MGB Bhd

7595.KLSE · Industrials · Engineering & Construction · MYR · Fundamentals
Asset-light

Physical assets are 13.4% of total assets, a light footprint. Capex is 0.32x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. ROIC is 8.1%, above an 8% cost-of-capital hurdle.

Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 7.15x.

Physical asset ratio
13.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 128.30MpropertyPlantEquipmentInventoryMYR 26.28MinventoryTotal assetsMYR 1.16BtotalAssetsResult 13.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
7.15xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueMYR 916.91MtotalRevenueNet PP&EMYR 128.30MpropertyPlantEquipmentResult 7.15x
Revenue per dollar of the physical asset base.
Capex / D&A
0.32xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexMYR 7.71McapitalExpendituresD&AMYR 24.44MreconciledDepreciationResult 0.32x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
MYR 0.63Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 1.16BtotalAssetsGoodwillMYR 254.70MgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 525.43MtotalLiabTangible bookMYR 375.11MShares591,652,610commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.63
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice—Latest quoteTangible book / shareMYR 0.632025-12-31A live quote was not available, so price / tangible book could not be calculated.Result —
Quote unavailable.
Fixed-charge coverage
1.38xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 101.37MebitdaCapexMYR 7.71McapitalExpendituresInterestMYR 976.00KinterestExpenseShort-term debtMYR 66.70MshortTermDebtEBITDA − capexMYR 93.66MPrincipal due is short-term debt.Result 1.38x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-20.2%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-MYR 44.71MfreeCashFlowMarket capMYR 221.17MMarketCapitalizationResult -20.2%
Latest free cash flow divided by current market cap (MYR 221.17M).
ROIC
8.1%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 76.32MoperatingIncomeTax expenseMYR 19.47MtaxProvisionPretax incomeMYR 69.80MincomeBeforeTaxTax rate27.9%EquityMYR 629.80MtotalStockholderEquityDebtMYR 125.81MlongTermDebt + shortLongTermDebtCashMYR 73.09McashAndShortTermInvestmentsInvested capitalMYR 682.53MResult 8.1%
After-tax operating income over equity plus debt minus cash. Operating income / net PP&E is 0.59x.

