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BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)

Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

Last Close Avg Daily Vol 52-Week High Trailing PE Annual Div ROE LTG Forecast 1-Mo Return
0.51 (MYR) 67,173 0.67 -- -- -2536% -- 1.0%
2024 August 01 Market Cap 52-Week Low Forward PE Dividend Yield Annual Rev Inst Own 3-Mo Return
MALAYSIA Exchange
288M 0.39 -- -- 139M 3.7% 2.0%

AVERAGE SCORE
NEGATIVE OUTLOOK: BHIC's current score of Score Averages
3 places it among the bottom quartile of stocks Machinery & Heavy Vehicles Group: 5.8 Small Market Cap: 5.2
scored. Industrial Goods Sector: 5.8 FBM KLCI Index: 6.6

Average Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive COASTAL 7 7 9 8 9
PENERGY 9 8 9 9 9
Neutral SEALINK 7 4 6 7 7
TAS 8 6 6 7 7
Negative
BHIC 3 1 3 4 3
2021-07 2022-07 2023-07 2024-07

HIGHLIGHTS I/B/E/S MEAN


- The score for Boustead Heavy Industries dropped slightly this
week from 4 to 3. NA Mean recommendation from all analysts covering
0 Analysts the company on a standardized 5-point scale.
- The recent change in the Average Score was primarily due to a
decline in the Price Momentum component score.
Strong Strong
Sell Hold Buy
Sell Buy

PRICE AND VOLUME CHARTS


1-Year Return: 23.2% 5-Year Return: -60.5%

BUSINESS SUMMARY
Boustead Heavy Industries Corporation Berhad is a Malaysia-based investment holding company. The Company provides in-service support (ISS) and
refit works for Royal Malaysian Navy (RMN) submarines. It is also involved in the aerospace sector through joint venture companies, supplying
specialized services and products for applications in both the defense and commercial spaces. Its segments include Defence and Security, Commercial
and Others. Defence and Security segment is principally engaged in shipbuilding and maintenance, repair and overhaul (MRO) of RMN's patrol
vessels. It is also involved in manufacturing, supply and maintenance of defense related electronic products. Its Commercial segment is engaged in the
heavy engineering, shipbuilding, MRO of non-related vessels, providing training, trading of goods and MRO of aircraft wheels and brakes. It also offers
a range of helicopter-related MRO services to the RMAF, RMN and the Malaysian Maritime Enforcement Agency (MMEA).

Page 1 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

INDICATOR COMPONENTS
The AVERAGE SCORE combines the quantitative analysis of five widely-used investment decision making tools: Earnings,
Fundamental, Relative Valuation, Risk, and Price Momentum. A simple average of the underlying component ratings is normally
distributed to rank stocks on a 1-10 scale (10 being awarded to the most favorable). These factors may be evaluated differently using
alternative methodologies and the importance of individual factors varies across industries, market capitalization and investment styles.
Additional criteria should always by used to evaluate a stock.

Earnings Fundamental Relative Valuation Risk Price Momentum

PEER ANALYSIS Currency in MYR

PRICE MOMENTUM VALUATION FUNDAMENTAL ANALYSTS


Average Price 1-Mo 3-Mo 1-Yr Market Trailing Forward Dividend Net LTG I/B/E/S # of
Score Ticker (2024-08-01) Return Return Return Cap PE PE Yield Margin Forecast Mean Analysts
9 COASTAL 1.82 3.4% 21.3% -17.3% 1,000M 3.0 8.1 -- 119.1% -- Hold 3

