Company Valuation: Excel Force MSC

Data adjusted to current consolidation scope
Fiscal Period: June 2020 2021 2023 2024 2025
Market Cap 1 243.3 307.7 243.3 219.6 146.4
Change - 26.44% - -9.77% -33.33%
Enterprise Value (EV) 1 221.2 275.7 212.8 207.1 131.6
Change - 24.64% - -2.67% -36.46%
P/E 22.8x 25.3x 30.1x 25x 28.9x
PBR 2.62x 3.04x 2.51x 1.71x 1.17x
PEG - 1.8x - -51.58x -0.7x
Capitalization / Revenue 7.75x 8.25x 8.41x 7.57x 5.34x
EV / Revenue 7.05x 7.39x 7.36x 7.14x 4.81x
EV / EBITDA 16.1x 15.6x 18.4x 18.5x 15.2x
EV / EBIT 16.9x 16.3x 19.9x 20.2x 17.2x
EV / FCF 19.1x 16.9x - -9.35x 29.4x
FCF Yield 5.24% 5.91% - -10.7% 3.4%
Dividend per Share 2 0.015 0.015 0.006667 0.01 0.005
Rate of return 3.45% 2.73% 1.53% 2.78% 2.08%
EPS 2 0.0191 0.0218 0.0144 0.0144 0.0083
Distribution rate 78.5% 68.9% 46.2% 69.6% 60.2%
Net sales 1 31.39 37.31 28.92 29.02 27.39
EBITDA 1 13.74 17.67 11.57 11.17 8.636
EBIT 1 13.09 16.92 10.7 10.23 7.669
Net income 1 10.77 12.18 8.079 8.282 5.075
Net Debt 1 -22.17 -32.01 -30.54 -12.46 -14.77
Reference price 2 0.4350 0.5500 0.4350 0.3600 0.2400
Nbr of stocks (in thousands) 559,378 559,378 559,378 609,878 609,878
Announcement Date 5/12/21 4/29/22 10/31/23 10/30/24 10/31/25
1MYR in Million2MYR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 25.34M
22.58x3.66x12.74x2.97% 214B
12.19x1.35x7.06x3.94% 101B
-94.69x14.98x86.7x-.--% 93.71B
15.55x2.84x10.74x5.29% 90.82B
22.25x5.73x14.09x2.58% 65.81B
14.48x2.11x8.93x5.39% 46.87B
21.14x1.71x10.78x1.4% 39.21B
17.96x2.28x10.94x4.84% 37.35B
20.7x1.53x9.73x0.95% 36.38B
Average 5.80x 4.02x 19.08x 3.04% 72.53B
Weighted average by Cap. 4.14x 4.50x 20.78x 3.04%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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