Company Valuation: Tropicana Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,243 1,530 2,518 2,946 3,182 2,968
Change - 23.09% 64.62% 17% 8.01% -6.75%
Enterprise Value (EV) 1 4,357 4,762 5,510 5,443 4,578 4,588
Change - 9.28% 15.7% -1.21% -15.89% 0.22%
P/E 22.5x -29.5x -5.18x -16.2x -14.2x -25.3x
PBR 0.34x 0.42x 0.66x 0.74x 0.79x 0.77x
PEG - 0x -0x 0.2x -1x 0.5x
Capitalization / Revenue 1.17x 1.75x 2.67x 1.97x 2.26x 1.98x
EV / Revenue 4.1x 5.44x 5.85x 3.65x 3.25x 3.06x
EV / EBITDA 16.2x 58.7x -20.9x 70.5x -25.8x 37.4x
EV / EBIT 18.1x 97x -18.6x 117x -22.8x 45.9x
EV / FCF -9.23x -62.9x -10.1x 66.7x -4.19x 51x
FCF Yield -10.8% -1.59% -9.92% 1.5% -23.8% 1.96%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.0378 -0.036 -0.2473 -0.0801 -0.0911 -0.0487
Distribution rate - - - - - -
Net sales 1 1,063 876 942.6 1,493 1,408 1,501
EBITDA 1 268.7 81.13 -263.3 77.15 -177.2 122.6
EBIT 1 240.4 49.11 -296.3 46.37 -200.9 99.98
Net income 1 108.7 -29.54 -393.4 -129.6 -164.4 -83.29
Net Debt 1 3,115 3,232 2,992 2,497 1,396 1,620
Reference price 2 0.850 1.060 1.280 1.300 1.290 1.230
Nbr of stocks (in thousands) 1,462,047 1,443,081 1,967,261 2,266,339 2,466,953 2,412,754
Announcement Date 5/25/21 4/29/22 4/28/23 4/30/24 4/30/25 4/30/26
1MYR in Million2MYR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 699M
15.16x4.81x12.94x3.34% 43.1B
8.65x1.5x7.83x4.11% 29.9B
18.41x4.03x16.47x1.34% 28.14B
6.36x0.35x0.73x8.93% 26.95B
13.66x3.05x14.7x2.59% 24.8B
8.29x0.92x3.34x2.7% 21.2B
8.92x2.3x7.07x3.91% 21.01B
13.7x6.59x17.66x1.55% 19.85B
10.1x1.64x14.18x3.74% 18.4B
Average 11.47x 2.80x 10.55x 3.58% 23.41B
Weighted average by Cap. 11.83x 2.91x 10.59x 3.64%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Tropicana Corporation