Financials TK Group (Holdings) Limited

Equities

2283

KYG889391069

Industrial Machinery & Equipment

Market Closed - Hong Kong S.E. Other stock markets 01:38:20 14/05/2024 pm IST			5-day change	1st Jan Change
1.93 ^HKD	+1.58%		+1.58%	+36.88%

03/05	TK Group's 2023 Profit Falls as Revenue Declines; Shares Surge 13%	MT
22/03	TK Group Limited Proposes Special Dividend for the Year Ended 31 December 2023, Payable on 20 June 2024	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,550	3,250	2,083	2,083	1,317	1,608	1,608	-
Enterprise Value (EV) ¹	3,138	2,757	1,544	1,219	508.2	1,175	492.2	428.2
P/E ratio	10.1 x	10.8 x	10 x	7.35 x	5.85 x	5.64 x	5.68 x	4.83 x
Yield	4.69%	4.87%	4%	-	7.22%	-	-	-
Capitalization / Revenue	1.54 x	1.41 x	1.02 x	0.87 x	0.58 x	0.6 x	0.69 x	0.61 x
EV / Revenue	1.54 x	1.41 x	1.02 x	0.87 x	0.58 x	0.6 x	0.69 x	0.61 x
EV / EBITDA	70,47,827 x	57,72,199 x	46,81,740 x	39,51,735 x	27,74,020 x	-	35,97,742 x	31,78,242 x
EV / FCF	1,55,20,201 x	1,36,77,073 x	45,67,889 x	1,13,09,170 x	-	-	68,72,610 x	53,60,635 x
FCF Yield	0%	0%	0%	0%	-	-	0%	0%
Price to Book	3.3 x	2.73 x	1.49 x	-	0.82 x	-	-	-
Nbr of stocks (in thousands)	8,33,260	8,33,260	8,33,260	8,33,260	8,33,260	8,33,260	8,33,260	-
Reference price ²	4.260	3.900	2.500	2.500	1.580	1.930	1.930	1.930
Announcement Date	11/03/19	27/03/20	26/03/21	25/03/22	31/03/23	22/03/24	-	-

¹HKD in Million²HKD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	2,299	2,311	2,033	2,404	2,279	1,946	2,316	2,623
EBITDA	503.7	563	445	527.1	474.6	-	447	506
EBIT ¹	400.3	361.5	234.9	305.9	247.8	234.7	269.5	317
Operating Margin	17.42%	15.64%	11.55%	12.72%	10.87%	12.06%	11.64%	12.09%
Earnings before Tax (EBT) ¹	407.1	360.5	240.5	324.5	258.8	237	312.5	367.5
Net income ¹	350.2	301.8	209.7	282.4	226.9	204.2	270.4	318.8
Net margin	15.23%	13.06%	10.31%	11.74%	9.96%	10.49%	11.67%	12.15%
EPS ²	0.4200	0.3600	0.2500	0.3400	0.2700	0.2500	0.3400	0.4000
Free Cash Flow	228.7	237.6	456	184.2	-	-	234	300
FCF margin	9.95%	10.28%	22.43%	7.66%	-	-	10.1%	11.44%
FCF Conversion (EBITDA)	45.41%	42.2%	102.49%	34.94%	-	-	52.35%	59.29%
FCF Conversion (Net income)	65.31%	78.73%	217.49%	65.23%	-	-	86.55%	94.12%
Dividend per Share	0.2000	0.1900	0.1000	-	0.1140	-	-	-
Announcement Date	11/03/19	27/03/20	26/03/21	25/03/22	31/03/23	22/03/24	-	-

¹HKD in Million²HKD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S1	2019 S2	2020 S1	2020 S2	2021 S1	2022 S1
Net sales	1,005	1,306	-	1,304	-	-
EBITDA	-	-	-	-	-	-
EBIT	137	224.5	-	-	-	-
Operating Margin	13.64%	17.19%	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income ¹	114.1	187.7	41.36	-	115.2	58.45
Net margin	11.36%	14.37%	-	-	-	-
EPS ²	-	-	0.0500	-	-	0.0700
Dividend per Share	-	-	-	-	-	-
Announcement Date	23/08/19	27/03/20	21/08/20	26/03/21	16/08/21	26/08/22

¹HKD in Million²HKD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	412	493	540	864	808	-	1,116	1,180
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	229	238	456	184	-	-	234	300
ROE (net income / shareholders' equity)	35.2%	26.6%	16.2%	18.7%	14.1%	14%	15.7%	17.4%
ROA (Net income/ Total Assets)	18.4%	13.4%	8.56%	10.4%	8.18%	-	10.5%	11.9%
Assets ¹	1,901	2,244	2,450	2,712	2,774	-	2,575	2,679
Book Value Per Share	1.290	1.430	1.680	-	1.940	-	-	-
Cash Flow per Share	0.5900	-	-	-	0.4500	-	-	-
Capex ¹	263	206	62.1	104	139	133	118	141
Capex / Sales	11.43%	8.92%	3.05%	4.31%	6.09%	6.49%	5.09%	5.38%
Announcement Date	11/03/19	27/03/20	26/03/21	25/03/22	31/03/23	22/03/24	-	-

¹HKD in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for TK Group (Holdings) Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.93 HKD

Average target price

2.615 HKD

Spread / Average Target

+35.49%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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Industrial Moulds