9 PENERGY 1.55 0.65% 10.7% 91.4% 486M 8.8 -- 4.5% 9.5% -- -- --

7 TONGHER 2.20 -4.3% -9.1% -15.7% 351M 74.8 -- 3.4% 0.8% -- -- --

5 CHINWEL 1.17 -4.1% -1.7% -14.6% 350M 32.1 30.8 4.7% 3.0% -- Sell 2

5 CNERGEN 0.58 -14.1% 0.87% -24.7% 301M 29.6 -- 2.8% 7.4% -- -- --

7 AIMFLEX 0.19 8.6% 18.8% 22.6% 295M 29.9 -- -- 11.0% -- -- --

8 PWRWELL 0.51 3.0% 15.9% 142.9% 293M 15.0 -- 5.9% 12.7% -- -- --

3 BHIC 0.51 1.0% 2.0% 23.2% 288M -- -- -- -191.2% -- -- --

10 MIKROMB 0.28 19.6% 12.2% 14.6% 279M 9.0 -- 0.18% 55.8% -- -- --

7 SEALINK 0.33 -7.1% 66.7% 282% 160M 17.3 -- -- 8.0% -- -- --

7 TAS 0.69 -14.9% -9.3% 174.0% 126M 4.7 11.4 2.9% 30.4% -- -- --

7 Average 0.89 -0.76% 11.7% 61.7% 357M 22.4 16.8 3.5% 6.1% -- Sell 2.5

PEER COMPANIES
AIMFLEX Aimflex PENERGY Petra Energy
CHINWEL Chin Well Holdings PWRWELL Powerwell Holdings
CNERGEN Cnergenz SEALINK Sealink International
COASTAL Coastal Contracts TAS TAS Offshore
MIKROMB Mikro MSC TONGHER Tong Herr Resources

Page 2 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

EARNINGS Currency in MYR

This company does not currently meet the data Earnings Score Averages
requirements to calculate a score for this Machinery & Heavy Vehicles Group: 4.8 Small Market Cap: 5.1
component. Industrial Goods Sector: 4.8 FBM KLCI Index: 5.7

Earnings Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive COASTAL 3 7 10 10 10
BHIC NR NR NR NR NR
Neutral PENERGY NR NR NR NR NR
SEALINK NR NR NR NR NR
Negative
TAS NR NR NR NR NR
2021-07 2022-07 2023-07 2024-07

EARNINGS INDICATORS
Earnings Surprises Estimate Revisions Recommendation Changes
(33.3% weight) (33.3% weight) (33.3% weight)

COASTAL COASTAL

COASTAL

BHIC BHIC BHIC


PENERGY PENERGY PENERGY
SEALINK SEALINK SEALINK
TAS TAS TAS

Last 4 Quarters Last 4 Weeks Last 120 Days


# Positive Surprises (>2%) 0 # Up Revisions -- # Broker Upgrades 0
# Negative Surprises (<-2%) 0 # Down Revisions -- # Broker Downgrades 0
# In-Line Surprises (within 2%) 0 Avg Up Revisions --
Avg Surprise -- Avg Down Revisions --

HIGHLIGHTS PRICE TARGET


- Due to a lack of recent analyst activity, no Earnings Rating can be The chart indicates where analysts predict the stock price will be within
calculated for Boustead Heavy Industries. The average Earnings the next 12 months, as compared to the current price.
Rating for its Shipbuilding industry is 10.0 and the FTSE BURSA
MALAYSIA COMPOSITE index average is 5.7. 12-Month Price Target
Mean (MYR) --
- There have been no upward or downward broker recommendation
High --
changes for Boustead Heavy Industries over the past 120 days.
Data is not available Low --
Target vs. Current --
# of Analysts --

Current Price Price Target


(MYR)

Page 3 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

EARNINGS PER SHARE


Actuals Estimates

Earnings per share (EPS) is calculated Quarterly -- --


by dividing a company's earnings by the Mean -- --
number of shares outstanding. Analysts Quarterly data is not available
tend to interpret a pattern of increasing High -- --
earnings as a sign of strength and flat Low -- --
or falling earnings as a sign of
# of Analysts -- --
weakness.

