KERRY LOGISTICS NETWORK LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.5 HKD | -1.96% |
|
+0.54% | -8.76% |
| Mar. 29 | Kerry Logistics Network Appoints CEO | MT |
| Mar. 28 | Kerry Logistics Network Limited Announces Re-Designation of CHEUNG Ping Chuen Vicky as Chief Executive Officer, Effective April 1, 2024 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 19,815 | 22,963 | 30,552 | 34,447 | 25,376 | 13,556 | 13,556 | - |
| Enterprise Value (EV) 1 | 24,774 | 28,875 | 31,326 | 31,507 | 25,165 | 17,105 | 14,340 | 11,571 |
| P/E ratio | 8.13 x | 6.05 x | 10.4 x | 4.34 x | 7.09 x | 18.7 x | 9.33 x | 8.62 x |
| Yield | 3.18% | 4.63% | 2.86% | 3.73% | 4.7% | 2.68% | 3.59% | 3.97% |
| Capitalization / Revenue | 0.52 x | 0.56 x | 0.57 x | 0.42 x | 0.29 x | 0.29 x | 0.26 x | 0.24 x |
| EV / Revenue | 0.65 x | 0.7 x | 0.59 x | 0.39 x | 0.29 x | 0.34 x | 0.27 x | 0.21 x |
| EV / EBITDA | 7.88 x | 6.16 x | 5.69 x | 3.82 x | 3.6 x | 4.95 x | 3.63 x | 2.84 x |
| EV / FCF | -109 x | 19 x | 10.2 x | 7.62 x | 6.67 x | 4.54 x | 3.88 x | 4.93 x |
| FCF Yield | -0.92% | 5.27% | 9.77% | 13.1% | 15% | 22% | 25.8% | 20.3% |
| Price to Book | 0.99 x | 1 x | 1.1 x | 1.63 x | 1.38 x | 0.84 x | 0.72 x | 0.67 x |
| Nbr of stocks (in thousands) | 1,705,263 | 1,716,203 | 1,797,200 | 1,807,310 | 1,807,425 | 1,807,429 | 1,807,429 | - |
| Reference price 2 | 11.62 | 13.38 | 17.00 | 19.06 | 14.04 | 7.500 | 7.500 | 7.500 |
| Announcement Date | 3/28/19 | 3/31/20 | 3/25/21 | 3/30/22 | 3/28/23 | 3/26/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 38,139 | 41,139 | 53,361 | 81,771 | 86,649 | 50,706 | 52,527 | 55,733 |
| EBITDA 1 | 3,144 | 4,686 | 5,507 | 8,245 | 6,999 | 3,459 | 3,946 | 4,074 |
| EBIT 1 | 2,364 | 2,765 | 3,358 | 6,229 | 4,790 | 1,279 | 2,460 | 2,677 |
| Operating Margin | 6.2% | 6.72% | 6.29% | 7.62% | 5.53% | 2.52% | 4.68% | 4.8% |
| Earnings before Tax (EBT) 1 | 3,378 | 4,928 | 4,242 | 5,564 | 5,076 | 889.1 | 2,110 | 2,345 |
| Net income 1 | 2,440 | 3,788 | 2,896 | 7,939 | 3,579 | 791.2 | 1,449 | 1,536 |
| Net margin | 6.4% | 9.21% | 5.43% | 9.71% | 4.13% | 1.56% | 2.76% | 2.76% |
| EPS 2 | 1.430 | 2.210 | 1.630 | 4.390 | 1.980 | 0.4400 | 0.8038 | 0.8701 |
| Free Cash Flow 1 | -226.7 | 1,522 | 3,060 | 4,136 | 3,771 | 2,482 | 3,698 | 2,346 |
| FCF margin | -0.59% | 3.7% | 5.73% | 5.06% | 4.35% | 4.72% | 7.04% | 4.21% |
| FCF Conversion (EBITDA) | - | 32.49% | 55.56% | 50.17% | 53.88% | 74.5% | 93.72% | 57.57% |
| FCF Conversion (Net income) | - | 40.19% | 105.67% | 52.11% | 105.36% | 286.21% | 255.19% | 152.65% |
| Dividend per Share 2 | 0.3700 | 0.6200 | 0.4860 | 0.7110 | 0.6600 | 0.2200 | 0.2690 | 0.2979 |
| Announcement Date | 3/28/19 | 3/31/20 | 3/25/21 | 3/30/22 | 3/28/23 | 3/26/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 19,810 | 21,329 | 21,885 | 31,476 | 36,709 | 45,062 | 48,034 | 38,615 | 25,315 | 25,392 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | - | - | - | 2,536 | 3,693 | 3,461 | 1,329 | 568.2 | 711.2 |
| Operating Margin | - | - | - | - | 6.91% | 8.2% | 7.21% | 3.44% | 2.24% | 2.8% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income | - | 998.6 | - | - | - | 4,558 | - | - | - | - |
| Net margin | - | 4.68% | - | - | - | 10.12% | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/29/19 | 3/31/20 | 8/27/20 | 3/25/21 | 8/27/21 | 3/30/22 | 8/30/22 | 3/28/23 | 9/14/23 | 3/26/24 |
1HKD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 4,958 | 5,912 | 774 | - | - | 2,248 | 784 | - |
| Net Cash position 1 | - | - | - | 2,940 | 212 | 2,288 | - | 1,984 |
| Leverage (Debt/EBITDA) | 1.577 x | 1.262 x | 0.1406 x | - | - | 0.6498 x | 0.1987 x | - |
| Free Cash Flow 1 | -227 | 1,522 | 3,060 | 4,136 | 3,771 | 2,482 | 3,698 | 2,346 |
| ROE (net income / shareholders' equity) | 12.9% | 17.6% | 11.5% | 15.2% | 18.1% | 6.74% | 8.05% | 8.6% |
| ROA (Net income/ Total Assets) | 6.05% | 8.21% | 5.46% | 7.03% | 7.64% | 2.78% | 3.49% | 3.69% |
| Assets 1 | 40,340 | 46,118 | 53,052 | 112,957 | 46,842 | 28,495 | 41,522 | 41,679 |
| Book Value Per Share 2 | 11.80 | 13.40 | 15.50 | 11.70 | 10.20 | 9.740 | 10.40 | 11.20 |
| Cash Flow per Share 2 | 0.9800 | 1.870 | 2.430 | 3.200 | 2.980 | 1.540 | 1.150 | - |
| Capex 1 | 1,889 | 1,681 | 1,266 | 1,637 | 1,613 | 1,208 | 1,359 | 1,207 |
| Capex / Sales | 4.95% | 4.09% | 2.37% | 2% | 1.86% | 2.3% | 2.59% | 2.17% |
| Announcement Date | 3/28/19 | 3/31/20 | 3/25/21 | 3/30/22 | 3/28/23 | 3/26/24 | - | - |
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
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
7.5
HKD
Average target price
10.33
HKD
Spread / Average Target
+37.78%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -8.76% | 1.73B | |
| -12.95% | 30.83B | |
| -1.52% | 6.34B | |
| -3.92% | 5.01B | |
| +1.36% | 4.54B | |
| +4.62% | 4.06B | |
| +4.00% | 3.58B | |
| +63.11% | 2.48B | |
| +0.33% | 2.29B | |
| +1.69% | 2.31B |
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