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 34,681 - -
Change - -5.81% 41.9% 163.31% 28.39% -8.72% - -
Enterprise Value (EV) 1 14,311 15,019 18,589 36,114 46,337 44,076 44,350 43,942
Change - 4.95% 23.77% 94.28% 28.31% -4.88% 0.62% -0.92%
P/E 3.83x 15.5x 18.3x 28.6x 29.5x 26.6x 24.3x 22.7x
PBR 0.84x 0.76x 0.96x 2.13x 2.36x 2.02x 1.9x 1.81x
PEG - -0.2x 2.36x 0.6x 2.1x 24.98x 2.54x 3.14x
Capitalization / Revenue 2.26x 1.52x 1.83x 3.75x 3.87x 2.86x 2.53x 2.33x
EV / Revenue 3.85x 2.89x 3.03x 4.58x 4.72x 3.64x 3.24x 2.95x
EV / EBITDA 26.3x 21x 22.2x 34.3x 30.9x 27.4x 25.3x 22.3x
EV / EBIT 43.8x 24.3x 26.7x 40.7x 34.4x 27.7x 25.2x 22.5x
EV / FCF 88.1x - 65.8x 24.9x 18.7x -30.3x 36.8x 28.7x
FCF Yield 1.13% - 1.52% 4.02% 5.34% -3.3% 2.72% 3.48%
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% 1.43% 1.59% 1.76%
EPS 2 0.4491 0.1043 0.1124 0.1674 0.1906 0.1926 0.2111 0.2263
Distribution rate 5.57% 33.6% 48.9% 35.8% 31.5% 38% 38.5% 39.9%
Net sales 1 3,714 5,195 6,140 7,882 9,813 12,123 13,708 14,899
EBITDA 1 543.4 713.6 838.3 1,054 1,499 1,610 1,755 1,967
EBIT 1 327.1 618.5 696.9 887.3 1,347 1,593 1,762 1,954
Net income 1 2,665 676.7 737.8 1,154 1,304 1,278 1,390 1,476
Net Debt 1 5,901 7,099 7,350 6,522 8,343 9,395 9,669 9,261
Reference price 2 1.720 1.620 2.060 4.790 5.620 5.130 5.130 5.130
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.($)
26.63x3.64x27.38x1.43% 8.61B
20.5x - - -.--% 1,081B
25.25x2.05x13x1.11% 149B
24.37x4x13.74x1.77% 92.83B
30.49x2.4x18.1x0.77% 82.66B
24.94x5.33x18.19x2.27% 81.31B
21.72x1.73x12.36x1.16% 72.17B
31.8x3.96x18.24x2.6% 69.94B
46.5x2.85x14.7x2.69% 26.84B
Average 28.02x 3.25x 16.96x 1.53% 184.93B
Weighted average by Cap. 22.83x 3.12x 15.40x 0.56%

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