The charts provide a comparison NA NA NA NA


between a company's actual and
estimated EPS, including the high and Actuals Estimates
low forecasts.
Annual -- --
Mean -- --
Annual data is not available
High -- --
Low -- --
# of Analysts -- --

NA NA NA NA

MEAN ESTIMATE TREND ANALYST RECOMMENDATIONS


Q Q Y Y Price I/B/E/S Mean: NA (0 Analysts)
-- -- -- -- Target
Strong Buy 0
Current -- -- -- -- --
30 Days Ago -- -- -- -- -- Buy 0
90 Days Ago -- -- -- -- -- Hold 0
% Change (90 Days) -- -- -- -- --
Sell 0
Current Fiscal Year End: --
Strong Sell 0
Next Expected Report Date: --

EARNINGS SURPRISES
Comparing a company's actual earnings to the mean expectation of Surprise Detail (Last 6 Periods)
analysts results in a difference referred to as a 'positive' or 'negative'
surprise. Research has shown that when a company reports a Surprise Announce Period End Actual Mean Surprise
surprise, it is often followed by more of the same surprise type. Type Date Date EPS EPS (%)
Surprise Summary (Last 12 Quarters)

Surprise Type Amount Percent There are no earnings surprises during this time period.
Positive Quarters (> 2%) 0 --
Negative Quarters (< -2%) 0 --
In-Line Quarters (within 2%) 0 --

ANNUAL REVENUE
A pattern of increasing sales in Actuals Estimates
conjunction with a rising EPS may
influence a buy recommendation, while NA NA
flat or falling sales and faltering
earnings may explain a sell Mean -- --
recommendation. A rising EPS with flat Annual revenue data is not available High -- --
or falling sales may result from
increased cost efficiency and margins, Low -- --
rather than market expansion. This Forecasted Growth -- --
chart shows the sales forecast trend of # of Analysts -- --
all analysts and the highest and lowest
projections for the current and next NA NA NA NA
fiscal year.

Page 4 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

FUNDAMENTAL
NEUTRAL OUTLOOK: Fundamentals relatively Fundamental Score Averages
in-line with the market. Machinery & Heavy Vehicles Group: 5.4 Small Market Cap: 5.3
Industrial Goods Sector: 5.4 FBM KLCI Index: 6.4

Q3 Q4 Q1 Q2
Fundamental Score Trend Peers 2023 2023 2024 2024 Current 3Y Trend
PENERGY 10 10 9 9 10
Positive
SEALINK 10 9 10 10 10
Neutral TAS 7 7 3 8 10

Negative COASTAL NR NR 10 10 9

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 BHIC 4 3 5 5 7
2022 2023

FUNDAMENTAL INDICATORS
Profitability Debt Earnings Quality Dividend
(25% weight) (25% weight) (25% weight) (25% weight)

PENER…
COAST… PENER…
SEALIN… PENER…
TAS SEALIN…
TAS TAS
SEALIN… BHIC
COAST…

BHIC BHIC COAST…

PENER… TAS

BHIC
COAST…
SEALIN…

Revenue Growth 25.8% Current Ratio 1.3 Oper. Cash Yield 100.6%Dividend Growth --
For year over year For interim period For latest 12 months For year over year
ending 2024-03 ending 2024-03 ending -- ending --
Gross Margin 77.3% Debt-to-Capital 7.2% Accruals -243.3% Dividend Payout --
For latest 12 months For annual period For latest 12 months For latest 12 months
ending 2024-03 ending 2023-12 ending 2023-12 ending --
Return On Equity -2536% Interest Funding -1.0% Days Sales In Inv. -- Dividend Coverage --
For interim period For interim period For annual period For annual period
ending 2024-03 ending 2024-03 ending -- ending --
Net Margin -191.2% Interest Coverage -17.2 Days Sales In Rec. 223.6 Current Div. Yield --
For latest 12 months For interim period For annual period For latest 12 months
ending 2024-03 ending 2024-03 ending 2023-12 ending --

