Financials Malaysian Pacific Industries

Equities

MPI

MYL3867OO008

Semiconductors

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-07-04 pm EDT			5-day change	1st Jan Change
39.4 ^MYR	-0.76%		+1.49%	+39.72%

May. 17	Malaysian Pacific Industries Turns Profitable in Fiscal Q3	MT
May. 16	Malaysian Pacific Industries Berhad Announces Second Interim Single Tier Dividend for the Financial Year Ending 30 Jun 2024, Payable on 26 June 2024	CI

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,752	2,097	7,698	5,555	5,533	7,837	-	-
Enterprise Value (EV) ¹	1,039	1,297	6,797	4,810	4,731	6,732	6,432	6,152
P/E ratio	13.7 x	13.7 x	28.2 x	16.9 x	90.2 x	53.1 x	31.3 x	24.9 x
Yield	2.93%	2.45%	0.77%	1.25%	1.26%	0.85%	0.92%	0.98%
Capitalization / Revenue	1.18 x	1.34 x	3.87 x	2.3 x	2.71 x	3.63 x	3.25 x	3.02 x
EV / Revenue	0.7 x	0.83 x	3.42 x	1.99 x	2.31 x	3.12 x	2.67 x	2.37 x
EV / EBITDA	2.86 x	3.34 x	12.2 x	6.54 x	10.8 x	12.2 x	9.33 x	7.8 x
EV / FCF	4.96 x	7.47 x	94 x	-211 x	35.1 x	20.3 x	18.4 x	14.6 x
FCF Yield	20.2%	13.4%	1.06%	-0.47%	2.85%	4.93%	5.42%	6.84%
Price to Book	1.17 x	1.52 x	4.52 x	2.78 x	2.9 x	3.93 x	3.67 x	3.37 x
Nbr of stocks (in thousands)	190,056	190,604	198,402	198,402	198,880	198,913	-	-
Reference price ²	9.220	11.00	38.80	28.00	27.82	39.40	39.40	39.40
Announcement Date	8/28/19	8/28/20	8/30/21	8/29/22	10/3/23	-	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,488	1,565	1,988	2,416	2,045	2,158	2,409	2,596
EBITDA ¹	362.7	388.9	557.8	735.5	437.6	552	689.7	788.7
EBIT ¹	188.8	209.6	358.7	442.3	107.2	227	366.6	451.8
Operating Margin	12.69%	13.4%	18.04%	18.3%	5.24%	10.52%	15.22%	17.41%
Earnings before Tax (EBT) ¹	189.8	211.5	357.6	439.4	124.3	243.2	379.1	471.9
Net income ¹	128.3	153	271.8	328.9	61.33	151.6	256.2	322.7
Net margin	8.62%	9.78%	13.67%	13.61%	3%	7.02%	10.64%	12.43%
EPS ²	0.6753	0.8042	1.375	1.656	0.3084	0.7425	1.257	1.583
Free Cash Flow ¹	209.4	173.8	72.28	-22.84	134.6	331.7	348.8	421.1
FCF margin	14.08%	11.11%	3.63%	-0.95%	6.59%	15.37%	14.48%	16.22%
FCF Conversion (EBITDA)	57.74%	44.69%	12.96%	-	30.77%	60.09%	50.57%	53.39%
FCF Conversion (Net income)	163.21%	113.58%	26.59%	-	219.52%	218.87%	136.13%	130.5%
Dividend per Share ²	0.2700	0.2700	0.3000	0.3500	0.3500	0.3367	0.3617	0.3850
Announcement Date	8/28/19	8/28/20	8/30/21	8/29/22	10/3/23	-	-	-

¹MYR in Million²MYR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2023 Q2	2023 Q3	2023 Q4	2024 Q2
Net sales	-	-	-	-
EBITDA	-	-	-	-
EBIT	-	-9.238	10.87	-
Operating Margin	-	-	-	-
Earnings before Tax (EBT)	-	-3.389	16.65	-
Net income ¹	18.33	-17.83	8.137	32.15
Net margin	-	-	-	-
EPS ²	0.0922	-0.0897	0.0409	0.1617
Dividend per Share	-	-	-	-
Announcement Date	2/16/23	5/18/23	10/3/23	2/21/24

¹MYR in Million²MYR

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	713	799	901	745	801	1,106	1,405	1,685
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	209	174	72.3	-22.8	135	332	349	421
ROE (net income / shareholders' equity)	10.4%	11.5%	17.7%	17.8%	3.06%	7.3%	11.5%	12.9%
ROA (Net income/ Total Assets)	7.54%	8.23%	11.9%	11.6%	2.04%	5.33%	7.77%	8.37%
Assets ¹	1,702	1,859	2,287	2,842	3,012	2,842	3,299	3,857
Book Value Per Share ²	7.890	7.260	8.580	10.10	9.600	10.00	10.70	11.70
Cash Flow per Share ²	2.130	2.220	2.870	-	1.940	3.000	3.000	-
Capex ¹	195	249	495	730	252	351	383	361
Capex / Sales	13.08%	15.92%	24.89%	30.2%	12.31%	16.24%	15.88%	13.9%
Announcement Date	8/28/19	8/28/20	8/30/21	8/29/22	10/3/23	-	-	-

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

Ratings for Malaysian Pacific Industries

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

39.4 MYR

Average target price

41.18 MYR

Spread / Average Target

+4.51%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Semiconductors

	1st Jan change	Capi.
MALAYSIAN PACIFIC INDUSTRIES	+39.72%	1.66B
NVIDIA CORPORATION	+158.95%	3,092B
TSMC (TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY)	+74.54%	803B
BROADCOM INC.	+56.40%	793B
AMD (ADVANCED MICRO DEVICES)	+21.22%	278B
QUALCOMM, INC.	+43.74%	230B
ARM HOLDINGS PLC	+145.79%	188B
TEXAS INSTRUMENTS INCORPORATED	+18.19%	181B
MICRON TECHNOLOGY, INC.	+53.14%	146B
INTEL CORPORATION	-32.36%	136B

Other Semiconductors