Company Valuation: Tasty Concepts Holding Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 39 50.5 180 16.5 36.58 24.06
Change - 29.49% 256.44% -90.83% 121.67% -34.21%
Enterprise Value (EV) 1 31.57 44.8 179.1 29.87 33.4 26.24
Change - 41.92% 299.65% -83.32% 11.82% -21.43%
P/E -0.69x -3.77x -13x -1.66x -2.52x -3.96x
PBR 1.12x 2.37x 24x 4.35x 1.65x 1.49x
PEG - 0x -3.88x 0x 0x 0.1x
Capitalization / Revenue 0.48x 0.97x 4.3x 0.39x 0.96x 0.78x
EV / Revenue 0.39x 0.86x 4.28x 0.71x 0.87x 0.85x
EV / EBITDA -2.05x -4.11x -18.3x -3.21x -5.91x -8.66x
EV / EBIT -1.34x -3.3x -15.4x -3.1x -5.49x -4.47x
EV / FCF -1.43x -23.3x -55.1x -12x -2.57x -265x
FCF Yield -70% -4.28% -1.81% -8.31% -38.9% -0.38%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -1.129 -0.2677 -0.2767 -0.1805 -0.0753 -0.0315
Distribution rate - - - - - -
Net sales 1 81.08 51.87 41.88 42.27 38.29 30.92
EBITDA 1 -15.38 -10.91 -9.791 -9.315 -5.648 -3.031
EBIT 1 -23.49 -13.59 -11.6 -9.628 -6.082 -5.871
Net income 1 -56.44 -13.38 -13.83 -9.65 -8.133 -6.073
Net Debt 1 -7.431 -5.698 -0.949 13.37 -3.177 2.178
Reference price 2 0.7800 1.0100 3.6000 0.3000 0.1900 0.1250
Nbr of stocks (in thousands) 50,000 50,000 50,000 55,000 192,500 192,500
Announcement Date 6/30/20 A 6/30/21 A 6/30/22 A 6/28/23 A 7/31/24 A 7/30/25 A
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 2.6M
20.82x8.11x14.69x2.79% 191B
34.33x4.13x23.45x-.--% 48.84B
23.16x5.98x17.44x1.91% 42.86B
18.33x3.84x11.96x3.49% 25.79B
15.59x1.16x7.55x2.52% 16.06B
18.51x3.17x14.77x2.26% 11.65B
29.34x2.48x - 0.8% 6.83B
18.21x1.93x7.93x4.44% 5.03B
Average 22.29x 3.85x 13.97x 2.28% 38.64B
Weighted average by Cap. 22.63x 6.29x 15.65x 2.3%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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