Financials Powerlong Commercial Management Holdings Limited

Equities

9909

KYG7204G1064

Real Estate Services

Market Closed - Hong Kong S.E. 01:38:17 07/05/2024 pm IST 5-day change 1st Jan Change
2.97 HKD +2.06% Intraday chart for Powerlong Commercial Management Holdings Limited +11.65% +6.45%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,266 13,442 7,596 3,668 1,630 1,725 - -
Enterprise Value (EV) 1 2,649 10,855 4,382 215.3 1,630 -2,250 -2,642 -3,060
P/E ratio 29.5 x 42.5 x 17.2 x 8.18 x 3.56 x 3.57 x 3.36 x 3.21 x
Yield 2.04% 1.16% 3.22% 4.61% - 8.19% 7.8% 7.79%
Capitalization / Revenue 3.25 x 7 x 3.08 x 1.44 x 0.62 x 0.61 x 0.57 x 0.55 x
EV / Revenue 1.63 x 5.65 x 1.78 x 0.08 x 0.62 x -0.8 x -0.88 x -0.97 x
EV / EBITDA 7.1 x 20.4 x 6.36 x 0.31 x 2.41 x -3.36 x -3.73 x -4.35 x
EV / FCF 5.03 x 13.8 x 4.56 x 0.76 x - -8.18 x -9.86 x -11.9 x
FCF Yield 19.9% 7.25% 21.9% 131% - -12.2% -10.1% -8.43%
Price to Book 3.32 x 6.24 x 3.09 x 1.34 x - 0.5 x 0.45 x 0.41 x
Nbr of stocks (in thousands) 6,00,000 6,44,000 6,42,900 6,42,900 6,42,900 6,42,900 - -
Reference price 2 8.776 20.87 11.81 5.705 2.536 2.683 2.683 2.683
Announcement Date 09/03/20 02/03/21 29/03/22 29/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,620 1,921 2,464 2,549 2,636 2,808 3,001 3,140
EBITDA 1 373.2 531.9 689.4 700.7 677.8 669.7 708.1 703.7
EBIT 1 269.3 433.6 585.4 617.3 591.6 622.2 660.1 678.5
Operating Margin 16.62% 22.57% 23.76% 24.22% 22.45% 22.16% 22% 21.61%
Earnings before Tax (EBT) 1 247.3 419.9 608.6 613.4 611.7 651.9 694.8 727.2
Net income 1 178.6 305.1 438.1 443.1 453 481.4 512.6 535.1
Net margin 11.02% 15.88% 17.78% 17.38% 17.18% 17.15% 17.08% 17.04%
EPS 2 0.2977 0.4911 0.6873 0.6979 0.7133 0.7512 0.7992 0.8353
Free Cash Flow 1 527.1 786.6 959.8 282 - 275 268 258
FCF margin 32.53% 40.94% 38.95% 11.06% - 9.79% 8.93% 8.22%
FCF Conversion (EBITDA) 141.24% 147.88% 139.22% 40.25% - 41.06% 37.85% 36.67%
FCF Conversion (Net income) 295.08% 257.84% 219.07% 63.65% - 57.12% 52.29% 48.22%
Dividend per Share 2 0.1790 0.2420 0.3800 0.2632 - 0.2198 0.2092 0.2090
Announcement Date 09/03/20 02/03/21 29/03/22 29/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 1,053 1,171 1,293 1,266 1,283 1,275 1,361 1,169 1,754 1,275 1,913
EBITDA - - - - - - - - - - -
EBIT 1 - 278.6 306.8 338.4 278.9 337 254.6 254.2 381.3 271.8 407.7
Operating Margin - 23.8% 23.72% 26.72% 21.74% 26.44% 18.71% 21.74% 21.74% 21.31% 21.31%
Earnings before Tax (EBT) - - - - - - - - - - -
Net income - 203.3 - - - - - - - - -
Net margin - 17.37% - - - - - - - - -
EPS 2 0.2571 0.3190 0.3683 0.3794 0.3185 0.4063 0.3070 0.2900 0.4400 0.3100 0.4700
Dividend per Share - - - - - - - - - - -
Announcement Date 02/03/21 18/08/21 29/03/22 30/08/22 29/03/23 24/08/23 26/03/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 2,616 2,587 3,214 3,453 - 3,975 4,367 4,785
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 527 787 960 282 - 275 268 258
ROE (net income / shareholders' equity) 19.7% 16.3% 19% 17.1% - 14.9% 14.2% 13.7%
ROA (Net income/ Total Assets) 6.78% 8.02% 9.13% 8.62% - 8.08% 7.82% 7.28%
Assets 1 2,634 3,806 4,796 5,143 - 5,958 6,555 7,350
Book Value Per Share 2 2.650 3.340 3.820 4.240 - 5.410 5.920 6.530
Cash Flow per Share 2 - 1.280 1.520 0.4500 - 0.9400 1.290 1.230
Capex 1 6.44 8.52 11.1 5.04 - 65.5 66 7
Capex / Sales 0.4% 0.44% 0.45% 0.2% - 2.33% 2.2% 0.22%
Announcement Date 09/03/20 02/03/21 29/03/22 29/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
4
Last Close Price
2.683 CNY
Average target price
2.545 CNY
Spread / Average Target
-5.15%
Consensus
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