Major Estimate Revision • May 28
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from RM0.036 to RM0.029. Revenue forecast unchanged from RM47.8m at last update. Net income forecast to grow 15% next year vs 20% growth forecast for Personal Products industry in Malaysia. Consensus price target down from RM0.47 to RM0.38. Share price fell 2.9% to RM0.33 over the past week. Reported Earnings • May 22
Third quarter 2026 earnings released: EPS: RM0.006 (vs RM0.009 in 3Q 2025) Third quarter 2026 results: EPS: RM0.006 (down from RM0.009 in 3Q 2025). Revenue: RM13.0m (up 9.9% from 3Q 2025). Net income: RM2.03m (down 31% from 3Q 2025). Profit margin: 16% (down from 25% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 24% per year. Price Target Changed • May 21
Price target decreased by 22% to RM0.38 Down from RM0.48, the current price target is provided by 1 analyst. New target price is 12% above last closing price of RM0.34. Stock is up 13% over the past year. The company is forecast to post earnings per share of RM0.029 for next year compared to RM0.024 last year. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. No experienced directors. 7 highly experienced directors. Independent & Non-Executive Director Muhammad Bin Abu Hassan was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Oct 15
Nova Wellness Group Berhad, Annual General Meeting, Nov 19, 2025 Nova Wellness Group Berhad, Annual General Meeting, Nov 19, 2025, at 10:00 Singapore Standard Time. Location: ballroom, ibis styles sepang klia, jalan klia 1/60, 43900 sepang, selangor darul ehsan, Malaysia Board Change • Mar 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Non-Executive Chairman Abdul bin Mohamad Radzi was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 15
Upcoming dividend of RM0.013 per share Eligible shareholders must have bought the stock before 22 November 2024. Payment date: 10 December 2024. Payout ratio is a comfortable 51% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (4.8%). Higher than average of industry peers (2.0%). Reported Earnings • Oct 20
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: RM0.025 (down from RM0.047 in FY 2023). Revenue: RM40.8m (down 10% from FY 2023). Net income: RM7.87m (down 48% from FY 2023). Profit margin: 19% (down from 33% in FY 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 38%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 20% per year. Price Target Changed • Sep 02
Price target decreased by 9.5% to RM0.60 Down from RM0.66, the current price target is an average from 3 analysts. New target price is 33% above last closing price of RM0.45. Stock is down 38% over the past year. The company is forecast to post earnings per share of RM0.041 for next year compared to RM0.025 last year. New Risk • Aug 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 19% Last year net profit margin: 33% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (192% cash payout ratio). Profit margins are more than 30% lower than last year (19% net profit margin). Market cap is less than US$100m (RM157.8m market cap, or US$36.5m). Major Estimate Revision • May 28
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM45.8m to RM44.7m. EPS estimate also fell from RM0.046 per share to RM0.04 per share. Net income forecast to grow 34% next year vs 24% growth forecast for Personal Products industry in Malaysia. Consensus price target down from RM0.66 to RM0.64. Share price fell 12% to RM0.54 over the past week. Reported Earnings • May 22
Third quarter 2024 earnings released: EPS: RM0.006 (vs RM0.009 in 3Q 2023) Third quarter 2024 results: EPS: RM0.006 (down from RM0.009 in 3Q 2023). Revenue: RM10.1m (down 8.7% from 3Q 2023). Net income: RM1.84m (down 37% from 3Q 2023). Profit margin: 18% (down from 27% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Reported Earnings • Feb 21
Second quarter 2024 earnings released: EPS: RM0.01 (vs RM0.013 in 2Q 2023) Second quarter 2024 results: EPS: RM0.01 (down from RM0.013 in 2Q 2023). Revenue: RM10.2m (down 15% from 2Q 2023). Net income: RM3.06m (down 28% from 2Q 2023). Profit margin: 30% (down from 36% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Nov 23
Upcoming dividend of RM0.013 per share at 5.1% yield Eligible shareholders must have bought the stock before 30 November 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 5.1%. Within top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (1.7%). Major Estimate Revision • Nov 13
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM54.1m to RM47.7m. EPS estimate fell from RM0.058 to RM0.049 per share. Net income forecast to grow 19% next year vs 27% growth forecast for Personal Products industry in Malaysia. Consensus price target down from RM0.84 to RM0.70. Share price fell 7.5% to RM0.68 over the past week. Annonce • Nov 07
Nova Wellness Group Berhad Approves Final Single Tier Dividend for the Financial Year Ended 30 June 2023 Nova Wellness Group Berhad at the AGM held on 6 November 2023 approved to declare a final single tier dividend of 1.25 sen per share for the financial year ended 30 June 2023 as recommended by the Directors. Reported Earnings • Oct 12
