Financials Comba Telecom Systems Holdings Limited

Equities

2342

KYG229721140

Communications & Networking

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
0.54 HKD +8.00% Intraday chart for Comba Telecom Systems Holdings Limited +13.68% -34.15%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,100 5,358 6,179 4,972 3,703 2,254
Enterprise Value (EV) 1 3,026 5,237 5,944 4,760 3,595 1,617
P/E ratio -18.2 x 35.5 x -30.7 x -8.4 x 19.6 x 342 x
Yield - 1.01% 0.31% - 1.57% 1.46%
Capitalization / Revenue 0.55 x 0.93 x 1.22 x 0.85 x 0.58 x 0.38 x
EV / Revenue 0.53 x 0.91 x 1.18 x 0.81 x 0.56 x 0.27 x
EV / EBITDA 34.4 x 21.8 x -38.1 x -8.58 x 11.3 x 11.8 x
EV / FCF 3.89 x 19.3 x -9.28 x 25.6 x -160 x 4.12 x
FCF Yield 25.7% 5.18% -10.8% 3.9% -0.63% 24.3%
Price to Book 0.95 x 1.55 x 1.5 x 1.32 x 0.99 x 0.63 x
Nbr of stocks (in thousands) 2,402,838 2,469,352 2,733,957 2,762,274 2,763,552 2,749,116
Reference price 2 1.290 2.170 2.260 1.800 1.340 0.8200
Announcement Date 4/24/19 4/27/20 4/27/21 4/26/22 4/25/23 4/24/24
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 5,663 5,780 5,057 5,870 6,365 5,982
EBITDA 1 88.07 240 -156.1 -555 318.1 137.3
EBIT 1 -102.9 58.62 -383.3 -792 118.8 -39.09
Operating Margin -1.82% 1.01% -7.58% -13.49% 1.87% -0.65%
Earnings before Tax (EBT) 1 -150.9 130.7 -268.1 -656.5 297.1 54.66
Net income 1 -171.4 151.7 -194.1 -592.6 190.2 6.696
Net margin -3.03% 2.63% -3.84% -10.1% 2.99% 0.11%
EPS 2 -0.0707 0.0612 -0.0736 -0.2143 0.0684 0.002400
Free Cash Flow 1 777.1 271.1 -640.6 185.8 -22.53 392.8
FCF margin 13.72% 4.69% -12.67% 3.17% -0.35% 6.57%
FCF Conversion (EBITDA) 882.31% 112.94% - - - 286.16%
FCF Conversion (Net income) - 178.63% - - - 5,866.82%
Dividend per Share - 0.0220 0.007000 - 0.0210 0.0120
Announcement Date 4/24/19 4/27/20 4/27/21 4/26/22 4/25/23 4/24/24
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1
Net sales 1 3,029 2,238 2,819 2,418 3,452 3,043 3,322 3,228
EBITDA - - - - - - - -
EBIT 1 - - - -67.63 -672.5 103.7 94.81 22.2
Operating Margin - - - -2.8% -19.48% 3.41% 2.85% 0.69%
Earnings before Tax (EBT) - - - - - - - -
Net income - - - - - - - -
Net margin - - - - - - - -
EPS - - - - - - - -
Dividend per Share - - - - - - - -
Announcement Date 3/19/20 8/20/20 3/25/21 8/26/21 3/24/22 8/25/22 3/23/23 9/15/23
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 73.2 122 234 212 109 637
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 777 271 -641 186 -22.5 393
ROE (net income / shareholders' equity) -4.9% 1.79% -6.89% -15.4% 3.52% 0.4%
ROA (Net income/ Total Assets) -0.58% 0.33% -2.13% -4.34% 0.67% -0.24%
Assets 1 29,564 46,563 9,118 13,669 28,288 -2,740
Book Value Per Share 2 1.360 1.400 1.500 1.370 1.350 1.300
Cash Flow per Share 2 0.7900 0.7600 0.6300 0.6000 0.5500 0.4300
Capex 1 251 398 266 235 146 90.4
Capex / Sales 4.43% 6.88% 5.25% 4% 2.29% 1.51%
Announcement Date 4/24/19 4/27/20 4/27/21 4/26/22 4/25/23 4/24/24
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly revenue - Rate of surprise

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