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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 3.8x - 4.2x | 4.0x |
Selected Fwd Ps Multiple | 4.2x - 4.6x | 4.4x |
Fair Value | ¥11.95 - ¥13.21 | ¥12.58 |
Upside | -34.1% - -27.1% | -30.6% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Scholar Education Group | 176,900.0% | SEHK:1769 |
Shenzhen Mingdiao Decoration Co.,Ltd. | 283,000.0% | SZSE:002830 |
China Hi-Tech Group Co., Ltd. | 60,073,000.0% | SHSE:600730 |
Huakai Yibai Technology Co.,Ltd. | 30,059,200.0% | SZSE:300592 |
Shanghai Action Education Technology CO.,LTD. | 60,509,800.0% | SHSE:605098 |
Matrix Design Co., Ltd. | 30,136,500.0% | SZSE:301365 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
1769 | 2830 | 600730 | 300592 | 605098 | 301365 | |||
SEHK:1769 | SZSE:002830 | SHSE:600730 | SZSE:300592 | SHSE:605098 | SZSE:301365 | |||
Historical Sales Growth | ||||||||
5Y CAGR | 3.7% | 0.5% | 8.7% | 70.8% | 9.0% | 12.8% | ||
3Y CAGR | 0.8% | -3.3% | 13.0% | 264.0% | 21.1% | -4.7% | ||
Latest Twelve Months | 49.4% | -11.2% | 22.3% | 29.1% | 35.5% | 2.0% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 9.2% | 4.0% | -14.2% | -5.2% | 29.5% | 16.2% | ||
Prior Fiscal Year | 15.1% | 2.3% | -2.2% | 4.9% | 24.6% | 20.8% | ||
Latest Fiscal Year | 17.1% | 5.0% | 32.5% | 5.1% | 32.6% | 6.4% | ||
Latest Twelve Months | 17.1% | 5.6% | 32.5% | 2.8% | 32.7% | 6.1% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 11.1x | 14.7x | 83.0x | 22.1x | 10.6x | 718.2x | ||
Price / LTM Sales | 2.8x | 2.2x | 23.3x | 0.6x | 5.9x | 5.8x | ||
LTM P/E Ratio | 16.5x | 39.7x | 71.6x | 21.5x | 18.1x | 94.9x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.6x | 2.8x | 23.3x | |||||
Historical LTM P/S Ratio | 3.5x | 4.3x | 5.0x | |||||
Selected Price / Sales Multiple | 3.8x | 4.0x | 4.2x | |||||
(x) LTM Sales | 553 | 553 | 553 | |||||
(=) Equity Value | 2,082 | 2,192 | 2,302 | |||||
(/) Shares Outstanding | 180.0 | 180.0 | 180.0 | |||||
Implied Value Range | 11.57 | 12.18 | 12.79 | |||||
FX Rate: CNY/CNY | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 11.57 | 12.18 | 12.79 | 18.13 | ||||
Upside / (Downside) | -36.2% | -32.8% | -29.5% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 1769 | 2830 | 600730 | 300592 | 605098 | 301365 | |
Value of Common Equity | 2,525 | 1,576 | 3,614 | 4,664 | 4,619 | 3,263 | |
(/) Shares Outstanding | 563.8 | 131.4 | 586.7 | 404.8 | 119.3 | 180.0 | |
Implied Stock Price | 4.48 | 11.99 | 6.16 | 11.52 | 38.73 | 18.13 | |
FX Conversion Rate to Trading Currency | 0.94 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 4.76 | 11.99 | 6.16 | 11.52 | 38.73 | 18.13 | |
Trading Currency | HKD | CNY | CNY | CNY | CNY | CNY | |
FX Rate to Reporting Currency | 0.94 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |