Financials Min Xin Holdings Limited

Equities

222

HK0222001130

Life & Health Insurance

Market Closed - Hong Kong S.E. 01:38:20 26/04/2024 pm IST 5-day change 1st Jan Change
2.45 HKD +2.94% Intraday chart for Min Xin Holdings Limited +1.66% -15.22%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 3,434 3,339 1,911 2,258 2,377 1,750
Enterprise Value (EV) 1 2,802 2,610 1,525 1,904 2,508 1,881
P/E ratio 5.97 x 5.78 x 3.34 x 5.18 x 4.79 x 3.92 x
Yield 1.39% 1.79% 3.13% 2.65% 3.02% 4.1%
Capitalization / Revenue 3.54 x 3.22 x 12.9 x 13.7 x 10.2 x 7.54 x
EV / Revenue 2.89 x 2.51 x 10.3 x 11.6 x 10.8 x 8.11 x
EV / EBITDA 66.7 x 79.1 x 34.5 x 90.6 x 47.3 x 48.8 x
EV / FCF -18.4 x 11.4 x -120 x -6.16 x -3.14 x 3.61 x
FCF Yield -5.42% 8.77% -0.83% -16.2% -31.8% 27.7%
Price to Book 0.53 x 0.5 x 0.27 x 0.3 x 0.27 x 0.21 x
Nbr of stocks (in thousands) 5,97,257 5,97,257 5,97,257 5,97,257 5,97,257 5,97,257
Reference price 2 5.750 5.590 3.200 3.780 3.980 2.930
Announcement Date 25/04/18 23/04/19 20/04/20 20/04/21 22/04/22 21/04/23
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 970.5 1,038 148.5 164.7 232.8 232
EBITDA 1 41.98 32.98 44.26 21.01 53.05 38.56
EBIT 1 40.69 31.91 43 19.74 51.51 37.11
Operating Margin 4.19% 3.07% 28.95% 11.99% 22.12% 16%
Earnings before Tax (EBT) 1 536.9 610.5 593.6 472.2 510 461.9
Net income 1 516.9 578.1 571.5 436.1 495.9 446.4
Net margin 53.26% 55.69% 384.73% 264.76% 212.99% 192.42%
EPS 2 0.9630 0.9679 0.9568 0.7301 0.8303 0.7474
Free Cash Flow 1 -152 228.8 -12.69 -308.9 -797.9 521.4
FCF margin -15.66% 22.05% -8.54% -187.53% -342.66% 224.76%
FCF Conversion (EBITDA) - 693.89% - - - 1,352.09%
FCF Conversion (Net income) - 39.59% - - - 116.81%
Dividend per Share 2 0.0800 0.1000 0.1000 0.1000 0.1200 0.1200
Announcement Date 25/04/18 23/04/19 20/04/20 20/04/21 22/04/22 21/04/23
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - 131 131
Net Cash position 1 632 728 387 354 - -
Leverage (Debt/EBITDA) - - - - 2.476 x 3.405 x
Free Cash Flow 1 -152 229 -12.7 -309 -798 521
ROE (net income / shareholders' equity) 9.15% 8.73% 8.3% 5.96% 6.08% 5.26%
ROA (Net income/ Total Assets) 0.37% 0.27% 0.36% 0.15% 0.36% 0.24%
Assets 1 1,38,058 2,10,751 1,59,544 2,84,822 1,39,267 1,83,011
Book Value Per Share 2 10.90 11.30 11.80 12.70 14.60 13.80
Cash Flow per Share 2 1.980 1.890 1.420 1.470 0.7800 0.9400
Capex 1 0.21 1.9 0.87 0.46 0.98 1.48
Capex / Sales 0.02% 0.18% 0.58% 0.28% 0.42% 0.64%
Announcement Date 25/04/18 23/04/19 20/04/20 20/04/21 22/04/22 21/04/23
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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