Company Valuation: TPC Plus

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 56.02 58.56 61.65 95.55 107.9 94.01
Change - 4.55% 5.26% 55% 12.9% -12.86%
Enterprise Value (EV) 1 116.4 113.7 102.7 125.6 122.6 115
Change - -2.31% -9.67% 22.23% -2.4% -6.14%
P/E -2.37x -1.97x 8.42x 2.2x 5.9x 6.72x
PBR 0.84x 0.93x 0.88x 0.84x 0.86x 0.68x
PEG - 4.19x -0x 0x -0.1x -0.3x
Capitalization / Revenue 0.23x 0.19x 0.14x 0.21x 0.24x 0.19x
EV / Revenue 0.48x 0.38x 0.23x 0.28x 0.27x 0.24x
EV / EBITDA -6.61x -5.53x 11.5x 9.31x 8.49x -71.2x
EV / EBIT -4.47x -4x -125x 37.5x 45.2x -8.18x
EV / FCF 103x 24.1x 12.9x -3.25x 17.9x -41.4x
FCF Yield 0.97% 4.16% 7.76% -30.8% 5.6% -2.41%
Dividend per Share 2 - - - - 0.02 0.005
Rate of return - - - - 5.71% 1.64%
EPS 2 -0.097 -0.0966 0.0237 0.1408 0.0593 0.0454
Distribution rate - - - - 33.7% 11%
Net sales 1 241.8 302.2 438.1 452.6 455.4 487.4
EBITDA 1 -17.63 -20.56 8.916 13.49 14.44 -1.617
EBIT 1 -26.05 -28.42 -0.8245 3.352 2.714 -14.06
Net income 1 -22.75 -28.45 7.318 43.41 18.28 13.98
Net Debt 1 60.41 55.18 41.09 30.03 14.69 21.04
Reference price 2 0.2300 0.1900 0.2000 0.3100 0.3500 0.3050
Nbr of stocks (in thousands) 243,557 308,233 308,233 308,233 308,233 308,233
Announcement Date 4/30/21 4/29/22 4/28/23 4/30/24 4/30/25 4/30/26
1MYR in Million2MYR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 20.87M
9.81x0.93x4.92x4.34% 3.68B
16.54x0.8x8.68x0.83% 2.13B
21.32x - - 4.41% 1.7B
13.82x0.64x6.58x4.64% 547M
Average 15.37x 0.79x 6.73x 3.56% 1.61B
Weighted average by Cap. 14.29x 0.87x 6.32x 3.45%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

-40%: Exceptional extension
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