Financials PAX Global Technology Limited

Equities

327

BMG6955J1036

Office Equipment

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
6.5 HKD +0.15% Intraday chart for PAX Global Technology Limited +2.85% +7.44%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,016 7,519 6,013 7,288 6,472 6,959 - -
Enterprise Value (EV) 1 4,016 7,519 6,013 7,288 6,472 6,959 6,959 6,959
P/E ratio 6.44 x 8.36 x 5.77 x 5.92 x 5.76 x 5.42 x 4.74 x 4.22 x
Yield 2.74% 2.47% 4.89% - 3.8% 8% 9.38% 10.7%
Capitalization / Revenue 0.82 x 1.33 x 0.84 x - 0.96 x 0.93 x 0.84 x 0.75 x
EV / Revenue 0.82 x 1.33 x 0.84 x - 0.96 x 0.93 x 0.84 x 0.75 x
EV / EBITDA - 6.58 x 4.47 x - 4.9 x 4.8 x 4.14 x 3.54 x
EV / FCF - 11.1 x 2,155 x - - 5.76 x 5.79 x 7.38 x
FCF Yield - 8.98% 0.05% - - 17.4% 17.3% 13.6%
Price to Book - 1.34 x 0.94 x - 0.87 x 0.87 x 0.82 x 0.75 x
Nbr of stocks (in thousands) 1,100,194 1,092,837 1,089,303 1,079,695 1,069,810 1,070,594 - -
Reference price 2 3.650 6.880 5.520 6.750 6.050 6.500 6.500 6.500
Announcement Date 3/30/20 3/29/21 3/23/22 3/22/23 3/19/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,926 5,651 7,196 - 6,709 7,482 8,304 9,226
EBITDA 1 - 1,142 1,346 - 1,320 1,449 1,682 1,967
EBIT 1 761.6 1,067 1,278 - 1,254 1,400 1,623 1,883
Operating Margin 15.46% 18.89% 17.76% - 18.7% 18.72% 19.55% 20.41%
Earnings before Tax (EBT) 1 754.7 1,053 1,274 - 1,254 1,463 1,706 1,938
Net income 1 623.9 900.1 1,084 1,265 1,155 1,302 1,490 1,674
Net margin 12.67% 15.93% 15.06% - 17.22% 17.41% 17.94% 18.15%
EPS 2 0.5670 0.8230 0.9570 1.141 1.051 1.200 1.370 1.540
Free Cash Flow 1 - 674.9 2.79 - - 1,208 1,202 943
FCF margin - 11.94% 0.04% - - 16.15% 14.48% 10.22%
FCF Conversion (EBITDA) - 59.08% 0.21% - - 83.4% 71.49% 47.94%
FCF Conversion (Net income) - 74.98% 0.26% - - 92.78% 80.73% 56.32%
Dividend per Share 2 0.1000 0.1700 0.2700 - 0.2300 0.5200 0.6100 0.6950
Announcement Date 3/30/20 3/29/21 3/23/22 3/22/23 3/19/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1
Net sales 2,541 3,110 3,319 3,877 -
EBITDA - - - - -
EBIT 436.6 630.5 592.9 685.1 -
Operating Margin 17.18% 20.28% 17.87% 17.67% -
Earnings before Tax (EBT) - - 590.3 - -
Net income 1 - - 515 - 699.8
Net margin - - 15.52% - -
EPS 2 - - 0.4550 - 0.6310
Dividend per Share - - - - -
Announcement Date 8/13/20 3/29/21 8/12/21 3/23/22 8/11/22
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 675 2.79 - - 1,209 1,203 943
ROE (net income / shareholders' equity) 13.9% 17.4% 17.9% - 16.1% 17% 18.3% 19%
ROA (Net income/ Total Assets) - 12.5% 13.2% - 12.4% 13.8% 14.6% 15.4%
Assets 1 - 7,178 8,229 - 9,283 9,473 10,237 10,873
Book Value Per Share 2 - 5.130 5.890 - 6.970 7.480 7.890 8.690
Cash Flow per Share - - - - - - - -
Capex 1 28 60.2 345 - - 149 131 140
Capex / Sales 0.57% 1.06% 4.79% - - 1.98% 1.58% 1.51%
Announcement Date 3/30/20 3/29/21 3/23/22 3/22/23 3/19/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
6.5 HKD
Average target price
8.995 HKD
Spread / Average Target
+38.38%
Consensus

Annual profits - Rate of surprise

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