Company Valuation: Avarga Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 263.4 249.8 199.8 163.5 213.5 192.6
Change - -5.17% -20% -18.18% 30.56% -9.79%
Enterprise Value (EV) 1 423.2 330.2 227.9 113.3 115.5 207.9
Change - -21.96% -30.97% -50.28% 1.9% 80.09%
P/E 4.84x 3.45x 3.93x 15x 9.06x 14.8x
PBR 1.09x 0.85x 0.61x 0.49x 0.6x 0.75x
PEG - 0.1x -0.1x -0.2x 0x -0.3x
Capitalization / Revenue 0.16x 0.1x 0.08x 0.1x 0.13x 0.13x
EV / Revenue 0.25x 0.14x 0.1x 0.07x 0.07x 0.14x
EV / EBITDA 3.48x 2.13x 1.64x 1.61x 1.95x 3.27x
EV / EBIT 3.87x 2.31x 1.79x 1.93x 2.22x 3.66x
EV / FCF 12.1x 2.84x 4.04x 1.34x 2.23x 4.08x
FCF Yield 8.24% 35.2% 24.7% 74.7% 44.9% 24.5%
Dividend per Share 2 0.15 0.084 - - - 1.2
Rate of return 5.36% 3.05% - - - 56.6%
EPS 2 0.579 0.798 0.56 0.12 0.2594 0.1437
Distribution rate 25.9% 10.5% - - - 835%
Net sales 1 1,693 2,435 2,368 1,700 1,620 1,524
EBITDA 1 121.5 155 139.3 70.43 59.21 63.65
EBIT 1 109.3 143.2 127.4 58.72 52.13 56.76
Net income 1 54.83 73.3 50.88 10.93 23.56 13.05
Net Debt 1 159.7 80.42 28.11 -50.17 -97.98 15.39
Reference price 2 2.800 2.750 2.200 1.800 2.350 2.120
Nbr of stocks (in thousands) 94,081 90,836 90,831 90,831 90,831 90,831
Announcement Date 3/23/21 4/13/22 4/12/23 4/2/24 4/9/25 4/8/26
1SGD in Million2SGD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 188M
21.58x1.52x14.6x1.56% 45.22B
34.15x1.26x13.01x1.12% 6.67B
20.39x0.41x7.69x1.19% 2.63B
Average 25.37x 1.07x 11.76x 1.29% 13.68B
Weighted average by Cap. 23.06x 1.44x 14.07x 1.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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