Company Valuation: Gamuda

Data adjusted to current consolidation scope
Fiscal Period: July 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,038 9,577 11,450 21,814 29,995 26,906 - -
Change - 36.08% 19.55% 90.52% 37.5% -10.3% - -
Enterprise Value (EV) 1 8,728 10,775 14,196 26,259 36,416 34,546 35,352 35,542
Change - 23.46% 31.75% 84.97% 38.68% -5.14% 2.33% 0.54%
P/E 12x 11.8x 6.33x 24.5x 30.2x 25.3x 20.1x 15.5x
PBR 0.77x 0.97x 1.06x 1.92x 2.5x 2.1x 1.98x 1.84x
PEG - 0.3x 0x -0.5x 4.43x 6.19x 0.8x 0.5x
Capitalization / Revenue 2x 1.86x 1.38x 1.63x 1.88x 1.55x 1.25x 1x
EV / Revenue 2.48x 2.09x 1.71x 1.97x 2.28x 1.99x 1.64x 1.32x
EV / EBITDA 10.8x 11x 13.2x 23.7x 23.7x 21.4x 17.4x 14x
EV / EBIT 14.9x 14.6x 14.9x 27.8x 27.2x 24.1x 19.6x 16x
EV / FCF 10.6x -137x -11x -171x -382x 24.8x -43.9x 45.2x
FCF Yield 9.44% -0.73% -9.08% -0.58% -0.26% 4.03% -2.28% 2.21%
Dividend per Share 2 - 0.06 0.25 0.08 0.2 0.0949 0.1029 0.1272
Rate of return - 3.2% 11.6% 2.04% 3.86% 2.11% 2.28% 2.82%
EPS 2 0.117 0.1586 0.3398 0.1606 0.1715 0.1785 0.2243 0.2901
Distribution rate - 37.8% 73.6% 49.8% 117% 53.2% 45.9% 43.8%
Net sales 1 3,517 5,163 8,281 13,347 15,970 17,320 21,513 26,879
EBITDA 1 811.3 978 1,073 1,108 1,536 1,613 2,033 2,532
EBIT 1 586.1 737.1 953.9 945.2 1,337 1,433 1,802 2,228
Net income 1 588.3 806.2 1,838 912.1 1,003 1,044 1,344 1,742
Net Debt 1 1,690 1,198 2,746 4,445 6,422 7,641 8,446 8,636
Reference price 2 1.400 1.875 2.150 3.930 5.180 4.510 4.510 4.510
Nbr of stocks (in thousands) 50,27,057 51,07,862 53,25,472 55,50,607 57,90,500 59,65,768 - -
Announcement Date 29/09/21 29/09/22 27/09/23 26/09/24 19/09/25 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.26x1.99x21.42x2.11% 668.28Cr
52.61x2.41x23.03x0.07% 9.06TCr
12.58x1.07x5.88x4.65% 7.35TCr
27.06x2.07x20.34x1.12% 5.82TCr
31.27x3.92x21.26x0.22% 5.34TCr
52.3x4.2x26.71x1.7% 4.24TCr
29.64x0.73x12.09x2.09% 3.72TCr
24.15x0.49x7.79x2.44% 3.33TCr
22.6x1.54x14.21x0.2% 3.26TCr
5.54x0.33x5.1x5.2% 2.74TCr
Average 28.30x 1.88x 15.78x 1.98% 4.55TCr
Weighted average by Cap. 31.01x 2.02x 16.31x 1.8%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield