Company Valuation: TAS Offshore

Data adjusted to current consolidation scope
Fiscal Period: May 2020 2021 2022 2023 2024 2025
Market Cap 1 42.14 64.68 38.46 35.77 130.6 105.5
Change - 53.47% -40.54% -6.99% 265% -19.18%
Enterprise Value (EV) 1 54.24 65.35 17.47 23.51 134.5 100.3
Change - 20.48% -73.27% 34.56% 471.96% -25.43%
P/E -0.56x 34.3x -25.5x 2.34x 13.5x 6.01x
PBR 0.49x 0.7x 0.43x 0.38x 1.29x 0.92x
PEG - -0x 0x -0x -0.4x 0.1x
Capitalization / Revenue 2.6x 1.85x 0.67x 0.99x 1.8x 0.73x
EV / Revenue 3.35x 1.87x 0.3x 0.65x 1.86x 0.69x
EV / EBITDA -0.71x 7.26x 220x 1.41x 9.93x 4.53x
EV / EBIT -0.7x 8.2x -20.6x 1.51x 11x 4.88x
EV / FCF 3.05x 7.2x 0.77x -8.94x -12.7x 15x
FCF Yield 32.8% 13.9% 130% -11.2% -7.86% 6.65%
Dividend per Share 2 - - - - 0.02 0.02
Rate of return - - - - 2.74% 3.39%
EPS 2 -0.427 0.0108 -0.008629 0.0854 0.054 0.0981
Distribution rate - - - - 37% 20.4%
Net sales 1 16.18 34.9 57.5 36.13 72.39 145.2
EBITDA 1 -76.29 8.996 0.0795 16.73 13.55 22.14
EBIT 1 -77.43 7.969 -0.8464 15.56 12.21 20.57
Net income 1 -74.91 1.887 -1.517 15.28 9.664 17.55
Net Debt 1 12.1 0.6746 -20.99 -12.26 3.896 -5.264
Reference price 2 0.2400 0.3700 0.2200 0.2000 0.7300 0.5900
Nbr of stocks (in thousands) 175,597 174,809 174,809 178,858 178,858 178,858
Announcement Date 9/23/20 A 9/28/21 A 9/22/22 A 9/27/23 A 9/25/24 A 9/29/25 A
1MYR in Million2MYR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 19.24M
12.79x0.62x4.56x2.75% 38.44B
22.21x3.59x15.05x - 28.95B
13.25x1.93x12.17x0% 19.52B
6.62x0.44x2.28x5.59% 17.92B
8.88x2.19x6.19x5.4% 14.66B
19.38x1.38x10.53x0.42% 13.62B
39.11x1.36x13.07x0.93% 6.15B
13.51x0.73x7.03x2.58% 5.74B
25.06x0.67x8.59x-.--% 5.06B
Average 17.87x 1.43x 8.83x 2.21% 15.01B
Weighted average by Cap. 15.67x 1.60x 8.58x 2.57%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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