Footprint and return

Turnover and reinvestment

Year Physical FAT Capex/D&A TBV/sh Coverage FCF ROIC EBIT/PP&E
2018 16.0%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 108.78MpropertyPlantEquipmentInventoryMYR 57.62MinventoryTotal assetsMYR 1.04BtotalAssetsResult 16.0% 6.91xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueMYR 751.27MtotalRevenueNet PP&EMYR 108.78MpropertyPlantEquipmentResult 6.91x 2.67xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexMYR 30.71McapitalExpendituresD&AMYR 11.51MreconciledDepreciationResult 2.67x MYR 0.37Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 1.04BtotalAssetsGoodwillMYR 254.69MgoodWillIntangiblesMYR 3.99MintangibleAssetsLiabilitiesMYR 599.66MtotalLiabTangible bookMYR 183.85MShares496,886,550commonStockSharesOutstandingResult MYR 0.37 0.25xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 63.17MebitdaCapexMYR 30.71McapitalExpendituresInterestMYR 5.81MinterestExpenseShort-term debtMYR 125.19MshortTermDebtEBITDA − capexMYR 32.46MPrincipal due is short-term debt.Result 0.25x -MYR 93.86MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-MYR 63.16MtotalCashFromOperatingActivitiesCapexMYR 30.71McapitalExpendituresFree cash flow-MYR 93.86MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 93.86M 5.3%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 51.58MoperatingIncomeTax expenseMYR 15.44MtaxProvisionPretax incomeMYR 45.85MincomeBeforeTaxTax rate33.7%EquityMYR 442.53MtotalStockholderEquityDebtMYR 217.95MshortLongTermDebtTotalCashMYR 17.36McashAndShortTermInvestmentsInvested capitalMYR 643.13MResult 5.3% 0.47xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeMYR 51.58MoperatingIncomeNet PP&EMYR 108.78MpropertyPlantEquipmentResult 0.47x
2019 14.0%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 115.47MpropertyPlantEquipmentInventoryMYR 19.71MinventoryTotal assetsMYR 967.97MtotalAssetsResult 14.0% 6.55xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueMYR 756.15MtotalRevenueNet PP&EMYR 115.47MpropertyPlantEquipmentResult 6.55x 0.55xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexMYR 8.59McapitalExpendituresD&AMYR 15.67MreconciledDepreciationResult 0.55x MYR 0.40Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 967.97MtotalAssetsGoodwillMYR 254.69MgoodWillIntangiblesMYR 1.83MintangibleAssetsLiabilitiesMYR 511.72MtotalLiabTangible bookMYR 199.73MShares501,652,610commonStockSharesOutstandingResult MYR 0.40 0.45xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 46.28MebitdaCapexMYR 8.59McapitalExpendituresInterestMYR 9.70MinterestExpenseShort-term debtMYR 73.18MshortTermDebtEBITDA − capexMYR 37.69MPrincipal due is short-term debt.Result 0.45x MYR 91.18MFree cash flow · 2019-12-31Reported free cash flowOperating cash flowMYR 101.47MtotalCashFromOperatingActivitiesCapexMYR 8.59McapitalExpendituresFree cash flowMYR 91.18MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 91.18M 3.3%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 30.55MoperatingIncomeTax expenseMYR 8.42MincomeTaxExpensePretax incomeMYR 20.91MincomeBeforeTaxTax rate40.0%EquityMYR 456.25MtotalStockholderEquityDebtMYR 132.38MshortLongTermDebtTotalCashMYR 31.20McashAndShortTermInvestmentsInvested capitalMYR 557.42MThe effective tax rate was above 40% and was capped at 40%.Result 3.3% 0.26xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeMYR 30.55MoperatingIncomeNet PP&EMYR 115.47MpropertyPlantEquipmentResult 0.26x
2020 12.8%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 112.50MpropertyPlantEquipmentInventoryMYR 10.83MinventoryTotal assetsMYR 963.48MtotalAssetsResult 12.8% 5.01xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueMYR 563.27MtotalRevenueNet PP&EMYR 112.50MpropertyPlantEquipmentResult 5.01x 0.42xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexMYR 6.67McapitalExpendituresD&AMYR 15.89MreconciledDepreciationResult 0.42x MYR 0.43Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 963.48MtotalAssetsGoodwillMYR 254.69MgoodWillIntangiblesMYR 347.18KintangibleAssetsLiabilitiesMYR 492.86MtotalLiabTangible bookMYR 215.58MShares501,652,610commonStockSharesOutstandingResult MYR 0.43 0.33xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 45.92MebitdaCapexMYR 6.67McapitalExpendituresInterestMYR 7.34MinterestExpenseShort-term debtMYR 110.77MshortTermDebtEBITDA − capexMYR 39.25MPrincipal due is short-term debt.Result 0.33x MYR 25.56MFree cash flow · 2020-12-31Reported free cash flowOperating cash flowMYR 35.80MtotalCashFromOperatingActivitiesCapexMYR 6.67McapitalExpendituresFree cash flowMYR 25.56MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 25.56M 3.2%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 31.27MoperatingIncomeTax expenseMYR 9.37MincomeTaxExpensePretax incomeMYR 23.37MincomeBeforeTaxTax rate40.0%EquityMYR 470.62MtotalStockholderEquityDebtMYR 151.51MshortLongTermDebtTotalCashMYR 35.45McashAndShortTermInvestmentsInvested capitalMYR 586.68MThe effective tax rate was above 40% and was capped at 40%.Result 3.2% 0.28xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeMYR 31.27MoperatingIncomeNet PP&EMYR 112.50MpropertyPlantEquipmentResult 0.28x
