Projected Income Statement: Sime Darby Property

Forecast Balance Sheet: Sime Darby Property

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 3,280 3,217 2,663 2,504 3,822 3,554 3,694 3,435
Change - -1.92% -17.22% -5.97% 52.64% -7.02% 3.94% -7.01%
Announcement Date 2/24/22 2/28/23 2/23/24 2/26/25 2/26/26 - - -
1MYR in Million
Estimates

Cash Flow Forecast: Sime Darby Property

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 5.491 11.28 34.93 41.3 1,061 740.5 988.2 473.5
Change - 105.43% 209.63% 18.26% 2,468.15% -30.19% 33.46% -52.09%
Free Cash Flow (FCF) 1 488.8 488.3 -110 453.9 315.6 772.5 704 755.5
Change - -0.1% -122.53% 512.45% -30.45% 144.74% -8.87% 7.32%
Announcement Date 2/24/22 2/28/23 2/23/24 2/26/25 2/26/26 - - -
1MYR in Million
Estimates

Forecast Financial Ratios: Sime Darby Property

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 7.42% 18.96% 18.57% 22.69% 22.68% 23.79% 23.97% 25.33%
EBIT Margin (%) 5.96% 17.79% 17.64% 21.17% 21.4% 22.29% 22.85% 24.27%
EBT Margin (%) 5.22% - 17.76% 18.35% 19.2% 19.75% 20.5% 21.84%
Net margin (%) 2.54% - 11.87% 11.81% 12.37% 13.14% 13.58% 14.42%
FCF margin (%) 22.02% 17.81% -3.2% 10.68% 7.54% 17.05% 14.99% 15.64%
FCF / Net Income (%) 866.88% - -26.98% 90.37% 60.97% 129.73% 110.35% 108.46%

Profitability

        
ROA 0.91% - 2.61% 3.1% 2.95% 3.16% 3.32% 3.56%
ROE 1.51% - 4.17% 4.94% 4.97% 5.45% 5.61% 5.98%

Financial Health

        
Leverage (Debt/EBITDA) 19.91x 6.19x 4.17x 2.6x 4.03x 3.3x 3.28x 2.81x
Debt / Free cash flow 6.71x 6.59x -24.2x 5.52x 12.11x 4.6x 5.25x 4.55x

Capital Intensity

        
CAPEX / Current Assets (%) 0.25% 0.41% 1.02% 0.97% 25.35% 16.34% 21.04% 9.8%
CAPEX / EBITDA (%) 3.33% 2.17% 5.47% 4.28% 111.78% 68.68% 87.78% 38.71%
CAPEX / FCF (%) 1.12% 2.31% -31.74% 9.1% 336.04% 95.85% 140.37% 62.67%

Items per share

        
Cash flow per share 1 0.0727 0.1484 -0.011 0.0728 0.0553 0.183 0.0585 0.138
Change - 104.15% -107.41% 761.82% -24.04% 230.92% -68.03% 135.9%
Dividend per Share 1 0.01 - 0.025 0.03 0.03 0.0353 0.0384 0.0414
Change - - - 20% 0% 17.77% 8.75% 7.89%
Book Value Per Share 1 1.344 1.4 1.48 1.51 1.55 1.613 1.677 1.727
Change - 4.15% 5.71% 2.03% 2.65% 4.05% 4.01% 2.93%
EPS 1 0.008 0.046 0.06 0.0738 0.0761 0.0878 0.0938 0.103
Change - 475% 30.43% 23% 3.12% 15.43% 6.8% 9.78%
Nbr of stocks (in thousands) 6,800,839 6,800,839 6,800,839 6,800,839 6,800,839 6,800,839 6,800,839 6,800,839
Announcement Date 2/24/22 2/28/23 2/23/24 2/26/25 2/26/26 - - -
1MYR
Estimates
2026 *2027 *
P/E 14.7x 13.8x
PBR 0.8x 0.77x
EV / Sales 2.72x 2.65x
Yield 2.74% 2.98%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
BBB
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
1.290MYR
Average target price
1.890MYR
Spread / Average Target
+46.51%

Annual profits - Rate of surprise

  1. Stock Market
  2. Stocks
  3. 5288 Stock
  4. SIMEF Stock
  5. Financials Sime Darby Property