看來載入頁面時發生了錯誤.
我們的團隊已收到通知，但若此問題持續，請透過電郵支援widget工具聯絡我們。
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM Revenue Multiple | 2.1x - 2.3x | 2.2x |
| Selected Fwd Revenue Multiple | 1.9x - 2.1x | 2.0x |
| Fair Value | €6.68 - €7.18 | €6.93 |
| Upside | 2.3% - 10.0% | 6.2% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| Beijing Yanjing Brewery Co.,Ltd. | 729 | SZSE:000729 |
| Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi | AEFES | IBSE:AEFES |
| China Resources Beer (Holdings) Company Limited | 291 | SEHK:291 |
| Compañía Cervecerías Unidas S.A. | CCU | SNSE:CCU |
| Heineken Holding N.V. | HKHH.F | OTCPK:HKHH.F |
| Tsingtao Brewery Company Limited | TSI | DB:TSI |
| Select LTM Revenue Multiple | ||||||||
| Benchmark Companies | ||||||||
| 729 | AEFES | 291 | CCU | HKHH.F | TSI | |||
| SZSE:000729 | IBSE:AEFES | SEHK:291 | SNSE:CCU | OTCPK:HKHH.F | DB:TSI | |||
| Historical Revenue Growth | ||||||||
| 5Y CAGR | 5.0% | 58.6% | 3.1% | 9.8% | 4.5% | 2.8% | ||
| 3Y CAGR | 7.0% | 80.6% | 5.0% | 5.3% | 10.8% | 2.1% | ||
| Latest Twelve Months | 3.2% | 0.2% | -0.8% | 13.2% | -1.8% | -5.3% | ||
| Historical EBIT Profit Margin | ||||||||
| 5 Year Average Margin | 3.9% | 11.5% | 10.0% | 9.9% | 13.2% | 10.8% | ||
| Prior Fiscal Year | 4.6% | 12.6% | 12.4% | 9.3% | 12.7% | 12.9% | ||
| Latest Fiscal Year | 11.0% | 11.6% | 12.6% | 8.2% | 13.1% | 14.0% | ||
| Latest Twelve Months | 11.0% | 11.6% | 12.6% | 8.2% | 13.1% | 14.0% | ||
| Current Trading Multiples | ||||||||
| EV / LTM Revenue | 1.90x | 0.90x | 2.20x | 1.18x | 1.40x | 2.01x | ||
| EV / LTM EBIT | 17.3x | 7.7x | 17.4x | 14.4x | 10.8x | 14.4x | ||
| Price / LTM Sales | 2.45x | 0.42x | 2.18x | 0.93x | 0.61x | 2.85x | ||
| Low | Mid | High | ||||||
| Benchmark EV / LTM Revenue | 0.90x | 1.40x | 2.20x | |||||
| Historical EV / LTM Revenue | 1.81x | 3.00x | 3.47x | |||||
| Selected EV / LTM Revenue | 2.05x | 2.16x | 2.27x | |||||
| (x) LTM Revenue | 32,138 | 32,138 | 32,138 | |||||
| (=) Implied Enterprise Value | 65,979 | 69,452 | 72,924 | |||||
| (-) Non-shareholder Claims * | 26,742 | 26,742 | 26,742 | |||||
| (=) Equity Value | 92,721 | 96,194 | 99,667 | |||||
| (/) Shares Outstanding | 1,680.2 | 1,680.2 | 1,680.2 | |||||
| Implied Value Range | 55.18 | 57.25 | 59.32 | |||||
| FX Rate: CNY/EUR | 8.3 | 8.3 | 8.3 | Market Price | ||||
| Implied Value Range (Trading Cur) | 6.68 | 6.93 | 7.19 | 6.53 | ||||
| Upside / (Downside) | 2.4% | 6.2% | 10.0% | |||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 729 | AEFES | 291 | CCU | HKHH.F | TSI | |
| Enterprise Value | 26,626 | 206,473 | 85,027 | 3,432,014 | 42,103 | 63,834 | |
| (+) Cash & Short Term Investments | 10,878 | 54,233 | 3,816 | 707,945 | 2,350 | 20,169 | |
| (+) Investments & Other | 0 | 38 | 1,469 | 139,747 | 3,681 | 7,482 | |
| (-) Debt | (1,793) | (78,683) | (2,299) | (1,427,243) | (17,049) | (110) | |
| (-) Other Liabilities | 0 | (85,726) | (3,893) | (147,332) | (12,558) | (799) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 35,711 | 96,336 | 84,120 | 2,705,131 | 18,527 | 90,576 | |
| (/) Shares Outstanding | 2,818.5 | 592.1 | 3,244.2 | 369.5 | 282.9 | 1,680.2 | |
| Implied Stock Price | 12.67 | 162.70 | 25.93 | 7,321.00 | 65.50 | 53.91 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 0.94 | 1.00 | 0.89 | 8.26 | |
| Implied Stock Price (Trading Cur) | 12.67 | 162.70 | 27.50 | 7,321.00 | 73.92 | 6.53 | |
| Trading Currency | CNY | TRY | HKD | CLP | USD | EUR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 0.94 | 1.00 | 0.89 | 8.26 | |