Er is iets misgegaan bij het laden van deze pagina.
Ons team heeft al een melding ontvangen, maar neem vooral contact op via de widget e-mailondersteuning als het probleem aanhoudt.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 9,3x - 10,3x | 9,8x |
| Selected Fwd EBITDA Multiple | 8,9x - 9,9x | 9,4x |
| Fair Value | HK$ 17,30 - HK$ 22,52 | HK$ 19,91 |
| Upside | 1,4% - 32,0% | 16,7% |
| Benchmarks | Ticker | Full Ticker |
| China Overseas Grand Oceans Group Limited | 81 | SEHK:81 |
| China Overseas Land & Investment Limited | 688 | SEHK:688 |
| China Resources Land Limited | 1109 | SEHK:1109 |
| Yuexiu Services Group Limited | 6626 | SEHK:6626 |
| China New Town Development Company Limited | 1278 | SEHK:1278 |
| C&D International Investment Group Limited | 1908 | SEHK:1908 |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| 81 | 688 | 1109 | 6626 | 1278 | 1908 | ||
| SEHK:81 | SEHK:688 | SEHK:1109 | SEHK:6626 | SEHK:1278 | SEHK:1908 | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | -17.3% | -12.1% | 0.7% | 34.4% | -9.9% | 24.9% | |
| 3Y CAGR | -32.9% | -19.3% | 0.9% | 4.7% | 26.6% | 24.1% | |
| Latest Twelve Months | -46.2% | -26.2% | -5.3% | 1.3% | -45.0% | 33.0% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 15.8% | 20.6% | 22.4% | 22.2% | 23.1% | 9.2% | |
| Prior Fiscal Year | 9.8% | 17.7% | 19.9% | 19.0% | 74.4% | 5.7% | |
| Latest Fiscal Year | 6.5% | 14.3% | 17.0% | 16.0% | 45.9% | 7.2% | |
| Latest Twelve Months | 6.5% | 14.3% | 17.0% | 16.0% | 45.9% | 7.2% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.53x | 1.32x | 1.44x | 0.47x | 1.36x | 0.66x | |
| EV / LTM EBITDA | 8.2x | 9.2x | 8.5x | 2.9x | 3.0x | 9.2x | |
| EV / LTM EBIT | 8.4x | 9.3x | 8.7x | 3.0x | 3.0x | 9.2x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | 2.9x | 8.2x | 9.2x | ||||
| Historical EV / LTM EBITDA | 9.2x | 11.3x | 15.9x | ||||
| Selected EV / LTM EBITDA | 9.3x | 9.8x | 10.3x | ||||
| (x) LTM EBITDA | 10,247 | 10,247 | 10,247 | ||||
| (=) Implied Enterprise Value | 95,081 | 100,086 | 105,090 | ||||
| (-) Non-shareholder Claims * | (61,488) | (61,488) | (61,488) | ||||
| (=) Equity Value | 33,593 | 38,597 | 43,602 | ||||
| (/) Shares Outstanding | 2,017.2 | 2,017.2 | 2,017.2 | ||||
| Implied Value Range | 16.65 | 19.13 | 21.62 | ||||
| FX Rate: CNY/HKD | 0.9 | 0.9 | 0.9 | Market Price | |||
| Implied Value Range (Trading Cur) | 17.67 | 20.30 | 22.94 | 17.06 | |||
| Upside / (Downside) | 3.6% | 19.0% | 34.4% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 81 | 688 | 1109 | 6626 | 1278 | 1908 | |
| Enterprise Value | 24,215 | 244,005 | 401,698 | (428) | (1,522) | 93,919 | |
| (+) Cash & Short Term Investments | 27,291 | 124,168 | 137,029 | 2,472 | 2,976 | 62,461 | |
| (+) Investments & Other | 931 | 46,185 | 90,617 | 2,267 | 1,980 | 25,634 | |
| (-) Debt | (40,143) | (242,547) | (320,977) | (119) | (2,301) | (84,638) | |
| (-) Other Liabilities | (6,155) | (21,219) | (124,232) | (85) | (492) | (64,945) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 6,139 | 150,592 | 184,135 | 4,106 | 642 | 32,431 | |
| (/) Shares Outstanding | 3,559.4 | 10,944.9 | 7,130.9 | 1,502.2 | 9,726.2 | 2,017.2 | |
| Implied Stock Price | 1.72 | 13.76 | 25.82 | 2.73 | 0.07 | 16.08 | |
| FX Conversion Rate to Trading Currency | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | |
| Implied Stock Price (Trading Cur) | 1.83 | 14.60 | 27.40 | 2.90 | 0.07 | 17.06 | |
| Trading Currency | HKD | HKD | HKD | HKD | HKD | HKD | |
| FX Rate to Reporting Currency | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | |