Company Valuation: Fire Rock Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 4,512 4,147 2,150 652.8 499.2 388.5
Change - -8.09% -48.15% -69.64% -23.53% -22.17%
Enterprise Value (EV) 1 3,904 4,419 2,617 568.5 447.6 278
Change - 13.21% -40.79% -78.27% -21.28% -37.89%
P/E 13.1x -3.42x 71.2x 1.17x -29.3x -4.89x
PBR 6.57x -8.99x -5x 4.98x 4.45x 3.03x
PEG - 0x -1x 0x 0x -0x
Capitalization / Revenue 8.66x 4.01x 18.7x 4.84x 3.55x 2.66x
EV / Revenue 7.49x 4.27x 22.7x 4.21x 3.18x 1.9x
EV / EBITDA 9.21x 6.76x 208x 314x 20.7x 42.1x
EV / EBIT 9.4x 6.91x 222x 920x 22.7x 58.6x
EV / FCF 12.5x 6.11x -12x -16.8x 58.3x 19.1x
FCF Yield 7.99% 16.4% -8.35% -5.94% 1.72% 5.23%
Dividend per Share 3 0.219 - - - - -
Rate of return 0.93% - - - - -
EPS 3 1.788 -6.318 0.1573 2.916 -0.0889 -0.3273
Distribution rate 12.3% - - - - -
Net sales 1 520.9 1,035 115.1 134.9 140.6 146.2
EBITDA 1 424.1 653.5 12.59 1.81 21.63 6.595
EBIT 1 415.1 639.9 11.77 0.618 19.7 4.744
Net income 1 343.2 -1,213 30.2 559.9 -17.06 -64.41
Net Debt 1 -608.3 272.2 466.4 -84.28 -51.65 -110.6
Reference price 3 23.500 21.600 11.200 3.400 2.600 1.600
Nbr of stocks (in thousands) 192,000 192,000 192,000 192,000 192,000 242,821
Announcement Date 4/11/21 A 8/9/23 A 8/9/23 A 4/25/24 A 4/24/25 A 4/27/26 A
1HKD in Million2CNY in Million3HKD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 53.42M
14.58x6.76x14.62x0.31% 3,496B
20.95x6.12x10.99x0.35% 1,560B
33.25x15.48x24.5x0.54% 569B
14.55x3.86x8.95x1.4% 482B
20.79x1.51x10.12x1% 272B
17.69x5.23x15.68x-.--% 260B
93.79x12.16x66.67x-.--% 192B
26.08x2.49x12.58x-.--% 140B
45.58x5.34x35.23x-.--% 124B
Average 31.92x 6.55x 22.15x 0.4% 709B
Weighted average by Cap. 20.74x 6.90x 15.82x 0.41%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Fire Rock Holdings Limited

Historical PBR trend

Valuation ratios - PBR - Fire Rock Holdings Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Fire Rock Holdings Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Fire Rock Holdings Limited

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