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 1,477 - -
Change - -0.93% -8.88% 26.98% -9.41% -4.57% - -
Enterprise Value (EV) 1 2,325 1,662 1,398 1,703 1,445 1,222 1,084 938.7
Change - -28.5% -15.92% 21.87% -15.18% -15.39% -11.35% -13.38%
P/E 8.82x 3.23x 14.2x 12.3x 8.75x 10.2x 9.9x 9.78x
PBR 0.91x 0.78x 0.66x 0.86x 0.84x 0.72x 0.69x 0.7x
PEG - 0x -0.2x 0.3x 0.2x -0.6x 2.8x 8.11x
Capitalization / Revenue 1.25x 1.13x 1.26x 1.68x 1.46x 1.41x 1.38x 1.38x
EV / Revenue 1.96x 1.27x 1.31x 1.67x 1.36x 1.17x 1.01x 0.88x
EV / EBITDA 6.38x 4.88x 4.74x 4.83x 3.58x 3.62x 3.25x 2.72x
EV / EBIT 9.19x 6.96x 7.23x 7.6x 4.92x 5.41x 4.64x 3.96x
EV / FCF 6.67x 11.5x 8.31x 9.14x 5.81x 5.22x 4.87x 4.05x
FCF Yield 15% 8.69% 12% 10.9% 17.2% 19.2% 20.5% 24.7%
Dividend per Share 2 - 0.105 0.025 0.025 0.05 0.0412 0.0422 0.0492
Rate of return - 9.81% 2.56% 2% 4.1% 3.46% 3.55% 4.13%
EPS 2 0.1225 0.3315 0.0688 0.1019 0.1395 0.1161 0.1202 0.1217
Distribution rate - 31.7% 36.3% 24.5% 35.8% 35.5% 35.1% 40.4%
Net sales 1 1,189 1,308 1,067 1,020 1,062 1,049 1,071 1,070
EBITDA 1 364.1 341 294.6 352.4 403.2 338 333.3 345.4
EBIT 1 253 239 193.4 224.2 293.9 226.1 233.4 237.1
Net income 1 169 457.5 94.96 140.5 182.9 149.6 153.9 158
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 1.190 1.190 1.190
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.($)
10.25x1.17x3.62x3.46% 362M
32.1x0.96x10.48x0.86% 12.83B
8.86x1.16x9.42x4.8% 5.28B
30.14x1.95x14.76x1.31% 3.46B
12.78x1.4x6.62x1.96% 2.75B
13.76x0.78x8.58x - 1.72B
Average 17.98x 1.24x 8.91x 2.48% 4.4B
Weighted average by Cap. 23.69x 1.17x 10.21x 1.93%

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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