HIGHLIGHTS
- The Fundamental Rating for Boustead Heavy Industries improved - The accruals ratio for BHIC is the lowest within its Machinery & Heavy
significantly over the last quarter from 3 to 7. The average Vehicles industry group.
Fundamental Rating for its Machinery & Heavy Vehicles industry group - Boustead Heavy Industries does not currently pay a dividend. Of 68
is 5.4 and the FTSE BURSA MALAYSIA COMPOSITE index average firms within the Machinery & Heavy Vehicles industry group, it is
is 6.4. among the 28 companies without a dividend.
- The gross margin of 77.3% for BHIC is the highest within its Machinery
& Heavy Vehicles industry group.
- The company's debt-to-capital has been higher than its industry group
average for each of the past five years.

Page 5 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

RELATIVE VALUATION
This company does not currently meet the data Relative Valuation Score Averages
requirements to calculate a score for this Machinery & Heavy Vehicles Group: 5.3 Small Market Cap: 5.7
component. Industrial Goods Sector: 5.3 FBM KLCI Index: 5.1

Relative Valuation Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive PENERGY 8 7 9 9 9
COASTAL 8 7 8 8 8
Neutral TAS 7 6 6 6 7
SEALINK 3 4 5 5 5
Negative
BHIC 2 3 NR NR NR
2021-07 2022-07 2023-07 2024-07

RELATIVE VALUATION INDICATORS


Price to Sales Trailing PE Forward PE
(33.3% weight) (33.3% weight) (33.3% weight)

COASTAL
COASTAL
TAS
TAS
PENERGY

COASTAL SEALINK

TAS

BHIC BHIC BHIC


PENERGY PENERGY
SEALINK SEALINK

Price to Sales -- Trailing PE -- Forward PE --


5-Yr Average 0.9 5-Yr Average -- 5-Yr Average --
Rel. to 5-Yr Avg. -- Rel. to 5-Yr Avg. -- Rel. to 5-Yr Avg. --
FBM KLCI Index 2.0 FBM KLCI Index 16.8 FBM KLCI Index 15.1
Rel. to FBM KLCI -- Rel. to FBM KLCI -- Rel. to FBM KLCI --

HIGHLIGHTS
- There is no significant relative valuation data for this company.

Page 6 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

PRICE TO SALES TRAILING PE


The most recent week's close price divided by the revenue per share. The most recent week's close price divided by the sum of the four most
recently reported quarterly earnings.
Price to Sales: -- Trailing PE: --
5-Year Average: 0.9 5-Year Average: --
FBM KLCI Index Average: 2.0 FBM KLCI Index Average: 16.8
Machinery & Heavy Vehicles Group Average: 2.8 Machinery & Heavy Vehicles Group Average: 62.8
2.4 14.0
2.2 13.0
2.0 12.0
1.8 11.0
1.6 10.0
1.4 9.0
1.2 8.0
1.0 7.0
5-Yr Average
0.8 6.0
0.6 5.0
0.4 4.0
2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024

FORWARD PE FORWARD PEG


The most recent week's close price divided by the sum of the four The Forward P/E divided by the five-year forecasted growth rate.
upcoming quarterly consensus estimates.
Forward PE: -- Forward PEG: --
5-Year Average: -- 5-Year Average: --
FBM KLCI Index Average: 15.1 FBM KLCI Index Average: 0.7
Machinery & Heavy Vehicles Group Average: 36.5 Machinery & Heavy Vehicles Group Average: 1.7
>50 >5.0
45 4.5
40 4.0
35 3.5
30 3.0
25 This valuation data is not available 2.5 This valuation data is not available
20 2.0
15 1.5
10 1.0
5 0.5
<0 <0.0
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

Page 7 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

RISK
NEGATIVE OUTLOOK: Variable return patterns Risk Score Averages
(high volatility). Machinery & Heavy Vehicles Group: 4.9 Small Market Cap: 4.9
Industrial Goods Sector: 4.9 FBM KLCI Index: 9.2

