.95% | 4.9% | 4.9% |
| Assets 1 | 4,205 | 4,153 | 4,220 | 4,461 | 4,773 | 5,054 | 6,644 | 6,757 |
| Book Value Per Share 2 | 2.500 | 2.570 | 2.770 | 3.270 | 3.700 | 3.950 | 4.190 | 4.500 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 143 | 126 | 105 | 155 | 129 | 152 | 171 | 178 |
| Capex / Sales | 4.04% | 4.31% | 3.81% | 3.49% | 2.41% | 2.96% | 3.71% | 4.05% |
| Announcement Date | 2/27/19 | 2/28/20 | 2/25/21 | 2/24/22 | 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
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
3.01
MYR
Average target price
3.03
MYR
Spread / Average Target
+0.66%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +16.22% | 562M | |
| +12.78% | 3.29B | |
| -95.58% | 1.61B | |
| -0.48% | 1.61B | |
| -1.58% | 1.25B | |
| -2.40% | 1.22B | |
| -.--% | 1.22B | |
| -11.54% | 1.21B | |
| -10.44% | 1.2B | |
| 0.00% | 1.19B |
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