Financials Hap Seng Consolidated

Equities

HAPSENG

MYL3034OO005

Consumer Goods Conglomerates

End-of-day quote BURSA MALAYSIA 06:00:00 2024-05-14 pm EDT 5-day change 1st Jan Change
4.41 MYR -0.45% Intraday chart for Hap Seng Consolidated -1.56% -3.08%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 24,523 24,847 21,411 19,170 15,934 11,328
Enterprise Value (EV) 1 28,311 29,025 24,981 22,540 20,282 14,824
P/E ratio 21.4 x 21.4 x 28.5 x 21.3 x 16.8 x 14.2 x
Yield 3.55% 3.51% 2.91% 4.55% 4.69% 5.49%
Capitalization / Revenue 3.93 x 3.5 x 3.66 x 3.19 x 2.24 x 1.86 x
EV / Revenue 4.53 x 4.09 x 4.27 x 3.75 x 2.85 x 2.44 x
EV / EBITDA 28.1 x 22 x 18 x 13.1 x 17.1 x 17.5 x
EV / FCF -101 x 35.4 x 35 x 14.4 x 30.4 x 19.2 x
FCF Yield -0.99% 2.83% 2.86% 6.93% 3.29% 5.21%
Price to Book 3.49 x 3.39 x 2.86 x 2.55 x 2.08 x 1.44 x
Nbr of stocks (in thousands) 2,489,672 2,489,670 2,489,670 2,489,670 2,489,670 2,489,670
Reference price 2 9.850 9.980 8.600 7.700 6.400 4.550
Announcement Date 4/30/19 5/29/20 4/27/21 4/28/22 4/27/23 4/30/24
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 6,247 7,096 5,850 6,013 7,110 6,086
EBITDA 1 1,008 1,322 1,390 1,724 1,186 846.5
EBIT 1 829 1,159 1,240 1,591 1,044 685.1
Operating Margin 13.27% 16.33% 21.19% 26.46% 14.69% 11.26%
Earnings before Tax (EBT) 1 1,394 1,477 1,107 1,450 1,330 1,102
Net income 1 1,146 1,163 750.2 900.4 950.7 800.3
Net margin 18.34% 16.39% 12.82% 14.98% 13.37% 13.15%
EPS 2 0.4601 0.4671 0.3013 0.3617 0.3818 0.3215
Free Cash Flow 1 -280 820.9 714.5 1,562 668.2 772
FCF margin -4.48% 11.57% 12.21% 25.98% 9.4% 12.68%
FCF Conversion (EBITDA) - 62.09% 51.4% 90.64% 56.35% 91.2%
FCF Conversion (Net income) - 70.59% 95.24% 173.51% 70.29% 96.46%
Dividend per Share 2 0.3500 0.3500 0.2500 0.3500 0.3000 0.2500
Announcement Date 4/30/19 5/29/20 4/27/21 4/28/22 4/27/23 4/30/24
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,788 4,178 3,570 3,370 4,348 3,496
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.758 x 3.16 x 2.568 x 1.955 x 3.667 x 4.13 x
Free Cash Flow 1 -280 821 714 1,562 668 772
ROE (net income / shareholders' equity) 15.4% 14.4% 9.25% 11.6% 12% 9.95%
ROA (Net income/ Total Assets) 3.6% 4.4% 4.47% 5.72% 3.61% 2.3%
Assets 1 31,781 26,444 16,768 15,732 26,314 34,866
Book Value Per Share 2 2.820 2.950 3.010 3.020 3.080 3.160
Cash Flow per Share 2 0.2500 0.4400 0.3900 0.4900 0.5800 0.9100
Capex 1 194 265 136 580 632 435
Capex / Sales 3.11% 3.74% 2.32% 9.65% 8.89% 7.15%
Announcement Date 4/30/19 5/29/20 4/27/21 4/28/22 4/27/23 4/30/24
1MYR in Million2MYR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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