Company Valuation: Dickson Concepts (International) Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 1,632 1,577 1,581 1,939 1,861 2,413
Change - -3.38% 0.25% 22.69% -4.06% 29.67%
Enterprise Value (EV) 1 -208.1 173.8 -272.1 -874 -1,194 -968.5
Change - 183.52% -256.54% -221.2% -36.58% 18.86%
P/E 3.53x 7.85x 6.26x 5.53x 9.56x 9.69x
PBR 0.5x 0.48x 0.47x 0.54x 0.53x 0.65x
PEG - -0.1x 0.2x 0.1x -0.2x 0.3x
Capitalization / Revenue 0.72x 0.78x 0.74x 0.81x 0.97x 1.21x
EV / Revenue -0.09x 0.09x -0.13x -0.36x -0.62x -0.49x
EV / EBITDA -0.4x 0.63x -0.72x -2.34x -4.92x -3.61x
EV / EBIT -0.42x 0.68x -0.78x -2.55x -5.57x -3.97x
EV / FCF -0.33x 0.54x -1.47x -5.01x -5.31x -3.81x
FCF Yield -307% 184% -68.2% -20% -18.8% -26.2%
Dividend per Share 2 0.35 0.35 0.35 0.45 0.1 0.35
Rate of return 8.45% 8.75% 8.73% 9.15% 2.07% 5.6%
EPS 2 1.172 0.5097 0.6409 0.8898 0.5041 0.6448
Distribution rate 29.9% 68.7% 54.6% 50.6% 19.8% 54.3%
Net sales 1 2,275 2,020 2,131 2,400 1,922 1,989
EBITDA 1 522 273.9 378.3 373.7 242.5 268.4
EBIT 1 501.3 254.1 351 342.2 214.2 244
Net income 1 461.8 200.9 252.6 350.8 198 248.9
Net Debt 1 -1,840 -1,403 -1,853 -2,814 -3,055 -3,381
Reference price 2 4.140 4.000 4.010 4.920 4.820 6.250
Nbr of stocks (in thousands) 394,203 394,203 394,203 394,203 386,059 386,059
Announcement Date 7/8/21 A 7/13/22 A 7/10/23 A 7/11/24 A 6/24/25 A 7/6/26 A
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 320M
25.92x4x14.13x3.43% 202B
47.51x5.83x24.32x0.78% 151B
32.15x3.07x20.53x0.72% 80.54B
52.79x2.95x11.54x1.19% 40.09B
22.34x4.02x16.09x1.05% 30.79B
22.44x1.49x8.45x4.19% 29.16B
18.7x2.58x11.5x1.92% 22.81B
31.83x1.85x15.63x-.--% 22.92B
15.44x - - 4.2% 10.79B
Average 29.90x 3.22x 15.27x 1.94% 59.02B
Weighted average by Cap. 33.51x 4.01x 17.26x 1.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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