Company Valuation: Sunway

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,409 7,920 11,239 29,592 37,994 30,692 - -
Change - -5.81% 41.9% 163.31% 28.39% -19.22% - -
Enterprise Value (EV) 1 14,311 15,019 18,589 36,114 46,337 40,095 40,249 39,899
Change - 4.95% 23.77% 94.28% 28.31% -13.47% 0.38% -0.87%
P/E 3.83x 15.5x 18.3x 28.6x 29.5x 23.6x 21.5x 19.9x
PBR 0.84x 0.76x 0.96x 2.13x 2.36x 1.78x 1.68x 1.6x
PEG - -0.2x 2.36x 0.6x 2.1x 31.46x 2.1x 2.58x
Capitalization / Revenue 2.26x 1.52x 1.83x 3.75x 3.87x 2.53x 2.21x 2.03x
EV / Revenue 3.85x 2.89x 3.03x 4.58x 4.72x 3.31x 2.9x 2.64x
EV / EBITDA 26.3x 21x 22.2x 34.3x 30.9x 24.9x 22.9x 20.3x
EV / EBIT 43.8x 24.3x 26.7x 40.7x 34.4x 25.2x 22.6x 20.2x
EV / FCF 88.1x - 65.8x 24.9x 18.7x -27.6x 33.4x 26.1x
FCF Yield 1.13% - 1.52% 4.02% 5.34% -3.62% 3% 3.83%
Dividend per Share 2 0.025 0.035 0.055 0.06 0.06 0.0732 0.0813 0.0902
Rate of return 1.45% 2.16% 2.67% 1.25% 1.07% 1.61% 1.79% 1.99%
EPS 2 0.4491 0.1043 0.1124 0.1674 0.1906 0.192 0.2114 0.2276
Distribution rate 5.57% 33.6% 48.9% 35.8% 31.5% 38.1% 38.5% 39.6%
Net sales 1 3,714 5,195 6,140 7,882 9,813 12,110 13,865 15,097
EBITDA 1 543.4 713.6 838.3 1,054 1,499 1,610 1,756 1,970
EBIT 1 327.1 618.5 696.9 887.3 1,347 1,593 1,779 1,977
Net income 1 2,665 676.7 737.8 1,154 1,304 1,277 1,394 1,486
Net Debt 1 5,901 7,099 7,350 6,522 8,343 9,402 9,557 9,206
Reference price 2 1.720 1.620 2.060 4.790 5.620 4.540 4.540 4.540
Nbr of stocks (in thousands) 4,889,070 4,889,075 5,455,663 6,177,963 6,760,421 6,760,421 - -
Announcement Date 2/25/22 2/23/23 2/21/24 2/26/25 2/25/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.11x3.36x25.28x1.58% 7.68B
20.54x - - -.--% 1,082B
25.54x2.06x12.66x1.08% 158B
22.67x3.79x12.99x1.86% 87.44B
29.82x2.18x16.36x0.77% 83.22B
23.94x5.14x17.51x2.36% 78.13B
19.85x1.6x11.3x1.24% 68.14B
31.54x3.88x17.61x2.97% 67.37B
48.61x2.97x15.3x2.58% 27.52B
Average 27.40x 3.12x 16.13x 1.6% 184.39B
Weighted average by Cap. 22.65x 2.97x 14.61x 0.57%

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