FORTUNE REAL ESTATE INVESTMENT TRUST |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3.83 HKD | +0.26% |
|
+4.36% | -22.78% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 17,612 | 14,446 | 15,780 | 12,602 | 9,963 | 7,721 | - | - |
| Enterprise Value (EV) 1 | 25,955 | 23,028 | 24,563 | 21,972 | 19,515 | 17,077 | 17,067 | 17,045 |
| P/E ratio | 11.9 x | -4.52 x | 12 x | 25 x | -64.2 x | 13.1 x | 12.4 x | 11.4 x |
| Yield | 5.64% | 6.38% | 5.6% | 6.96% | 8.14% | 9.91% | 10.4% | 10.9% |
| Capitalization / Revenue | 8.99 x | 7.83 x | 8.74 x | 7.14 x | 5.58 x | 4.35 x | 4.25 x | 4.16 x |
| EV / Revenue | 13.2 x | 12.5 x | 13.6 x | 12.5 x | 10.9 x | 9.62 x | 9.4 x | 9.19 x |
| EV / EBITDA | 19.5 x | 18.6 x | 20.1 x | 18.8 x | 16.5 x | 14.6 x | 14.3 x | 13.9 x |
| EV / FCF | 21,145,274 x | 24,893,283 x | 23,992,562 x | - | - | - | - | - |
| FCF Yield | 0% | 0% | 0% | - | - | - | - | - |
| Price to Book | 0.54 x | 0.51 x | 0.54 x | 0.44 x | 0.36 x | 0.28 x | 0.27 x | 0.27 x |
| Nbr of stocks (in thousands) | 1,937,542 | 1,954,817 | 1,970,044 | 1,987,625 | 2,008,653 | 2,021,227 | - | - |
| Reference price 2 | 9.090 | 7.390 | 8.010 | 6.340 | 4.960 | 3.820 | 3.820 | 3.820 |
| Announcement Date | 2/4/20 | 2/4/21 | 3/1/22 | 3/2/23 | 3/5/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,960 | 1,844 | 1,806 | 1,764 | 1,786 | 1,776 | 1,816 | 1,856 |
| EBITDA 1 | 1,330 | 1,239 | 1,223 | 1,172 | 1,181 | 1,173 | 1,197 | 1,227 |
| EBIT 1 | 1,330 | 1,239 | 1,223 | 1,172 | 1,181 | 1,143 | 1,169 | 1,199 |
| Operating Margin | 67.85% | 67.22% | 67.7% | 66.41% | 66.14% | 64.36% | 64.4% | 64.64% |
| Earnings before Tax (EBT) 1 | 1,696 | -2,987 | 1,521 | 777.2 | -4.155 | 789.7 | 853.8 | 906.4 |
| Net income 1 | 1,477 | -3,193 | 1,318 | 502.6 | -154.9 | 621 | 689 | - |
| Net margin | 75.36% | -173.17% | 72.94% | 28.49% | -8.67% | 34.97% | 37.95% | - |
| EPS 2 | 0.7633 | -1.637 | 0.6698 | 0.2534 | -0.0773 | 0.2905 | 0.3069 | 0.3355 |
| Free Cash Flow | 1,227 | 925.1 | 1,024 | - | - | - | - | - |
| FCF margin | 62.64% | 50.17% | 56.68% | - | - | - | - | - |
| FCF Conversion (EBITDA) | 92.32% | 74.64% | 83.71% | - | - | - | - | - |
| FCF Conversion (Net income) | 83.12% | - | 77.71% | - | - | - | - | - |
| Dividend per Share 2 | 0.5128 | 0.4716 | 0.4483 | 0.4415 | 0.4038 | 0.3785 | 0.3985 | 0.4172 |
| Announcement Date | 2/4/20 | 2/4/21 | 3/1/22 | 3/2/23 | 3/5/24 | - | - | - |
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 | 2023 S2 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 985.4 | 951.8 | 892 | 904.4 | 902 | 867.5 | 896.9 | 908.7 | 877.2 |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | 616.1 | 606.9 | - | - | - | - |
| Operating Margin | - | - | - | 68.13% | 67.28% | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | 389 | - | 279.1 | - |
| Net margin | - | - | - | - | - | 44.84% | - | 30.72% | - |
| EPS | 0.2343 | -1.165 | -0.4717 | - | - | 0.1966 | - | 0.1397 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/4/20 | 7/24/20 | 2/4/21 | 8/6/21 | 3/1/22 | 8/5/22 | 3/2/23 | 8/8/23 | 3/5/24 |
1HKD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 8,343 | 8,582 | 8,783 | 9,371 | 9,552 | 9,355 | 9,345 | 9,323 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.275 x | 6.924 x | 7.182 x | 7.997 x | 8.086 x | 7.979 x | 7.804 x | 7.601 x |
| Free Cash Flow | 1,227 | 925 | 1,024 | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 2.87% | 2.57% | 4.56% | 1.73% | 2.36% | 2.48% | 2.6% | 2.75% |
| ROA (Net income/ Total Assets) | 2.16% | 1.91% | 3.33% | 1.26% | 1.68% | - | - | - |
| Assets 1 | 68,261 | -166,970 | 39,530 | 40,032 | -9,210 | - | - | - |
| Book Value Per Share 2 | 16.80 | 14.60 | 14.80 | 14.50 | 13.90 | 13.80 | 13.90 | 13.90 |
| Cash Flow per Share 2 | 0.7200 | 0.5000 | 0.5500 | - | - | 0.3900 | 0.4100 | 0.4400 |
| Capex 1 | 157 | 54.9 | 67 | - | - | 113 | 113 | 75 |
| Capex / Sales | 8.03% | 2.98% | 3.71% | - | - | 6.33% | 6.2% | 4.04% |
| Announcement Date | 2/4/20 | 2/4/21 | 3/1/22 | 3/2/23 | 3/5/24 | - | - | - |
1HKD in Million2HKD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
3.82
HKD
Average target price
5.432
HKD
Spread / Average Target
+42.21%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -22.78% | 981M | |
| +1.54% | 46.38B | |
| -11.73% | 12.39B | |
| -22.46% | 11.06B | |
| -11.93% | 10.74B | |
| -5.71% | 7.45B | |
| -4.81% | 6.54B | |
| -8.23% | 5.8B | |
| -6.00% | 5.6B | |
| -5.07% | 4.67B |
- Stock Market
- Equities
- 778 Stock
- Financials Fortune Real Estate Investment Trust
