VALUEMAX GROUP LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.395 SGD | +1.28% |
|
+1.28% | +23.44% |
| Apr. 19 | ValueMax Raises SG$20 Million from Commercial Paper Offering | MT |
| Apr. 10 | ValueMax Launches First Series of 5-Month Digital Securities | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 149.4 | 177.7 | 192.1 | 247.9 | 252.4 | 257.2 |
| Enterprise Value (EV) 1 | 418.4 | 490.6 | 499.1 | 686.4 | 862.5 | 865.8 |
| P/E ratio | 7.36 x | 6.84 x | 5.5 x | 5.56 x | 5.56 x | 4.56 x |
| Yield | 4.75% | 5.03% | 5.45% | 5.3% | 5.8% | 6.88% |
| Capitalization / Revenue | 0.72 x | 0.75 x | 0.7 x | 0.9 x | 0.88 x | 0.78 x |
| EV / Revenue | 2 x | 2.08 x | 1.81 x | 2.49 x | 3 x | 2.62 x |
| EV / EBITDA | 16.1 x | 15.2 x | 13.6 x | 14.1 x | 16.3 x | 13.1 x |
| EV / FCF | 136 x | -81 x | -58.6 x | -19.7 x | -3.27 x | -14.7 x |
| FCF Yield | 0.74% | -1.23% | -1.71% | -5.08% | -30.6% | -6.8% |
| Price to Book | 0.77 x | 0.82 x | 0.77 x | 0.77 x | 0.69 x | 0.61 x |
| Nbr of stocks (in thousands) | 533,398 | 555,311 | 582,006 | 698,407 | 731,589 | 803,661 |
| Reference price 2 | 0.2800 | 0.3200 | 0.3300 | 0.3550 | 0.3450 | 0.3200 |
| Announcement Date | 4/15/19 | 4/6/20 | 4/8/21 | 4/3/22 | 4/5/23 | 4/1/24 |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 208.7 | 235.9 | 276.1 | 275.5 | 287.1 | 331 |
| EBITDA 1 | 25.95 | 32.3 | 36.8 | 48.6 | 53.04 | 65.89 |
| EBIT 1 | 24.13 | 30.53 | 35.06 | 47.01 | 51.48 | 64.31 |
| Operating Margin | 11.56% | 12.94% | 12.7% | 17.06% | 17.94% | 19.43% |
| Earnings before Tax (EBT) 1 | 23.6 | 31.27 | 40.45 | 49.6 | 53.33 | 63.43 |
| Net income 1 | 20.29 | 25.46 | 33.87 | 41.51 | 44.42 | 52.85 |
| Net margin | 9.72% | 10.79% | 12.27% | 15.07% | 15.48% | 15.97% |
| EPS 2 | 0.0380 | 0.0468 | 0.0600 | 0.0638 | 0.0621 | 0.0702 |
| Free Cash Flow 1 | 3.08 | -6.058 | -8.515 | -34.87 | -263.6 | -58.89 |
| FCF margin | 1.48% | -2.57% | -3.08% | -12.66% | -91.81% | -17.79% |
| FCF Conversion (EBITDA) | 11.87% | - | - | - | - | - |
| FCF Conversion (Net income) | 15.18% | - | - | - | - | - |
| Dividend per Share 2 | 0.0133 | 0.0161 | 0.0180 | 0.0188 | 0.0200 | 0.0220 |
| Announcement Date | 4/15/19 | 4/6/20 | 4/8/21 | 4/3/22 | 4/5/23 | 4/1/24 |
1SGD in Million2SGD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 269 | 313 | 307 | 439 | 610 | 609 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 10.37 x | 9.689 x | 8.345 x | 9.022 x | 11.5 x | 9.238 x |
| Free Cash Flow 1 | 3.08 | -6.06 | -8.52 | -34.9 | -264 | -58.9 |
| ROE (net income / shareholders' equity) | 10.9% | 12.4% | 14.5% | 14.5% | 12.9% | 13.4% |
| ROA (Net income/ Total Assets) | 3.29% | 3.63% | 3.81% | 4.23% | 3.56% | 3.85% |
| Assets 1 | 615.9 | 701.3 | 888 | 982 | 1,249 | 1,372 |
| Book Value Per Share 2 | 0.3600 | 0.3900 | 0.4300 | 0.4600 | 0.5000 | 0.5300 |
| Cash Flow per Share 2 | 0.0200 | 0.0200 | 0.0200 | 0.0200 | 0.0200 | 0.0200 |
| Capex 1 | 0.87 | 0.35 | 0.56 | 2.36 | 0.47 | 5.23 |
| Capex / Sales | 0.42% | 0.15% | 0.2% | 0.86% | 0.16% | 1.58% |
| Announcement Date | 4/15/19 | 4/6/20 | 4/8/21 | 4/3/22 | 4/5/23 | 4/1/24 |
1SGD in Million2SGD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +23.44% | 234M | |
| +18.44% | 5.18B | |
| -5.80% | 3.15B | |
| +24.11% | 2.17B | |
| -11.12% | 1.4B | |
| -51.45% | 1.03B | |
| -3.61% | 763M | |
| +17.80% | 722M | |
| -14.29% | 475M | |
| -11.64% | 434M |
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