Stock 710 BOE VARITRONIX LIMITED
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Financials BOE Varitronix Limited

Equities

710

BMG1223L1054

Electronic Equipment & Parts

Market Closed - Hong Kong S.E.
Other stock markets
 01:38:10 26/06/2024 pm IST 		5-day change 1st Jan Change
4.77 HKD +0.63% Intraday chart for BOE Varitronix Limited -4.79% -32.44%
22/03 BOE Varitronix's 2023 Attributable Profit Falls, Misses Estimates MT
21/03 BOE Varitronix Limited Proposes Final Dividend for the Financial Year Ended 31 December 2023, Payable on 19 July 2024 CI

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,095 7,376 11,745 5,589 3,752 - -
Enterprise Value (EV) 1 2,095 7,376 8,930 2,674 597.2 79.64 -1,740
P/E ratio 30.6 x 22.4 x 19.1 x 11.7 x 6.84 x 5.6 x 4.57 x
Yield - 1.5% 1.55% 2.69% 4.58% 5.63% 7.01%
Capitalization / Revenue - 0.95 x 1.1 x 0.52 x 0.32 x 0.28 x 0.25 x
EV / Revenue - 0.95 x 0.83 x 0.25 x 0.05 x 0.01 x -0.11 x
EV / EBITDA - 14.4 x 10.6 x 3.47 x 0.73 x 0.08 x -1.57 x
EV / FCF - 17.6 x -22 x - 0.89 x 0.1 x -1.67 x
FCF Yield - 5.67% -4.55% - 112% 1,045% -60%
Price to Book - 2.4 x 2.71 x 1.28 x 0.8 x 0.72 x 0.65 x
Nbr of stocks (in thousands) 7,35,175 7,36,155 7,91,410 7,91,575 7,91,575 - -
Reference price 2 2.850 10.02 14.84 7.060 4.770 4.770 4.770
Announcement Date 28/04/21 24/03/22 21/03/23 21/03/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 7,738 10,722 10,760 11,732 13,369 15,200
EBITDA 1 - 513 841 771 822.1 982 1,111
EBIT 1 - 350.1 670.5 569.7 595.8 741.2 875.5
Operating Margin - 4.52% 6.25% 5.29% 5.08% 5.54% 5.76%
Earnings before Tax (EBT) 1 - 348.7 657.6 540 629.6 768.4 941.1
Net income 1 68.64 327.8 582.5 475.3 550 671.7 822.8
Net margin - 4.24% 5.43% 4.42% 4.69% 5.02% 5.41%
EPS 2 0.0930 0.4480 0.7780 0.6020 0.6976 0.8522 1.043
Free Cash Flow 1 - 418 -406.7 - 669 832 1,044
FCF margin - 5.4% -3.79% - 5.7% 6.22% 6.87%
FCF Conversion (EBITDA) - 81.48% - - 81.38% 84.72% 93.97%
FCF Conversion (Net income) - 127.52% - - 121.64% 123.87% 126.88%
Dividend per Share 2 - 0.1500 0.2300 0.1900 0.2183 0.2687 0.3346
Announcement Date 28/04/21 24/03/22 21/03/23 21/03/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 - 5,892 - 5,550 5,517 6,182
EBITDA - - - - - -
EBIT 1 - 395.4 - 328.9 314 352
Operating Margin - 6.71% - 5.93% 5.69% 5.69%
Earnings before Tax (EBT) - - - 319.3 - -
Net income 1 250.9 331.6 202.5 272.7 270 303
Net margin - 5.63% - 4.91% 4.89% 4.9%
EPS 0.3420 - 0.2570 0.3450 - -
Dividend per Share - - - - - -
Announcement Date 15/08/22 21/03/23 22/08/23 21/03/24 - -
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - - 2,814 2,915 3,155 3,672 5,492
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - 418 -407 - 669 832 1,044
ROE (net income / shareholders' equity) - 11.4% 16.4% 11.3% 12% 13.6% 14.6%
ROA (Net income/ Total Assets) - - 8.43% 5.19% 4.93% 5.52% 6.14%
Assets 1 - - 6,913 9,158 11,167 12,162 13,395
Book Value Per Share 2 - 4.170 5.470 5.540 6.000 6.630 7.390
Cash Flow per Share 2 - 0.9100 1.030 - 1.050 1.660 1.360
Capex 1 - 247 1,181 - 389 375 392
Capex / Sales - 3.19% 11.01% - 3.32% 2.8% 2.58%
Announcement Date 28/04/21 24/03/22 21/03/23 21/03/24 - - -
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

Ratings for BOE Varitronix Limited

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
4.77 HKD
Average target price
8.341 HKD
Spread / Average Target
+74.87%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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