Company Valuation: Maxis

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 37,957 30,068 30,153 28,591 29,695 29,225 - -
Change - -20.79% 0.29% -5.18% 3.86% -1.58% - -
Enterprise Value (EV) 1 46,856 30,068 39,356 37,416 38,217 37,077 36,464 35,732
Change - -35.83% 30.89% -4.93% 2.14% -2.98% -1.65% -2.01%
P/E 29x 25.4x 30.3x 20.5x 19x 18x 17.9x 16.9x
PBR 5.64x - 4.73x 4.84x 4.83x 4.61x 4.52x 4.35x
PEG - -2.65x -1.9x 0.5x 1.6x 4.65x 27.61x 2.69x
Capitalization / Revenue 4.12x 3.07x 2.96x 2.71x 2.79x 2.68x 2.62x 2.55x
EV / Revenue 5.09x 3.07x 3.87x 3.55x 3.59x 3.39x 3.27x 3.12x
EV / EBITDA 12x 7.64x 9.94x 9.08x 8.83x 8.38x 8.14x 7.81x
EV / EBIT 21x 13.6x 20.8x 16.1x 15.3x 14.1x 13.5x 12.9x
EV / FCF 20.6x - 23x 18.3x 16.9x 16.2x 14.8x 14x
FCF Yield 4.85% - 4.35% 5.47% 5.93% 6.19% 6.76% 7.16%
Dividend per Share 2 0.16 - 0.17 0.17 0.175 0.1739 0.1812 0.1879
Rate of return 3.3% - 4.42% 4.66% 4.62% 4.66% 4.86% 5.04%
EPS 2 0.167 0.151 0.127 0.178 0.199 0.2067 0.208 0.2211
Distribution rate 95.8% - 134% 95.5% 87.9% 84.1% 87.1% 85%
Net sales 1 9,203 9,789 10,180 10,536 10,635 10,922 11,142 11,447
EBITDA 1 3,898 3,938 3,960 4,122 4,329 4,426 4,477 4,577
EBIT 1 2,235 2,218 1,890 2,324 2,499 2,634 2,707 2,774
Net income 1 1,308 1,182 993 1,396 1,561 1,622 1,634 1,728
Net Debt 1 8,899 - 9,203 8,825 8,522 7,852 7,239 6,507
Reference price 2 4.850 3.840 3.850 3.650 3.790 3.730 3.730 3.730
Nbr of stocks (in thousands) 7,826,271 7,830,149 7,832,077 7,833,120 7,835,085 7,835,085 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/18/25 2/12/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.04x3.39x8.38x4.66% 7.26B
1144.82x41.97x85.74x - 1,921B
16.57x2.94x7.44x2.28% 195B
26.85x6.13x32.43x0.21% 184B
11.1x2.51x6.72x4.27% 178B
14.74x2.37x7.86x2.88% 69.54B
12.72x1.42x4.85x3.49% 36.98B
19.72x5.39x9.89x4.83% 31.65B
8.26x0.29x1.18x7.96% 21.97B
12.87x3.26x7.34x7.16% 19.89B
Average 128.57x 6.97x 17.18x 4.19% 266.45B
Weighted average by Cap. 830.00x 31.24x 65.51x 2.79%

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