Company Valuation: PETRONAS Gas

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,617 33,876 34,430 34,984 35,894 34,549 - -
Change - -4.89% 1.64% 1.61% 2.6% -3.75% - -
Enterprise Value (EV) 1 35,282 33,685 34,054 34,237 35,480 33,243 32,592 32,628
Change - -4.52% 1.1% 0.54% 3.63% -6.3% -1.96% 0.11%
P/E Ratio 17.9x 20.6x 18.9x 19.1x 20.8x 18.6x 18x 17.9x
PBR 2.72x 2.58x 2.54x 2.51x 2.52x 2.36x 2.28x 2.23x
PEG - -1.2x 1.8x 21.97x -3.5x 2.43x 5.68x 23.97x
Capitalization / Revenue 6.31x 5.5x 5.34x 5.35x 5.63x 5.25x 5.2x 5.15x
EV / Revenue 6.25x 5.47x 5.28x 5.24x 5.57x 5.05x 4.9x 4.86x
EV / EBITDA 9.92x 10.4x 10.4x 10.2x 10.2x 9.3x 8.91x 8.69x
EV / EBIT 13.3x 14.5x 15x 14.9x 15.8x 14.3x 13.6x 13.4x
EV / FCF 16.1x 19.2x 18.5x 18.2x 40.8x 18.1x 18.1x 18.1x
FCF Yield 6.2% 5.22% 5.4% 5.48% 2.45% 5.51% 5.52% 5.52%
Dividend per Share 2 0.82 0.72 0.72 0.72 0.72 0.7305 0.7488 0.7574
Rate of return 4.56% 4.21% 4.14% 4.07% 3.97% 4.18% 4.29% 4.34%
EPS 2 1.005 0.8316 0.92 0.928 0.8728 0.9396 0.9693 0.9766
Distribution rate 81.6% 86.6% 78.3% 77.6% 82.5% 77.7% 77.3% 77.6%
Net sales 1 5,649 6,160 6,445 6,538 6,374 6,580 6,647 6,709
EBITDA 1 3,558 3,245 3,267 3,355 3,473 3,573 3,657 3,755
EBIT 1 2,660 2,320 2,274 2,303 2,249 2,333 2,388 2,432
Net income 1 2,111 1,645 1,820 1,836 1,727 1,869 1,935 1,960
Net Debt 1 -335.3 -190.5 -375.5 -747.3 -414.1 -1,306 -1,956 -1,921
Reference price 2 18.00 17.12 17.40 17.68 18.14 17.46 17.46 17.46
Nbr of stocks (in thousands) 1,978,732 1,978,732 1,978,732 1,978,732 1,978,732 1,978,732 - -
Announcement Date 2/22/22 2/16/23 2/27/24 2/21/25 2/24/26 - - -
1MYR in Million2MYR
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.02x2.03x7.37x6.21% 31.58B
20.12x7.44x14.56x2.37% 28.37B
13.73x1.42x9.35x2.14% 13.42B
11.1x1.21x7.59x1.61% 13.11B
14.95x0.92x10.81x3.28% 11.79B
60.56x8.39x12.63x5.34% 10.15B
10.49x3.82x6.47x2.8% 7.37B
Average 20.71x 3.61x 9.83x 3.39% 16.54B
Weighted average by Cap. 19.10x 3.75x 10.14x 3.68%

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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