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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 41.5x - 45.9x | 43.7x |
Selected Fwd P/E Multiple | 31.5x - 34.8x | 33.1x |
Fair Value | ¥32.47 - ¥35.88 | ¥34.17 |
Upside | -14.9% - -6.0% | -10.4% |
Benchmarks | - | Full Ticker |
Tongcheng Travel Holdings Limited | 78,000.0% | SEHK:780 |
Changbai Mountain Tourism Co., Ltd. | 60,309,900.0% | SHSE:603099 |
Haidilao International Holding Ltd. | 686,200.0% | SEHK:6862 |
GreenTree Hospitality Group Ltd. | - | NYSE:GHG |
Atour Lifestyle Holdings Limited | - | NasdaqGS:ATAT |
Western Regions Tourism Development Co.,Ltd | 30,085,900.0% | SZSE:300859 |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
780 | 603099 | 6862 | GHG | ATAT | 300859 | |||
SEHK:780 | SHSE:603099 | SEHK:6862 | NYSE:GHG | NasdaqGS:ATAT | SZSE:300859 | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 23.5% | 15.3% | 15.0% | -6.2% | 182.3% | 15.7% | ||
3Y CAGR | 39.7% | NM- | NM- | 1.0% | 114.1% | NM- | ||
Latest Twelve Months | 27.0% | 12.0% | 4.6% | -17.8% | 73.0% | -10.2% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 7.6% | -7.9% | 2.9% | 9.7% | 10.1% | 6.3% | ||
Prior Fiscal Year | 13.1% | -29.5% | 10.9% | -28.9% | 15.8% | -9.1% | ||
Latest Fiscal Year | 11.4% | 22.3% | 11.0% | 16.6% | 17.6% | 34.6% | ||
Latest Twelve Months | 11.4% | 18.7% | 11.0% | 14.0% | 17.6% | 31.4% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 9.8x | 35.4x | 10.5x | 3.2x | 12.3x | 40.5x | ||
Price / LTM Sales | 2.5x | 12.6x | 2.2x | 1.2x | 3.3x | 19.3x | ||
LTM P/E Ratio | 22.2x | 67.4x | 19.6x | 8.2x | 18.8x | 61.5x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | 8.2x | 19.6x | 67.4x | |||||
Historical LTM P/E Ratio | -387.4x | -18.0x | 87.5x | |||||
Selected P/E Multiple | 41.5x | 43.7x | 45.9x | |||||
(x) LTM Net Income | 96 | 96 | 96 | |||||
(=) Equity Value | 3,996 | 4,206 | 4,416 | |||||
(/) Shares Outstanding | 155.0 | 155.0 | 155.0 | |||||
Implied Value Range | 25.78 | 27.14 | 28.49 | |||||
FX Rate: CNY/CNY | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 25.78 | 27.14 | 28.49 | 38.16 | ||||
Upside / (Downside) | -32.4% | -28.9% | -25.3% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 780 | 603099 | 6862 | GHG | ATAT | 300859 | |
Value of Common Equity | 44,933 | 9,048 | 88,908 | 1,621 | 23,889 | 5,915 | |
(/) Shares Outstanding | 2,288.7 | 266.7 | 5,574.0 | 101.5 | 137.6 | 155.0 | |
Implied Stock Price | 19.63 | 33.93 | 15.95 | 15.96 | 173.61 | 38.16 | |
FX Conversion Rate to Trading Currency | 0.94 | 1.00 | 0.94 | 7.29 | 7.29 | 1.00 | |
Implied Stock Price (Trading Cur) | 20.90 | 33.93 | 16.98 | 2.19 | 23.82 | 38.16 | |
Trading Currency | HKD | CNY | HKD | USD | USD | CNY | |
FX Rate to Reporting Currency | 0.94 | 1.00 | 0.94 | 7.29 | 7.29 | 1.00 |