Company Valuation: Kaisa Prosperity Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 2,628 2,477 1,504 557.5 145.5 218.7
Change - -5.76% -39.27% -62.93% -73.91% 50.31%
Enterprise Value (EV) 1 1,878 1,247 1,172 335.3 -129.2 -20.4
Change - -33.59% -6.09% -71.38% -138.55% 84.22%
P/E 16x 10.9x 27.1x 5.97x -0.32x 15.8x
PBR 3.96x 1.98x 1.22x 0.42x 0.17x 0.25x
PEG - 0.4x -0.4x 0.1x 0x -0x
Capitalization / Revenue 2.08x 1.43x 0.56x 0.31x 0.08x 0.13x
EV / Revenue 1.49x 0.72x 0.44x 0.19x -0.07x -0.01x
EV / EBITDA 8.84x 3.52x 2.85x 2.3x 0.32x -0.12x
EV / EBIT 9.09x 3.6x 2.94x 2.51x 0.32x -0.13x
EV / FCF 14.8x 9.45x 10.8x -4.31x -0.43x 1.91x
FCF Yield 6.77% 10.6% 9.29% -23.2% -235% 52.2%
Dividend per Share 2 0.466 0.5773 - - - -
Rate of return 2.48% 3.59% - - - -
EPS 2 1.17 1.48 0.36 0.606 -2.92 0.09
Distribution rate 39.8% 39% - - - -
Net sales 1 1,262 1,730 2,666 1,784 1,794 1,735
EBITDA 1 212.4 354.6 410.7 145.8 -399.3 168.8
EBIT 1 206.7 346.2 398.4 133.4 -410 155.9
Net income 1 163.9 222 56.81 93.38 -450 14.58
Net Debt 1 -749.7 -1,229 -332.5 -222.3 -274.7 -239.1
Reference price 2 18.7725 16.0830 9.7598 3.6179 0.9440 1.4189
Nbr of stocks (in thousands) 1,40,000 1,54,000 1,54,110 1,54,110 1,54,110 1,54,110
Announcement Date 27/04/20 27/04/21 05/07/22 27/04/23 29/04/24 28/04/25
1CNY in Million2CNY
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 1.81Cr
21.38x0.96x11.68x-.--% 4.05TCr
19.37x0.72x6.76x2.49% 1.73TCr
14.25x0.52x9.1x-.--% 1.48TCr
16.32x3.28x10.47x6.09% 1.07TCr
19.03x8.07x15.17x4.86% 948.41Cr
40.02x2.38x9.32x-.--% 753.71Cr
35.2x1.24x12.23x0.84% 652.93Cr
47.57x1.06x8.1x0.33% 478.89Cr
36.5x15.15x - 1.73% 460.76Cr
Average 27.74x 3.71x 10.35x 1.82% 1.16TCr
Weighted average by Cap. 23.18x 2.34x 10.47x 1.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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