Risk Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive COASTAL 6 7 8 7 8
PENERGY 5 5 5 5 5
Neutral TAS 2 2 3 3 3
BHIC 3 3 3 2 2
Negative
SEALINK 2 1 2 1 1
2021-07 2022-07 2023-07 2024-07

RISK INDICATORS
Magnitude of Returns Volatility Beta (1-year) Correlation
(25% weight) (25% weight) (25% weight) (25% weight)

COAST…

COAST…
COAST… BHIC COAST… PENER…
BHIC PENER… PENER… SEALIN…
TAS

PENER… TAS
TAS
TAS BHIC BHIC
SEALIN…
SEALIN… SEALIN…

Daily Returns (Last 90 Days) Standard Deviation Beta vs. FBM KLCI 1.11 Correlation vs. FBM KLCI
Best 10.4% Last 90 Days 2.55 Positive Days Only 1.02 Last 90 Days -1%
Worst -6.1% Last 60 Months 10.78 Negative Days Only 0.20 Last 60 Months 10%
Monthly Returns (Last 60 Months) Intra-Day Swing (Last 90 Days) Beta vs. Group -0.01 Correlation vs. Group
Best 33.3% Average 3.3% Positive Days Only -0.36 Last 90 Days 7%
Worst -27.2% Largest 22.8% Negative Days Only 0.37 Last 60 Months -2%

HIGHLIGHTS RISK ANALYSIS


- Boustead Heavy Industries currently has a Risk Rating of 2, Last 90 Days Last 60 Months
which is significantly below the FTSE BURSA MALAYSIA Best Worst # # Largest Best Worst
COMPOSITE index average rating of 9.2. Daily Daily Days Days Intra-Day Monthly Monthly
- On days when the market is up, BHIC tends to perform in-line Peers Return Return Up Down Swing Return Return
with the FTSE BURSA MALAYSIA COMPOSITE index. On BHIC 10.4% -6.1% 24 23 22.8% 33.3% -27.2%
days when the market is down, the shares generally decrease
by less than the index. COASTAL 6.5% -1.8% 25 22 7.9% 60.5% -39.8%
- In both short-term and long-term periods, BHIC has shown low PENERGY 10.7% -5.5% 26 26 11.8% 89.2% -31.6%
correlation (>= -0.1 and < 0.2%) with the FTSE BURSA
MALAYSIA COMPOSITE index. Thus, this stock would provide SEALINK 12.9% -9.4% 29 24 17.8% 67.7% -53.8%
high levels of diversification to a portfolio similar to the broader
market. TAS 12.1% -8.5% 24 29 12.0% 50.0% -34.9%
- Over the last 90 days, BHIC shares have been more volatile FBM KLCI 1.2% -0.88% 27 33 1.4% 7.1% -8.9%
than the overall market. The stock's daily price fluctuations
have exceeded that of all FTSE BURSA MALAYSIA
COMPOSITE index firms.

Page 8 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

PRICE MOMENTUM Currency in MYR

NEGATIVE OUTLOOK: Weak recent price Price Momentum Score Averages


performance or entering historically poor Machinery & Heavy Vehicles Group: 7.1 Small Market Cap: 5.2
seasonal period. Industrial Goods Sector: 7.1 FBM KLCI Index: 4.3

Price Momentum Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive SEALINK 10 4 6 8 8
PENERGY 9 6 6 6 7
Neutral TAS 10 6 5 6 6
BHIC 8 1 2 5 3
Negative
COASTAL 6 1 1 1 1
2021-07 2022-07 2023-07 2024-07

PRICE MOMENTUM INDICATORS


Relative Strength Seasonality
(50% weight) (50% weight)

TAS
PENERGY
SEALINK

BHIC
BHIC
SEALINK

PENERGY
COASTAL TAS
COASTAL

Relative Strength Indicator (Scale from 1 to 100) Average Monthly Return (Last 10 Years)
BHIC Industry Avg Aug Sep Oct
Last 10 Days 53 47 Company Avg -2.0% 3.9% -0.61%
Last 50 Days 51 53 Industry Avg -2.2% 3.2% 2.3%
Last 200 Days 51 53 Industry Rank 46 of 51 5 of 52 12 of 53

