Financials Wang On Properties Limited

Equities

1243

BMG9430P1086

Real Estate Development & Operations

Market Closed - Hong Kong S.E. 04:08:06 2024-04-30 am EDT 5-day change 1st Jan Change
0.046 HKD +4.55% Intraday chart for Wang On Properties Limited +12.20% +4.55%

Valuation

Fiscal Period: März 2018 2019 2020 2021 2022 2023
Capitalization 1 18,088 19,304 13,072 1,520 1,064 896.8
Enterprise Value (EV) 1 18,354 21,463 15,803 5,398 4,670 4,229
P/E ratio 10 x 38.6 x 28.6 x 3.26 x 3.73 x 4.25 x
Yield 0.55% 0.55% 0.84% 7.4% 10.7% 11.7%
Capitalization / Revenue 13.4 x 6.82 x 5.51 x 4.83 x 27.4 x 0.45 x
EV / Revenue 13.6 x 7.58 x 6.66 x 17.1 x 120 x 2.12 x
EV / EBITDA 56.5 x 21.6 x 21.8 x -67.7 x -40.3 x -100 x
EV / FCF -18.1 x 32.7 x 38.2 x -3.55 x 230 x 3.43 x
FCF Yield -5.52% 3.06% 2.61% -28.2% 0.44% 29.2%
Price to Book 4.46 x 4.33 x 2.8 x 0.3 x 0.21 x 0.17 x
Nbr of stocks (in thousands) 15,200,000 15,200,000 15,200,000 15,200,000 15,200,000 15,200,000
Reference price 2 1.190 1.270 0.8600 0.1000 0.0700 0.0590
Announcement Date 7/26/18 7/30/19 7/22/20 7/26/21 7/22/22 7/27/23
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2018 2019 2020 2021 2022 2023
Net sales 1 1,352 2,832 2,372 314.8 38.86 1,992
EBITDA 1 325 995.4 724.2 -79.74 -115.9 -42.3
EBIT 1 324.1 991.3 717.7 -89.49 -124.8 -43.87
Operating Margin 23.97% 35.01% 30.26% -28.43% -321.17% -2.2%
Earnings before Tax (EBT) 1 2,005 1,001 617.2 477 277.8 217.9
Net income 1 1,808 500.3 457.3 466.7 285.1 211.1
Net margin 133.78% 17.67% 19.28% 148.26% 733.66% 10.6%
EPS 2 0.1190 0.0329 0.0301 0.0307 0.0188 0.0139
Free Cash Flow 1 -1,013 656.2 413.2 -1,521 20.33 1,234
FCF margin -74.91% 23.17% 17.42% -483.08% 52.32% 61.96%
FCF Conversion (EBITDA) - 65.92% 57.05% - - -
FCF Conversion (Net income) - 131.16% 90.35% - 7.13% 584.68%
Dividend per Share 2 0.006500 0.007000 0.007200 0.007400 0.007500 0.006900
Announcement Date 7/26/18 7/30/19 7/22/20 7/26/21 7/22/22 7/27/23
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: März 2018 2019 2020 2021 2022 2023
Net Debt 1 266 2,159 2,731 3,878 3,606 3,332
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.8181 x 2.169 x 3.772 x -48.63 x -31.13 x -78.77 x
Free Cash Flow 1 -1,013 656 413 -1,521 20.3 1,234
ROE (net income / shareholders' equity) 59.1% 19.1% 10.3% 9.6% 5.58% 4.03%
ROA (Net income/ Total Assets) 2.23% 5.84% 4.53% -0.59% -0.75% -0.27%
Assets 1 81,137 8,567 10,097 -79,042 -38,031 -78,347
Book Value Per Share 2 0.2700 0.2900 0.3100 0.3300 0.3400 0.3500
Cash Flow per Share 2 0.1000 0.1200 0.0600 0.0500 0.0500 0.0600
Capex 1 0.8 5.54 23.5 0.39 1.37 1.38
Capex / Sales 0.06% 0.2% 0.99% 0.12% 3.53% 0.07%
Announcement Date 7/26/18 7/30/19 7/22/20 7/26/21 7/22/22 7/27/23
1HKD in Million2HKD
Estimates
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