Stock 71 MIRAMAR HOTEL AND INVESTMENT COMPANY, LIMITED
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Financials Miramar Hotel and Investment Company, Limited

Equities

71

HK0071000456

Real Estate Development & Operations

Market Closed - Hong Kong S.E.
Other stock markets
 04:08:20 2024-04-26 am EDT 		5-day change 1st Jan Change
9.85 HKD -0.51% Intraday chart for Miramar Hotel and Investment Company, Limited +0.10% -7.94%
Mar. 19 Miramar Hotel and Investment Company, Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 11 July 2024 CI
Mar. 19 Miramar Hotel and Investment Company, Limited Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 9,818 10,530 10,848 8,982 8,844 8,416
Enterprise Value (EV) 1 6,397 5,762 5,698 3,961 3,620 3,071
P/E ratio 6.38 x 6.46 x 8.44 x 29.8 x 26.8 x 17.7 x
Yield 3.78% 4% 3.69% 3.85% 3.59% 4.11%
Capitalization / Revenue 3.08 x 3.29 x 3.54 x 6.83 x 7.09 x 6.09 x
EV / Revenue 2.01 x 1.8 x 1.86 x 3.01 x 2.9 x 2.22 x
EV / EBITDA 6.26 x 5.14 x 5.41 x 7.16 x 6.36 x 5.16 x
EV / FCF 10.6 x 7.31 x 6.81 x 39.3 x 8.45 x 6.6 x
FCF Yield 9.43% 13.7% 14.7% 2.55% 11.8% 15.1%
Price to Book 0.58 x 0.55 x 0.55 x 0.45 x 0.44 x 0.42 x
Nbr of stocks (in thousands) 628,578 690,960 690,960 690,960 690,960 690,960
Reference price 2 15.62 15.24 15.70 13.00 12.80 12.18
Announcement Date 4/25/18 4/23/19 4/23/20 4/26/21 4/26/22 4/25/23
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 3,185 3,203 3,062 1,315 1,247 1,382
EBITDA 1 1,022 1,121 1,053 552.9 569.1 594.9
EBIT 1 908.2 1,022 978.5 513.3 538.6 567.9
Operating Margin 28.51% 31.91% 31.96% 39.04% 43.19% 41.08%
Earnings before Tax (EBT) 1 1,686 1,818 1,481 408.3 422.8 580.2
Net income 1 1,519 1,624 1,288 301.9 330 480.1
Net margin 47.7% 50.7% 42.07% 22.96% 26.46% 34.73%
EPS 2 2.450 2.360 1.860 0.4369 0.4775 0.6900
Free Cash Flow 1 603.2 788.4 836.4 100.8 428.2 465
FCF margin 18.94% 24.61% 27.32% 7.67% 34.34% 33.63%
FCF Conversion (EBITDA) 59.03% 70.3% 79.43% 18.24% 75.25% 78.15%
FCF Conversion (Net income) 39.7% 48.54% 64.93% 33.4% 129.79% 96.84%
Dividend per Share 2 0.5900 0.6100 0.5800 0.5000 0.4600 0.5000
Announcement Date 4/25/18 4/23/19 4/23/20 4/26/21 4/26/22 4/25/23
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 3,422 4,769 5,150 5,022 5,224 5,345
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 603 788 836 101 428 465
ROE (net income / shareholders' equity) 9.52% 9.14% 6.82% 1.54% 1.68% 2.43%
ROA (Net income/ Total Assets) 3.18% 3.29% 2.92% 1.51% 1.6% 1.68%
Assets 1 47,781 49,360 44,155 20,015 20,647 28,629
Book Value Per Share 2 27.10 27.50 28.80 28.70 28.80 28.90
Cash Flow per Share 2 5.470 6.820 7.600 7.310 7.600 7.790
Capex - - - - - -
Capex / Sales - - - - - -
Announcement Date 4/25/18 4/23/19 4/23/20 4/26/21 4/26/22 4/25/23
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Real Estate Development & Operations

1st Jan change Capi.
MIRAMAR HOTEL AND INVESTMENT COMPANY, LIMITED Stock Miramar Hotel and Investment Company, Limited
-7.94% 869M
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+1.45% 19.52B
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CK ASSET HOLDINGS LIMITED Stock CK Asset Holdings Limited
-14.80% 14.98B
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