Financials The United Laboratories International Holdings Limited

Equities

3933

KYG8813K1085

Pharmaceuticals

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
9.48 HKD -2.97% Intraday chart for The United Laboratories International Holdings Limited -1.15% +35.24%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 6,821 9,314 10,122 7,977 8,903 17,225 17,225 -
Enterprise Value (EV) 1 8,968 11,316 9,191 6,144 6,293 9,744 10,151 9,912
P/E ratio 11.1 x 13.3 x 11.7 x 6.61 x 4.94 x 4.35 x 5.86 x 6.12 x
Yield 1.68% 1.35% 1.72% 3.38% 4.42% 6.18% 3.77% 3.94%
Capitalization / Revenue 0.78 x 1.02 x 0.98 x 0.67 x 0.69 x 0.86 x 1.09 x 1 x
EV / Revenue 1.03 x 1.23 x 0.89 x 0.52 x 0.49 x 0.65 x 0.64 x 0.58 x
EV / EBITDA 4.3 x 5.76 x 4.63 x 2.66 x 2.09 x 2.26 x 2.34 x 2.41 x
EV / FCF 10,973,467 x 8,007,682 x 7,437,185 x 4,944,935 x 4,437,388 x - - -
FCF Yield 0% 0% 0% 0% 0% - - -
Price to Book 0.95 x 1.28 x 0.95 x 0.7 x 0.74 x 1.28 x 1.07 x 0.92 x
Nbr of stocks (in thousands) 1,639,721 1,639,721 1,840,391 1,829,491 1,817,027 1,817,027 1,817,027 -
Reference price 2 4.160 5.680 5.500 4.360 4.900 9.480 9.480 9.480
Announcement Date 3/28/19 3/30/20 3/30/21 3/23/22 3/21/23 3/27/24 - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 8,749 9,167 10,378 11,915 12,930 14,892 15,825 17,149
EBITDA 1 2,083 1,964 1,985 2,313 3,013 4,310 4,333 4,119
EBIT 1 1,062 1,244 1,691 1,891 2,180 3,465 3,459 3,309
Operating Margin 12.14% 13.57% 16.3% 15.87% 16.86% 23.26% 21.85% 19.3%
Earnings before Tax (EBT) 1 924.8 919.3 1,044 1,477 2,289 3,625 3,644 3,492
Net income 1 795.6 701 831.6 1,213 1,804 2,928 2,942 2,816
Net margin 9.09% 7.65% 8.01% 10.18% 13.95% 19.66% 18.59% 16.42%
EPS 2 0.3759 0.4275 0.4710 0.6594 0.9912 1.611 1.619 1.549
Free Cash Flow 817.3 1,413 1,236 1,242 1,418 - - -
FCF margin 9.34% 15.42% 11.91% 10.43% 10.97% - - -
FCF Conversion (EBITDA) 39.23% 71.95% 62.25% 53.71% 47.08% - - -
FCF Conversion (Net income) 102.73% 201.59% 148.6% 102.4% 78.63% - - -
Dividend per Share 2 0.0699 0.0765 0.0946 0.1474 0.2168 0.4330 0.3570 0.3735
Announcement Date 3/28/19 3/30/20 3/30/21 3/23/22 3/21/23 3/27/24 - -
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 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 4,522 4,700 4,826 5,286 5,669 6,120 5,950 7,018 7,442 7,407 7,186 7,452 7,185 7,457
EBITDA - - - - - - - - - - - - - -
EBIT 1 - - - - 954.2 824.6 906.5 1,279 1,693 1,761 1,577 1,545 1,425 1,154
Operating Margin - - - - 16.83% 13.47% 15.24% 18.23% 22.75% 23.78% 21.94% 20.73% 19.83% 15.48%
Earnings before Tax (EBT) - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - -
EPS 2 0.1996 0.2304 0.1342 0.3294 0.4068 0.2436 0.3967 0.5971 0.7617 0.8452 0.7250 0.7140 0.6920 0.5300
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 8/25/19 3/30/20 8/25/20 3/30/21 8/26/21 3/23/22 8/23/22 3/21/23 8/29/23 3/27/24 - - - -
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 2,147 2,003 - - - - - -
Net Cash position 1 - - 931 1,833 2,610 2,993 7,075 7,314
Leverage (Debt/EBITDA) 1.031 x 1.02 x - - - - - -
Free Cash Flow 817 1,413 1,236 1,242 1,418 - - -
ROE (net income / shareholders' equity) 11.8% 10% 9.2% 11% 15.9% 23.1% 20.6% 17.2%
ROA (Net income/ Total Assets) 4.76% 4.24% 4.59% 6.31% 8.96% 13.5% 12.8% 11.4%
Assets 1 16,725 16,549 18,138 19,214 20,141 21,676 23,048 24,814
Book Value Per Share 2 4.370 4.440 5.770 6.230 6.650 7.410 8.880 10.30
Cash Flow per Share 2 0.7700 1.150 1.060 0.9900 1.270 1.820 1.670 2.430
Capex 1 596 471 637 571 884 764 1,051 1,139
Capex / Sales 6.81% 5.13% 6.13% 4.79% 6.84% 5.15% 6.64% 6.64%
Announcement Date 3/28/19 3/30/20 3/30/21 3/23/22 3/21/23 3/27/24 - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
9.48 HKD
Average target price
12.12 HKD
Spread / Average Target
+27.85%
Consensus
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