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 0.278 0.560 0.795 0.765 0.710 1.060
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 134M
12.35x0.98x6.32x3.18% 41.13B
21.78x2.75x13.47x2.02% 38.96B
18.21x2.29x12.04x1.64% 15.24B
-27.24x1.63x17.45x-.--% 14.47B
17.56x2.96x12.08x1.43% 13.02B
15.22x0.8x5.21x3.36% 8.15B
32.18x4.35x16.11x0.96% 7.89B
32.94x0.79x9.63x-.--% 7.5B
20.45x3.01x12.49x0.64% 7.63B
Average 15.94x 2.17x 11.64x 1.47% 15.41B
Weighted average by Cap. 14.61x 2.04x 11.14x 1.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA