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 33,532 - -
Change - -5.81% 41.9% 163.31% 28.39% -11.74% - -
Enterprise Value (EV) 1 14,311 15,019 18,589 36,114 46,337 42,934 43,088 42,738
Change - 4.95% 23.77% 94.28% 28.31% -7.34% 0.36% -0.81%
P/E 3.83x 15.5x 18.3x 28.6x 29.5x 25.8x 23.5x 21.8x
PBR 0.84x 0.76x 0.96x 2.13x 2.36x 1.95x 1.84x 1.75x
PEG - -0.2x 2.36x 0.6x 2.1x 35.38x 2.3x 2.83x
Capitalization / Revenue 2.26x 1.52x 1.83x 3.75x 3.87x 2.77x 2.42x 2.22x
EV / Revenue 3.85x 2.89x 3.03x 4.58x 4.72x 3.55x 3.11x 2.83x
EV / EBITDA 26.3x 21x 22.2x 34.3x 30.9x 26.7x 24.5x 21.7x
EV / EBIT 43.8x 24.3x 26.7x 40.7x 34.4x 26.9x 24.2x 21.6x
EV / FCF 88.1x - 65.8x 24.9x 18.7x -29.6x 35.7x 27.9x
FCF Yield 1.13% - 1.52% 4.02% 5.34% -3.38% 2.8% 3.58%
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% 1.48% 1.64% 1.82%
EPS 2 0.4491 0.1043 0.1124 0.1674 0.1906 0.192 0.2113 0.2276
Distribution rate 5.57% 33.6% 48.9% 35.8% 31.5% 38.2% 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 4.960 4.960 4.960
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.($)
20.56x - - -.--% 1,083B
25.09x2.06x12.67x1.11% 155B
22.82x3.77x12.94x1.89% 86.93B
29.08x2.1x15.72x0.8% 80.84B
23.59x5.07x17.31x2.4% 76.93B
20.11x1.61x11.42x1.24% 68.83B
30.34x3.81x17.56x3.01% 66.43B
46.57x2.85x14.68x2.69% 26.71B
Average 27.27x 3.04x 14.62x 1.64% 205.58B
Weighted average by Cap. 22.47x 2.93x 14.31x 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

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