Company Valuation: Southeast Asia Properties & Finance Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 757.4 732.6 721.3 698.8 378.7 360.7
Change - -3.27% -1.54% -3.12% -45.81% -4.76%
Enterprise Value (EV) 1 871.8 992.1 909.6 988.2 644.1 661.3
Change - 13.8% -8.32% 8.64% -34.82% 2.68%
P/E 121x 27.6x 24.7x 12.4x -14.8x -8.38x
PBR 0.73x 0.69x 0.67x 0.62x 0.34x 0.31x
PEG - 0x 2.4x 0.1x 0x -0.1x
Capitalization / Revenue 2.91x 2.67x 3.02x 3.63x 1.63x 1.58x
EV / Revenue 3.35x 3.62x 3.81x 5.13x 2.77x 2.89x
EV / EBITDA 29.4x 31.7x 76.1x 46.9x 26.3x 18x
EV / EBIT 45.8x 46.8x 299x 78.1x 39.6x 43.9x
EV / FCF 8.26x -19.8x 18.2x -13.9x -232x -324x
FCF Yield 12.1% -5.05% 5.48% -7.18% -0.43% -0.31%
Dividend per Share 2 0.03 0.03 0.03 0.03 0.03 0.03
Rate of return 0.89% 0.92% 0.94% 0.97% 1.79% 1.88%
EPS 2 0.0278 0.1176 0.1296 0.2502 -0.1134 -0.1908
Distribution rate 108% 25.5% 23.1% 12% -26.4% -15.7%
Net sales 1 260.3 274.4 238.5 192.7 232.3 228.5
EBITDA 1 29.66 31.26 11.96 21.07 24.48 36.83
EBIT 1 19.05 21.21 3.046 12.66 16.26 15.06
Net income 1 6.266 26.51 29.22 56.39 -25.57 -43.02
Net Debt 1 114.4 259.5 188.2 289.4 265.4 300.7
Reference price 2 3.360 3.250 3.200 3.100 1.680 1.600
Nbr of stocks (in thousands) 225,420 225,420 225,420 225,420 225,420 225,420
Announcement Date 7/23/21 A 7/28/22 A 7/27/23 A 7/30/24 A 7/25/25 A 5/30/26 A
1HKD in Million2HKD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 70.39M
14.85x1.35x8.54x6.03% 20.2B
20.44x3.19x9x2.99% 20.06B
25.57x1.48x10.52x1.22% 17.04B
19.74x1.86x11.44x2.11% 14.2B
16.57x1.29x8.55x1.15% 12.98B
20.42x2.23x10.64x1.42% 11.89B
32.53x2.49x12.09x1.36% 9.07B
40.51x1.09x7.99x2.86% 8.4B
Average 23.83x 1.87x 9.85x 2.39% 13B
Weighted average by Cap. 22.13x 1.92x 9.74x 2.64%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Southeast Asia Properties & Finance Limited

Historical PBR trend

Valuation ratios - PBR - Southeast Asia Properties & Finance Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Southeast Asia Properties & Finance Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Southeast Asia Properties & Finance Limited

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