Company Valuation: Blue River Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 430.5 122.5 582.9 234.2 87.44 126
Change - -71.54% 375.73% -59.82% -62.67% 44.05%
Enterprise Value (EV) 1 -832.8 923.5 363.3 239.5 160.6 127.6
Change - 210.89% -60.66% -34.08% -32.92% -20.55%
P/E 2.85x -0.08x -1.01x -0.88x -0.49x 2.45x
PBR 0.11x 0.06x 0.43x 0.25x 0.11x 0.08x
PEG - 0x 0x 0x 0x -0x
Capitalization / Revenue 1.55x 0.01x 7.56x 3.78x 2.24x 3.6x
EV / Revenue -3x 0.09x 4.71x 3.86x 4.12x 3.64x
EV / EBITDA 1.26x -4.29x -6.99x -2.58x -3.68x -4.5x
EV / EBIT 1.21x -3x -3.24x -2.41x -3.41x -4.13x
EV / FCF -1.72x -0.88x 0.18x -4.54x -2.29x 2.88x
FCF Yield -58% -114% 552% -22% -43.7% 34.7%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.137 -1.475 -0.5544 -0.2548 -0.1704 0.0493
Distribution rate - - - - - -
Net sales 1 277.3 10,795 77.09 61.97 39.01 35.02
EBITDA 1 -659.2 -215.1 -51.99 -92.92 -43.7 -28.34
EBIT 1 -688.6 -308.2 -112.1 -99.26 -47.17 -30.88
Net income 1 151.3 -1,629 -605.4 -265.3 -177.4 51.31
Net Debt 1 -1,263 800.9 -219.6 5.285 73.21 1.683
Reference price 2 0.3900 0.1110 0.5600 0.2250 0.0840 0.1210
Nbr of stocks (in thousands) 1,103,916 1,103,916 1,040,946 1,040,946 1,040,946 1,040,946
Announcement Date 7/27/21 8/18/22 7/27/23 7/26/24 7/28/25 7/30/26
1HKD in Million2HKD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 9.42M
25.98x9.79x16.85x0.55% 41.16B
8.48x3.22x7.6x3.82% 18.96B
7.73x - - 5.51% 8.75B
12.44x3.12x7.96x4.87% 8.71B
9.12x6.25x10.82x5.26% 8.7B
32.43x9.43x16.88x1.52% 6.5B
18.5x7.41x11.82x4.02% 5.7B
Average 16.38x 6.54x 11.99x 3.65% 12.31B
Weighted average by Cap. 18.30x 7.24x 13.13x 2.68%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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