AXIATA GROUP |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.75 MYR | +1.10% |
|
+7.84% | +15.55% |
| Apr. 25 | Axiata, Sinar Mas Reportedly Move Closer to $3.5 Billion Telco Merger in Indonesia | CI |
| Apr. 25 | Axiata, Sinar Mas closer to $3.5 billion telco merger in Indonesia, Bloomberg says | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 37,937 | 34,294 | 38,168 | 28,358 | 21,846 | 25,250 | - | - |
| Enterprise Value (EV) 1 | 50,539 | 54,474 | 60,420 | 28,358 | 42,076 | 51,139 | 50,570 | 51,673 |
| P/E ratio | 25.9 x | 93.5 x | 46.7 x | 2.91 x | -183 x | 37.2 x | 28.6 x | 22.4 x |
| Yield | 2.29% | 1.87% | 2.28% | - | 4.2% | 3.59% | 3.69% | 4.07% |
| Capitalization / Revenue | 1.54 x | 1.42 x | 1.47 x | 1.03 x | 0.93 x | 1.09 x | 1.05 x | 1.03 x |
| EV / Revenue | 2.06 x | 2.25 x | 2.33 x | 1.03 x | 1.79 x | 2.2 x | 2.09 x | 2.1 x |
| EV / EBITDA | 4.76 x | 5.11 x | 5.3 x | 2.28 x | 4.37 x | 4.86 x | 4.58 x | 4.5 x |
| EV / FCF | 24.6 x | 21.1 x | 25.2 x | - | 57.1 x | 16.1 x | 14.4 x | 13.9 x |
| FCF Yield | 4.06% | 4.75% | 3.97% | - | 1.75% | 6.21% | 6.97% | 7.2% |
| Price to Book | 2.33 x | 1.95 x | 2.12 x | - | 0.99 x | 1.14 x | 1.14 x | 1.13 x |
| Nbr of stocks (in thousands) | 9,163,573 | 9,169,541 | 9,174,987 | 9,177,237 | 9,179,085 | 9,181,918 | - | - |
| Reference price 2 | 4.140 | 3.740 | 4.160 | 3.090 | 2.380 | 2.750 | 2.750 | 2.750 |
| Announcement Date | 2/21/20 | 2/25/21 | 2/22/22 | 2/23/23 | 2/22/24 | - | - | - |
1MYR in Million2MYR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 24,583 | 24,203 | 25,901 | 27,522 | 23,489 | 23,241 | 24,152 | 24,555 |
| EBITDA 1 | 10,619 | 10,657 | 11,404 | 12,434 | 9,629 | 10,515 | 11,036 | 11,486 |
| EBIT 1 | 3,512 | 2,175 | 3,309 | 4,383 | 2,429 | 2,798 | 3,176 | 3,541 |
| Operating Margin | 14.29% | 8.98% | 12.78% | 15.92% | 10.34% | 12.04% | 13.15% | 14.42% |
| Earnings before Tax (EBT) 1 | 2,872 | 1,171 | 2,174 | 11,095 | 793.4 | 1,364 | 1,776 | 2,057 |
| Net income 1 | 1,458 | 365.2 | 818.9 | 9,766 | -125.2 | 669.8 | 874.9 | 1,025 |
| Net margin | 5.93% | 1.51% | 3.16% | 35.48% | -0.53% | 2.88% | 3.62% | 4.18% |
| EPS 2 | 0.1600 | 0.0400 | 0.0890 | 1.063 | -0.0130 | 0.0739 | 0.0961 | 0.1227 |
| Free Cash Flow 1 | 2,052 | 2,587 | 2,401 | - | 736.4 | 3,177 | 3,523 | 3,722 |
| FCF margin | 8.35% | 10.69% | 9.27% | - | 3.13% | 13.67% | 14.58% | 15.16% |
| FCF Conversion (EBITDA) | 19.33% | 24.27% | 21.05% | - | 7.65% | 30.21% | 31.92% | 32.4% |
| FCF Conversion (Net income) | 140.81% | 708.4% | 293.14% | - | - | 474.28% | 402.6% | 363.04% |
| Dividend per Share 2 | 0.0950 | 0.0700 | 0.0950 | - | 0.1000 | 0.0987 | 0.1016 | 0.1119 |
