Financials Mi Technovation

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 18:00:00 2024-06-27 EDT			5-day change	1st Jan Change
2.59 ^MYR	+0.78%		-3.00%	+40.00%

05-13	MI Technovation's Profit Jumps on Higher Revenue in Q1; Shares Rally 18%	MT
05-10	Mi Technovation Berhad Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,427	2,939	3,028	1,165	1,653	2,314	-	-
Enterprise Value (EV) ¹	1,280	2,839	2,730	1,165	1,384	2,017	2,046	2,077
P/E ratio	24.2 x	54.7 x	45.1 x	16.9 x	30 x	30.7 x	26 x	21.8 x
Yield	1.92%	0.76%	1.48%	3.08%	2.16%	1.62%	1.82%	2.17%
Capitalization / Revenue	7.46 x	12.8 x	8.07 x	2.99 x	4.64 x	4.89 x	4.19 x	3.61 x
EV / Revenue	6.69 x	12.4 x	7.27 x	2.99 x	3.89 x	4.26 x	3.71 x	3.24 x
EV / EBITDA	20 x	44.6 x	33.5 x	11.7 x	14.9 x	18.9 x	16.2 x	13.9 x
EV / FCF	-54.4 x	-421 x	3,630 x	16.4 x	20.2 x	-237 x	70.7 x	46.2 x
FCF Yield	-1.84%	-0.24%	0.03%	6.11%	4.95%	-0.42%	1.41%	2.16%
Price to Book	3.75 x	7.57 x	2.7 x	1.11 x	-	2.11 x	2.05 x	1.93 x
Nbr of stocks (in thousands)	747,000	746,000	896,000	896,417	893,586	893,586	-	-
Reference price ²	1.910	3.940	3.380	1.300	1.850	2.590	2.590	2.590
Announcement Date	20-02-20	21-02-19	22-02-21	23-02-22	24-02-23	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	191.1	229	375.5	389.5	356	473.7	552	640.4
EBITDA ¹	64.03	63.61	81.47	99.95	92.59	106.5	126.5	149
EBIT ¹	59.77	56.11	64.47	77.42	67.4	83.03	101.2	115.8
Operating Margin	31.27%	24.5%	17.17%	19.88%	18.94%	17.53%	18.33%	18.08%
Earnings before Tax (EBT) ¹	59.54	55.72	63.63	75.45	65.62	87.58	104.2	121.2
Net income ¹	59.17	54.02	61.81	68.86	55.2	75.62	89.7	106.6
Net margin	30.96%	23.59%	16.46%	17.68%	15.51%	15.96%	16.25%	16.65%
EPS ²	0.0790	0.0720	0.0749	0.0767	0.0616	0.0845	0.0998	0.1187
Free Cash Flow ¹	-23.51	-6.744	0.752	71.24	68.47	-8.52	28.95	44.94
FCF margin	-12.3%	-2.94%	0.2%	18.29%	19.24%	-1.8%	5.24%	7.02%
FCF Conversion (EBITDA)	-	-	0.92%	71.28%	73.95%	-	22.89%	30.16%
FCF Conversion (Net income)	-	-	1.22%	103.46%	124.03%	-	32.27%	42.14%
Dividend per Share ²	0.0367	0.0300	0.0500	0.0400	0.0400	0.0420	0.0472	0.0563
Announcement Date	20-02-20	21-02-19	22-02-21	23-02-22	24-02-23	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	147	100	299	-	269	297	268	237
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-23.5	-6.74	0.75	71.2	68.5	-8.52	29	44.9
ROE (net income / shareholders' equity)	16.7%	14.1%	8.72%	6.61%	5.19%	6.9%	7.9%	8.9%
ROA (Net income/ Total Assets)	-	-	7.5%	5.63%	4.5%	6.24%	7.2%	7.77%
Assets ¹	-	-	824.7	1,223	1,227	1,213	1,246	1,373
Book Value Per Share ²	0.5100	0.5200	1.250	1.170	-	1.230	1.260	1.340
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	60.2	34.6	45.9	7.06	9.62	50	50	50
Capex / Sales	31.49%	15.13%	12.24%	1.81%	2.7%	10.55%	9.06%	7.81%
Announcement Date	20-02-20	21-02-19	22-02-21	23-02-22	24-02-23	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2.59 MYR

Average target price

2.588 MYR

Spread / Average Target

-0.10%

	1st Jan change	Capi.
MI TECHNOVATION	+40.00%	487M
ASML HOLDING N.V.	+41.44%	404B
LAM RESEARCH CORPORATION	+35.95%	138B
TOKYO ELECTRON LTD.	+38.19%	99.89B
ASE TECHNOLOGY HOLDING CO., LTD.	+24.81%	22.81B
ENTEGRIS, INC.	+13.00%	20.28B
ONTO INNOVATION INC.	+43.60%	10.84B
AMKOR TECHNOLOGY, INC.	+20.29%	9.57B
SCREEN HOLDINGS CO., LTD.	+21.54%	8.7B
ASMPT LIMITED	+46.17%	5.81B