Financials K. Wah International Holdings Limited OTC Markets

Equities

Market Closed - OTC Markets Other stock markets 01:26:51 16/02/2024 am IST			5-day change	1st Jan Change
0.2175 ^USD	-22.13%		-.--%	-22.32%

26/06	K. Wah International Holdings Limited Approves Final Dividend for the Year Ended 31 December 2023, Payable on July 24, 2024	CI
29/03	K. Wah International 2023 Profit, Revenue Down	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	13,595	11,664	9,422	8,490	6,109	5,451	-
Enterprise Value (EV) ¹	28,592	29,032	20,269	14,769	13,795	13,298	11,586
P/E ratio	4.32 x	3.57 x	2.81 x	6.19 x	7.62 x	6 x	5.61 x
Yield	4.6%	5.63%	6.98%	7.75%	8.21%	9.2%	9.2%
Capitalization / Revenue	1.28 x	0.99 x	0.58 x	0.97 x	1 x	0.84 x	0.79 x
EV / Revenue	2.68 x	2.47 x	1.25 x	1.68 x	2.26 x	2.04 x	1.68 x
EV / EBITDA	5.58 x	5.28 x	4.11 x	6.94 x	9.58 x	10.9 x	6.91 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	31,25,175	31,26,975	31,30,235	31,32,895	31,32,895	31,32,895	-
Reference price ²	4.350	3.730	3.010	2.710	1.950	1.740	1.740
Announcement Date	24/03/20	23/03/21	22/03/22	22/03/23	28/03/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	10,652	11,732	16,218	8,794	6,103	6,508	6,914
EBITDA ¹	5,126	5,498	4,935	2,128	1,440	1,218	1,677
EBIT ¹	5,096	5,468	4,412	2,273	1,410	1,182	1,640
Operating Margin	47.84%	46.6%	27.21%	25.85%	23.1%	18.16%	23.72%
Earnings before Tax (EBT) ¹	5,299	4,860	5,090	2,068	1,489	1,161	1,660
Net income ¹	3,150	3,268	3,355	1,372	802.2	915	956
Net margin	29.57%	27.86%	20.69%	15.61%	13.14%	14.06%	13.83%
EPS ²	1.007	1.045	1.072	0.4381	0.2560	0.2900	0.3100
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	0.2000	0.2100	0.2100	0.2100	0.1600	0.1600	0.1600
Announcement Date	24/03/20	23/03/21	22/03/22	22/03/23	28/03/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	14,998	17,368	10,847	6,279	7,686	7,847	6,135
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.926 x	3.159 x	2.198 x	2.951 x	5.338 x	6.443 x	3.658 x
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	8.47%	7.93%	7.67%	3.13%	1.86%	2.2%	2.2%
ROA (Net income/ Total Assets)	4.37%	4.18%	-	1.77%	1.08%	1.2%	1.3%
Assets ¹	72,083	78,157	-	77,580	74,571	76,250	73,538
Book Value Per Share	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	4.54	42.1	6.35	4.76	370	-	-
Capex / Sales	0.04%	0.36%	0.04%	0.05%	6.06%	-	-
Announcement Date	24/03/20	23/03/21	22/03/22	22/03/23	28/03/24	-	-

¹HKD in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.74 HKD

Average target price

2.76 HKD

Spread / Average Target

+58.62%

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