PRICE PERFORMANCE
Daily close prices are used to calculate the BHIC BHIC FBM KLCI
performance of the stock as compared to a
FBM KLCI Close Price (2024-08-01) 0.51 1,624
relevant index over five time periods.
52-Week High 0.67 1,634
-1%
1-Week 52-Week Low 0.39 1,416
0.6%

1-Month
1% - On 2024-08-01, BHIC closed at 0.51, 24.1% below its 52-
1.6% week high and 29.5% above its 52-week low.
- The FTSE BURSA MALAYSIA COMPOSITE index is currently
2% 0.60% below its 52-week high and 14.7% above its 52-week
3-Month
3.1% low.
5.2%
YTD
11.7%

23.2%
1-Year
11.9%

Page 9 of 11
© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

Mean Estimate Trend


DETAILED STOCK REPORT TIPS
The mean estimates show how the consensus has changed over the past 30 days
The Stock Report from LSEG is a comprehensive, company-specific analysis that and 90 days for the upcoming two quarters (when available) and two years. The
includes a proprietary Stock Rating along with underlying component indicators and percentage change is calculated for the company as a means for comparison by
supportive data elements. The report is updated daily, although some of the data measuring the difference between the current consensus estimate and that of 90
elements and the ratings are updated weekly. days ago.

