Company Valuation: ES Ceramics Technology

Data adjusted to current consolidation scope
Fiscal Period: May 2021 2022 2023 2024 2025 2026
Market Cap 1 300.8 144.1 95.26 124.2 77.78 84.85
Change - -52.11% -33.89% 30.39% -37.38% 9.09%
Enterprise Value (EV) 1 225.7 83.5 73.07 71.11 35.79 22.19
Change - -63.01% -12.49% -2.69% -49.67% -37.99%
P/E 12.8x 3.84x 4.26x 206x 11.9x 5.5x
PBR 3.63x 1.09x 0.59x 0.67x 0.39x 0.41x
PEG - 0.1x -0.1x -2.1x 0x 0x
Capitalization / Revenue 3.24x 1.24x 0.35x 0.34x 0.16x 0.17x
EV / Revenue 2.43x 0.72x 0.27x 0.19x 0.08x 0.05x
EV / EBITDA 6.22x 1.54x 2.57x 12.7x 2.79x 0.86x
EV / EBIT 6.53x 1.6x 3.07x -85.7x 5.76x 1.18x
EV / FCF 3.97x -2.52x 4.2x 12.1x -2.16x 0.77x
FCF Yield 25.2% -39.7% 23.8% 8.27% -46.2% 129%
Dividend per Share 2 0.045 - - 0.005 - -
Rate of return 7.5% - - 2.7% - -
EPS 2 0.0467 0.0742 0.0423 0.000899 0.009273 0.0218
Distribution rate 96.4% - - 556% - -
Net sales 1 92.91 115.9 271.3 368.4 473.3 487.3
EBITDA 1 36.27 54.22 28.45 5.597 12.84 25.86
EBIT 1 34.57 52.28 23.81 -0.83 6.21 18.81
Net income 1 30.19 48.61 22.81 0.5926 6.442 15.43
Net Debt 1 -75.11 -60.58 -22.19 -53.1 -42 -62.66
Reference price 2 0.6000 0.2850 0.1800 0.1850 0.1100 0.1200
Nbr of stocks (in thousands) 501,391 505,538 529,203 671,389 707,114 707,114
Announcement Date 8/30/21 9/28/22 9/22/23 9/26/24 9/29/25 9/29/26
1MYR in Million2MYR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 31.19M
17.54x2.65x8.76x3.35% 218B
30.32x7.55x16.66x1.49% 159B
25.23x4.05x14.26x2.28% 126B
63.96x4.56x42.56x0.4% 42.5B
11.58x1.75x6.02x3.99% 26.28B
19.21x2.52x12.8x1.09% 21.16B
18.9x3.61x8.91x3.09% 13.79B
10.43x1.18x7.68x7.01% 13.78B
Average 24.65x 3.48x 14.71x 2.84% 69.02B
Weighted average by Cap. 25.23x 4.27x 14.21x 2.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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