Financials Sunway

Equities

SUNWAY

MYL5211OO007

Construction & Engineering

End-of-day quote BURSA MALAYSIA 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
3.47 MYR +1.76% Intraday chart for Sunway +4.20% +68.45%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 7,133 8,832 7,871 8,409 7,920 19,496 19,496 -
Enterprise Value (EV) 1 10,897 12,514 13,140 14,311 15,019 18,589 26,625 27,193
P/E ratio 11 x 12.3 x 22.2 x 3.83 x 15.5 x 18.3 x 25.3 x 22.9 x
Yield 3.7% 4.17% 0.93% 1.45% 2.16% 2.67% 1.77% 1.88%
Capitalization / Revenue 1.32 x 1.85 x 2.05 x 2.26 x 1.52 x 1.83 x 3 x 2.84 x
EV / Revenue 2.01 x 2.62 x 3.43 x 3.85 x 2.89 x 3.03 x 4.1 x 3.96 x
EV / EBITDA 15.5 x 15.6 x 27.7 x 26.3 x 21 x 22.2 x 31.4 x 28.9 x
EV / FCF 35.5 x 21.5 x 164 x 88.1 x - 65.8 x 21.3 x 65.1 x
FCF Yield 2.82% 4.64% 0.61% 1.13% - 1.52% 4.69% 1.54%
Price to Book 0.86 x 0.93 x 0.83 x 0.84 x 0.76 x 0.96 x 1.37 x 1.31 x
Nbr of stocks (in thousands) 4,852,193 4,906,569 4,888,927 4,889,070 4,889,075 5,618,447 5,618,447 -
Reference price 2 1.470 1.800 1.610 1.720 1.620 3.470 3.470 3.470
Announcement Date 2/28/19 2/25/20 3/31/21 2/25/22 2/23/23 2/21/24 - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 5,410 4,780 3,833 3,714 5,195 6,140 6,494 6,875
EBITDA 1 703.1 800.3 474.7 543.4 713.6 838.3 848.5 941.7
EBIT 1 559.9 565.2 250.8 327.1 618.5 696.9 749.9 830.4
Operating Margin 10.35% 11.82% 6.54% 8.81% 11.9% 11.35% 11.55% 12.08%
Earnings before Tax (EBT) 1 850.6 914.2 509.3 465.7 919.8 993.2 1,090 1,201
Net income 1 659 766.6 359.6 2,665 676.7 737.8 790.8 863.1
Net margin 12.18% 16.04% 9.38% 71.76% 13.03% 12.02% 12.18% 12.56%
EPS 2 0.1339 0.1461 0.0725 0.4491 0.1043 0.1124 0.1372 0.1512
Free Cash Flow 1 307.2 580.7 80.04 162.4 - 282.7 1,250 417.9
FCF margin 5.68% 12.15% 2.09% 4.37% - 4.6% 19.25% 6.08%
FCF Conversion (EBITDA) 43.69% 72.56% 16.86% 29.88% - 33.72% 147.31% 44.38%
FCF Conversion (Net income) 46.61% 75.75% 22.26% 6.09% - 38.31% 158.06% 48.42%
Dividend per Share 2 0.0545 0.0750 0.0150 0.0250 0.0350 0.0550 0.0613 0.0653
Announcement Date 2/28/19 2/25/20 3/31/21 2/25/22 2/23/23 2/21/24 - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q3
Net sales -
EBITDA -
EBIT -
Operating Margin -
Earnings before Tax (EBT) -
Net income 1 180.3
Net margin -
EPS 2 0.0251
Dividend per Share -
Announcement Date 11/22/23
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 3,764 3,682 5,269 5,901 7,099 7,350 7,129 7,697
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.353 x 4.601 x 11.1 x 10.86 x 9.948 x 8.768 x 8.402 x 8.174 x
Free Cash Flow 1 307 581 80 162 - 283 1,250 418
ROE (net income / shareholders' equity) 8.04% 8.56% 4.01% 2.73% 5.51% 5.59% 5.48% 5.93%
ROA (Net income/ Total Assets) 3.24% 3.38% 1.69% 1.28% 2.65% 2.7% 2.73% 2.94%
Assets 1 20,329 22,669 21,307 209,028 25,571 27,338 28,938 29,386
Book Value Per Share 2 1.700 1.930 1.950 2.050 2.140 2.150 2.530 2.640
Cash Flow per Share 2 0.1600 0.1900 0.1700 0.1800 0.0700 0.0600 0.2200 0.1400
Capex 1 487 336 748 876 - 108 320 281
Capex / Sales 9% 7.03% 19.51% 23.59% - 1.75% 4.93% 4.09%
Announcement Date 2/28/19 2/25/20 3/31/21 2/25/22 2/23/23 2/21/24 - -
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
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
3.47 MYR
Average target price
3.33 MYR
Spread / Average Target
-4.03%
Consensus

Annual profits - Rate of surprise