Company Valuation: PETRONAS Gas

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,617 33,876 34,430 34,984 35,894 34,311 - -
Change - -4.89% 1.64% 1.61% 2.6% -4.41% - -
Enterprise Value (EV) 1 35,282 33,685 34,054 34,237 35,480 32,900 32,326 32,212
Change - -4.52% 1.1% 0.54% 3.63% -7.27% -1.74% -0.35%
P/E 17.9x 20.6x 18.9x 19.1x 20.8x 18.5x 18x 17.8x
PBR 2.72x 2.58x 2.54x 2.51x 2.52x 2.34x 2.27x 2.22x
PEG - -1.2x 1.8x 21.97x -3.5x 2.48x 6.03x 24.01x
Capitalization / Revenue 6.31x 5.5x 5.34x 5.35x 5.63x 5.22x 5.17x 5.13x
EV / Revenue 6.25x 5.47x 5.28x 5.24x 5.57x 5x 4.87x 4.82x
EV / EBITDA 9.92x 10.4x 10.4x 10.2x 10.2x 9.23x 8.87x 8.63x
EV / EBIT 13.3x 14.5x 15x 14.9x 15.8x 14.1x 13.6x 13.3x
EV / FCF 16.1x 19.2x 18.5x 18.2x 40.8x 18x 18x 17.9x
FCF Yield 6.2% 5.22% 5.4% 5.48% 2.45% 5.57% 5.57% 5.59%
Dividend per Share 2 0.82 0.72 0.72 0.72 0.72 0.7297 0.7468 0.7532
Rate of return 4.56% 4.21% 4.14% 4.07% 3.97% 4.21% 4.31% 4.34%
EPS 2 1.005 0.8316 0.92 0.928 0.8728 0.9379 0.966 0.9731
Distribution rate 81.6% 86.6% 78.3% 77.6% 82.5% 77.8% 77.3% 77.4%
Net sales 1 5,649 6,160 6,445 6,538 6,374 6,573 6,635 6,684
EBITDA 1 3,558 3,245 3,267 3,355 3,473 3,565 3,645 3,731
EBIT 1 2,660 2,320 2,274 2,303 2,249 2,331 2,384 2,426
Net income 1 2,111 1,645 1,820 1,836 1,727 1,865 1,928 1,951
Net Debt 1 -335.3 -190.5 -375.5 -747.3 -414.1 -1,411 -1,985 -2,100
Reference price 2 18.00 17.12 17.40 17.68 18.14 17.34 17.34 17.34
Nbr of stocks (in thousands) 1,978,732 1,978,732 1,978,732 1,978,732 1,978,732 1,978,732 - -
Announcement Date 22/02/22 16/02/23 27/02/24 21/02/25 24/02/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.57x5.03x9.27x4.19% 8.34B
13.59x1.99x7.22x6.4% 30.32B
20.14x7.44x14.57x2.37% 28.39B
13.23x1.39x9.1x2.22% 12.84B
10.88x1.19x7.5x1.65% 12.76B
15.25x0.94x10.99x3.22% 12.12B
57.33x8.15x12.28x5.64% 9.55B
10.26x3.76x6.37x2.86% 7.21B
Average 19.91x 3.74x 9.66x 3.57% 15.19B
Weighted average by Cap. 18.54x 3.81x 10.03x 3.78%

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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  4. Valuation PETRONAS Gas
-40%: Exceptional extension
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