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 27,760 - -
Change - -20.79% 0.29% -5.18% 3.86% -6.52% - -
Enterprise Value (EV) 1 46,856 30,068 39,356 37,416 38,217 35,620 35,020 34,299
Change - -35.83% 30.89% -4.93% 2.14% -6.8% -1.68% -2.06%
P/E 29x 25.4x 30.3x 20.5x 19x 17.1x 17x 16x
PBR 5.64x - 4.73x 4.84x 4.83x 4.37x 4.25x 4.1x
PEG - -2.65x -1.9x 0.5x 1.6x 4.03x 51.11x 2.42x
Capitalization / Revenue 4.12x 3.07x 2.96x 2.71x 2.79x 2.54x 2.49x 2.43x
EV / Revenue 5.09x 3.07x 3.87x 3.55x 3.59x 3.26x 3.14x 3.01x
EV / EBITDA 12x 7.64x 9.94x 9.08x 8.83x 8.03x 7.76x 7.48x
EV / EBIT 21x 13.6x 20.8x 16.1x 15.3x 13.5x 12.9x 12.3x
EV / FCF 20.6x - 23x 18.3x 16.9x 15.2x 14.1x 13.3x
FCF Yield 4.85% - 4.35% 5.47% 5.93% 6.59% 7.08% 7.5%
Dividend per Share 2 0.16 - 0.17 0.17 0.175 0.1777 0.182 0.1878
Rate of return 3.3% - 4.42% 4.66% 4.62% 5.02% 5.14% 5.3%
EPS 2 0.167 0.151 0.127 0.178 0.199 0.2074 0.2081 0.2219
Distribution rate 95.8% - 134% 95.5% 87.9% 85.6% 87.4% 84.6%
Net sales 1 9,203 9,789 10,180 10,536 10,635 10,919 11,165 11,410
EBITDA 1 3,898 3,938 3,960 4,122 4,329 4,434 4,510 4,586
EBIT 1 2,235 2,218 1,890 2,324 2,499 2,635 2,710 2,783
Net income 1 1,308 1,182 993 1,396 1,561 1,625 1,634 1,734
Net Debt 1 8,899 - 9,203 8,825 8,522 7,860 7,260 6,539
Reference price 2 4.850 3.840 3.850 3.650 3.790 3.540 3.540 3.540
Nbr of stocks (in thousands) 7,826,271 7,830,149 7,832,077 7,833,120 7,835,085 7,841,901 - -
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.($)
17.07x3.26x8.03x5.02% 6.81B
2258.2x44.03x90.19x - 2,018B
32.81x6.56x27.19x0.18% 223B
15.11x2.76x6.97x2.51% 177B
10.82x2.47x6.63x4.37% 174B
15.31x2.45x8.09x2.77% 73.53B
14.76x1.44x4.89x3.31% 38.35B
19.18x5.31x9.68x4.93% 30.71B
8.19x0.27x1.1x7.98% 21.77B
11.39x3.07x6.89x7.61% 18.46B
Average 240.28x 7.16x 16.97x 4.3% 278.16B
Weighted average by Cap. 1,643.45x 32.97x 68.93x 2.72%

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