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.($)
- - - - 30.62M
21.6x3.56x12.43x3.08% 207B
-129.95x18.06x99.96x-.--% 116B
13.16x1.47x7.72x3.65% 108B
13.16x2.39x9.01x6.24% 76.63B
19.26x5.15x12.66x2.91% 57.36B
22.08x1.83x11.56x1.41% 43.4B
13.31x1.92x8.14x5.85% 42.86B
20.7x1.58x9.93x0.9% 40.25B
103.08x10.29x38.44x-.--% 35.82B
Average 10.71x 5.14x 23.32x 2.67% 72.84B
Weighted average by Cap. -1.45x 5.59x 26.21x 2.78%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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