Company Valuation: Gamuda

Data adjusted to current consolidation scope
Fiscal Period: July 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,038 9,577 11,450 21,814 29,995 28,636 - -
Change - 36.08% 19.55% 90.52% 37.5% -4.53% - -
Enterprise Value (EV) 1 8,728 10,775 14,196 26,259 36,416 36,276 37,082 37,272
Change - 23.46% 31.75% 84.97% 38.68% -0.38% 2.22% 0.51%
P/E 12x 11.8x 6.33x 24.5x 30.2x 26.9x 21.3x 16.4x
PBR 0.77x 0.97x 1.06x 1.92x 2.5x 2.24x 2.11x 1.95x
PEG - 0.3x 0x -0.5x 4.43x 6.53x 0.8x 0.6x
Capitalization / Revenue 2x 1.86x 1.38x 1.63x 1.88x 1.65x 1.33x 1.06x
EV / Revenue 2.48x 2.09x 1.71x 1.97x 2.28x 2.09x 1.73x 1.38x
EV / EBITDA 10.8x 11x 13.2x 23.7x 23.7x 22.5x 18.2x 14.6x
EV / EBIT 14.9x 14.6x 14.9x 27.8x 27.2x 25.3x 20.5x 16.6x
EV / FCF 10.6x -137x -11x -171x -382x 26.1x 810x 45.4x
FCF Yield 9.44% -0.73% -9.08% -0.58% -0.26% 3.83% 0.12% 2.2%
Dividend per Share 2 - 0.06 0.25 0.08 0.2 0.0949 0.1029 0.1272
Rate of return - 3.2% 11.6% 2.04% 3.86% 1.98% 2.14% 2.65%
EPS 2 0.117 0.1586 0.3398 0.1606 0.1715 0.1786 0.2254 0.2924
Distribution rate - 37.8% 73.6% 49.8% 117% 53.2% 45.7% 43.5%
Net sales 1 3,517 5,163 8,281 13,347 15,970 17,343 21,483 26,913
EBITDA 1 811.3 978 1,073 1,108 1,536 1,613 2,039 2,548
EBIT 1 586.1 737.1 953.9 945.2 1,337 1,433 1,808 2,245
Net income 1 588.3 806.2 1,838 912.1 1,003 1,044 1,349 1,755
Net Debt 1 1,690 1,198 2,746 4,445 6,422 7,641 8,446 8,636
Reference price 2 1.400 1.875 2.150 3.930 5.180 4.800 4.800 4.800
Nbr of stocks (in thousands) 5,027,057 5,107,862 5,325,472 5,550,607 5,790,500 5,965,768 - -
Announcement Date 29/9/21 29/9/22 27/9/23 26/9/24 19/9/25 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.99x2.1x22.56x1.97% 7.08B
56.24x2.59x24.73x0.07% 93.52B
12.27x1.05x5.76x4.77% 70.79B
34.81x4.38x23.78x0.19% 55.61B
26.31x2.02x19.89x1.17% 56.19B
50.68x4.03x25.66x1.8% 39.12B
28.93x0.71x11.79x2.14% 32.75B
23.83x1.63x15.02x0.19% 33.07B
22.95x0.47x7.39x2.57% 29.37B
5.02x0.31x5.81x5.85% 26.65B
Average 28.80x 1.93x 16.24x 2.07% 44.42B
Weighted average by Cap. 32.10x 2.13x 17.07x 1.83%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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