Company Valuation: Tashin Holdings

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 144.8 176.2 132.6 129.1 111.7 78.52
Change - 21.69% -24.75% -2.63% -13.51% -29.69%
Enterprise Value (EV) 1 127.6 154.2 149.9 145.5 163.9 90.09
Change - 20.82% -2.77% -2.91% 12.61% -45.04%
P/E 15.6x 2.81x 10.1x 20.9x -102x 23.7x
PBR 0.73x 0.69x 0.51x 0.5x 0.41x 0.29x
PEG - 0x -0.1x -0.4x 1x -0x
Capitalization / Revenue 0.61x 0.45x 0.31x 0.36x 0.3x 0.23x
EV / Revenue 0.53x 0.4x 0.35x 0.4x 0.44x 0.26x
EV / EBITDA 9.33x 1.76x 6.42x 9.54x 31.8x 11.4x
EV / EBIT 11.9x 1.83x 7.6x 12.9x 178x 28x
EV / FCF 9.96x 44.7x -5.03x 26.1x -5.5x 2.33x
FCF Yield 10% 2.24% -19.9% 3.83% -18.2% 43%
Dividend per Share 2 0.005 0.05 0.02 0.015 - 0.005
Rate of return 1.2% 9.9% 5.26% 4.05% - 2.22%
EPS 2 0.0266 0.1794 0.0376 0.0177 -0.003142 0.009483
Distribution rate 18.8% 27.9% 53.2% 84.9% - 52.7%
Net sales 1 239.1 388.7 434.3 362.5 372.8 344.6
EBITDA 1 13.68 87.52 23.35 15.25 5.148 7.88
EBIT 1 10.69 84.29 19.73 11.24 0.9194 3.22
Net income 1 9.268 62.62 13.12 6.166 -1.097 3.31
Net Debt 1 -17.22 -22.06 17.3 16.42 52.23 11.57
Reference price 2 0.4150 0.5050 0.3800 0.3700 0.3200 0.2250
Nbr of stocks (in thousands) 3,48,991 3,48,991 3,48,991 3,48,991 3,48,991 3,48,991
Announcement Date 30/04/21 29/04/22 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.($)
- - - - 1.75Cr
8.35x1.77x4.58x7.61% 5.74TCr
12.72x1.4x7.27x0.96% 5.3TCr
15.34x0.87x7.1x0.93% 5.08TCr
14.03x2.37x5.31x4.39% 3.52TCr
20.49x1.8x9.95x0.56% 3.19TCr
13.01x1.43x8.33x0.96% 3.18TCr
13.22x1.17x7.09x2.27% 2.4TCr
11.62x0.75x6.69x3.68% 2.18TCr
16.51x1.19x10.86x1.29% 1.96TCr
Average 13.92x 1.42x 7.46x 2.52% 3.26TCr
Weighted average by Cap. 13.48x 1.46x 7.09x 2.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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