2021 18.9%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 109.58MpropertyPlantEquipmentInventoryMYR 67.43MinventoryTotal assetsMYR 938.07MtotalAssetsResult 18.9% 5.42xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueMYR 593.76MtotalRevenueNet PP&EMYR 109.58MpropertyPlantEquipmentResult 5.42x 0.15xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexMYR 2.27McapitalExpendituresD&AMYR 15.58MreconciledDepreciationResult 0.15x MYR 0.41Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 938.07MtotalAssetsGoodwillMYR 254.70MgoodWillIntangiblesMYR 0.00intangibleAssetsLiabilitiesMYR 440.36MtotalLiabTangible bookMYR 243.01MShares591,652,610commonStockSharesOutstandingResult MYR 0.41 5.59xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 61.09MebitdaCapexMYR 2.27McapitalExpendituresInterestMYR 5.54MinterestExpenseShort-term debtMYR 4.98MshortTermDebtEBITDA − capexMYR 58.82MPrincipal due is short-term debt.Result 5.59x MYR 70.89MFree cash flow · 2021-12-31Reported free cash flowOperating cash flowMYR 74.71MtotalCashFromOperatingActivitiesCapexMYR 2.27McapitalExpendituresFree cash flowMYR 70.89MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 70.89M 5.6%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 45.27MoperatingIncomeTax expenseMYR 13.40MincomeTaxExpensePretax incomeMYR 39.98MincomeBeforeTaxTax rate33.5%EquityMYR 497.70MtotalStockholderEquityDebtMYR 57.73MlongTermDebt + shortLongTermDebtCashMYR 19.32McashAndShortTermInvestmentsInvested capitalMYR 536.11MResult 5.6% 0.41xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeMYR 45.27MoperatingIncomeNet PP&EMYR 109.58MpropertyPlantEquipmentResult 0.41x
2022 20.3%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 104.55MpropertyPlantAndEquipmentNetInventoryMYR 81.23MinventoryTotal assetsMYR 916.76MtotalAssetsResult 20.3% 5.86xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueMYR 612.80MtotalRevenueNet PP&EMYR 104.55MpropertyPlantAndEquipmentNetResult 5.86x 0.21xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexMYR 3.36McapitalExpendituresD&AMYR 15.64MreconciledDepreciationResult 0.21x MYR 0.43Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 916.76MtotalAssetsGoodwillMYR 254.69MgoodWillIntangiblesMYR 0.00intangibleAssetsLiabilitiesMYR 409.37MtotalLiabTangible bookMYR 252.69MShares591,652,610commonStockSharesOutstandingResult MYR 0.43 1.03xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 46.76MebitdaCapexMYR 3.36McapitalExpendituresInterestMYR 648.00KinterestExpenseShort-term debtMYR 41.59MshortTermDebtEBITDA − capexMYR 43.40MPrincipal due is short-term debt.Result 1.03x -MYR 6.63MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-MYR 2.53MtotalCashFromOperatingActivitiesCapexMYR 3.36McapitalExpendituresFree cash flow-MYR 6.63MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 6.63M 3.3%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 30.89MoperatingIncomeTax expenseMYR 11.64MincomeTaxExpensePretax incomeMYR 25.61MincomeBeforeTaxTax rate40.0%EquityMYR 507.38MtotalStockholderEquityDebtMYR 92.67MlongTermDebt + shortLongTermDebtCashMYR 32.31McashAndShortTermInvestmentsInvested capitalMYR 567.75MThe effective tax rate was above 40% and was capped at 40%.Result 3.3% 0.30xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeMYR 30.89MoperatingIncomeNet PP&EMYR 104.55MpropertyPlantAndEquipmentNetResult 0.30x
2023 23.0%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 127.50MpropertyPlantEquipmentInventoryMYR 131.07MinventoryTotal assetsMYR 1.12BtotalAssetsResult 23.0% 7.62xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueMYR 971.83MtotalRevenueNet PP&EMYR 127.50MpropertyPlantEquipmentResult 7.62x 0.53xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexMYR 9.79McapitalExpendituresD&AMYR 18.46MreconciledDepreciationResult 0.53x MYR 0.50Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 1.12BtotalAssetsGoodwillMYR 254.69MgoodWillIntangiblesMYR 0.00intangibleAssetsLiabilitiesMYR 570.10MtotalLiabTangible bookMYR 298.23MShares591,652,610commonStockSharesOutstandingResult MYR 0.50 2.78xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 93.75MebitdaCapexMYR 9.79McapitalExpendituresInterestMYR 6.09MinterestExpenseShort-term debtMYR 24.16MshortTermDebtEBITDA − capexMYR 83.96MPrincipal due is short-term debt.Result 2.78x MYR 4.26MFree cash flow · 2023-12-31Reported free cash flowOperating cash flowMYR 14.05MtotalCashFromOperatingActivitiesCapexMYR 9.79McapitalExpendituresFree cash flowMYR 4.26MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 4.26M 9.3%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 75.06MoperatingIncomeTax expenseMYR 18.74MtaxProvisionPretax incomeMYR 69.21MincomeBeforeTaxTax rate27.1%EquityMYR 552.93MtotalStockholderEquityDebtMYR 68.68MlongTermDebt + shortLongTermDebtCashMYR 35.61McashAndShortTermInvestmentsInvested capitalMYR 586.00MResult 9.3% 0.59xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeMYR 75.06MoperatingIncomeNet PP&EMYR 127.50MpropertyPlantEquipmentResult 0.59x
2024 19.6%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 144.48MpropertyPlantEquipmentInventoryMYR 75.95MinventoryTotal assetsMYR 1.12BtotalAssetsResult 19.6% 7.14xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueMYR 1.03BtotalRevenueNet PP&EMYR 144.48MpropertyPlantEquipmentResult 7.14x 1.56xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexMYR 34.28McapitalExpendituresD&AMYR 21.99MreconciledDepreciationResult 1.56x MYR 0.59Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 1.12BtotalAssetsGoodwillMYR 254.70MgoodWillIntangiblesMYR 0.00intangibleAssetsLiabilitiesMYR 517.89MtotalLiabTangible bookMYR 350.59MShares591,652,605commonStockSharesOutstandingResult MYR 0.59 8.15xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 117.23MebitdaCapexMYR 34.28McapitalExpendituresInterestMYR 7.23MinterestExpenseShort-term debtMYR 2.94MshortTermDebtEBITDA − capexMYR 82.95MPrincipal due is short-term debt.Result 8.15x MYR 72.48MFree cash flow · 2024-12-31Reported free cash flowOperating cash flowMYR 106.76MtotalCashFromOperatingActivitiesCapexMYR 34.28McapitalExpendituresFree cash flowMYR 72.48MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 72.48M 11.6%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 94.70MoperatingIncomeTax expenseMYR 26.10MtaxProvisionPretax incomeMYR 88.01MincomeBeforeTaxTax rate29.7%EquityMYR 602.12MtotalStockholderEquityDebtMYR 64.73MlongTermDebt + shortLongTermDebtCashMYR 90.98McashAndShortTermInvestmentsInvested capitalMYR 575.87MResult 11.6% 0.66xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeMYR 94.70MoperatingIncomeNet PP&EMYR 144.48MpropertyPlantEquipmentResult 0.66x
2025 13.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 128.30MpropertyPlantEquipmentInventoryMYR 26.28MinventoryTotal assetsMYR 1.16BtotalAssetsResult 13.4% 7.15xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueMYR 916.91MtotalRevenueNet PP&EMYR 128.30MpropertyPlantEquipmentResult 7.15x 0.32xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexMYR 7.71McapitalExpendituresD&AMYR 24.44MreconciledDepreciationResult 0.32x MYR 0.63Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 1.16BtotalAssetsGoodwillMYR 254.70MgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 525.43MtotalLiabTangible bookMYR 375.11MShares591,652,610commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.63 1.38xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 101.37MebitdaCapexMYR 7.71McapitalExpendituresInterestMYR 976.00KinterestExpenseShort-term debtMYR 66.70MshortTermDebtEBITDA − capexMYR 93.66MPrincipal due is short-term debt.Result 1.38x -MYR 44.71MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-MYR 37.00MtotalCashFromOperatingActivitiesCapexMYR 7.71McapitalExpendituresFree cash flow-MYR 44.71MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 44.71M 8.1%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 76.32MoperatingIncomeTax expenseMYR 19.47MtaxProvisionPretax incomeMYR 69.80MincomeBeforeTaxTax rate27.9%EquityMYR 629.80MtotalStockholderEquityDebtMYR 125.81MlongTermDebt + shortLongTermDebtCashMYR 73.09McashAndShortTermInvestmentsInvested capitalMYR 682.53MResult 8.1% 0.59xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeMYR 76.32MoperatingIncomeNet PP&EMYR 128.30MpropertyPlantEquipmentResult 0.59x
  • Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: MYR 128.30M
Inventory: MYR 26.28M
Total assets: MYR 1.16B
Goodwill: MYR 254.70M
Intangibles: MYR 0.00
Liabilities: MYR 525.43M
Tangible book: MYR 375.11M
Shares: 591,652,610
Revenue: MYR 916.91M
Capex: MYR 7.71M
D&A: MYR 24.44M
EBITDA: MYR 101.37M
Interest: MYR 976.00K
Short-term debt: MYR 66.70M
Free cash flow: -MYR 44.71M
Operating income: MYR 76.32M
Invested capital: MYR 682.53M
Tax rate: 27.9%