Financials HSS Engineers

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-06-04 pm EDT			5-day change	1st Jan Change
0.955 ^MYR	-1.04%		-2.55%	-1.55%

May. 23	HSS Engineers Berhad Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 24	HSS Engineers Berhad Proposes Final Single Tier Dividend for the Financial Year Ended 31 December 2023, Payable on June 26, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	419	324.8	218.2	213.2	481.1	485.6	-	-
Enterprise Value (EV) ¹	451.2	345.5	218.2	213.2	481.1	485.6	485.6	485.6
P/E ratio	384 x	30.5 x	72.1 x	14.1 x	23.5 x	16.1 x	12.9 x	10.6 x
Yield	-	-	-	-	-	1.68%	2.09%	2.46%
Capitalization / Revenue	2.82 x	1.91 x	1.32 x	1.15 x	2.57 x	1.75 x	1.46 x	1.3 x
EV / Revenue	2.82 x	1.91 x	1.32 x	1.15 x	2.57 x	1.75 x	1.46 x	1.3 x
EV / EBITDA	22.2 x	11.1 x	11.1 x	7.06 x	14.9 x	9.91 x	7.96 x	6.88 x
EV / FCF	85.5 x	17.6 x	33.3 x	-159 x	26.2 x	16.9 x	13.6 x	11.5 x
FCF Yield	1.17%	5.68%	3%	-0.63%	3.82%	5.92%	7.34%	8.67%
Price to Book	1.96 x	1.45 x	0.96 x	0.88 x	1.86 x	1.84 x	1.65 x	1.47 x
Nbr of stocks (in thousands)	495,862	495,862	495,862	495,862	495,980	508,480	-	-
Reference price ²	0.8450	0.6550	0.4400	0.4300	0.9700	0.9550	0.9550	0.9550
Announcement Date	2/25/20	2/25/21	2/23/22	4/27/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	148.5	170	164.7	186	187.3	276.8	331.5	374.1
EBITDA ¹	18.89	29.33	19.74	30.21	32.24	49	61	70.6
EBIT ¹	10.02	21.36	11.98	24.05	31.07	46.6	64.4	75.4
Operating Margin	6.75%	12.57%	7.27%	12.92%	16.58%	16.84%	19.43%	20.16%
Earnings before Tax (EBT) ¹	3.226	16.44	6.089	21.62	28.72	44.05	56	66
Net income ¹	1.092	10.64	3.04	15.13	20.46	31.74	39.82	47.71
Net margin	0.74%	6.26%	1.85%	8.13%	10.92%	11.47%	12.01%	12.75%
EPS ²	0.002200	0.0215	0.006100	0.0305	0.0413	0.0595	0.0740	0.0900
Free Cash Flow ¹	4.902	18.44	6.545	-1.34	18.39	28.76	35.65	42.09
FCF margin	3.3%	10.85%	3.97%	-0.72%	9.82%	10.39%	10.75%	11.25%
FCF Conversion (EBITDA)	25.95%	62.87%	33.15%	-	57.05%	58.69%	58.44%	59.62%
FCF Conversion (Net income)	448.9%	173.27%	215.3%	-	89.88%	90.63%	89.53%	88.22%
Dividend per Share ²	-	-	-	-	-	0.0160	0.0200	0.0235
Announcement Date	2/25/20	2/25/21	2/23/22	4/27/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	32.2	20.8	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.702 x	0.7078 x	-	-	-	-	-	-
Free Cash Flow ¹	4.9	18.4	6.55	-1.34	18.4	28.8	35.7	42.1
ROE (net income / shareholders' equity)	0.51%	4.85%	1.94%	6.43%	8.1%	11.7%	15%	16.4%
ROA (Net income/ Total Assets)	0.3%	3%	1.2%	3.92%	5.2%	8.6%	10.2%	11%
Assets ¹	361.9	355.1	253.5	385.8	393.5	369	390.4	433.7
Book Value Per Share ²	0.4300	0.4500	0.4600	0.4900	0.5200	0.5200	0.5800	0.6500
Cash Flow per Share	0.0300	0.0400	-	-	-	-	-	-
Capex ¹	0.3	0.59	1.28	0.77	0.28	3	3	3
Capex / Sales	0.2%	0.35%	0.78%	0.41%	0.15%	1.08%	0.9%	0.8%
Announcement Date	2/25/20	2/25/21	2/23/22	4/27/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.955 MYR

Average target price

1.345 MYR

Spread / Average Target

+40.84%

	1st Jan change	Capi.
HSS ENGINEERS	-1.55%	103M
SWECO AB	+8.66%	5.06B
HUATU CENDES CO., LTD	+28.46%	2.11B
UNITED INTEGRATED SERVICES CO., LTD.	+34.03%	2.06B
GREENTOWN MANAGEMENT HOLDINGS COMPANY LIMITED	+30.54%	1.8B
NV5 GLOBAL, INC.	-16.99%	1.49B
H.G. INFRA ENGINEERING LIMITED	+79.19%	1.12B
KUMAGAI GUMI CO.,LTD.	-1.11%	1B
ZONQING ENVIRONMENTAL LIMITED	+12.83%	986M
CHINA DESIGN GROUP CO., LTD.	+21.05%	859M