Company Valuation: Horizon Robotics

Data adjusted to current consolidation scope
Fiscal Period: December 2024 2025 2026 2027 2028
Market Cap 1 44,655 114,022 52,922 - -
Change - 155.34% -53.59% - -
Enterprise Value (EV) 1 29,657 94,362 35,180 37,428 37,409
Change - 218.18% -62.72% 6.39% -0.05%
P/E 6.63x -9.61x 189x -23.4x 4,035x
PBR 3.81x 7.96x 3.8x 3.94x 3.86x
PEG - 0x -2x 0x -40x
Capitalization / Revenue 18.7x 30.3x 10.1x 6.34x 4.1x
EV / Revenue 12.4x 25.1x 6.69x 4.48x 2.9x
EV / EBITDA -17.4x -32.6x -15.1x -28.3x 24.5x
EV / EBIT -13.8x -28.3x -10.7x -20.2x 81.6x
EV / FCF -33.2x -33.6x 33.6x -21.5x 130x
FCF Yield -3.02% -2.98% 2.98% -4.65% 0.77%
Dividend per Share 2 - - - - 0.00548
Rate of return - - - - 0.15%
EPS 2 0.51 -0.81 0.0192 -0.1552 0.0009
Distribution rate - - - - 609%
Net sales 1 2,384 3,758 5,256 8,347 12,916
EBITDA 1 -1,706 -2,897 -2,324 -1,325 1,528
EBIT 1 -2,144 -3,339 -3,301 -1,853 458.5
Net income 1 2,347 -10,469 58.44 -2,290 190.3
Net Debt 1 -14,999 -19,660 -17,742 -15,495 -15,514
Reference price 2 3.383 7.782 3.632 3.632 3.632
Nbr of stocks (in thousands) 13,200,294 14,651,885 14,571,723 - -
Announcement Date 3/21/25 3/19/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
189.26x6.69x-15.14x-.--% 7.9B
14.69x - - 2.06% 4.36B
12.76x - - 3.31% 4.21B
-16.54x0.12x1.33x0.74% 4.06B
16.71x1.57x10.61x1.15% 3.86B
14.31x1.02x6.15x2.8% 3.76B
13.89x0.51x5.15x-.--% 2.5B
9.86x0.19x1.78x4.03% 1.55B
Average 31.87x 1.68x 1.65x 1.76% 4.02B
Weighted average by Cap. 53.25x 2.74x -1.46x 1.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

-40%: Exceptional extension
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