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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 3.8x - 4.2x | 4.0x |
Selected Fwd Ps Multiple | 4.1x - 4.5x | 4.3x |
Fair Value | $0.78 - $0.86 | $0.82 |
Upside | 18.3% - 30.7% | 24.5% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Guangdong Golden Dragon Development Inc. | 71,200.0% | SZSE:000712 |
Huachuang Yunxin Digital Technology Co., Ltd. | 60,015,500.0% | SHSE:600155 |
Tianfeng Securities Co., Ltd. | 60,116,200.0% | SHSE:601162 |
The Pacific Securities Co., Ltd | 60,109,900.0% | SHSE:601099 |
Xiangcai Co.,Ltd | 60,009,500.0% | SHSE:600095 |
China Renaissance Holdings Limited | - | OTCPK:CSCH.F |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
712 | 600155 | 601162 | 601099 | 600095 | CSCH.F | |||
SZSE:000712 | SHSE:600155 | SHSE:601162 | SHSE:601099 | SHSE:600095 | OTCPK:CSCH.F | |||
Historical Sales Growth | ||||||||
5Y CAGR | -15.0% | 16.0% | -6.7% | -5.7% | 2.4% | -12.6% | ||
3Y CAGR | -12.7% | -3.9% | -14.9% | -6.8% | -24.5% | -29.5% | ||
Latest Twelve Months | 82.4% | 6.3% | 59.5% | 19.3% | 14.0% | 84.4% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | -397.3% | 15.2% | -5.8% | -10.6% | 5.5% | -2.6% | ||
Prior Fiscal Year | -209.9% | 15.5% | 9.0% | 18.3% | 6.6% | -65.3% | ||
Latest Fiscal Year | -13.4% | 1.9% | -1.1% | 16.7% | 6.3% | -21.7% | ||
Latest Twelve Months | 12.1% | 3.0% | 10.3% | 19.6% | 9.7% | -4.1% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | NA | NA | NA | NA | NA | NA | ||
Price / LTM Sales | 17.7x | 5.3x | 16.9x | 22.5x | 20.5x | 4.2x | ||
LTM P/E Ratio | 146.0x | 179.5x | 164.3x | 114.6x | 211.8x | -102.4x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 5.3x | 17.7x | 22.5x | |||||
Historical LTM P/S Ratio | 2.1x | 3.0x | 4.5x | |||||
Selected Price / Sales Multiple | 3.8x | 4.0x | 4.2x | |||||
(x) LTM Sales | 981 | 981 | 981 | |||||
(=) Equity Value | 3,692 | 3,886 | 4,081 | |||||
(/) Shares Outstanding | 673.4 | 673.4 | 673.4 | |||||
Implied Value Range | 5.48 | 5.77 | 6.06 | |||||
FX Rate: CNY/USD | 7.1 | 7.1 | 7.1 | Market Price | ||||
Implied Value Range (Trading Cur) | 0.77 | 0.81 | 0.85 | 0.66 | ||||
Upside / (Downside) | 17.1% | 23.2% | 29.4% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 712 | 600155 | 601162 | 601099 | 600095 | CSCH.F | |
Value of Common Equity | 12,660 | 16,712 | 53,493 | 31,219 | 37,593 | 3,154 | |
(/) Shares Outstanding | 896.0 | 2,213.5 | 10,074.0 | 6,816.3 | 2,852.2 | 673.4 | |
Implied Stock Price | 14.13 | 7.55 | 5.31 | 4.58 | 13.18 | 4.68 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 7.12 | |
Implied Stock Price (Trading Cur) | 14.13 | 7.55 | 5.31 | 4.58 | 13.18 | 0.66 | |
Trading Currency | CNY | CNY | CNY | CNY | CNY | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 7.12 |