Average Score Analyst Recommendations


The Stock Reports Plus Average Score combines a quantitative analysis of five The I/B/E/S Mean is the average recommendation of all analysts covering the stock,
widely-used investment decision making tools - Earnings, Fundamental, Relative as provided by I/B/E/S, the Institutional Brokers Estimate System, from LSEG. The
Valuation, Risk, and Price Momentum. First, a simple average of the five underlying recommendations are presented on a five-point standardized scale: strong buy, buy,
component ratings is calculated. Then, a normal distribution is used to rank each hold, sell, and strong sell.
stock across the market on a scale of 1 to 10, with 10 being most favorable. A score Earnings Surprises
of 8 to 10 is considered positive, 4 to 7 is neutral, and 1 to 3 is negative. These five ● The surprise summary includes the total number of time periods (and percentage)
factors may be evaluated differently using alternative methodologies, and the in the last 12 quarters (quarterly) or last 4 years (annual) in which earnings
importance of individual factors varies across industry groups, market capitalization surprises were positive, negative, or in-line. In order to be recognized as a
and investment styles. Additional criteria should always be used to evaluate a stock. positive or negative surprise, the percent must be greater than 2% above or 2%
below the consensus, respectively.
A company must have sufficient data available for at least three of the five ● The surprise detail section includes a listing of the company's quarterly earnings
component indicators in order to receive an overall Average Score. Approximately reported for the most recent 6 periods (quarters or years). The consensus analyst
85% of the stocks within the coverage universe meet the criteria to generate a estimate is provided to determine if the actual earnings report represented a
score. positive surprise, negative surprise, or in-line result.
Indicator Components Fundamental
The five indicators that comprise the stock rating are displayed. Like the stock The Fundamental Rating is based on a combination of four fundamental component
rating, the component rating scale is 1 to 10, with 10 being best. A company will factors: profitability, debt, earnings quality, and dividend. Companies that do not pay
receive an 'NR' for No Rating if the required data elements or criteria are not met. A a dividend are not penalized. Each factor is equally weighted. Then, equal deciles
detailed section for each component is included in the report. are used to rank each stock across the market on a scale of 1 to 10, with 10 being
most favorable. A stock needs to have at least two of the four fundamental factors
Indicator Trends present in order to receive a score.
Within each component section, historical score trends are displayed, typically using
Profitability
a 4-week moving average over a timeframe of the past three years. The dotted
orange line indicates the average of the scores over those three years. The most ● Revenue Growth: (Net Sales - Previous Net Sales) / Previous Net Sales
recent occurrences of the best and worst scores are also displayed on the chart in ● Gross Margin: Gross Profit / Net Sales
grey boxes to put the current score into historical context. ● Return on Equity: Net Income / Total Equity
● Net Margin: Net Profit / Net Sales
Next to the trend chart for the company, current score averages are included, along
with peer company comparisons of values from 6 months ago, 3 months ago, 1 Debt
month ago, the most recent value from 1 week ago, and the current score. The four ● Current Ratio: Current Assets / Current Liabilities
closest industry peers are presented based on similar market capitalization. ● Debt-to-Capital: Total Debt / Total Capital
● Interest Funding: (Interest Expense on Debt + Preferred Cash Dividends) / Funds
Peer Analysis
from Operations
● The Refinitiv Business Classification (TRBC) schema is used for industry ● Interest Coverage: Earnings before Interest and Taxes / (Interest Expense on
comparisons. It is designed to track and display the primary business of a Debt + Preferred Cash Dividends)
corporation by grouping together correlated companies that offer products and
services into similar end markets. The system includes 10 Economic Sectors, 28 Earnings Quality
Business Sectors, 54 Industry Groups, and 136 Industries. ● Operating Cash Yield: (Operating Cash Flow - Net Income) / Net Income
● The Peer Analysis section of the report compares the company to its ten closest ● Accruals: (Net Income - Operating Cash Flow - Investing Cash Flow) / Average
peers. The peers are selected from the industry based on similar market Net Operating Assets
capitalization. The peer listing may have fewer than ten companies if there are ●
fewer than ten companies classified within that industry. Days Sales in Inventory: 365 / (Cost of Goods Sold / Inventory)
● Days Sales in Receivables: 365 / (Net Sales / Receivables)
Highlights
The automated text-generation system from LSEG creates highlights summarizing Dividend
the most noteworthy data. The bullets will vary by company and will change from The company must have a current dividend yield.
week to week as different criteria are met. ● Dividend Growth Rate: (Dividends per Share - Previous Dividends per Share) /
Previous Dividends per Share
Earnings ● Dividend Funding: Dividends / Operating Cash Flow
The Earnings Rating is based on a combination of three factors: earnings surprises, ● Dividend Coverage: (Pre-Tax Income + Interest Expense) / (Interest Expense +
estimate revisions, and recommendation changes. Each factor is equally weighted. Dividends)
Then, equal deciles are used to rank each stock across the market on a scale of 1 to ● Dividend Yield: Annual Dividends per Share / Current Market Price per Share
10, with 10 being most favorable. A stock needs to have at least two of the three
Indicator Trend
earnings factors in order to receive a score.
The fundamental indicator trend displays either quarterly scores over the past three
● Earnings Surprises - The number of positive and negative surprises within the last years or annual scores over the past six years, depending on the reporting periods
4 periods (quarters or years).

for the country. The best and worst scores can be easily determined from the values
Estimate Revisions - The number of up and down revisions and the average
percentage change of those revisions within a 4 week period. shown on the chart for each quarter or year.
● Recommendation Changes - The number of broker upgrades and downgrades in Relative Valuation
the last 120 days.
The Relative Valuation Rating is based on a combination of three component
Price Target factors: Price to Sales, Trailing P/E, and Forward P/E. Each factor is equally
The price target is based on the predictions of analysts covering the stock and weighted. Equal deciles are then used to rank each stock across the market on a
shows the high, low and mean price expected within the next 12 months. scale of 1 to 10, with 10 being most favorable. These common valuation metrics are
evaluated against the overall market, the index, and the company's own historic 5-
Earnings Per Share
year averages. A stock needs to have at least one of the three relative valuation
The quarterly and annual earnings per share are presented when available, along factors in order to receive a score.
with the mean, high and low. Quarterly data is displayed for the past 4 quarters
● Price to Sales: Close Price / (Sales for 4 Quarters or 1 Year / Shares
(actual) and the next 2 quarters (estimated). Annual data is displayed for the past 2
Outstanding)
years (actual) and the next 2 years (estimated).

