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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Revenue Multiple | 5.3x - 5.9x | 5.6x |
Selected Fwd Revenue Multiple | 5.3x - 5.9x | 5.6x |
Fair Value | S$0.00100 - S$0.0011 | S$0.0011 |
Upside | -0.2% - 14.9% | 7.3% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
China Ever Grand Financial Leasing Group Co., Ltd. | 379 | SEHK:379 |
NOIZ Group Limited | 8163 | SEHK:8163 |
Dingyi Group Investment Limited | 508 | SEHK:508 |
Hi Sun Technology (China) Limited | 818 | SEHK:818 |
AGTech Holdings Limited | 8279 | SEHK:8279 |
Joyas International Holdings Limited | E9L | Catalist:E9L |
Select LTM Revenue Multiple | ||||||||
Benchmark Companies | ||||||||
379 | 8163 | 508 | 818 | 8279 | E9L | |||
SEHK:379 | SEHK:8163 | SEHK:508 | SEHK:818 | SEHK:8279 | Catalist:E9L | |||
Historical Revenue Growth | ||||||||
5Y CAGR | 7.3% | -45.4% | 26.1% | -15.9% | 28.5% | 10.4% | ||
3Y CAGR | -6.5% | 4.6% | 56.2% | -17.6% | 34.3% | 0.7% | ||
Latest Twelve Months | 91.6% | 22.2% | 162.9% | -13.6% | NM | 0.1% | ||
Historical EBIT Profit Margin | ||||||||
5 Year Average Margin | -144.7% | -97.2% | 22.3% | 5.5% | -31.1% | -284.2% | ||
Prior Fiscal Year | -58.2% | -68.6% | 18.7% | 1.0% | -5.9% | 8.3% | ||
Latest Fiscal Year | -49.7% | -76.5% | 13.7% | -5.4% | -5.6% | 11.0% | ||
Latest Twelve Months | -49.7% | -76.5% | 3.9% | -5.4% | -3.2% | 11.0% | ||
Current Trading Multiples | ||||||||
EV / LTM Revenue | 1.09x | 1.40x | 1.19x | -0.79x | -0.17x | 5.32x | ||
EV / LTM EBIT | -2.2x | -1.8x | 30.7x | 14.6x | 5.3x | 48.2x | ||
Price / LTM Sales | 1.15x | 1.94x | 0.27x | 0.38x | 3.79x | 3.64x | ||
Low | Mid | High | ||||||
Benchmark EV / LTM Revenue | -0.79x | 1.09x | 1.40x | |||||
Historical EV / LTM Revenue | 5.14x | 7.12x | 37.51x | |||||
Selected EV / LTM Revenue | 5.31x | 5.58x | 5.86x | |||||
(x) LTM Revenue | 4 | 4 | 4 | |||||
(=) Implied Enterprise Value | 19 | 20 | 21 | |||||
(-) Non-shareholder Claims * | (6) | (6) | (6) | |||||
(=) Equity Value | 13 | 14 | 15 | |||||
(/) Shares Outstanding | 2,213.8 | 2,213.8 | 2,213.8 | |||||
Implied Value Range | 0.01 | 0.01 | 0.01 | |||||
FX Rate: HKD/SGD | 5.9 | 5.9 | 5.9 | Market Price | ||||
Implied Value Range (Trading Cur) | 0.00 | 0.00 | 0.00 | 0.00 | ||||
Upside / (Downside) | -0.6% | 6.9% | 14.4% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | 379 | 8163 | 508 | 818 | 8279 | E9L | |
Enterprise Value | (36) | 33 | 1,094 | (5,360) | (103) | 19 | |
(+) Cash & Short Term Investments | 17 | 11 | 134 | 3,454 | 2,652 | 10 | |
(+) Investments & Other | 146 | 5 | 0 | 3,512 | 0 | 0 | |
(-) Debt | (10) | (3) | (982) | (118) | (83) | (15) | |
(-) Other Liabilities | 0 | 0 | 0 | (592) | (167) | (1) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 116 | 45 | 247 | 896 | 2,299 | 13 | |
(/) Shares Outstanding | 1,687.3 | 604.4 | 850.7 | 2,758.2 | 11,672.3 | 2,213.8 | |
Implied Stock Price | 0.07 | 0.08 | 0.29 | 0.33 | 0.20 | 0.01 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 5.88 | |
Implied Stock Price (Trading Cur) | 0.07 | 0.08 | 0.29 | 0.33 | 0.20 | 0.00 | |
Trading Currency | HKD | HKD | HKD | HKD | HKD | SGD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 5.88 |