Company Valuation: TH Plantations

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 530.3 464 428.7 601 486.1 411 - -
Change - -12.5% -7.62% 40.21% -19.12% -15.45% - -
Enterprise Value (EV) 1 1,722 1,282 1,251 1,401 1,227 1,106 1,063 1,008
Change - -25.55% -2.4% 11.98% -12.38% -9.89% -3.93% -5.17%
P/E 7.56x 7.78x 14.7x 10.5x 6.58x 7.39x 6.99x 5.34x
PBR - - 0.6x 0.79x 0.59x 0.49x 0.47x -
PEG - -0.5x -0.3x 0.1x 0.2x -0.3x 1.24x 0.2x
Capitalization / Revenue 0.7x 0.53x 0.57x 0.68x 0.51x 0.44x 0.42x 0.4x
EV / Revenue 2.26x 1.45x 1.66x 1.6x 1.28x 1.18x 1.08x 0.98x
EV / EBITDA 5.6x 4.68x 5.92x 4.91x 4.07x 4.4x 4.16x 3.35x
EV / EBIT 7.52x 6.59x 9.26x 6.77x 5.54x 6.16x 5.39x 4.56x
EV / FCF 90x 12.7x 17.6x 11.4x 8.34x 10.1x 9.86x 8.03x
FCF Yield 1.11% 7.88% 5.67% 8.8% 12% 9.93% 10.1% 12.5%
Dividend per Share 2 - 0.03 0.02 0.03 0.03 0.0305 0.031 0.039
Rate of return - 5.71% 4.12% 4.41% 5.45% 6.56% 6.67% 8.39%
EPS 2 0.0794 0.0675 0.0329 0.0647 0.0836 0.063 0.0665 0.087
Distribution rate - 44.4% 60.8% 46.4% 35.9% 48.5% 46.6% 44.8%
Net sales 1 760.8 881.3 752 877.7 961.2 939.8 983.3 1,024
EBITDA 1 307.4 273.9 211.3 285.3 301.5 251.6 255.7 301.1
EBIT 1 228.9 194.6 135.1 207 221.5 179.6 197.3 221.1
Net income 1 70.17 68.77 46.62 75.18 91.8 55.85 58.65 77.3
Net Debt 1 1,191 817.8 822.3 799.8 741.3 695.1 651.6 596.7
Reference price 2 0.6000 0.5250 0.4850 0.6800 0.5500 0.4650 0.4650 0.4650
Nbr of stocks (in thousands) 883,851 883,851 883,851 883,851 883,851 883,851 - -
Announcement Date 22/2/22 27/2/23 28/2/24 28/2/25 26/2/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
7.47x1.18x4.41x6.49% 102M
21.64x2.92x14.4x3.79% 257B
19.25x2.47x14.75x3.32% 78.97B
16.89x1.76x10.01x3.7% 45.34B
14.28x0.51x9.2x2.71% 37.22B
19.85x3.04x12.34x3.53% 32.91B
35.11x3.04x17.71x1.06% 30.94B
25.25x5.29x16.86x3.32% 28.79B
-8.41x1.84x9.19x6.72% 28.29B
17.88x1.71x12.11x4.77% 27.22B
Average 16.92x 2.38x 12.10x 3.94% 56.66B
Weighted average by Cap. 19.57x 2.63x 13.57x 3.65%

Y-o-Y evolution of P/E

Valuation ratios - P/E - TH Plantations

Historical PBR trend

Valuation ratios - PBR - TH Plantations

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - TH Plantations

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - TH Plantations


Year-on-year evolution of the Yield

Valuation ratios - Yield - TH Plantations
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