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© 2024 LSEG. All rights reserved.
BOUSTEAD HEAVY INDUSTRIES (BHIC-KU)
Industrial Goods / Machinery & Heavy Vehicles / Shipbuilding DETAILED STOCK REPORT
Report Date: 2024-Aug-02

● Trailing P/E: Close Price / Most Recent 4 Quarters or 1 Year of Earnings


● Forward P/E: Close Price / Upcoming 4 Quarters or 1 Year of Earnings
Valuation Averages
Negative values are excluded when calculating the averages. A maximum value of
100 is placed on Trailing P/E and Forward P/E, a maximum value of 5 is placed on
Forward PEG, and a maximum value of 20 is placed on Price to Sales when
calculating the averages. Higher values are rounded down to the maximum for the
averages.
Valuation Multiples
The valuation multiples provide the Trailing P/E, Forward P/E, Forward PEG, and
Price to Sales for the company and the relevant index average. In addition, a
comparison of the current company's values to its 5-year average and an industry
average are presented. A discount occurs when the company's ratio is valued more
favorably (lower) than that to which it is compared.
Risk
The Risk Rating displays stocks on a scale of 1 to 10 with 10 being awarded to the
least risky stocks. It is derived by looking at a series of long-term (5-year) and short-
term (90-day) stock performance measures including volatility, magnitude of returns,
beta, and correlation. Each factor is equally weighted. Then, equal deciles are used
to rank each stock across the market. A stock needs to have at least two of the four
risk factors in order to receive a score.
● Magnitude of Returns - The best / worst daily returns in the past 90 days and the
best / worst monthly returns in the past 60 months.
● Volatility - The standard deviation of the stock price over the last 90 days and last
60 months, along with the average and largest intra-day stock swing.
● Beta - Measures the tendency of a security's returns to respond to swings in the
market, based on the beta of the company versus the relevant index.
● Correlation - Determines how closely the returns of the stock and the relevant
index move together, measured over the last 90 days and last 60 months.
Risk Analysis
Price analysis for the company and the relevant index is provided over two time
periods. Daily analysis is provided for the last 90 days, whereas monthly statistics
are used for the last 60 months.
Price Momentum
The Price Momentum Rating is based on a combination of two technical
performance factors: relative strength and seasonality. The factors are equally
weighted. Equal deciles are then used to rank each stock across the market on a
scale of 1 to 10, with 10 being most favorable. A stock needs to have data for the
relative strength factor in order to receive a score.
● Relative Strength - The relative strength of the company for the last 10 days, 50
days, and 200 days on a scale of 1 to 100.
● Seasonality - The average monthly return (price performance) for the current
month and next 2 months for the company and industry, over the past 10 years. A
lower industry rank indicates a higher return.
Price Performance
Daily close prices are used to calculate the price performance of the stock. The
performance of the relevant index is also displayed as a means of comparison.

DISCLAIMER
© 2024 LSEG. All rights reserved. Republication or redistribution of LSEG content,
including by framing or similar means, is prohibited without the prior written consent
of LSEG. All information in this report is assumed to be accurate to the best of our
ability. LSEG is not liable for any errors or delays in LSEG content, or for any
actions taken in reliance on such content.
Any forward-looking statements included in the LSEG content are based on certain
assumptions and are subject to a number of risks and uncertainties that could cause
actual results to differ materially from current expectations. There is no assurance
that any forward-looking statements will materialize.
The content in this LSEG report does not constitute investment advice or a
recommendation to buy or sell securities of any kind. Past performance is not a
guarantee of future results. Investors should consider this report as only a single
factor when making an investment decision.

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© 2024 LSEG. All rights reserved.

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