Financials GHL Systems

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 18:00:00 2024-05-01 EDT			5-day change	1st Jan Change
0.905 ^MYR	+23.13%		+24.83%	+30.22%

03-27	GHL Systems Berhad Announces Final Dividend for the Financial Year Ended 31 December 2023, Payable on 10 May 2024	CI
02-27	GHL Systems Berhad Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,011	2,169	1,986	981.7	793.3	1,062	-	-
Enterprise Value (EV) ¹	1,011	1,986	1,763	844.4	793.3	867.1	831.1	670.7
P/E ratio	35 x	113 x	70.4 x	34.8 x	27.6 x	31.5 x	28.8 x	27.4 x
Yield	-	-	-	2.91%	-	-	-	2.15%
Capitalization / Revenue	2.91 x	6.49 x	5.51 x	2.39 x	1.72 x	2.15 x	2.01 x	1.93 x
EV / Revenue	2.91 x	5.94 x	4.9 x	2.06 x	1.72 x	1.76 x	1.57 x	1.22 x
EV / EBITDA	14.2 x	39.1 x	25.4 x	12.2 x	12 x	11.8 x	10.3 x	7.54 x
EV / FCF	17.2 x	71.6 x	40.2 x	-14 x	-	17.1 x	15.4 x	11.7 x
FCF Yield	5.81%	1.4%	2.48%	-7.14%	-	5.84%	6.5%	8.54%
Price to Book	2.22 x	3.17 x	3.9 x	1.92 x	-	1.83 x	1.78 x	1.79 x
Nbr of stocks (in thousands)	1,123,814	1,141,500	1,141,500	1,141,500	1,141,500	1,141,500	-	-
Reference price ²	0.9000	1.900	1.740	0.8600	0.6950	0.9300	0.9300	0.9300
Announcement Date	20-02-25	21-02-23	22-02-22	23-02-23	24-02-27	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	347.8	334.4	360.2	410.6	460.4	493.8	529.4	549.5
EBITDA ¹	71.05	50.79	69.32	69.18	65.92	73.33	80.66	89
EBIT ¹	38.83	22.01	39.63	42.92	42.15	49.61	56.47	56.3
Operating Margin	11.16%	6.58%	11%	10.45%	9.16%	10.05%	10.67%	10.25%
Earnings before Tax (EBT) ¹	38.88	19.67	40.68	41.43	40.16	45.67	51.37	56.65
Net income ¹	28.72	13.53	28.16	28.15	28.81	32.52	36.47	40.65
Net margin	8.26%	4.04%	7.82%	6.86%	6.26%	6.59%	6.89%	7.4%
EPS ²	0.0257	0.0168	0.0247	0.0247	0.0252	0.0295	0.0323	0.0340
Free Cash Flow ¹	58.8	27.74	43.81	-60.25	-	50.6	54	57.3
FCF margin	16.91%	8.3%	12.16%	-14.67%	-	10.25%	10.2%	10.43%
FCF Conversion (EBITDA)	82.76%	54.62%	63.2%	-	-	69%	66.95%	64.38%
FCF Conversion (Net income)	204.72%	205.1%	155.58%	-	-	155.57%	148.08%	140.96%
Dividend per Share ²	-	-	-	0.0250	-	-	-	0.0200
Announcement Date	20-02-25	21-02-23	22-02-22	23-02-23	24-02-27	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	-	182	223	137	-	195	231	391
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	58.8	27.7	43.8	-60.3	-	50.6	54	57.3
ROE (net income / shareholders' equity)	6.74%	2.93%	5.68%	5.52%	-	6.06%	6.43%	6.6%
ROA (Net income/ Total Assets)	4.4%	2%	3.87%	3.68%	-	3.8%	3.9%	4.5%
Assets ¹	653.3	675.7	728.3	765.7	-	855.9	935	903.3
Book Value Per Share ²	0.4100	0.6000	0.4500	0.4500	-	0.5100	0.5200	0.5200
Cash Flow per Share ²	-	0.0800	0.0800	-0.0200	-	0.0700	0.0800	-
Capex ¹	42.8	35.3	43.3	42.4	-	42.5	43.5	45
Capex / Sales	12.3%	10.56%	12.03%	10.33%	-	8.61%	8.22%	8.19%
Announcement Date	20-02-25	21-02-23	22-02-22	23-02-23	24-02-27	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.93 MYR

Average target price

0.8867 MYR

Spread / Average Target

-4.66%