WINSON HOLDINGS HONG KONG LIMITED |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.213 HKD | -7.39% |
|
+0.44% | +13.86% |
| 2023 | Winson Holdings' Fiscal H1 Profit Slides | MT |
| 2023 | Winson Holdings Hong Kong Limited Reports Earnings Results for the Half Year Ended September 30, 2023 | CI |
Valuation
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 267 | 204 | 261 | 231 | 249 | 123 |
| Enterprise Value (EV) 1 | 244.4 | 178.9 | 229 | 114.6 | 135.9 | -28.77 |
| P/E ratio | 12.3 x | 9.8 x | 12.6 x | 3.13 x | 11.3 x | 5 x |
| Yield | 3.75% | 4.91% | - | 15.3% | 3.55% | 8.05% |
| Capitalization / Revenue | 0.53 x | 0.38 x | 0.46 x | 0.44 x | 0.53 x | 0.27 x |
| EV / Revenue | 0.48 x | 0.33 x | 0.4 x | 0.22 x | 0.29 x | -0.06 x |
| EV / EBITDA | 7.89 x | 5.81 x | 7.75 x | 5.45 x | 4.47 x | -0.93 x |
| EV / FCF | -14.4 x | 29.5 x | 17.6 x | 6.08 x | 4.71 x | -0.71 x |
| FCF Yield | -6.94% | 3.39% | 5.67% | 16.5% | 21.2% | -140% |
| Price to Book | 2.35 x | 1.64 x | 1.94 x | 1.11 x | 1.27 x | 0.58 x |
| Nbr of stocks (in thousands) | 6,00,000 | 6,00,000 | 6,00,000 | 6,00,000 | 6,00,000 | 6,00,000 |
| Reference price 2 | 0.4450 | 0.3400 | 0.4350 | 0.3850 | 0.4150 | 0.2050 |
| Announcement Date | 19/06/18 | 06/06/19 | 19/06/20 | 07/07/21 | 30/06/22 | 19/06/23 |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 508.1 | 537.3 | 569.6 | 530 | 473.7 | 462.2 |
| EBITDA 1 | 30.98 | 30.8 | 29.56 | 21.04 | 30.39 | 30.79 |
| EBIT 1 | 27.24 | 25.76 | 25.95 | 17.34 | 25.21 | 26.11 |
| Operating Margin | 5.36% | 4.79% | 4.56% | 3.27% | 5.32% | 5.65% |
| Earnings before Tax (EBT) 1 | 26.89 | 26.02 | 26.15 | 76.68 | 26.38 | 29.37 |
| Net income 1 | 21.8 | 20.84 | 20.7 | 73.81 | 22.1 | 24.74 |
| Net margin | 4.29% | 3.88% | 3.63% | 13.93% | 4.66% | 5.35% |
| EPS 2 | 0.0363 | 0.0347 | 0.0345 | 0.1230 | 0.0368 | 0.0410 |
| Free Cash Flow 1 | -16.95 | 6.069 | 12.98 | 18.86 | 28.85 | 40.3 |
| FCF margin | -3.34% | 1.13% | 2.28% | 3.56% | 6.09% | 8.72% |
| FCF Conversion (EBITDA) | - | 19.7% | 43.93% | 89.63% | 94.95% | 130.87% |
| FCF Conversion (Net income) | - | 29.12% | 62.71% | 25.55% | 130.59% | 162.85% |
| Dividend per Share 2 | 0.0167 | 0.0167 | - | 0.0590 | 0.0147 | 0.0165 |
| Announcement Date | 19/06/18 | 06/06/19 | 19/06/20 | 07/07/21 | 30/06/22 | 19/06/23 |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 22.6 | 25.1 | 32 | 116 | 113 | 152 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | -16.9 | 6.07 | 13 | 18.9 | 28.9 | 40.3 |
| ROE (net income / shareholders' equity) | 21.3% | 17.5% | 16% | 43% | 10.9% | 12.2% |
| ROA (Net income/ Total Assets) | 8.92% | 8.52% | 8.12% | 4.48% | 5.83% | 6.05% |
| Assets 1 | 244.3 | 244.5 | 254.9 | 1,649 | 379.1 | 408.9 |
| Book Value Per Share 2 | 0.1900 | 0.2100 | 0.2200 | 0.3500 | 0.3300 | 0.3500 |
| Cash Flow per Share 2 | 0.0700 | 0.0600 | 0.0700 | 0.2000 | 0.2000 | 0.2600 |
| Capex 1 | 5.53 | 3.62 | 1.08 | 9.42 | 5.27 | 3.56 |
| Capex / Sales | 1.09% | 0.67% | 0.19% | 1.78% | 1.11% | 0.77% |
| Announcement Date | 19/06/18 | 06/06/19 | 19/06/20 | 07/07/21 | 30/06/22 | 19/06/23 |
1HKD in Million2HKD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +13.86% | 1.77Cr | |
| +18.90% | 568.91Cr | |
| -2.24% | 61Cr | |
| +24.52% | 47Cr | |
| -32.97% | 5.3Cr |
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