Financials TRC Synergy

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-05-19 pm EDT			5-day change	1st Jan Change
0.505 ^MYR	-0.98%		+3.06%	+36.49%

Mar. 01	TRC Synergy Berhad Announces Resignation of Tan Sri Dato' Seri Dr Ahmad Kamarulzaman Bin Hj Ahmad Badaruddin as Independent and Non Executive Chairman of Audit Committee	CI
Mar. 01	TRC Synergy Berhad Announces Redesignation of Tan Sri Dato' Seri Dr Ahmad Kamarulzaman Bin Hj Ahmad Badaruddin from Independent Director to Independent and Non Executive Chairman	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	153.2	141.4	174.4	240.4	-	-
Enterprise Value (EV) ¹	153.2	25.97	-137.3	240.4	240.4	240.4
P/E ratio	7.4 x	6.34 x	6.88 x	13.6 x	11.9 x	10.9 x
Yield	-	4%	-	2.45%	2.55%	2.94%
Capitalization / Revenue	-	0.21 x	0.26 x	0.38 x	0.34 x	0.32 x
EV / Revenue	-	0.21 x	0.26 x	0.38 x	0.34 x	0.32 x
EV / EBITDA	-	3.83 x	4.58 x	6.79 x	6.23 x	6.44 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	-	0.3 x	0.32 x	0.46 x	0.46 x	-
Nbr of stocks (in thousands)	471,289	471,289	471,289	471,289	-	-
Reference price ²	0.3250	0.3000	0.3700	0.5100	0.5100	0.5100
Announcement Date	4/29/22	2/28/23	2/28/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	677.4	678.7	634.8	704.4	750
EBITDA ¹	-	36.88	38.08	35.4	38.6	37.3
EBIT ¹	-	22.24	25.58	20.1	23.05	20.9
Operating Margin	-	3.28%	3.77%	3.17%	3.27%	2.79%
Earnings before Tax (EBT) ¹	-	22.56	32.21	22.95	26.4	27.8
Net income ¹	20.7	22.3	53.89	18.05	20.6	22.8
Net margin	-	3.29%	7.94%	2.84%	2.92%	3.04%
EPS ²	0.0439	0.0473	0.0538	0.0375	0.0430	0.0470
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	0.0120	-	0.0125	0.0130	0.0150
Announcement Date	4/29/22	2/28/23	2/28/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	115	312	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	2%	10.4%	3.4%	3.8%	3.9%
ROA (Net income/ Total Assets)	-	4.87%	5.11%	1.55%	1.8%	-
Assets ¹	-	457.8	1,054	1,165	1,144	-
Book Value Per Share ²	-	0.9900	1.150	1.100	1.100	-
Cash Flow per Share ²	-	-0.0600	0.4300	0.0200	0.0300	-
Capex ¹	-	1.21	1.71	13.5	13.5	-
Capex / Sales	-	0.18%	0.25%	2.13%	1.92%	-
Announcement Date	4/29/22	2/28/23	2/28/24	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.51 MYR

Average target price

0.56 MYR

Spread / Average Target

+9.80%

	1st Jan change	Capi.
TRC SYNERGY	+37.84%	51.27M
VINCI	+1.72%	71.36B
LARSEN & TOUBRO LIMITED	-1.78%	57.16B
QUANTA SERVICES, INC.	+22.52%	38.71B
CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED	+21.83%	33.77B
FERROVIAL SE	+11.21%	29.48B
CHINA RAILWAY GROUP LIMITED	+20.42%	21.93B
WSP GLOBAL INC.	+11.86%	19.04B
CHINA COMMUNICATIONS CONSTRUCTION COMPANY LIMITED	+39.37%	17.99B
EMCOR GROUP, INC.	+75.63%	17.78B