Financials Telekom Malaysia

Equities

TM

MYL4863OO006

Integrated Telecommunications Services

End-of-day quote BURSA MALAYSIA 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
6.11 MYR 0.00% Intraday chart for Telekom Malaysia +0.66% +10.09%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 9,996 14,385 20,415 21,051 20,633 23,448 23,448 -
Enterprise Value (EV) 1 15,741 20,114 25,480 25,839 20,633 21,299 26,618 26,161
P/E ratio 64.9 x 22.9 x 20.3 x 23.4 x 18 x 11.4 x 14.4 x 14.4 x
Yield 0.75% 2.62% 2.64% 2.36% - 3.44% 3.61% 3.71%
Capitalization / Revenue 0.85 x 1.26 x 1.88 x 1.83 x 1.7 x 1.74 x 1.88 x 1.84 x
EV / Revenue 1.33 x 1.76 x 2.35 x 2.24 x 1.7 x 1.74 x 2.13 x 2.05 x
EV / EBITDA 4.54 x 5 x 6.55 x 5.95 x 4.17 x 4.36 x 5.46 x 5.22 x
EV / FCF 50.9 x 10 x 20.4 x 24.1 x 34.3 x 11.6 x 10.7 x 12.7 x
FCF Yield 1.96% 9.96% 4.9% 4.15% 2.92% 8.59% 9.36% 7.89%
Price to Book 1.33 x 1.96 x 2.87 x 2.77 x 2.58 x 2.62 x 2.41 x 2.23 x
Nbr of stocks (in thousands) 3,757,935 3,765,636 3,773,643 3,827,501 3,821,010 3,837,628 3,837,628 -
Reference price 2 2.660 3.820 5.410 5.500 5.400 6.110 6.110 6.110
Announcement Date 2/26/19 2/21/20 2/24/21 2/25/22 2/28/23 2/23/24 - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 11,819 11,434 10,840 11,529 12,118 12,256 12,484 12,775
EBITDA 1 3,469 4,023 3,889 4,345 4,953 4,884 4,874 5,008
EBIT 1 1,070 1,568 1,605 1,710 2,090 2,088 2,118 2,184
Operating Margin 9.05% 13.72% 14.8% 14.83% 17.25% 17.04% 16.96% 17.09%
Earnings before Tax (EBT) 1 17.4 925.1 1,278 1,247 1,686 1,808 1,935 2,040
Net income 1 153.2 632.7 1,016 895.2 1,143 1,870 1,655 1,626
Net margin 1.3% 5.53% 9.37% 7.76% 9.43% 15.26% 13.26% 12.73%
EPS 2 0.0410 0.1670 0.2670 0.2350 0.3000 0.4870 0.4255 0.4232
Free Cash Flow 1 309 2,003 1,249 1,072 602 2,325 2,492 2,065
FCF margin 2.61% 17.52% 11.52% 9.3% 4.97% 18.91% 19.96% 16.17%
FCF Conversion (EBITDA) 8.91% 49.8% 32.13% 24.67% 12.15% 48.31% 51.12% 41.24%
FCF Conversion (Net income) 201.7% 316.61% 122.96% 119.74% 52.65% 131.95% 150.53% 126.99%
Dividend per Share 2 0.0200 0.1000 0.1430 0.1300 - 0.2100 0.2203 0.2270
Announcement Date 2/26/19 2/21/20 2/24/21 2/25/22 2/28/23 2/23/24 - -
1MYR in Million2MYR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 2,763 2,803 - 2,892 3,089 3,158 2,978 - - - - 2,949 2,949 3,195 3,195
EBITDA 1 990.4 1,025 1,164 1,164 1,324 1,259 1,206 1,250 1,284 1,236 1,117 1,179 1,179 1,161 1,161
EBIT 387.6 437.5 - 560.4 702.7 604.8 - - - - - 452.9 452.9 490.6 490.6
Operating Margin 14.03% 15.61% - 19.37% 22.75% 19.15% - - - - - 15.35% 15.35% 15.35% 15.35%
Earnings before Tax (EBT) 293.1 352.7 - 467.2 545 460.3 214 - - - 393.7 - - - -
Net income 1 218.5 271.3 - 339.9 378 265.2 160.2 331.4 568.7 538.2 433.5 404 404 437.6 437.6
Net margin 7.91% 9.68% - 11.75% 12.24% 8.4% 5.38% - - - - 13.7% 13.7% 13.7% 13.7%
EPS 2 0.0570 0.0710 - 0.0890 0.0990 0.0700 0.0420 0.0860 0.1480 - 0.1130 0.1075 0.1075 0.1165 0.1165
Dividend per Share 2 - - - - 0.0900 - - - 0.0950 0.0950 0.0675 0.0591 0.0591 0.0641 0.0641
Announcement Date 8/27/21 11/25/21 2/25/22 5/25/22 8/24/22 11/22/22 2/28/23 5/25/23 8/25/23 11/23/23 2/23/24 - - - -
1MYR in Million2MYR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 5,745 5,730 5,065 4,788 - 3,601 3,170 2,713
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.656 x 1.424 x 1.302 x 1.102 x - 0.7484 x 0.6505 x 0.5417 x
Free Cash Flow 1 309 2,003 1,249 1,072 602 2,325 2,492 2,065
ROE (net income / shareholders' equity) 8.2% 13.4% 14% 12.2% 14.8% 19.4% 16.2% 14.9%
ROA (Net income/ Total Assets) 2.6% 4.06% 4.07% 3.8% 4.97% 8.18% 6.16% 6.68%
Assets 1 5,892 15,598 24,939 23,555 22,981 21,550 26,891 24,356
Book Value Per Share 2 2.000 1.950 1.890 1.990 2.100 2.340 2.530 2.750
Cash Flow per Share 2 0.6900 0.9200 0.7100 0.7900 0.8600 1.150 1.320 1.170
Capex 1 2,276 1,499 1,437 1,904 2,664 2,318 2,284 2,319
Capex / Sales 19.26% 13.11% 13.26% 16.51% 21.98% 18.85% 18.29% 18.16%
Announcement Date 2/26/19 2/21/20 2/24/21 2/25/22 2/28/23 2/23/24 - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
6.11 MYR
Average target price
6.436 MYR
Spread / Average Target
+5.34%
Consensus
  1. Stock Market
  2. Equities
  3. TM Stock
  4. Financials Telekom Malaysia