Financials Elsoft Research

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-05-05 pm EDT			5-day change	1st Jan Change
0.55 ^MYR	+2.80%		-2.65%	+2.80%

May. 03	Elsoft Research Berhad Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Feb. 23	Elsoft Research Berhad Announces Single Tier Second Interim Dividend for the Financial Year Ending 31 December, 2023, Payable on 08 Apr. 2024	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	724.4	553.9	533.4	701.8	388.8	370.4	370.4	-
Enterprise Value (EV) ¹	724.4	553.9	533.4	701.8	388.8	370.4	370.4	370.4
P/E ratio	18.3 x	31.3 x	795 x	63.8 x	9.07 x	48.2 x	38.2 x	22.3 x
Yield	4.2%	3.61%	1.26%	1.44%	3.48%	3.74%	1.31%	2.24%
Capitalization / Revenue	9.27 x	16.5 x	29.4 x	24 x	13.8 x	23 x	17.9 x	11.1 x
EV / Revenue	9.27 x	16.5 x	29.4 x	24 x	13.8 x	23 x	17.9 x	11.1 x
EV / EBITDA	17.6 x	29.4 x	73.5 x	54.1 x	-19.9 x	41.7 x	36.3 x	22.2 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	6.41 x	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	664,553	667,380	670,992	674,793	676,124	692,425	692,425	-
Reference price ²	1.090	0.8300	0.7950	1.040	0.5750	0.5350	0.5350	0.5350
Announcement Date	2/22/19	2/26/20	2/24/21	2/18/22	2/17/23	2/23/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	78.15	33.55	18.13	29.18	28.1	16.07	20.7	33.4
EBITDA ¹	41.25	18.83	7.254	12.97	-19.57	8.882	10.2	16.7
EBIT ¹	-	-	6.453	12.24	-20.36	8.044	9.4	15.9
Operating Margin	-	-	35.6%	41.93%	-72.47%	50.05%	45.41%	47.6%
Earnings before Tax (EBT) ¹	40.26	18.31	0.988	11.49	43.63	8.37	9.9	16.5
Net income ¹	39.92	17.76	0.694	11.03	42.98	7.602	9.8	16.4
Net margin	51.08%	52.94%	3.83%	37.78%	153%	47.3%	47.34%	49.1%
EPS ²	0.0596	0.0265	0.001000	0.0163	0.0634	0.0111	0.0140	0.0240
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0458	0.0300	0.0100	0.0150	0.0200	0.0200	0.007000	0.0120
Announcement Date	2/22/19	2/26/20	2/24/21	2/18/22	2/17/23	2/23/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	15.9%	4%	10.5%	34.7%	5.55%	7%	10.9%
ROA (Net income/ Total Assets)	-	14.2%	3.67%	9.68%	31.7%	5.2%	7%	10.8%
Assets ¹	-	124.8	18.89	113.9	135.7	146.1	140	151.9
Book Value Per Share	0.1700	-	-	-	-	-	-	-
Cash Flow per Share ²	-	-	-	0.0100	-0.0300	0.0100	0.0100	0.0200
Capex	0.67	2.2	-	0.08	-	-	-	-
Capex / Sales	0.86%	6.55%	-	0.28%	-	-	-	-
Announcement Date	2/22/19	2/26/20	2/24/21	2/18/22	2/17/23	2/23/24	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

0.535 MYR

Average target price

0.575 MYR

Spread / Average Target

+7.48%

	1st Jan change	Capi.
ELSOFT RESEARCH	0.00%	78.16M
DELL TECHNOLOGIES INC.	+67.46%	89.3B
HP INC.	-5.87%	27.57B
HEWLETT PACKARD ENTERPRISE COMPANY	+0.80%	21.92B
SEAGATE TECHNOLOGY HOLDINGS PLC	+5.45%	18.37B
LENOVO GROUP LIMITED	-15.66%	14.56B
LOGITECH INTERNATIONAL S.A.	-5.27%	12.56B
TD SYNNEX CORPORATION	+10.68%	10.04B
WISTRON CORPORATION	+12.58%	9.87B
ASUSTEK COMPUTER INC.	-12.36%	9.87B