Financials NationGate Holdings

Equities

NATGATE

MYQ0270OO007

Electronic Equipment & Parts

End-of-day quote BURSA MALAYSIA Other stock markets 23:00:00 30/06/2024 BST			5-day change	1st Jan Change
1.9 ^MYR	+3.83%		-4.04%	+25.83%

06-24	NationGate Closes MYR25 Million Acquisition of Hesechan Industries	MT
06-21	NationGate Holdings Berhad completed the acquisition of Hesechan Industries Sdn Bhd from Heap Seong Chan Company Sdn Bhd.	CI

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	3,132	3,940	-	-
Enterprise Value (EV) ¹	3,172	4,023	4,230	3,940
P/E ratio	51.5 x	32.2 x	25.6 x	22.4 x
Yield	0.66%	0.58%	0.68%	1.05%
Capitalization / Revenue	4.91 x	2.83 x	2.17 x	1.56 x
EV / Revenue	4.97 x	2.89 x	2.33 x	1.56 x
EV / EBITDA	27.3 x	21.3 x	18.1 x	16 x
EV / FCF	-	-	-	-
FCF Yield	-	-	-	-
Price to Book	7.42 x	6.23 x	6.33 x	-
Nbr of stocks (in thousands)	2,073,933	2,073,933	-	-
Reference price ²	1.510	1.900	1.900	1.900
Announcement Date	29/02/24	-	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	760.9	945.7	638.3	1,394	1,819	2,525
EBITDA ¹	-	152.1	116.1	188.6	233.7	245.6
EBIT ¹	-	117	78.04	157.7	200.4	204.4
Operating Margin	-	12.37%	12.23%	11.31%	11.02%	8.09%
Earnings before Tax (EBT) ¹	-	104.6	70.54	141	183	203.4
Net income ¹	57.33	85.29	60.81	122.2	153.9	176.4
Net margin	7.53%	9.02%	9.53%	8.77%	8.46%	6.98%
EPS ²	-	0.0411	0.0293	0.0590	0.0743	0.0850
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	0.0100	0.0100	0.0110	0.0130	0.0200
Announcement Date	05/07/22	23/02/23	29/02/24	-	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1
Net sales	-
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income ¹	13.29
Net margin	-
EPS ²	0.006400
Dividend per Share	-
Announcement Date	24/05/23

¹MYR in Million²MYR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	40.7	82.4	290	-
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.3505 x	0.4368 x	1.239 x	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	44.3%	18.9%	23.1%	25.2%	24.1%
ROA (Net income/ Total Assets)	-	12.5%	8.12%	13.1%	15.2%	15.4%
Assets ¹	-	684.3	748.5	933.1	1,016	1,145
Book Value Per Share ²	-	0.1400	0.2000	0.3100	0.3000	-
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	-	36.7	52.7	50	50	50
Capex / Sales	-	3.88%	8.26%	3.59%	2.75%	1.98%
Announcement Date	05/07/22	23/02/23	29/02/24	-	-	-

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

Ratings for NationGate Holdings

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.9 MYR

Average target price

1.98 MYR

Spread / Average Target

+4.21%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Electronic Equipment & Parts

	1st Jan change	Capi.
NATIONGATE HOLDINGS	+25.83%	805M
KEYENCE CORPORATION	+14.02%	106B
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BOE TECHNOLOGY GROUP COMPANY LIMITED	+5.38%	20.75B
TELEDYNE TECHNOLOGIES INCORPORATED	-13.72%	18.4B
KYOCERA CORPORATION	-9.74%	16.21B
ZEBRA TECHNOLOGIES CORPORATION	+11.91%	15.88B
HALMA PLC	+18.48%	12.9B
FLEX LTD.	-2.64%	11.76B
SAMSUNG ELECTRO-MECHANICS CO., LTD.	+1.83%	8.49B

Other Electronic Equipment & Parts