Company Valuation: Ajiya

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 165 313.1 458.2 445.6 423.6 581.2
Change - 89.76% 46.33% -2.75% -4.94% 37.21%
Enterprise Value (EV) 1 32.15 167.2 296.6 229.1 320 529.5
Change - 420.15% 77.38% -22.77% 39.69% 65.46%
P/E 139x 18.7x 15.6x 8.04x 7.33x 16.1x
PBR 0.46x 0.89x 1.14x 0.96x 0.64x 0.9x
PEG - 0x 0.2x 0.1x 4.18x -0.5x
Capitalization / Revenue 0.65x 1.17x 1.56x 1.46x 1.2x 1.9x
EV / Revenue 0.13x 0.62x 1.01x 0.75x 0.91x 1.73x
EV / EBITDA 9.52x 6.31x 16.7x 15.8x 19.3x 75.1x
EV / EBIT -5.53x 9.3x 30.7x 33.3x 33.7x 2,931x
EV / FCF 1.54x 13x 94.1x -17.9x - -11.8x
FCF Yield 65% 7.68% 1.06% -5.57% - -8.46%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.002 0.0299 0.051 0.0952 0.0968 0.0659
Distribution rate - - - - - -
Net sales 1 254.9 268.5 294 304.8 352.1 306.5
EBITDA 1 3.378 26.52 17.8 14.47 16.55 7.052
EBIT 1 -5.811 17.98 9.673 6.881 9.485 0.1806
Net income 1 1.195 17.51 29.37 55.43 57.76 38.7
Net Debt 1 -132.9 -145.9 -161.6 -216.5 -103.6 -51.71
Reference price 2 0.2775 0.5600 0.7950 0.7650 0.7100 1.0600
Nbr of stocks (in thousands) 594,598 559,123 576,319 582,475 596,567 548,279
Announcement Date 3/31/21 3/28/22 3/28/23 3/29/24 4/28/25 4/22/26
1MYR in Million2MYR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 133M
22.61x2.85x13.94x1.94% 40.06B
11.82x0.93x6.03x3.36% 39.33B
15.08x2.08x10.39x1.89% 13.3B
17.02x2.85x11.72x1.45% 12.59B
-22.18x1.45x16.3x2.99% 12.66B
27.39x4.16x15.14x0.97% 7.66B
14.94x0.75x4.97x3.72% 7.62B
18.85x2.84x11.58x0.68% 7.12B
19.96x4.02x11.71x0.86% 6.84B
Average 13.94x 2.44x 11.31x 1.99% 14.73B
Weighted average by Cap. 14.26x 2.16x 10.90x 2.29%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


-40%: Exceptional extension
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