Financials Wah Sun Handbags International Holdings Limited

Equities

2683

KYG9420H1083

Apparel & Accessories

Market Closed - Hong Kong S.E. 04:08:20 2024-05-14 am EDT 5-day change 1st Jan Change
0.44 HKD +2.33% Intraday chart for Wah Sun Handbags International Holdings Limited +4.76% +25.71%

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 445.4 228.8 94.39 110.3 157.3 134.8
Enterprise Value (EV) 1 356.7 152.3 38.94 22.89 62.15 54.15
P/E ratio 7.65 x 5.63 x 8.51 x 19.8 x 3.98 x 15.9 x
Yield 0.92% 7.14% 4.33% 1.85% 9.09% 3.03%
Capitalization / Revenue 0.64 x 0.3 x 0.12 x 0.27 x 0.25 x 0.3 x
EV / Revenue 0.51 x 0.2 x 0.05 x 0.06 x 0.1 x 0.12 x
EV / EBITDA 4.01 x 3.13 x 1.83 x 1.05 x 0.97 x 3.82 x
EV / FCF -18.8 x -6.6 x 2.08 x 0.56 x 3.14 x 9.67 x
FCF Yield -5.32% -15.1% 48% 178% 31.8% 10.3%
Price to Book 2.14 x 0.94 x 0.4 x 0.47 x 0.61 x 0.55 x
Nbr of stocks (in thousands) 408,626 408,626 408,626 408,626 408,626 408,626
Reference price 2 1.090 0.5600 0.2310 0.2700 0.3850 0.3300
Announcement Date 7/30/18 7/8/19 7/8/20 7/7/21 7/6/22 7/5/23
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 697.5 759.5 756.2 403.8 617.6 446.5
EBITDA 1 89 48.62 21.23 21.74 63.8 14.17
EBIT 1 80.77 40.82 12.19 14.81 56.93 6.371
Operating Margin 11.58% 5.37% 1.61% 3.67% 9.22% 1.43%
Earnings before Tax (EBT) 1 55.86 44.99 14.76 9.211 52.34 9.694
Net income 1 45.58 40.67 11.09 5.562 39.54 8.495
Net margin 6.53% 5.36% 1.47% 1.38% 6.4% 1.9%
EPS 2 0.1424 0.0995 0.0271 0.0136 0.0968 0.0208
Free Cash Flow 1 -18.97 -23.07 18.68 40.85 19.76 5.599
FCF margin -2.72% -3.04% 2.47% 10.11% 3.2% 1.25%
FCF Conversion (EBITDA) - - 88% 187.87% 30.97% 39.51%
FCF Conversion (Net income) - - 168.52% 734.41% 49.97% 65.91%
Dividend per Share 2 0.0100 0.0400 0.0100 0.005000 0.0350 0.0100
Announcement Date 7/30/18 7/8/19 7/8/20 7/7/21 7/6/22 7/5/23
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 88.7 76.5 55.5 87.4 95.2 80.7
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -19 -23.1 18.7 40.8 19.8 5.6
ROE (net income / shareholders' equity) 32.9% 18% 4.6% 2.35% 15.9% 2.39%
ROA (Net income/ Total Assets) 14.2% 5.61% 1.71% 2.39% 8.99% 1%
Assets 1 321.1 725 646.6 233.1 439.6 852.7
Book Value Per Share 2 0.5100 0.6000 0.5800 0.5800 0.6300 0.6000
Cash Flow per Share 2 0.2700 0.2300 0.2100 0.2700 0.2900 0.2500
Capex 1 11.8 18.9 4.34 1.13 12.2 7.24
Capex / Sales 1.69% 2.48% 0.57% 0.28% 1.97% 1.62%
Announcement Date 7/30/18 7/8/19 7/8/20 7/7/21 7/6/22 7/5/23
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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