Company Valuation: Minho (M)

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 119.2 110.6 114.2 108.8 103.5 99.88
Change - -7.22% 3.23% -4.69% -4.92% -3.45%
Enterprise Value (EV) 1 106.3 68.77 83.02 85.03 82.45 70.47
Change - -35.27% 20.72% 2.42% -3.04% -14.53%
P/E 57.4x 14.4x 15.2x 19.9x 18.4x 18.2x
PBR 0.32x 0.29x 0.29x 0.27x 0.26x 0.25x
PEG - 0x -5.48x -0.7x 5.63x -7.06x
Capitalization / Revenue 0.59x 0.5x 0.5x 0.56x 0.55x 0.56x
EV / Revenue 0.53x 0.31x 0.37x 0.44x 0.44x 0.4x
EV / EBITDA 9.73x 4.3x 3.48x 4.5x 5.54x 4.43x
EV / EBIT 18.4x 6.24x 4.43x 6.04x 10x 8.86x
EV / FCF 2.85x 3.19x 4.62x 14.2x 9.62x 3.55x
FCF Yield 35.1% 31.4% 21.7% 7.02% 10.4% 28.2%
Dividend per Share 2 - - - - - 0.0085
Rate of return - - - - - 3.04%
EPS 2 0.0061 0.0216 0.021 0.0153 0.0158 0.0154
Distribution rate - - - - - 55.2%
Net sales 1 201.6 222.3 227.4 193.4 188.1 177.9
EBITDA 1 10.92 15.99 23.87 18.91 14.88 15.9
EBIT 1 5.788 11.03 18.74 14.07 8.21 7.956
Net income 1 3.109 7.707 11.27 7.666 5.735 5.491
Net Debt 1 -12.94 -41.81 -31.13 -23.77 -21 -29.41
Reference price 2 0.3500 0.3100 0.3200 0.3050 0.2900 0.2800
Nbr of stocks (in thousands) 3,40,538 3,56,724 3,56,724 3,56,724 3,56,724 3,56,724
Announcement Date 21/04/21 04/04/22 28/04/23 30/04/24 30/04/25 30/04/26
1MYR in Million2MYR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 2.27Cr
35.33x4.77x17.24x2.57% 836.66Cr
-16.42x0.99x26.67x1.94% 520.57Cr
64.62x1.91x17.37x1.81% 455.2Cr
17.37x0.58x7.24x - 424.61Cr
13.19x1.37x8.25x2.07% 251.22Cr
35.26x2.53x18.87x0.22% 154.31Cr
12.79x - - - 146.85Cr
Average 23.16x 2.03x 15.94x 1.72% 348.96Cr
Weighted average by Cap. 24.54x 2.41x 16.75x 2.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA