Company Valuation: Sime Darby Plantation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,003 32,158 30,844 34,233 39,627 45,229 - -
Change - 23.67% -4.09% 10.99% 15.76% 14.14% - -
Enterprise Value (EV) 1 31,665 37,620 35,297 38,710 44,239 51,399 49,964 49,080
Change - 18.81% -6.17% 9.67% 14.28% 16.18% -2.79% -1.77%
P/E 11.5x 12.9x 16.6x 15.8x 15.8x 17.4x 17.3x 17.7x
PBR 1.49x 1.73x 1.54x 1.93x 2.17x 2.15x 2.03x 1.95x
PEG - 1.2x -0.7x 1x 1x 4.38x 25.94x -7.45x
Capitalization / Revenue 1.39x 1.53x 1.67x 1.73x 1.9x 2x 1.96x 1.93x
EV / Revenue 1.69x 1.79x 1.92x 1.95x 2.12x 2.28x 2.17x 2.1x
EV / EBITDA 6.14x 7.62x 10.9x 8.17x 8.78x 9.77x 9.85x 9.95x
EV / EBIT 8.28x 10.6x 19.6x 11.8x 12.3x 13.6x 13.4x 14.9x
EV / FCF 15.7x 19.2x 35.6x 49.1x 31.3x 27x 21.3x 19.5x
FCF Yield 6.38% 5.2% 2.81% 2.04% 3.2% 3.7% 4.69% 5.14%
Dividend per Share 2 0.2028 0.1604 0.15 0.1636 0.181 0.1879 0.1922 0.1926
Rate of return 5.39% 3.45% 3.36% 3.31% 3.16% 2.87% 2.94% 2.95%
EPS 2 0.326 0.36 0.269 0.313 0.362 0.3764 0.3789 0.3699
Distribution rate 62.2% 44.6% 55.8% 52.3% 50% 49.9% 50.7% 52.1%
Net sales 1 18,695 21,030 18,428 19,831 20,895 22,578 23,050 23,426
EBITDA 1 5,154 4,936 3,231 4,739 5,041 5,263 5,071 4,931
EBIT 1 3,825 3,563 1,800 3,286 3,602 3,783 3,740 3,303
Net income 1 2,257 2,488 1,860 2,164 2,503 2,650 2,602 2,438
Net Debt 1 5,662 5,462 4,453 4,477 4,612 6,170 4,736 3,851
Reference price 2 3.760 4.650 4.460 4.950 5.730 6.540 6.540 6.540
Nbr of stocks (in thousands) 6,915,715 6,915,715 6,915,715 6,915,715 6,915,715 6,915,715 - -
Announcement Date 2/18/22 2/17/23 2/22/24 2/27/25 2/25/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.38x2.28x9.77x2.87% 11.07B
19.12x2.56x14.29x2.56% 6.92B
14.04x1.17x9.36x3.01% 5.31B
11.85x3.13x7.48x4.8% 4.78B
12.74x1.88x6.38x5.94% 2.52B
8.31x2.71x6.9x10.6% 1.99B
15.12x3.24x10.01x3.47% 1.27B
9.83x1.91x4.54x3.84% 1.24B
Average 13.55x 2.36x 8.59x 4.64% 4.39B
Weighted average by Cap. 15.27x 2.30x 9.70x 3.81%

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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  4. Valuation Sime Darby Plantation