Company Valuation: Hartalega Holdings

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 30,669 16,575 6,493 9,386 6,451 3,390 - -
Change - -45.96% -60.82% 44.56% -31.27% -47.44% - -
Enterprise Value (EV) 1 28,343 14,435 4,918 8,026 5,535 2,774 2,484 2,333
Change - -49.07% -65.93% 63.18% -31.04% -49.87% 3.27% -6.1%
P/E 10.6x 5.12x -29.8x 743x 86.7x 38.1x 22.2x 19.6x
PBR 6.16x 3.23x 1.4x 2.02x 1.5x 0.88x 0.77x 0.75x
PEG - 0.4x 0x -7x 0x 1x 0.3x 1.5x
Capitalization / Revenue 4.58x 2.1x 2.7x 5.11x 2.49x 1.84x 1.3x 1.25x
EV / Revenue 4.23x 1.83x 2.04x 4.37x 2.14x 1.3x 0.95x 0.86x
EV / EBITDA 7.19x 3.06x 14.3x 45x 27.2x 10.9x 7.12x 6.17x
EV / EBIT 7.45x 3.16x 27.2x 174x 104x 30.3x 14.7x 11.8x
EV / FCF 10.4x 5.02x -14.3x -36x -68.2x 14.1x -552x 15.6x
FCF Yield 9.62% 19.9% -7.02% -2.78% -1.47% 7.08% -0.18% 6.43%
Dividend per Share 2 0.177 0.57 - - 0.1141 0.0169 0.029 0.0302
Rate of return 1.98% 11.8% - - 6.04% 1.7% 2.91% 3.04%
EPS 2 0.8443 0.9464 -0.0638 0.0037 0.0218 0.0302 0.0449 0.0508
Distribution rate 21% 60.2% - - 523% 66.6% 64.6% 59.5%
Net sales 1 6,696 7,888 2,408 1,838 2,586 2,135 2,610 2,706
EBITDA 1 3,942 4,722 344 178.2 203.9 255.4 349 378.2
EBIT 1 3,804 4,570 180.8 46.11 53.2 91.67 168.7 198.4
Net income 1 2,885 3,235 -218 12.72 74.54 103 150.8 171.4
Net Debt 1 -2,326 -2,139 -1,575 -1,361 -916.3 -1,144 -906.2 -1,058
Reference price 2 8.9300 4.8500 1.9000 2.7500 1.8900 0.9950 0.9950 0.9950
Nbr of stocks (in thousands) 3,434,324 3,417,462 3,417,462 3,413,262 3,413,262 3,407,462 - -
Announcement Date 5/4/21 5/10/22 5/9/23 5/21/24 5/6/25 5/5/26 - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
39.13x1.05x9.3x1.7% 833M
29.96x3.96x12.65x4.91% 14.27B
11.82x - - 3.05% 4.27B
44.44x - - 0.57% 3.22B
17.52x - - 2.9% 2.64B
8.3x0.57x2.61x5.44% 2.03B
21.72x - - - 2.02B
22.71x1.42x9.06x1.92% 1.3B
18.73x3x9.98x6.2% 993M
22.76x2.46x9.69x0.54% 989M
Average 23.71x 2.08x 8.88x 3.03% 3.26B
Weighted average by Cap. 25.52x 3.23x 11.01x 3.74%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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