Financials Farm Fresh

Equities

FFB

MYL5306OO005

Food Processing

End-of-day quote BURSA MALAYSIA 23:00:00 08/05/2024 BST 5-day change 1st Jan Change
1.44 MYR -0.69% Intraday chart for Farm Fresh -2.04% +9.09%

Valuation

Fiscal Period: March 2022 2023 2024 2025 2026
Capitalization 1 3,047 2,787 2,696 - -
Enterprise Value (EV) 1 3,030 2,956 2,990 3,001 2,989
P/E ratio 38.1 x 55.8 x 42.1 x 25.4 x 20.6 x
Yield - 0.67% 0.68% 0.97% 1.38%
Capitalization / Revenue 6.07 x 4.43 x 3.41 x 2.86 x 2.49 x
EV / Revenue 6.04 x 4.69 x 3.79 x 3.19 x 2.76 x
EV / EBITDA 29.3 x 28.4 x 24.2 x 17.2 x 14.5 x
EV / FCF -284 x -18.3 x -70.6 x 194 x 67.1 x
FCF Yield -0.35% -5.47% -1.42% 0.51% 1.49%
Price to Book 5.03 x 4.42 x 3.92 x 3.48 x 3.11 x
Nbr of stocks (in thousands) 1,857,955 1,858,239 1,872,343 - -
Reference price 2 1.640 1.500 1.440 1.440 1.440
Announcement Date 24/05/22 30/05/23 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Net sales 1 - 501.9 629.7 789.7 941.7 1,082
EBITDA 1 - 103.5 104.2 123.6 174.9 206.8
EBIT 1 - 74.88 70.95 83.71 131.1 153.9
Operating Margin - 14.92% 11.27% 10.6% 13.92% 14.22%
Earnings before Tax (EBT) 1 - 65.68 52.17 71.83 118.6 147.3
Net income 1 36.23 79.89 50.08 64.67 104.9 129.9
Net margin - 15.92% 7.95% 8.19% 11.14% 12%
EPS 2 0.4300 0.0430 0.0269 0.0342 0.0567 0.0698
Free Cash Flow 1 - -10.68 -161.5 -42.36 15.44 44.55
FCF margin - -2.13% -25.65% -5.36% 1.64% 4.12%
FCF Conversion (EBITDA) - - - - 8.83% 21.54%
FCF Conversion (Net income) - - - - 14.72% 34.31%
Dividend per Share 2 - - 0.0100 0.009720 0.0140 0.0199
Announcement Date 04/10/21 24/05/22 30/05/23 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 128.1 144 162.1 162.2 161.4 185.5 198.3 194.7 220.6 229.8 229.8 239
EBITDA 1 24.76 28.01 26.7 30.54 20.03 18.18 28.39 32.56 40.32 42 42 43.68
EBIT 1 17.61 20.26 18.48 21.8 11.52 9.275 18.62 22.5 30.01 31.26 31.26 32.51
Operating Margin 13.75% 14.07% 11.4% 13.44% 7.14% 5% 9.39% 11.55% 13.6% 13.6% 13.6% 13.6%
Earnings before Tax (EBT) 1 - - - - - 5.869 20.19 18.64 26.26 27.35 27.35 28.45
Net income 1 - - - - - 6.371 12.79 16.86 23.63 24.62 24.62 25.6
Net margin - - - - - 3.44% 6.45% 8.66% 10.71% 10.71% 10.71% 10.71%
EPS 2 0.009500 0.008200 0.006000 - - 0.003400 0.006800 0.009060 0.0127 0.0132 0.0132 0.0138
Dividend per Share 2 - 0.0110 0.0110 - 0.0100 0.0100 - 0.002180 0.001320 0.001320 0.001320 0.001320
Announcement Date 24/05/22 24/08/22 23/11/22 24/02/23 30/05/23 30/08/23 28/11/23 - - - - -
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 168 294 305 293
Net Cash position 1 - 17.2 - - - -
Leverage (Debt/EBITDA) - - 1.617 x 2.38 x 1.745 x 1.418 x
Free Cash Flow 1 - -10.7 -162 -42.4 15.4 44.6
ROE (net income / shareholders' equity) - 19% 9.28% 9.74% 14.3% 15%
ROA (Net income/ Total Assets) - 9.79% 5.54% 6.4% 9.8% 11%
Assets 1 - 816.1 904.6 1,010 1,071 1,185
Book Value Per Share 2 - 0.3300 0.3400 0.3700 0.4100 0.4600
Cash Flow per Share 2 - 0.0300 -0.0100 0.0700 0.0700 0.0900
Capex 1 - 60.8 142 120 89.5 91.3
Capex / Sales - 12.12% 22.49% 15.2% 9.51% 8.43%
Announcement Date 04/10/21 24/05/22 30/05/23 - - -
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
11
Last Close Price
1.44 MYR
Average target price
1.55 MYR
Spread / Average Target
+7.64%
Consensus
  1. Stock Market
  2. Equities
  3. FFB Stock
  4. Financials Farm Fresh