Financials Poly Property Group Co., Limited

Equities

119

HK0119000674

Real Estate Development & Operations

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
1.35 HKD +4.65% Intraday chart for Poly Property Group Co., Limited +8.87% -15.09%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 8,971 11,827 8,312 7,612 6,687 5,159 5,159 -
Enterprise Value (EV) 1 41,031 48,765 8,312 7,612 6,687 6,076 47,889 46,686
P/E ratio 4 x 3.1 x 4.42 x 3.04 x 8.06 x 4.21 x 3.21 x 2.79 x
Yield 5.02% 6.47% - - - 9.63% 6.09% 6.62%
Capitalization / Revenue 0.39 x 0.3 x - - - 0.15 x 0.12 x 0.11 x
EV / Revenue 1.77 x 1.22 x - - - 0.15 x 1.07 x 1.02 x
EV / EBITDA 6.44 x 4.7 x - - - 1.11 x 8.31 x 7.53 x
EV / FCF 163 x - - - - 6.63 x 19 x 49.9 x
FCF Yield 0.61% - - - - 15.1% 5.26% 2%
Price to Book 0.3 x 0.36 x - - - 0.14 x 0.14 x 0.13 x
Nbr of stocks (in thousands) 3,661,537 3,661,537 3,661,537 3,713,368 3,821,183 3,821,183 3,821,183 -
Reference price 2 2.450 3.230 2.270 2.050 1.750 1.350 1.350 1.350
Announcement Date 3/29/19 3/26/20 3/26/21 3/24/22 3/28/23 3/21/24 - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 23,234 39,944 - - - 40,932 44,619 45,967
EBITDA 1 6,371 10,368 - - - 5,453 5,760 6,204
EBIT 1 6,222 10,181 - - - 5,218 5,665 5,818
Operating Margin 26.78% 25.49% - - - 12.75% 12.7% 12.66%
Earnings before Tax (EBT) 1 5,425 8,690 - - - 4,032 4,306 4,485
Net income 1 2,242 3,833 1,880 2,481 816.1 1,445 1,562 1,704
Net margin 9.65% 9.6% - - - 3.53% 3.5% 3.71%
EPS 2 0.6122 1.043 0.5130 0.6735 0.2171 0.3781 0.4210 0.4840
Free Cash Flow 1 251.8 - - - - 7,542 2,519 935.8
FCF margin 1.08% - - - - 16.88% 5.64% 2.04%
FCF Conversion (EBITDA) 3.95% - - - - 138.32% 43.73% 15.09%
FCF Conversion (Net income) 11.23% - - - - 446.45% 161.24% 54.91%
Dividend per Share 2 0.1230 0.2090 - - - 0.1300 0.0822 0.0894
Announcement Date 3/29/19 3/26/20 3/26/21 3/24/22 3/28/23 3/21/24 - -
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 32,060 36,938 - - - 44,866 42,731 41,528
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.032 x 3.563 x - - - 8.228 x 7.418 x 6.694 x
Free Cash Flow 1 252 - - - - 7,542 2,519 936
ROE (net income / shareholders' equity) 7.71% 12.3% - - - 3.6% 3.62% 3.77%
ROA (Net income/ Total Assets) 1.62% - - - - 0.75% 0.71% 0.77%
Assets 1 138,721 - - - - 225,236 220,003 221,342
Book Value Per Share 2 8.160 8.890 - - - 9.790 9.990 10.40
Cash Flow per Share 1.600 - - - - - - -
Capex 1 123 41.4 - - - 575 658 756
Capex / Sales 0.53% 0.1% - - - 1.29% 1.47% 1.65%
Announcement Date 3/29/19 3/26/20 3/26/21 3/24/22 3/28/23 3/21/24 - -
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
1.35 HKD
Average target price
2.5 HKD
Spread / Average Target
+85.19%
Consensus

Annual profits - Rate of surprise

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