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US$450
FV
37.4% undervalued intrinsic discount
35.41%
Revenue growth p.a.
82
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8users have followed this narrative
AU$2.45
FV
41.2% undervalued intrinsic discount
13.07%
Revenue growth p.a.
796
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18users have liked this narrative
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16users have followed this narrative
US$91.85
90.5% overvalued intrinsic discount
Fair Value
Revenue
30% p.a.
Profit Margin
33%
Future PE
55x
Price in 2031
US$161.88
TAL logo
PetroTal

PetroTal: Betting On a Production Recovery

Catalysts The main catalyst for PetroTal is the restart of drilling at the Bretaña field. Production has fallen heavily over the last year.Read more

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CA$0.85
42.4% undervalued intrinsic discount
Fair Value
For my valuation I am using free cash flow instead of EPS because PetroTal's main issue is whether it can fund its drilling program while still returning cash to shareholders. My base case assumes production recovers to around 20,000 barrels per day with Brent averaging around US$75. At that level I estimate PetroTal could generate around US$185 million of annual cash flow before capital spending. Assuming roughly US$100 million of annual capex would leave around US$85 million of free cash flow. With around 920 million shares outstanding that works out to about US$0.09 of free cash flow per share. Using a 7x multiple gives a value of around US$0.63 per share or roughly C$0.85 per share. Because of this I would put my fair value at around C$0.85 per share. This valuation mainly depends on PetroTal successfully recovering production towards 20,000 barrels per day. If production remains below that level then I would lower my valuation.
US$5.64
47.2% undervalued intrinsic discount
Fair Value
Profit Margin
4.72%
Future PE
13.38x
Price in 2031
US$66.83
LAGENDA logo
Lagenda Properties Berhad

Lagenda Properties 录得创纪录销售额与收入,推动盈利能见度提升

领先的可负担房屋及综合城镇开发商Lagenda Properties Berhad(KLSE: LAGENDA、7179)在2025财政年交出了非常亮眼的业绩! 突破10亿令吉营收大关 LAGENDA全年营收首次超过10亿令吉,达到1.06亿令吉,净利润为1.795亿令吉。 更重要的是,年度销售额达到了创纪录的17亿令吉,同比增长50.0%,并超越了管理层设定的15亿令吉目标。在房地产市场整体更为谨慎的背景下,能够如此大规模地超越内部销售指引,表明其需求能见度依然完好。 柔佛州崭露头角,成为关键盈利驱动力 强劲的需求遍布雪兰莪、彭亨和柔佛州,其中柔佛州贡献了2025财年总销售额的近一半。La Lumiére(古来)、Lagenda Ardea(Ulu Bernam)和 La' Indera(关丹)等项目是主要的销售功臣。 从投资组合配置的角度来看,柔佛州日益增长的贡献具有战略意义。该州正受益于经济活动的改善和跨境动态。 2025财年第四季:增长伴随利润率稳定 在2025财年第四季,得益于霹雳、柔佛和雪兰莪项目的工程进度认证增加,营收同比增长27.2%至2.974亿令吉。税前利润增长7.1%至6420万令吉。 然而,净利润同比微降1.1%至4500万令吉。这一轻微下滑并不令人担忧,更可能反映的是项目组合和时间差问题,而非结构性利润率压力。运营执行保持稳定,盈利状况继续得到稳固的销售转化支撑。 具吸引力的股息 LAGENDA宣布派发每股3.5仙的第二次中期股息,总额达2910万令吉。 这使得2025财年的总股息达到每股6.5仙,相当于总派息额5420万令吉,基于2025财年净利润计算的股息支付率为30.2%。 请注意,除息日定于2026年4月15日,付款日期定于2026年5月18日。 展望 LAGENDA以创纪录的16亿令吉未入账销售额进入2026财年,为来年提供了坚实的盈利能见度。该公司的增长轨迹还得到了占地4300英亩、估计总发展值达110亿令吉的大量地库的进一步支持,这提供了多年的开发潜力。 展望未来,管理层计划在吉打州的双溪大年和森美兰州的芙蓉新城推出新的城镇开发项目。这些新项目将拓宽其地理足迹,并强化其可扩展的城镇开发模式,使LAGENDA能够在维持增长势头的同时,巩固其作为马来西亚领先的可负担房屋城镇开发商的地位。Read more

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RM 2.5
43.6% undervalued intrinsic discount
Fair Value
Revenue
25.84% p.a.
Profit Margin
18.16%
Future PE
6.79x
Price in 2031
RM 4.61
US$134
15.8% undervalued intrinsic discount
Fair Value
SOTP approach. (all PoS adjusted) IMCIVREE for BBS/POMC/LEPR = $3,589 IMCIVREE for AHO = $6,440 IMCIVREE for PWS = $673 Bivamelagon = $351 RM-718 = $88 Less: PV of corp O/H = $2,341 Net SOPT Value = $8,711 Add: Cash = $331 Equity Value = $9,042 Value per Share = $134
PK₨640
30.5% undervalued intrinsic discount
Fair Value
Revenue
26.55% p.a.
Profit Margin
18%
Future PE
11x
Price in 2031
PK₨2.17k