Company Valuation: Sime Darby Property

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,046 3,060 4,251 11,493 9,453 9,249 - -
Change - -24.37% 38.89% 170.4% -17.75% -2.16% - -
Enterprise Value (EV) 1 7,327 6,277 6,913 13,998 13,276 12,949 12,914 12,612
Change - -14.33% 10.14% 102.48% -5.16% -2.46% -0.27% -2.34%
P/E 74.4x 9.78x 10.4x 22.9x 18.3x 15.4x 14.2x 13.1x
PBR 0.44x 0.32x 0.42x 1.12x 0.9x 0.84x 0.81x 0.78x
PEG - 0x 0.3x 1x 5.87x 1x 1.76x 1.47x
Capitalization / Revenue 1.82x 1.12x 1.24x 2.7x 2.26x 2.04x 1.97x 1.92x
EV / Revenue 3.3x 2.29x 2.01x 3.29x 3.17x 2.86x 2.75x 2.61x
EV / EBITDA 44.5x 12.1x 10.8x 14.5x 14x 12x 11.4x 10.4x
EV / EBIT 55.4x 12.9x 11.4x 15.6x 14.8x 12.8x 12x 10.9x
EV / FCF 15x 12.9x -62.8x 30.8x 42.1x 16.8x 18.3x 16.7x
FCF Yield 6.67% 7.78% -1.59% 3.24% 2.38% 5.97% 5.45% 5.99%
Dividend per Share 2 0.01 - 0.025 0.03 0.03 0.0353 0.0385 0.0414
Rate of return 1.68% - 4% 1.78% 2.16% 2.6% 2.83% 3.05%
EPS 2 0.008 0.046 0.06 0.0738 0.0761 0.0884 0.0955 0.104
Distribution rate 125% - 41.7% 40.7% 39.4% 40% 40.3% 39.9%
Net sales 1 2,220 2,742 3,437 4,251 4,184 4,532 4,696 4,830
EBITDA 1 164.7 519.8 638.2 964.6 948.9 1,079 1,132 1,207
EBIT 1 132.3 487.8 606.4 899.8 895.3 1,011 1,079 1,156
Net income 1 56.39 - 407.9 502.2 517.7 599.1 649.3 703.6
Net Debt 1 3,280 3,217 2,663 2,504 3,822 3,700 3,665 3,362
Reference price 2 0.595 0.450 0.625 1.690 1.390 1.360 1.360 1.360
Nbr of stocks (in thousands) 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 in Million2MYR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.39x2.86x12x2.6% 2.26B
15.92x5x13.47x3.18% 45.3B
18.46x3.97x16.19x1.35% 28.26B
5.94x0.72x1.48x8.47% 28.4B
13.63x3.04x14.56x2.58% 25.18B
8.6x0.95x3.47x2.6% 21.99B
9.07x2.34x7.2x3.85% 21.37B
13.98x6.61x17.67x1.52% 20.42B
10.15x1.64x14.22x3.72% 18.49B
16.52x9.66x18.29x5.01% 17.65B
Average 12.77x 3.68x 11.85x 3.49% 22.93B
Weighted average by Cap. 12.81x 3.70x 11.69x 3.58%

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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