Financials Tien Wah Press Holdings

Equities

TIENWAH

MYL7374OO001

Commercial Printing Services

End-of-day quote BURSA MALAYSIA 23:00:00 08/05/2024 BST 5-day change 1st Jan Change
0.865 MYR 0.00% Intraday chart for Tien Wah Press Holdings -1.14% +2.37%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 162.1 160.7 132.4 167.9 128.8 122.3
Enterprise Value (EV) 1 284.5 282.6 202.2 212.1 168.7 137.8
P/E ratio -26.4 x -8.02 x -113 x 26.8 x -8.47 x 14.3 x
Yield 7.14% 4.95% 6.01% 4.83% 6.29% 6.63%
Capitalization / Revenue 0.47 x 0.46 x 0.48 x 0.67 x 0.53 x 0.45 x
EV / Revenue 0.83 x 0.82 x 0.73 x 0.84 x 0.69 x 0.51 x
EV / EBITDA 4.86 x 6.16 x 3.79 x 4.3 x 4.62 x 2.91 x
EV / FCF 13.2 x 10.4 x 3.17 x 4.64 x 9.29 x 46.8 x
FCF Yield 7.59% 9.64% 31.5% 21.6% 10.8% 2.14%
Price to Book 0.5 x 0.55 x 0.47 x 0.6 x 0.48 x 0.44 x
Nbr of stocks (in thousands) 144,743 144,743 144,743 144,743 144,743 144,743
Reference price 2 1.120 1.110 0.9150 1.160 0.8900 0.8450
Announcement Date 05/04/19 11/06/20 28/05/21 26/04/22 20/04/23 23/04/24
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 342.4 346.3 277.4 252.2 244 270.4
EBITDA 1 58.59 45.9 53.39 49.33 36.49 47.39
EBIT 1 12.83 -4.227 12.02 13.07 0.865 15.74
Operating Margin 3.75% -1.22% 4.33% 5.18% 0.35% 5.82%
Earnings before Tax (EBT) 1 4.971 -14.2 3.838 8.969 -14.03 12.72
Net income 1 -6.144 -20.04 -1.177 6.262 -15.21 8.582
Net margin -1.79% -5.79% -0.42% 2.48% -6.23% 3.17%
EPS 2 -0.0424 -0.1385 -0.008131 0.0433 -0.1051 0.0593
Free Cash Flow 1 21.59 27.24 63.78 45.74 18.15 2.942
FCF margin 6.3% 7.87% 22.99% 18.13% 7.44% 1.09%
FCF Conversion (EBITDA) 36.85% 59.33% 119.45% 92.73% 49.75% 6.21%
FCF Conversion (Net income) - - - 730.48% - 34.28%
Dividend per Share 2 0.0800 0.0550 0.0550 0.0560 0.0560 0.0560
Announcement Date 05/04/19 11/06/20 28/05/21 26/04/22 20/04/23 23/04/24
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 122 122 69.8 44.2 39.8 15.5
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.089 x 2.656 x 1.307 x 0.8963 x 1.092 x 0.3266 x
Free Cash Flow 1 21.6 27.2 63.8 45.7 18.2 2.94
ROE (net income / shareholders' equity) 0.68% -4.53% 0.86% 1.52% -5.04% 3.09%
ROA (Net income/ Total Assets) 1.25% -0.43% 1.4% 1.72% 0.12% 2.17%
Assets 1 -489.8 4,610 -84.19 365.1 -12,664 395.2
Book Value Per Share 2 2.250 2.020 1.940 1.950 1.850 1.920
Cash Flow per Share 2 0.3400 0.2500 0.1800 0.1400 0.1600 0.1300
Capex 1 55.1 32.5 9.64 9.09 20.6 50.4
Capex / Sales 16.1% 9.37% 3.47% 3.6% 8.45% 18.64%
Announcement Date 05/04/19 11/06/20 28/05/21 26/04/22 20/04/23 23/04/24
1MYR in Million2MYR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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