PIE

P.I.E. Industrial BerhadKLSE:PIE Stock Report

Market Cap

RM1.3b

7D

-1.4%

1Y

124.3%

Updated

16 Sep, 2021

Data

Company Financials +
PIE fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance4/6
Financial Health4/6
Dividends2/6

PIE Overview

P.I.E. Industrial Berhad, an investment holding company, manufactures and sells industrial electronic products primarily in Malaysia, Thailand, and Singapore.

Price History & Performance

Summary of all time highs, changes and price drops for P.I.E. Industrial Berhad
Historical stock prices
Current Share PriceRM3.41
52 Week HighRM1.45
52 Week LowRM3.84
Beta1.23
1 Month Change-1.44%
3 Month Change12.54%
1 Year Change124.34%
3 Year Change125.83%
5 Year Change79.47%
Change since IPO450.00%

Recent News & Updates

Aug 18
With EPS Growth And More, P.I.E. Industrial Berhad (KLSE:PIE) Is Interesting

With EPS Growth And More, P.I.E. Industrial Berhad (KLSE:PIE) Is Interesting

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Aug 04
P.I.E. Industrial Berhad (KLSE:PIE) Will Want To Turn Around Its Return Trends

P.I.E. Industrial Berhad (KLSE:PIE) Will Want To Turn Around Its Return Trends

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...

Shareholder Returns

PIEMY ElectricalMY Market
7D-1.4%1.3%-0.9%
1Y124.3%5.2%6.1%

Return vs Industry: PIE exceeded the MY Electrical industry which returned 5.2% over the past year.

Return vs Market: PIE exceeded the MY Market which returned 6.1% over the past year.

Price Volatility

Is PIE's price volatile compared to industry and market?
PIE volatility
PIE Beta1.23
Industry Beta1.41
Market Beta1

Stable Share Price: PIE is not significantly more volatile than the rest of MY stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PIE's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19972,718Chung Muihttps://www.pieib.com.my

P.I.E. Industrial Berhad, an investment holding company, manufactures and sells industrial electronic products primarily in Malaysia, Thailand, and Singapore. The company operates through Manufacturing of Industrial Products and Trading of Electronic Materials segments. It engages in the contract electronic manufacturing and testing of various electronic products, including bar code scanner assembly, PCB assembly, etc.; and manufacturing of wires and cables for various industrial applications, including telecommunication, medical, elevator, automotive, and consumer electronic products.

P.I.E. Industrial Berhad Fundamentals Summary

How do P.I.E. Industrial Berhad's earnings and revenue compare to its market cap?
PIE fundamental statistics
Market CapRM1.31b
Earnings (TTM)RM74.03m
Revenue (TTM)RM972.85m

17.7x

P/E Ratio

1.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PIE income statement (TTM)
RevenueRM972.85m
Cost of RevenueRM893.06m
Gross ProfitRM79.78m
ExpensesRM5.75m
EarningsRM74.03m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.19
Gross Margin8.20%
Net Profit Margin7.61%
Debt/Equity Ratio9.5%

How did PIE perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

12%

Payout Ratio

Valuation

Is P.I.E. Industrial Berhad undervalued compared to its fair value and its price relative to the market?

17.69x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PIE (MYR3.41) is trading above our estimate of fair value (MYR0.86)

Significantly Below Fair Value: PIE is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PIE is good value based on its PE Ratio (17.7x) compared to the MY Electrical industry average (23.5x).

PE vs Market: PIE is poor value based on its PE Ratio (17.7x) compared to the MY market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: PIE is poor value based on its PEG Ratio (4.3x)


Price to Book Ratio

PB vs Industry: PIE is overvalued based on its PB Ratio (2.7x) compared to the MY Electrical industry average (1.3x).


Future Growth

How is P.I.E. Industrial Berhad forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

4.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PIE's forecast earnings growth (4.1% per year) is above the savings rate (3.6%).

Earnings vs Market: PIE's earnings (4.1% per year) are forecast to grow slower than the MY market (10.2% per year).

High Growth Earnings: PIE's earnings are forecast to grow, but not significantly.

Revenue vs Market: PIE's revenue (2.3% per year) is forecast to grow slower than the MY market (6.2% per year).

High Growth Revenue: PIE's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PIE's Return on Equity is forecast to be low in 3 years time (11.1%).


Past Performance

How has P.I.E. Industrial Berhad performed over the past 5 years?

1.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PIE has a high level of non-cash earnings.

Growing Profit Margin: PIE's current net profit margins (7.6%) are higher than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: PIE's earnings have grown by 1.5% per year over the past 5 years.

Accelerating Growth: PIE's earnings growth over the past year (199.3%) exceeds its 5-year average (1.5% per year).

Earnings vs Industry: PIE earnings growth over the past year (199.3%) exceeded the Electrical industry 16.6%.


Return on Equity

High ROE: PIE's Return on Equity (15.3%) is considered low.


Financial Health

How is P.I.E. Industrial Berhad's financial position?


Financial Position Analysis

Short Term Liabilities: PIE's short term assets (MYR548.2M) exceed its short term liabilities (MYR218.1M).

Long Term Liabilities: PIE's short term assets (MYR548.2M) exceed its long term liabilities (MYR4.8M).


Debt to Equity History and Analysis

Debt Level: PIE's debt to equity ratio (9.5%) is considered satisfactory.

Reducing Debt: PIE's debt to equity ratio has increased from 7.2% to 9.5% over the past 5 years.

Debt Coverage: PIE's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: PIE earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is P.I.E. Industrial Berhad current dividend yield, its reliability and sustainability?

1.47%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PIE's dividend (1.47%) isn’t notable compared to the bottom 25% of dividend payers in the MY market (1.51%).

High Dividend: PIE's dividend (1.47%) is low compared to the top 25% of dividend payers in the MY market (4.09%).


Stability and Growth of Payments

Stable Dividend: PIE's dividend payments have been volatile in the past 10 years.

Growing Dividend: PIE's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (12.5%), PIE's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PIE's dividends in 3 years are forecast to be well covered by earnings (37.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Chung Mui (69 yo)

no data

Tenure

RM1,280,000

Compensation

Mr. Chung Meng Mui serves as the Managing Director at Pie Industrial Bhd. Mr. Mui joined Pan-International Electronics (Thailand) Co. Ltd. in 1993 and was subsequently promoted to General Manager of the So...


CEO Compensation Analysis

Compensation vs Market: Chung's total compensation ($USD307.68K) is about average for companies of similar size in the MY market ($USD303.04K).

Compensation vs Earnings: Chung's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PIE's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: PIE's board of directors are considered experienced (4.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

P.I.E. Industrial Berhad's employee growth, exchange listings and data sources


Key Information

  • Name: P.I.E. Industrial Berhad
  • Ticker: PIE
  • Exchange: KLSE
  • Founded: 1997
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: RM1.310b
  • Shares outstanding: 384.04m
  • Website: https://www.pieib.com.my

Number of Employees


Location

  • P.I.E. Industrial Berhad
  • Jalan Jelawat 1
  • Plot 4
  • Perai
  • Pulau Pinang
  • 13700
  • Malaysia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/16 11:01
End of Day Share Price2021/09/15 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.