AXIS REAL ESTATE INVESTMENT TRUST |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.87 MYR | +0.54% |
|
-1.58% | +4.47% |
| 24/04 | Axis REIT Buys Industrial Complex, Open Storage Yard for MYR352 Million | MT |
| 24/04 | Axis REIT Posts Higher DPU for Q1 | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,475 | 2,928 | 3,171 | 2,937 | 3,128 | 3,268 | - | - |
| Enterprise Value (EV) 1 | 3,340 | 4,000 | 4,160 | 4,440 | 4,631 | 4,904 | 5,086 | 5,236 |
| P/E ratio | 10.7 x | 20.6 x | 14.1 x | 15.4 x | 14.3 x | 19.7 x | 17.4 x | 16.8 x |
| Yield | 4.61% | 4.31% | 4.89% | 5.45% | 4.83% | 4.79% | 5.43% | 5.66% |
| Capitalization / Revenue | 11.1 x | 12.6 x | 12.9 x | 10.3 x | 10.8 x | 10.7 x | 9.65 x | 9.29 x |
| EV / Revenue | 15 x | 17.2 x | 16.9 x | 15.6 x | 16.1 x | 16 x | 15 x | 14.9 x |
| EV / EBITDA | 19.5 x | 23.1 x | 22.9 x | 20.8 x | 22.2 x | 21.3 x | 19.7 x | 18.8 x |
| EV / FCF | 23.8 x | -39.1 x | -55.4 x | 26 x | 178 x | 33.1 x | 23.5 x | 21.5 x |
| FCF Yield | 4.19% | -2.56% | -1.81% | 3.85% | 0.56% | 3.02% | 4.25% | 4.65% |
| Price to Book | 1.22 x | 1.38 x | 1.25 x | 1.14 x | 1.11 x | 1.16 x | 1.16 x | 1.15 x |
| Nbr of stocks (in thousands) | 13,98,135 | 14,42,331 | 16,34,524 | 16,41,054 | 17,47,492 | 17,47,492 | - | - |
| Reference price 2 | 1.770 | 2.030 | 1.940 | 1.790 | 1.790 | 1.870 | 1.870 | 1.870 |
| Announcement Date | 20/01/20 | 20/01/21 | 20/01/22 | 19/01/23 | 23/01/24 | - | - | - |
1MYR in Million2MYR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 222.5 | 232.2 | 246.2 | 284.2 | 288.4 | 306.4 | 338.7 | 351.9 |
| EBITDA 1 | 171.5 | 173.2 | 181.7 | 213.4 | 208.8 | 230 | 257.6 | 278.3 |
| EBIT 1 | 171 | 172.6 | 181.1 | 212.8 | 208.3 | 237.8 | 262.5 | 268.4 |
| Operating Margin | 76.85% | 74.33% | 73.56% | 74.89% | 72.24% | 77.6% | 77.49% | 76.27% |
| Earnings before Tax (EBT) 1 | 213.5 | 142.6 | 204 | 191.8 | 221.6 | 162.9 | 184.1 | 194.4 |
| Net income 1 | 209.2 | 142.1 | 200.4 | 190.1 | 217.8 | 162.5 | 184.8 | 192.3 |
| Net margin | 94.05% | 61.17% | 81.38% | 66.89% | 75.51% | 53.04% | 54.57% | 54.64% |
| EPS 2 | 0.1661 | 0.0986 | 0.1380 | 0.1161 | 0.1250 | 0.0949 | 0.1075 | 0.1116 |
| Free Cash Flow 1 | 140.1 | -102.3 | -75.14 | 170.9 | 25.97 | 148 | 216.1 | 243.6 |
| FCF margin | 62.97% | -44.06% | -30.52% | 60.13% | 9% | 48.29% | 63.79% | 69.22% |
| FCF Conversion (EBITDA) | 81.67% | - | - | 80.06% | 12.44% | 64.33% | 83.91% | 87.54% |
| FCF Conversion (Net income) | 66.95% | - | - | 89.89% | 11.93% | 91.06% | 116.91% | 126.69% |
| Dividend per Share 2 | 0.0816 | 0.0875 | 0.0949 | 0.0975 | 0.0865 | 0.0897 | 0.1015 | 0.1059 |
| Announcement Date | 20/01/20 | 20/01/21 | 20/01/22 | 19/01/23 | 23/01/24 | - | - | - |
1MYR in Million2MYR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 Q2 | 2022 Q3 |
|---|---|---|
| Net sales 1 | - | 71.52 |
| EBITDA | - | - |
| EBIT 1 | - | 61.49 |
| Operating Margin | - | 85.99% |
| Earnings before Tax (EBT) | - | - |
| Net income | 46.79 | - |
| Net margin | - | - |
| EPS | 0.0286 | - |
| Dividend per Share | - | - |
| Announcement Date | 20/07/22 | 19/10/22 |
1MYR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 865 | 1,072 | 989 | 1,503 | 1,503 | 1,637 | 1,818 | 1,968 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.043 x | 6.19 x | 5.44 x | 7.04 x | 7.199 x | 7.114 x | 7.059 x | 7.073 x |
| Free Cash Flow 1 | 140 | -102 | -75.1 | 171 | 26 | 148 | 216 | 244 |
| ROE (net income / shareholders' equity) | 6.16% | 6.76% | 5.86% | 6.17% | 5.39% | 5.8% | 6.53% | 6.85% |
| ROA (Net income/ Total Assets) | 3.89% | 4.41% | 3.78% | 3.89% | 3.31% | 3.59% | 4.09% | 4.24% |
| Assets 1 | 5,383 | 3,225 | 5,301 | 4,891 | 6,575 | 4,531 | 4,521 | 4,532 |
| Book Value Per Share 2 | 1.450 | 1.470 | 1.550 | 1.570 | 1.620 | 1.610 | 1.620 | 1.620 |
| Cash Flow per Share 2 | 0.1100 | 0.1200 | 0.1300 | 0.1400 | 0.1100 | 0.1300 | 0.1700 | 0.1900 |
| Capex 1 | 19.1 | 271 | 266 | 57.3 | 173 | 173 | 35 | 35 |
| Capex / Sales | 8.6% | 116.55% | 108.13% | 20.15% | 59.9% | 56.45% | 10.33% | 9.95% |
| Announcement Date | 20/01/20 | 20/01/21 | 20/01/22 | 19/01/23 | 23/01/24 | - | - | - |
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
9
Last Close Price
1.87
MYR
Average target price
1.998
MYR
Spread / Average Target
+6.83%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +4.47% | 69Cr | |
| -5.63% | 61Cr | |
| -12.24% | 58Cr | |
| -1.02% | 42Cr | |
| -8.88% | 42Cr | |
| -14.67% | 35Cr | |
| -9.83% | 30Cr | |
| +2.27% | 24Cr | |
| +4.03% | 23Cr | |
| -18.79% | 19Cr |
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- Financials Axis Real Estate Investment Trust