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: RM0.047 (down from RM0.051 in FY 2022). Revenue: RM45.5m (down 7.3% from FY 2022). Net income: RM15.0m (down 6.9% from FY 2022). Profit margin: 33% (in line with FY 2022). Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) exceeded analyst estimates by 1.5%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Annonce • Oct 06
Nova Wellness Group Berhad, Annual General Meeting, Nov 06, 2023 Nova Wellness Group Berhad, Annual General Meeting, Nov 06, 2023, at 10:00 Singapore Standard Time. Location: Dewan Utama 1, Hotel Seri Malaysia, Lot 979 & 980; Pantai Bagan Lalang 43950 Sungai Pelek, Sepang SELANGOR DARUL EHSAN Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 30 June 2023 and the Reports of the Directors and Auditors thereon; to declare a Final Single Tier Dividend of 1.25 sen per share for the financial year ended 30 June 2023 as recommended by the Directors; to re-elect Sulaiman Bin Haji Ahmad who is retiring under Clause 109 of the Constitution of the Company; to consider Proposed Directors' Fees for the period from the date of forthcoming Annual General Meeting until the next Annual General Meeting in year 2024; and to consider other matters. Annonce • Sep 29
Nova Wellness Group Berhad Recommends Final Single Tier Dividend in Respect of the Financial Year Ended 30 June 2023 Nova Wellness Group Berhad announced the recommendation for the declaration and payment of a final single tier dividend of 1.25 sen per ordinary share in respect of the financial year ended 30 June 2023, which is subject to the approval of the shareholders of the Company at its forthcoming Annual General Meeting. The date of entitlement and date of payment in respect of the aforesaid dividend will be announced in due course. New Risk • Aug 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (RM229.5m market cap, or US$49.4m). Reported Earnings • Aug 19
Full year 2023 earnings released: EPS: RM0.047 (vs RM0.051 in FY 2022) Full year 2023 results: EPS: RM0.047 (down from RM0.051 in FY 2022). Revenue: RM45.5m (down 7.3% from FY 2022). Net income: RM15.0m (down 6.8% from FY 2022). Profit margin: 33% (in line with FY 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 01
Price target decreased by 14% to RM0.84 Down from RM0.99, the current price target is an average from 2 analysts. New target price is 14% above last closing price of RM0.74. Stock is down 18% over the past year. The company is forecast to post earnings per share of RM0.046 for next year compared to RM0.051 last year. Major Estimate Revision • May 30
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from RM55.9m to RM53.0m. EPS estimate also fell from RM0.061 per share to RM0.054 per share. Net income forecast to grow 51% next year vs 31% growth forecast for Personal Products industry in Malaysia. Consensus price target down from RM0.99 to RM0.93. Share price fell 12% to RM0.76 over the past week. Reported Earnings • May 24
Third quarter 2023 earnings released: EPS: RM0.009 (vs RM0.015 in 3Q 2022) Third quarter 2023 results: EPS: RM0.009 (down from RM0.015 in 3Q 2022). Revenue: RM11.0m (down 8.0% from 3Q 2022). Net income: RM2.94m (down 40% from 3Q 2022). Profit margin: 27% (down from 41% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Mar 01
Upcoming dividend of RM0.021 per share at 3.7% yield Eligible shareholders must have bought the stock before 08 March 2023. Payment date: 16 March 2023. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 22
Second quarter 2023 earnings released: EPS: RM1.35 (vs RM0.014 in 2Q 2022) Second quarter 2023 results: EPS: RM1.35. Revenue: RM12.0m (flat on 2Q 2022). Net income: RM4.28m (down 3.0% from 2Q 2022). Profit margin: 36% (in line with 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Personal Products industry in Asia. Annonce • Nov 23
Nova Wellness Group Berhad Announces Final Dividend for the Financial Year Ended June 30, 2022, Payable on December 8, 2022 Nova Wellness Group Berhad announced final dividend of MYR 0.125 per ordinary share for the financial year ended June 30, 2022 with ex-date as November 30, 2022, entitlement date as December 1, 2022 and Payment date as December 8, 2022. Reported Earnings • Nov 17
First quarter 2023 earnings released: EPS: RM0.013 (vs RM0.016 in 1Q 2022) First quarter 2023 results: EPS: RM0.013 (down from RM0.016 in 1Q 2022). Revenue: RM12.0m (down 17% from 1Q 2022). Net income: RM4.27m (down 18% from 1Q 2022). Profit margin: 36% (in line with 1Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent & Non-Executive Chairman Abdul bin Mohamad Radzi was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 21
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: RM0.051 (up from RM0.046 in FY 2021). Revenue: RM49.1m (up 21% from FY 2021). Net income: RM16.1m (up 11% from FY 2021). Profit margin: 33% (down from 36% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Aug 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: RM0.05 (up from RM0.046 in FY 2021). Revenue: RM49.1m (up 21% from FY 2021). Net income: RM15.9m (up 9.4% from FY 2021). Profit margin: 32% (down from 36% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 18%, compared to a 11% growth forecast for the Personal Products industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 26