| Announcement Date | 2/21/20 | 2/25/21 | 2/22/22 | 2/23/23 | 2/22/24 | - | - | - |
1MYR in Million2MYR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 6,543 | 6,904 | 6,470 | 6,704 | 7,260 | 7,087 | - | - | - | - | - | - | - |
| EBITDA | 3,032 | 3,042 | - | 3,011 | 3,204 | 3,321 | - | - | - | - | - | - | - |
| EBIT | 1,048 | 809.4 | 854.2 | 987.2 | 1,155 | 1,111 | - | - | - | - | - | - | - |
| Operating Margin | 16.01% | 11.72% | 13.2% | 14.73% | 15.91% | 15.68% | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | 658.3 | 548.8 | 253.2 | 286.7 | 268.6 | 10,286 | - | - | - | - | - | - | - |
| Net income | 349.6 | 116 | -42.97 | -166.6 | -52.4 | 9,967 | - | -797.4 | - | - | - | - | - |
| Net margin | 5.34% | 1.68% | -0.66% | -2.48% | -0.72% | 140.64% | - | - | - | - | - | - | - |
| EPS | 0.0380 | 0.0130 | -0.005000 | -0.0120 | -0.006000 | 1.085 | - | -0.0870 | - | - | - | - | - |
| Dividend per Share 1 | - | 0.0550 | - | 0.0550 | 0.0500 | - | 0.0500 | - | 0.0500 | 0.0346 | 0.0346 | 0.0375 | 0.0375 |
| Announcement Date | 11/26/21 | 2/22/22 | 5/25/22 | 8/26/22 | 11/25/22 | 2/23/23 | 8/29/23 | 11/29/23 | 2/22/24 | - | - | - | - |
1MYR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 12,602 | 20,180 | 22,252 | - | 20,230 | 25,888 | 25,320 | 26,422 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.187 x | 1.894 x | 1.951 x | - | 2.101 x | 2.462 x | 2.294 x | 2.3 x |
| Free Cash Flow 1 | 2,052 | 2,587 | 2,401 | - | 736 | 3,177 | 3,523 | 3,722 |
| ROE (net income / shareholders' equity) | 5.7% | 5.12% | 5.42% | - | -0.54% | 2.97% | 4.14% | 5.21% |
| ROA (Net income/ Total Assets) | 1.47% | 1.29% | 1.37% | - | -0.16% | 0.78% | 1.16% | 1.26% |
| Assets 1 | 99,060 | 28,388 | 59,591 | - | 80,048 | 86,278 | 75,734 | 81,601 |
| Book Value Per Share 2 | 1.770 | 1.920 | 1.960 | - | 2.400 | 2.420 | 2.420 | 2.440 |
| Cash Flow per Share 2 | 0.9600 | 0.8000 | 0.9700 | - | 0.8600 | 0.8500 | 0.9500 | 1.040 |
| Capex 1 | 6,731 | 4,766 | 6,488 | - | 7,127 | 6,451 | 6,585 | 6,433 |
| Capex / Sales | 27.38% | 19.69% | 25.05% | - | 30.34% | 27.76% | 27.26% | 26.2% |
| Announcement Date | 2/21/20 | 2/25/21 | 2/22/22 | 2/23/23 | 2/22/24 | - | - | - |
1MYR in Million2MYR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
23
Last Close Price
2.75
MYR
Average target price
2.773
MYR
Spread / Average Target
+0.84%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.55% | 5.3B | |
| +2.26% | 193B | |
| -0.18% | 120B | |
| +23.66% | 72.46B | |
| -2.36% | 57.97B | |
| +24.90% | 23.92B | |
| +0.76% | 23.3B | |
| +9.95% | 16.07B | |
| -10.14% | 15.66B | |
| +4.97% | 9.6B |
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