Financials Prosperity Real Estate Investment Trust

Equities

808

HK0808032913

Commercial REITs

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
1.18 HKD +0.85% Intraday chart for Prosperity Real Estate Investment Trust +6.31% -15.11%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 4,458 4,583 3,688 4,640 3,002 1,794 1,794 -
Enterprise Value (EV) 1 4,458 4,583 3,688 4,640 3,002 2,100 1,794 1,794
P/E ratio - - -4.17 x 77 x - - - -
Yield 6.03% 5.99% 7.4% 5.72% 8.17% 11.9% 10.2% 11%
Capitalization / Revenue 9.98 x 9.91 x 8.14 x 10.4 x 6.92 x 4.8 x 4.11 x 4.1 x
EV / Revenue 9.98 x 9.91 x 8.14 x 10.4 x 6.92 x 4.8 x 4.11 x 4.1 x
EV / EBITDA - 15.2 x 12.4 x - 7.96 x 5.5 x 6.47 x 6.47 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.52 x 0.53 x 0.49 x 0.64 x 0.42 x 0.26 x 0.27 x 0.27 x
Nbr of stocks (in thousands) 1,485,861 1,502,622 1,524,068 1,506,512 1,508,461 1,519,923 1,519,923 -
Reference price 2 3.000 3.050 2.420 3.080 1.990 1.180 1.180 1.180
Announcement Date 3/22/19 3/5/20 3/4/21 3/10/22 3/9/23 3/15/24 - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 446.8 462.3 452.9 445 434 437.3 436 437
EBITDA 1 - 301.8 296.6 - 377.2 382.1 277 277
EBIT - 307.6 301.2 294.3 - - - -
Operating Margin - 66.54% 66.5% 66.13% - - - -
Earnings before Tax (EBT) 1 725.5 375 -834.6 98.29 121.1 21.48 157 178
Net income 1 687.6 333.1 -874.5 57.02 74.89 -5.673 184 203
Net margin 153.89% 72.05% -193.09% 12.81% 17.26% -1.3% 42.2% 46.45%
EPS - - -0.5800 0.0400 - - - -
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1810 0.1828 0.1791 0.1763 0.1625 0.1400 0.1200 0.1300
Announcement Date 3/22/19 3/5/20 3/4/21 3/10/22 3/9/23 3/15/24 - -
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 8.3% 3.2% 0.76% 2.23% 1.04% 2.2% 1.9% 2.1%
ROA (Net income/ Total Assets) - - 2.57% 1.6% 0.74% 1.5% 1.3% 1.5%
Assets 1 - - -34,080 3,571 10,084 14,067 14,154 13,533
Book Value Per Share 2 5.740 5.750 4.950 4.830 4.710 4.600 4.400 4.300
Cash Flow per Share - - - - - - - -
Capex 1 12.1 7.89 3.86 6.52 - 20 10 10
Capex / Sales 2.71% 1.71% 0.85% 1.46% - 4.6% 2.29% 2.29%
Announcement Date 3/22/19 3/5/20 3/4/21 3/10/22 3/9/23 3/15/24 - -
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
OUTPERFORM
Number of Analysts
1
Last Close Price
1.18 HKD
Average target price
1.83 HKD
Spread / Average Target
+55.08%
Consensus

Annual profits - Rate of surprise

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