Nova Wellness Group Berhad Proposes Single Tier Tax Exempted Final Dividend in Respect of the Financial Year Ended 30 June 2022 Nova Wellness Group Berhad announced the recommendation for the declaration and payment of a single tier tax exempted final dividend of 1.25 sen per ordinary share in respect of the financial year ended 30 June 2022, which is subject to the approval of the shareholders of the Company at its forthcoming Annual General Meeting. Reported Earnings • May 25
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: RM0.015 (up from RM0.011 in 3Q 2021). Revenue: RM12.0m (up 18% from 3Q 2021). Net income: RM4.88m (up 41% from 3Q 2021). Profit margin: 41% (up from 34% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) missed analyst estimates by 2.6%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Non Independent & Non Executive Director Seng Loong Sim was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 01
Upcoming dividend of RM0.02 per share Eligible shareholders must have bought the stock before 08 March 2022. Payment date: 16 March 2022. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of Malaysian dividend payers (4.5%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 24
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: RM0.014 (up from RM0.013 in 2Q 2021). Revenue: RM12.1m (up 21% from 2Q 2021). Net income: RM4.41m (up 8.8% from 2Q 2021). Profit margin: 37% (down from 41% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) missed analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 1.8%, compared to a 11% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 25% per year. Upcoming Dividend • Nov 23
Upcoming dividend of RM0.012 per share Eligible shareholders must have bought the stock before 30 November 2021. Payment date: 08 December 2021. Trailing yield: 1.8%. Lower than top quartile of Malaysian dividend payers (4.2%). Higher than average of industry peers (1.5%). Reported Earnings • Oct 21
Full year 2021 earnings released: EPS RM0.046 (vs RM0.041 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: RM40.5m (up 18% from FY 2020). Net income: RM14.6m (up 12% from FY 2020). Profit margin: 36% (down from 38% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Oct 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Non Independent & Non Executive Director Seng Loong Sim was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Jul 15
Nova Laboratories Sdn. Bhd Announces Temporary Closure of Its Operation The Board of Directors of Nova Wellness Group Berhad announce that Nova Laboratories Sdn. Bhd., a subsidiary of the Company, is implementing a temporary closure of its operation for 7 days from 12 July 2021 to 18 July 2021 according to the guidance from the Ministry of Health (MOH). The Company had discovered several positive cases of COVID-19 infection among its factory workers. The employees who have tested positive are currently placed under quarantine and isolation. The temporary closure is not expected to have a significant impact on the financial performance of Nova Group. However, it is expected to result in the minor deferment of shipment to its customers throughout the temporary closure period. The Group will take the following actions: Conduct sanitisation work in its factory; Conduct COVID-19 test for workers that had been in close contact with those that were tested COVID-19 positive via contact tracing; and Implement quarantine measures for the affected workers and close contacts in adherence to advice from the MOH. Executive Departure • May 27
Independent & Non-Executive Chairman Abdul bin Mohamad Radzi has left the company On the 18th of May, Abdul bin Mohamad Radzi's tenure as Independent & Non-Executive Chairman ended after 3.5 years in the role. As of March 2021, Abdul personally held 520.00k shares (RM234k worth at the time). A total of 2 executives have left over the last 12 months. Reported Earnings • May 20
Third quarter 2021 earnings released: EPS RM0.011 (vs RM0.009 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM10.2m (up 16% from 3Q 2020). Net income: RM3.46m (up 27% from 3Q 2020). Profit margin: 34% (up from 31% in 3Q 2020). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Mar 05
New 90-day low: RM0.85 The company is down 10.0% from its price of RM0.94 on 04 December 2020. The Malaysian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 1.0% over the same period. Reported Earnings • Feb 12
Second quarter 2021 earnings released: EPS RM0.013 (vs RM0.011 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: RM10.0m (up 13% from 2Q 2020). Net income: RM4.06m (up 14% from 2Q 2020). Profit margin: 41% (in line with 2Q 2020). Is New 90 Day High Low • Dec 31
New 90-day low: RM0.86 The company is down 5.0% from its price of RM0.92 on 02 October 2020. The Malaysian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 8.0% over the same period. Reported Earnings • Nov 17
First quarter 2021 earnings released: EPS RM0.009 The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: RM9.05m (up 51% from 1Q 2020). Net income: RM2.69m (up 45% from 1Q 2020). Profit margin: 30% (down from 31% in 1Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Oct 21
Full year earnings released - EPS RM0.041 Over the last 12 months the company has reported total profits of RM13.0m, up 19% from the prior year. Total revenue was RM34.3m over the last 12 months, up 15% from the prior year. Profit margins were 38%, which is higher than the 37% margin from last year. The increase in margin was driven by higher revenue.