Company Valuation: Kunlun Tech Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 22,945 27,171 17,036 45,441 47,388 42,306 - -
Change - 18.42% -37.3% 166.73% 4.28% -10.73% - -
Enterprise Value (EV) 1 22,205 27,171 16,715 44,943 46,561 39,477 39,325 39,249
Change - 22.36% -38.48% 168.88% 3.6% -15.22% -0.38% -0.19%
P/E ratio 4.87x 15.4x 14.9x 36.7x -29.6x -72.7x -4,026x 145x
PBR 2.48x 2.68x 1.35x 2.99x 3.32x 3.06x 3.05x 2.98x
PEG - -0.2x -0.4x 7.12x 0x 1.1x 41x -0x
Capitalization / Revenue 8.29x 5.6x 3.6x 9.24x 8.37x 6.52x 5.94x 5.53x
EV / Revenue 8.02x 5.6x 3.53x 9.14x 8.22x 6.08x 5.52x 5.13x
EV / EBITDA 4.39x 16.2x 11.3x 22.2x -27.7x -85.9x 403x 98.5x
EV / EBIT 4.6x 14.5x 11.9x 23.3x -25.6x -80.4x 400x 150x
EV / FCF - - - 92.1x - -745x 225x 150x
FCF Yield - - - 1.09% - -0.13% 0.45% 0.66%
Dividend per Share 2 0.174 0.066 - 0.05 - 0.0133 0.0181 -
Rate of return 0.87% 0.29% - 0.13% - 0.04% 0.05% -
EPS 2 4.1 1.5 0.97 1.02 -1.3 -0.4637 -0.00837 0.2323
Distribution rate 4.24% 4.4% - 4.9% - -2.87% -216% -
Net sales 1 2,769 4,850 4,736 4,915 5,662 6,492 7,128 7,645
EBITDA 1 5,058 1,675 1,480 2,025 -1,683 -459.5 97.55 398.4
EBIT 1 4,823 1,875 1,401 1,928 -1,816 -490.8 98.35 261.8
Net income 1 4,775 1,766 1,153 1,258 -1,595 -571.1 -8.36 290.5
Net Debt 1 -740.4 - -321.2 -498.8 -826.5 -2,829 -2,980 -3,057
Reference price 2 19.95 23.15 14.41 37.40 38.48 33.70 33.70 33.70
Nbr of stocks (in thousands) 1,150,142 1,173,688 1,182,250 1,215,007 1,231,495 1,255,357 - -
Announcement Date 2/26/21 2/28/22 2/28/23 4/23/24 4/26/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-71.23x5.95x-84.08x0.04% 5.78B
20.33x5.55x12.89x0.97% 583B
49.89x12.36x39.75x-.--% 543B
34.11x3.98x23.32x-.--% 204B
71.72x6.69x49.51x-.--% 148B
13.18x17.88x183.17x0.31% 125B
112.14x7.38x35.08x-.--% 102B
32.43x6.23x17.88x-.--% 84.55B
8.6x5.06x69.98x0.41% 48.01B
512.66x10.22x83.56x-.--% 34.94B
Average 78.38x 8.13x 43.11x 0.17% 187.82B
Weighted average by Cap. 48.06x 8.47x 39.94x 0.33%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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