Financials YTL Corporation

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-05-23 pm EDT			5-day change	1st Jan Change
3.68 ^MYR	-5.15%		-3.66%	+94.71%

May. 24	YTL Hospitality REIT Posts Higher DPU in Q1	MT
May. 24	YTL Unit's Loans Granted Reach MYR523 Million As of End-March	MT

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,837	8,839	7,181	6,414	11,403	40,356	-	-
Enterprise Value (EV) ¹	11,837	8,839	7,181	6,414	11,403	70,844	84,166	79,892
P/E ratio	47.2 x	-48.2 x	-18.9 x	12.1 x	11.1 x	19.3 x	17.5 x	15.8 x
Yield	3.46%	-	3.82%	5.13%	3.85%	2.17%	2.41%	2.54%
Capitalization / Revenue	0.66 x	0.46 x	0.41 x	0.27 x	0.39 x	1.3 x	1.17 x	1.07 x
EV / Revenue	0.66 x	0.46 x	0.41 x	0.27 x	0.39 x	2.28 x	2.44 x	2.12 x
EV / EBITDA	3.06 x	2.42 x	2.03 x	1.45 x	1.82 x	8.11 x	8.44 x	7.45 x
EV / FCF	12.8 x	7.59 x	7 x	-8.62 x	4.35 x	16.6 x	-26.8 x	13.8 x
FCF Yield	7.82%	13.2%	14.3%	-11.6%	23%	6.02%	-3.73%	7.27%
Price to Book	0.91 x	0.73 x	0.56 x	0.5 x	0.8 x	2.55 x	2.35 x	2.15 x
Nbr of stocks (in thousands)	10,568,697	10,649,857	10,964,088	10,964,086	10,964,086	10,966,386	-	-
Reference price ²	1.120	0.8300	0.6550	0.5850	1.040	3.680	3.680	3.680
Announcement Date	8/29/19	8/28/20	9/8/21	8/25/22	8/24/23	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	17,995	19,167	17,356	24,161	29,508	31,075	34,525	37,754
EBITDA ¹	3,874	3,659	3,530	4,427	6,269	8,737	9,972	10,729
EBIT ¹	2,378	2,025	1,798	2,739	4,572	6,656	7,522	8,814
Operating Margin	13.22%	10.56%	10.36%	11.34%	15.49%	21.42%	21.79%	23.35%
Earnings before Tax (EBT) ¹	1,029	430	638.5	1,559	2,668	5,176	5,780	6,633
Net income ¹	258.8	-189.9	-368.7	530.5	1,029	2,080	2,314	2,600
Net margin	1.44%	-0.99%	-2.12%	2.2%	3.49%	6.69%	6.7%	6.89%
EPS ²	0.0237	-0.0172	-0.0347	0.0484	0.0933	0.1905	0.2108	0.2330
Free Cash Flow ¹	925.2	1,165	1,026	-744.1	2,620	4,266	-3,140	5,804
FCF margin	5.14%	6.08%	5.91%	-3.08%	8.88%	13.73%	-9.09%	15.37%
FCF Conversion (EBITDA)	23.88%	31.83%	29.06%	-	41.8%	48.83%	-	54.1%
FCF Conversion (Net income)	357.43%	-	-	-	254.73%	205.09%	-	223.21%
Dividend per Share ²	0.0387	-	0.0250	0.0300	0.0400	0.0800	0.0888	0.0933
Announcement Date	8/29/19	8/28/20	9/8/21	8/25/22	8/24/23	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	30,488	43,810	39,536
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	3.49 x	4.393 x	3.685 x
Free Cash Flow ¹	925	1,165	1,026	-744	2,620	4,267	-3,140	5,805
ROE (net income / shareholders' equity)	1.9%	-1.48%	-2.92%	4.14%	7.54%	13.7%	14.1%	14.4%
ROA (Net income/ Total Assets)	0.35%	-0.26%	-0.51%	0.73%	1.34%	4.78%	5.08%	6.02%
Assets ¹	74,104	73,295	72,292	73,098	77,036	43,522	45,561	43,221
Book Value Per Share ²	1.230	1.140	1.160	1.170	1.300	1.440	1.560	1.710
Cash Flow per Share ²	-	-	-	-	-	0.4500	0.6000	0.7100
Capex ¹	1,720	1,682	1,813	1,886	2,345	2,471	2,428	2,442
Capex / Sales	9.56%	8.77%	10.45%	7.81%	7.95%	7.95%	7.03%	6.47%
Announcement Date	8/29/19	8/28/20	9/8/21	8/25/22	8/24/23	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

3.68 MYR

Average target price

3.705 MYR

Spread / Average Target

+0.68%

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