Financials Elsoft Research

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 23:00:00 19/05/2024 BST			5-day change	1st Jan Change
0.555 ^MYR	0.00%		+0.91%	+3.74%

05-03	Elsoft Research Berhad Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02-23	Elsoft Research Berhad Announces Single Tier Second Interim Dividend for the Financial Year Ending 31 December, 2023, Payable on 08 Apr. 2024	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	724.4	553.9	533.4	701.8	388.8	384.3	384.3	-
Enterprise Value (EV) ¹	724.4	553.9	533.4	701.8	388.8	370.4	384.3	384.3
P/E ratio	18.3 x	31.3 x	795 x	63.8 x	9.07 x	48.2 x	39.6 x	23.1 x
Yield	4.2%	3.61%	1.26%	1.44%	3.48%	3.74%	1.26%	2.16%
Capitalization / Revenue	9.27 x	16.5 x	29.4 x	24 x	13.8 x	23 x	18.6 x	11.5 x
EV / Revenue	9.27 x	16.5 x	29.4 x	24 x	13.8 x	23 x	18.6 x	11.5 x
EV / EBITDA	17.6 x	29.4 x	73.5 x	54.1 x	-19.9 x	41.7 x	37.7 x	23 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	6.41 x	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	664,553	667,380	670,992	674,793	676,124	692,425	692,425	-
Reference price ²	1.090	0.8300	0.7950	1.040	0.5750	0.5550	0.5550	0.5550
Announcement Date	22/02/19	26/02/20	24/02/21	18/02/22	17/02/23	23/02/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	78.15	33.55	18.13	29.18	28.1	16.07	20.7	33.4
EBITDA ¹	41.25	18.83	7.254	12.97	-19.57	8.882	10.2	16.7
EBIT ¹	-	-	6.453	12.24	-20.36	8.044	9.4	15.9
Operating Margin	-	-	35.6%	41.93%	-72.47%	50.05%	45.41%	47.6%
Earnings before Tax (EBT) ¹	40.26	18.31	0.988	11.49	43.63	8.37	9.9	16.5
Net income ¹	39.92	17.76	0.694	11.03	42.98	7.602	9.8	16.4
Net margin	51.08%	52.94%	3.83%	37.78%	153%	47.3%	47.34%	49.1%
EPS ²	0.0596	0.0265	0.001000	0.0163	0.0634	0.0111	0.0140	0.0240
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0458	0.0300	0.0100	0.0150	0.0200	0.0200	0.007000	0.0120
Announcement Date	22/02/19	26/02/20	24/02/21	18/02/22	17/02/23	23/02/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	15.9%	4%	10.5%	34.7%	5.55%	7%	10.9%
ROA (Net income/ Total Assets)	-	14.2%	3.67%	9.68%	31.7%	5.2%	7%	10.8%
Assets ¹	-	124.8	18.89	113.9	135.7	146.1	140	151.9
Book Value Per Share	0.1700	-	-	-	-	-	-	-
Cash Flow per Share ²	-	-	-	0.0100	-0.0300	0.0100	0.0100	0.0200
Capex	0.67	2.2	-	0.08	-	-	-	-
Capex / Sales	0.86%	6.55%	-	0.28%	-	-	-	-
Announcement Date	22/02/19	26/02/20	24/02/21	18/02/22	17/02/23	23/02/24	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

0.555 MYR

Average target price

0.575 MYR

Spread / Average Target

+3.60%

	1st Jan change	Capi.
ELSOFT RESEARCH	+3.74%	82.02M
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