Financials Malayan Cement

Equities

MCEMENT

MYL3794OO004

Construction Materials

End-of-day quote BURSA MALAYSIA 03:30:00 19/06/2024 am IST 5-day change 1st Jan Change
4.95 MYR 0.00% Intraday chart for Malayan Cement +1.02% +17.02%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,076 2,039 2,711 2,882 4,022 6,513 - -
Enterprise Value (EV) 1 3,076 2,956 3,417 2,882 4,022 6,513 6,513 6,513
P/E ratio -18.3 x -7.77 x 341 x 41.7 x 34.3 x 15.9 x 15 x 14.3 x
Yield - - - - - 2.12% 2.28% 2.48%
Capitalization / Revenue 1.6 x 0.85 x 1.98 x 1.07 x 1.07 x 1.45 x 1.4 x 1.34 x
EV / Revenue 1.6 x 0.85 x 1.98 x 1.07 x 1.07 x 1.45 x 1.4 x 1.34 x
EV / EBITDA - 117 x 14.6 x 5.64 x 5.6 x 5.83 x 5.62 x 5.42 x
EV / FCF -28.9 x -135 x 45.2 x 17 x 12.8 x 7.88 x 6.97 x 6.53 x
FCF Yield -3.46% -0.74% 2.21% 5.89% 7.79% 12.7% 14.4% 15.3%
Price to Book 1.29 x 0.89 x 1.07 x 0.5 x 0.68 x 1.01 x 0.95 x 0.91 x
Nbr of stocks (in thousands) 8,49,695 8,49,695 9,34,695 13,10,202 13,10,202 13,15,834 - -
Reference price 2 3.620 2.400 2.900 2.200 3.070 4.950 4.950 4.950
Announcement Date 20/02/20 28/08/20 08/09/21 25/08/22 31/10/23 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,923 2,407 1,370 2,705 3,757 4,479 4,653 4,854
EBITDA 1 - 17.44 185.3 511.4 718.8 1,116 1,160 1,202
EBIT 1 -173.2 -262.7 29.52 233.9 411.5 830.5 876.4 925
Operating Margin -9.01% -10.91% 2.16% 8.65% 10.95% 18.54% 18.83% 19.06%
Earnings before Tax (EBT) 1 -200.5 -318.9 8.202 129.2 253.1 690.2 726.4 775.2
Net income 1 -168.1 -262.9 7.31 83.54 159 457.3 481.1 514.1
Net margin -8.74% -10.92% 0.53% 3.09% 4.23% 10.21% 10.34% 10.59%
EPS 2 -0.1980 -0.3090 0.008500 0.0527 0.0895 0.3108 0.3300 0.3460
Free Cash Flow 1 -106.4 -15.12 59.95 169.7 313.4 827 935 998
FCF margin -5.53% -0.63% 4.38% 6.27% 8.34% 18.47% 20.09% 20.56%
FCF Conversion (EBITDA) - - 32.35% 33.19% 43.59% 74.08% 80.61% 83.02%
FCF Conversion (Net income) - - 820.05% 203.14% 197.04% 180.83% 194.35% 194.14%
Dividend per Share 2 - - - - - 0.1050 0.1128 0.1230
Announcement Date 20/02/20 28/08/20 08/09/21 25/08/22 31/10/23 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2022 Q2 2023 Q2
Net sales - -
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 1 54.92 15.26
Net margin - -
EPS 2 0.0309 0.008600
Dividend per Share - -
Announcement Date 24/02/22 23/02/23
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - 917 707 - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - 52.6 x 3.814 x - - - - -
Free Cash Flow 1 -106 -15.1 59.9 170 313 827 935 998
ROE (net income / shareholders' equity) -6.83% -10.9% 0.3% 2.01% 2.71% 7.4% 7.47% 7.77%
ROA (Net income/ Total Assets) -3.96% -6.46% 0.23% 1.18% 1.47% 5.48% 5.73% 5.85%
Assets 1 4,244 4,067 3,225 7,094 10,828 8,346 8,403 8,787
Book Value Per Share 2 2.800 2.690 2.710 4.410 4.540 4.890 5.180 5.470
Cash Flow per Share - 0.1100 0 - - - - -
Capex 1 - 107 54.8 77 105 97.7 137 138
Capex / Sales - 4.45% 4% 2.85% 2.79% 2.18% 2.94% 2.84%
Announcement Date 20/02/20 28/08/20 08/09/21 25/08/22 31/10/23 - - -
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
4.95 MYR
Average target price
6.522 MYR
Spread / Average Target
+31.75%
Consensus

Annual profits - Rate of surprise

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