Financials Star Media Group

Equities

STAR

MYL6084OO007

Consumer Publishing

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
0.425 ^MYR	+1.19%		+1.19%	-2.30%

Mar. 21	Star Media Group Berhad Proposes First and Final Single-Tier Dividend in Respect of the Financial Year Ended 31 December 2023, Payable on 12 June 2024	CI
Feb. 20	Star Media Group 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	505.4	357.9	253.7	228.3	217.4	308	308	-
Enterprise Value (EV) ¹	207	-6.746	-80.36	228.3	217.4	315.3	630.4	574.1
P/E ratio	96.5 x	63 x	-12.9 x	-1.73 x	31.6 x	42.2 x	55.4 x	32.7 x
Yield	4.38%	4.12%	-	-	-	0.86%	0.55%	0.63%
Capitalization / Revenue	1.29 x	1.13 x	1.29 x	1.22 x	1 x	1.43 x	1.36 x	1.32 x
EV / Revenue	1.29 x	1.13 x	1.29 x	1.22 x	1 x	1.43 x	1.36 x	1.32 x
EV / EBITDA	13.3 x	8.01 x	-18.2 x	-1.85 x	8.55 x	12.7 x	17.5 x	14.4 x
EV / FCF	-14,178,777 x	4,092,231 x	-21,056,477 x	-	-	-	17,402,565 x	93,341,015 x
FCF Yield	-0%	0%	-0%	-	-	-	0%	0%
Price to Book	0.61 x	0.44 x	0.33 x	0.36 x	0.33 x	0.48 x	0.57 x	0.6 x
Nbr of stocks (in thousands)	737,876	737,876	724,765	724,765	724,765	724,765	724,765	-
Reference price ²	0.6850	0.4850	0.3500	0.3150	0.3000	0.4250	0.4250	0.4250
Announcement Date	2/26/19	2/27/20	2/25/21	2/28/22	2/21/23	2/20/24	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	392.7	315.9	196.4	187.1	217	220	226.1	233.4
EBITDA ¹	37.98	44.7	-13.92	-123.1	25.42	24.9	17.63	21.42
EBIT ¹	10.86	15.85	-52.78	-26.18	9.652	9.098	4.1	5.3
Operating Margin	2.77%	5.02%	-26.87%	-13.99%	4.45%	4.14%	1.81%	2.27%
Earnings before Tax (EBT) ¹	8.973	14.64	-16.53	-149.5	8.75	8.261	7.467	10.63
Net income ¹	5.263	5.677	-19.72	-132.1	6.921	7.49	5.667	8.167
Net margin	1.34%	1.8%	-10.04%	-70.59%	3.19%	3.4%	2.51%	3.5%
EPS ²	0.007100	0.007700	-0.0271	-0.1822	0.009500	0.0103	0.007670	0.0130
Free Cash Flow	-35.65	87.45	-12.05	-	-	-	17.7	3.3
FCF margin	-9.08%	27.68%	-6.13%	-	-	-	7.83%	1.41%
FCF Conversion (EBITDA)	-	195.66%	-	-	-	-	100.38%	15.4%
FCF Conversion (Net income)	-	1,540.44%	-	-	-	-	312.35%	40.41%
Dividend per Share ²	0.0300	0.0200	-	-	-	0.003670	0.002330	0.002670
Announcement Date	2/26/19	2/27/20	2/25/21	2/28/22	2/21/23	2/20/24	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q2	2021 Q3	2023 Q1
Net sales ¹	-	-	51.99
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income	-37.85	-54.76	-
Net margin	-	-	-
EPS	-0.0522	-0.0756	-
Dividend per Share	-	-	-
Announcement Date	8/26/21	11/18/21	5/20/23

¹MYR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	322	266
Net Cash position	298	365	334	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	18.28 x	12.42 x
Free Cash Flow	-35.6	87.5	-12	-	-	-	17.7	3.3
ROE (net income / shareholders' equity)	0.62%	0.69%	-7.18%	-3.37%	1.07%	1.15%	0.5%	1.2%
ROA (Net income/ Total Assets)	0.5%	0.59%	-6.03%	-2.85%	0.9%	0.97%	-	0.4%
Assets ¹	1,049	960.1	326.9	4,642	769	774.6	-	2,042
Book Value Per Share ²	1.130	1.110	1.060	0.8800	0.9000	0.9000	0.7500	0.7100
Cash Flow per Share ²	-0.0400	0.1400	-0.0100	-0.0100	0.0300	0	0.0300	-
Capex	6.85	2.52	3.01	4.82	7.91	-	-	-
Capex / Sales	1.74%	0.8%	1.53%	2.58%	3.64%	-	-	-
Announcement Date	2/26/19	2/27/20	2/25/21	2/28/22	2/21/23	2/20/24	-	-

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 Star Media Group

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

SELL

Number of Analysts

Last Close Price

0.425 MYR

Average target price

0.3475 MYR

Spread / Average Target

-18.24%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Consumer Publishing

	1st Jan change	Capi.
STAR MEDIA GROUP	-2.30%	64.6M
PEARSON PLC	+2.36%	8.29B
SCHIBSTED ASA	+9.50%	6.43B
SAUDI RESEARCH AND MEDIA GROUP	+38.74%	5.07B
JIANGSU PHOENIX PUBLISHING & MEDIA CORPORATION LIMITED	+14.98%	3.56B
LAGARDÈRE S.A.	+8.71%	3B
CHINA SOUTH PUBLISHING & MEDIA GROUP CO., LTD	+21.44%	3.06B
KADOKAWA CORPORATION	-1.11%	2.42B
SOUTHERN PUBLISHING AND MEDIA CO.,LTD.	+7.85%	1.71B
TX GROUP AG	+17.55%	1.64B

Other Consumer Publishing