Company Valuation: Ajiya

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 165 313.1 458.2 445.6 423.6 581.2
Change - 89.76% 46.33% -2.75% -4.94% 37.21%
Enterprise Value (EV) 1 32.15 167.2 296.6 229.1 320 529.5
Change - 420.15% 77.38% -22.77% 39.69% 65.46%
P/E 139x 18.7x 15.6x 8.04x 7.33x 16.1x
PBR 0.46x 0.89x 1.14x 0.96x 0.64x 0.9x
PEG - 0x 0.2x 0.1x 4.18x -0.5x
Capitalization / Revenue 0.65x 1.17x 1.56x 1.46x 1.2x 1.9x
EV / Revenue 0.13x 0.62x 1.01x 0.75x 0.91x 1.73x
EV / EBITDA 9.52x 6.31x 16.7x 15.8x 19.3x 75.1x
EV / EBIT -5.53x 9.3x 30.7x 33.3x 33.7x 2,931x
EV / FCF 1.54x 13x 94.1x -17.9x - -11.8x
FCF Yield 65% 7.68% 1.06% -5.57% - -8.46%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.002 0.0299 0.051 0.0952 0.0968 0.0659
Distribution rate - - - - - -
Net sales 1 254.9 268.5 294 304.8 352.1 306.5
EBITDA 1 3.378 26.52 17.8 14.47 16.55 7.052
EBIT 1 -5.811 17.98 9.673 6.881 9.485 0.1806
Net income 1 1.195 17.51 29.37 55.43 57.76 38.7
Net Debt 1 -132.9 -145.9 -161.6 -216.5 -103.6 -51.71
Reference price 2 0.278 0.560 0.795 0.765 0.710 1.060
Nbr of stocks (in thousands) 594,598 559,123 576,319 582,475 596,567 548,279
Announcement Date 31/03/21 28/03/22 28/03/23 29/03/24 28/04/25 22/04/26
1MYR in Million2MYR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 137M
12.46x0.98x6.37x3.15% 41.5B
22.04x2.78x13.59x1.99% 39.44B
18.49x2.32x12.2x1.62% 15.48B
-27.07x1.62x17.38x-.--% 14.37B
17.84x3x12.24x1.41% 13.23B
15.43x0.81x5.26x3.31% 8.26B
32.33x4.37x16.18x0.96% 7.92B
20.6x3.04x12.59x0.63% 7.68B
25.9x1.49x11.85x1.59% 7.67B
Average 15.34x 2.27x 11.96x 1.63% 15.57B
Weighted average by Cap. 14.53x 2.09x 11.31x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA