TIAN CHANG GROUP HOLDINGS LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.46 HKD | 0.00% |
|
0.00% | -9.80% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 229.4 | 372 | 213.9 | 266.6 | 241.8 | 316.2 |
| Enterprise Value (EV) 1 | 405.5 | 499.6 | 380.8 | 425.5 | 260.9 | 252 |
| P/E ratio | 2.89 x | 2.92 x | 2.9 x | 2.79 x | 2.3 x | 13.6 x |
| Yield | 8.11% | 5% | 4.35% | 4.65% | 5.13% | 2.94% |
| Capitalization / Revenue | 0.24 x | 0.3 x | 0.27 x | 0.24 x | 0.21 x | 0.45 x |
| EV / Revenue | 0.42 x | 0.4 x | 0.48 x | 0.38 x | 0.23 x | 0.36 x |
| EV / EBITDA | 2.78 x | 2.58 x | 3.05 x | 2.64 x | 1.57 x | 3.93 x |
| EV / FCF | 17.2 x | 4.96 x | -8.21 x | -65.1 x | 1.92 x | 3.12 x |
| FCF Yield | 5.81% | 20.2% | -12.2% | -1.54% | 52.1% | 32% |
| Price to Book | 0.51 x | 0.69 x | 0.34 x | 0.35 x | 0.31 x | 0.4 x |
| Nbr of stocks (in thousands) | 620,000 | 620,000 | 620,000 | 620,000 | 620,000 | 620,000 |
| Reference price 2 | 0.3700 | 0.6000 | 0.3450 | 0.4300 | 0.3900 | 0.5100 |
| Announcement Date | 4/25/19 | 4/24/20 | 4/27/21 | 4/26/22 | 4/25/23 | 4/26/24 |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 959.9 | 1,251 | 787.4 | 1,118 | 1,144 | 697.5 |
| EBITDA 1 | 146.1 | 193.3 | 124.8 | 161 | 166 | 64.14 |
| EBIT 1 | 117.6 | 166.4 | 87.94 | 119.8 | 123.8 | 17.1 |
| Operating Margin | 12.25% | 13.3% | 11.17% | 10.72% | 10.82% | 2.45% |
| Earnings before Tax (EBT) 1 | 104.3 | 164.4 | 87.53 | 112.4 | 116.8 | 25.92 |
| Net income 1 | 75.76 | 127.2 | 73.71 | 96.26 | 105.9 | 23.46 |
| Net margin | 7.89% | 10.17% | 9.36% | 8.61% | 9.26% | 3.36% |
| EPS 2 | 0.1280 | 0.2052 | 0.1188 | 0.1539 | 0.1699 | 0.0375 |
| Free Cash Flow 1 | 23.57 | 100.7 | -46.37 | -6.533 | 135.9 | 80.65 |
| FCF margin | 2.45% | 8.05% | -5.89% | -0.58% | 11.88% | 11.56% |
| FCF Conversion (EBITDA) | 16.13% | 52.09% | - | - | 81.87% | 125.73% |
| FCF Conversion (Net income) | 31.11% | 79.16% | - | - | 128.27% | 343.81% |
| Dividend per Share 2 | 0.0300 | 0.0300 | 0.0150 | 0.0200 | 0.0200 | 0.0150 |
| Announcement Date | 4/25/19 | 4/24/20 | 4/27/21 | 4/26/22 | 4/25/23 | 4/26/24 |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 176 | 128 | 167 | 159 | 19.1 | - |
| Net Cash position 1 | - | - | - | - | - | 64.2 |
| Leverage (Debt/EBITDA) | 1.205 x | 0.6603 x | 1.337 x | 0.9867 x | 0.1153 x | - |
| Free Cash Flow 1 | 23.6 | 101 | -46.4 | -6.53 | 136 | 80.6 |
| ROE (net income / shareholders' equity) | 20.6% | 25.7% | 12.5% | 13.8% | 13.8% | 3% |
| ROA (Net income/ Total Assets) | 9.04% | 10.7% | 5.14% | 5.97% | 6.06% | 0.98% |
| Assets 1 | 838.4 | 1,189 | 1,433 | 1,614 | 1,747 | 2,391 |
| Book Value Per Share 2 | 0.7300 | 0.8700 | 1.030 | 1.220 | 1.260 | 1.260 |
| Cash Flow per Share 2 | 0.1000 | 0.1400 | 0.1900 | 0.1800 | 0.2100 | 0.2100 |
| Capex 1 | 47.3 | 98 | 99.2 | 62.5 | 4.96 | 5.22 |
| Capex / Sales | 4.93% | 7.83% | 12.6% | 5.59% | 0.43% | 0.75% |
| Announcement Date | 4/25/19 | 4/24/20 | 4/27/21 | 4/26/22 | 4/25/23 | 4/26/24 |
1HKD in Million2HKD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -9.80% | 36.55M | |
| +7.02% | 156B | |
| +8.91% | 21.55B | |
| +23.85% | 5.89B | |
| +89.40% | 2.25B | |
| -4.23% | 1.8B | |
| -1.24% | 1.75B | |
| -19.30% | 1.34B | |
| 0.00% | 654M | |
| +28.19% | 595M |
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- Financials Tian Chang Group Holdings Ltd.
