Financials Sunway

Equities

SUNWAY

MYL5211OO007

Construction & Engineering

End-of-day quote BURSA MALAYSIA 23:00:00 08/05/2024 BST 5-day change 1st Jan Change
3.55 MYR -0.84% Intraday chart for Sunway +0.85% +72.33%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,832 7,871 8,409 7,920 11,239 19,957 - -
Enterprise Value (EV) 1 12,514 13,140 14,311 15,019 18,589 27,086 27,654 27,641
P/E ratio 12.3 x 22.2 x 3.83 x 15.5 x 18.3 x 25.9 x 23.5 x 21 x
Yield 4.17% 0.93% 1.45% 2.16% 2.67% 1.73% 1.84% 1.96%
Capitalization / Revenue 1.85 x 2.05 x 2.26 x 1.52 x 1.83 x 3.07 x 2.9 x 2.65 x
EV / Revenue 2.62 x 3.43 x 3.85 x 2.89 x 3.03 x 4.17 x 4.02 x 3.67 x
EV / EBITDA 15.6 x 27.7 x 26.3 x 21 x 22.2 x 31.9 x 29.4 x 26 x
EV / FCF 21.5 x 164 x 88.1 x - 65.8 x 23.9 x 68.2 x 34.5 x
FCF Yield 4.64% 0.61% 1.13% - 1.52% 4.19% 1.47% 2.9%
Price to Book 0.93 x 0.83 x 0.84 x 0.76 x 0.96 x 1.41 x 1.34 x 1.28 x
Nbr of stocks (in thousands) 4,906,569 4,888,927 4,889,070 4,889,075 5,455,663 5,621,585 - -
Reference price 2 1.800 1.610 1.720 1.620 2.060 3.550 3.550 3.550
Announcement Date 25/02/20 31/03/21 25/02/22 23/02/23 21/02/24 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,780 3,833 3,714 5,195 6,140 6,494 6,875 7,539
EBITDA 1 800.3 474.7 543.4 713.6 838.3 848.5 941.7 1,064
EBIT 1 565.2 250.8 327.1 618.5 696.9 749.9 830.4 970.7
Operating Margin 11.82% 6.54% 8.81% 11.9% 11.35% 11.55% 12.08% 12.88%
Earnings before Tax (EBT) 1 914.2 509.3 465.7 919.8 993.2 1,090 1,201 1,329
Net income 1 766.6 359.6 2,665 676.7 737.8 790.8 863.1 946.2
Net margin 16.04% 9.38% 71.76% 13.03% 12.02% 12.18% 12.56% 12.55%
EPS 2 0.1461 0.0725 0.4491 0.1043 0.1124 0.1372 0.1512 0.1693
Free Cash Flow 1 580.7 80.04 162.4 - 282.7 1,136 405.7 801.4
FCF margin 12.15% 2.09% 4.37% - 4.6% 17.49% 5.9% 10.63%
FCF Conversion (EBITDA) 72.56% 16.86% 29.88% - 33.72% 133.83% 43.08% 75.34%
FCF Conversion (Net income) 75.75% 22.26% 6.09% - 38.31% 143.59% 47% 84.7%
Dividend per Share 2 0.0750 0.0150 0.0250 0.0350 0.0550 0.0613 0.0653 0.0696
Announcement Date 25/02/20 31/03/21 25/02/22 23/02/23 21/02/24 - - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q3
Net sales -
EBITDA -
EBIT -
Operating Margin -
Earnings before Tax (EBT) -
Net income 1 180.3
Net margin -
EPS 2 0.0251
Dividend per Share -
Announcement Date 22/11/23
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,682 5,269 5,901 7,099 7,350 7,129 7,697 7,685
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.601 x 11.1 x 10.86 x 9.948 x 8.768 x 8.402 x 8.174 x 7.225 x
Free Cash Flow 1 581 80 162 - 283 1,136 406 801
ROE (net income / shareholders' equity) 8.56% 4.01% 2.73% 5.51% 5.59% 5.48% 5.93% 6.31%
ROA (Net income/ Total Assets) 3.38% 1.69% 1.28% 2.65% 2.7% 2.73% 2.94% 3.1%
Assets 1 22,669 21,307 209,028 25,571 27,338 28,938 29,386 30,510
Book Value Per Share 2 1.930 1.950 2.050 2.140 2.150 2.530 2.640 2.770
Cash Flow per Share 2 0.1900 0.1700 0.1800 0.0700 0.0600 0.2200 0.1400 0.1700
Capex 1 336 748 876 - 108 320 281 204
Capex / Sales 7.03% 19.51% 23.59% - 1.75% 4.93% 4.09% 2.71%
Announcement Date 25/02/20 31/03/21 25/02/22 23/02/23 21/02/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
3.55 MYR
Average target price
3.385 MYR
Spread / Average Target
-4.66%
Consensus

Annual profits - Rate of surprise