Company Valuation: Master-Pack Group

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 107.1 91.22 128.4 165.5 191.7 101
Change - -14.8% 40.72% 28.94% 15.84% -47.29%
Enterprise Value (EV) 1 79.59 55.55 76.92 93.63 107.5 17.39
Change - -30.21% 38.48% 21.72% 14.85% -83.83%
P/E 9.5x 6.31x 5.88x 6.72x 10.5x 21x
PBR 0.94x 0.72x 0.9x 0.98x 1.1x 0.59x
PEG - 0.2x 0.1x 0.5x -0.4x -0.3x
Capitalization / Revenue 0.75x 0.59x 0.8x 0.98x 1.23x 0.97x
EV / Revenue 0.56x 0.36x 0.48x 0.55x 0.69x 0.17x
EV / EBITDA 5.14x 2.68x 2.82x 3.06x 4.23x 2.01x
EV / EBIT 6.17x 3.07x 3.12x 3.45x 5.05x 3.65x
EV / FCF 3.5x 8.14x 5.2x 4.73x 5.3x 1.67x
FCF Yield 28.6% 12.3% 19.2% 21.1% 18.9% 60%
Dividend per Share 2 0.04 0.04 0.1 0.12 0.18 0.08
Rate of return 2.04% 2.4% 4.26% 3.96% 5.13% 4.32%
EPS 2 0.2064 0.2647 0.3998 0.4506 0.3331 0.0879
Distribution rate 19.4% 15.1% 25% 26.6% 54% 91%
Net sales 1 141.9 154 161 168.8 156.5 103.8
EBITDA 1 15.5 20.69 27.25 30.65 25.42 8.646
EBIT 1 12.9 18.1 24.64 27.13 21.28 4.768
Net income 1 11.28 14.46 21.84 24.61 18.19 4.802
Net Debt 1 -27.46 -35.67 -51.44 -71.87 -84.19 -83.66
Reference price 2 1.960 1.670 2.350 3.030 3.510 1.850
Nbr of stocks (in thousands) 54,620 54,620 54,620 54,620 54,620 54,620
Announcement Date 27/04/21 22/04/22 19/04/23 23/04/24 25/04/25 23/04/26
1MYR in Million2MYR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 23.78M
21.32x1.17x7.33x3.96% 24.61B
24.5x2.46x11.78x2.16% 21.39B
29.34x1.18x9.02x4.67% 20.52B
25.31x2.89x16.95x2.7% 6.81B
21.67x2.29x9.51x1.87% 6.25B
13.87x1.24x7.21x3.89% 5.45B
23.63x0.79x7.04x2.61% 4.15B
7.33x1.29x9.31x1.3% 3.88B
21.39x1.24x9.02x2.32% 3.51B
Average 20.93x 1.62x 9.68x 2.83% 9.66B
Weighted average by Cap. 23.15x 1.65x 9.62x 3.26%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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