Company Valuation: TSH Resources

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,491 1,477 1,346 1,709 1,548 1,452 - -
Change - -0.93% -8.88% 26.98% -9.41% -6.17% - -
Enterprise Value (EV) 1 2,325 1,662 1,398 1,703 1,445 1,198 1,059 913.9
Change - -28.5% -15.92% 21.87% -15.18% -17.11% -11.59% -13.69%
P/E 8.82x 3.23x 14.2x 12.3x 8.75x 10.2x 9.87x 9.62x
PBR 0.91x 0.78x 0.66x 0.86x 0.84x 0.72x 0.69x 0.69x
PEG - 0x -0.2x 0.3x 0.2x -0.6x 2.77x 3.6x
Capitalization / Revenue 1.25x 1.13x 1.26x 1.68x 1.46x 1.4x 1.37x 1.36x
EV / Revenue 1.96x 1.27x 1.31x 1.67x 1.36x 1.15x 1x 0.85x
EV / EBITDA 6.38x 4.88x 4.74x 4.83x 3.58x 3.54x 3.18x 2.65x
EV / EBIT 9.19x 6.96x 7.23x 7.6x 4.92x 5.21x 4.44x 3.85x
EV / FCF 6.67x 11.5x 8.31x 9.14x 5.81x 5.11x 4.76x 3.95x
FCF Yield 15% 8.69% 12% 10.9% 17.2% 19.6% 21% 25.3%
Dividend per Share 2 - 0.105 0.025 0.025 0.05 0.0418 0.0422 0.0492
Rate of return - 9.81% 2.56% 2% 4.1% 3.57% 3.61% 4.21%
EPS 2 0.1225 0.3315 0.0688 0.1019 0.1395 0.1144 0.1185 0.1217
Distribution rate - 31.7% 36.3% 24.5% 35.8% 36.5% 35.6% 40.4%
Net sales 1 1,189 1,308 1,067 1,020 1,062 1,039 1,061 1,070
EBITDA 1 364.1 341 294.6 352.4 403.2 338 333.3 345.4
EBIT 1 253 239 193.4 224.2 293.9 229.8 238.3 237.1
Net income 1 169 457.5 94.96 140.5 182.9 147.9 152 158
Net Debt 1 834.2 185.5 51.98 -5.421 -103.2 -254.8 -393.6 -538.6
Reference price 2 1.080 1.070 0.975 1.250 1.220 1.170 1.170 1.170
Nbr of stocks (in thousands) 1,380,174 1,380,174 1,380,174 1,367,007 1,268,857 1,241,415 - -
Announcement Date 24/02/22 23/02/23 22/02/24 27/02/25 25/02/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.47x1.03x11.21x0.8% 13.88B
9.3x1.15x9.36x4.49% 5.49B
30.61x1.9x14.51x1.3% 3.57B
12.61x1.38x6.54x1.99% 2.73B
13.28x0.76x8.34x - 1.68B
31.62x0.75x7.86x0.47% 1.47B
Average 21.98x 1.16x 9.64x 1.81% 4.8B
Weighted average by Cap. 25.75x 1.16x 10.49x 1.72%

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