CYPARK – Fundamental Analysis (1 Jul 2015)

CYPARK Analysis:-

Excel – http://1drv.ms/1T43fB2

Notes – http://tinyurl.com/ornuu2e

My View:-

  • Fair value:
    • Absolute EY%
      • Trailing:
        • FY14 (EPS: 0.208) – From 2.47 to 2.88 (Uncertainty Risk: LOW)
        • R4Q (EPS: 0.21) – From 2.49 to 2.90 (Uncertainty Risk: LOW)
      • Forward:
        • FY15 (EPS: 0.24) – From 2.84 to 3.32 (Uncertainty Risk: LOW)
        • FY16 (EPS: 0.25) – From 2.96 to 3.45 (Uncertainty Risk: LOW)
      • EPS applied to reach the current stock price (1.69): 0.132
    • Simple Yield Valuation
      • FY14– EY%: 12.8%
      • R4Q-EY%: 12.4%
  • CYPARK’s valuation looks very attractive.
  • CYPARK will be able to ride on government initiatives in the waste-to-energy and green energy.
  • Debt level of CYPARK is extremely high.
    • Debt / EBITDA – 4.86 x
    • EBITA/Interest – 3.88 x
    • FFO to Debt – 9.4%
  • Another issue of CYPARK is significant diluting in its EPS. Even though its net profit increased 6.6% YoY, its EPS declined -3.8% YoY.

Latest Financial – Q2 2015 Financial Report (30 Jun 2015) http://www.bursamalaysia.com/market/listed-companies/company-announcements/4787721

At the time of writing, I did not own shares of CYPARK.

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