SJM HOLDINGS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.86 HKD | +2.14% |
|
+9.58% | +15.79% |
| Mar. 06 | SJM Shrinks Loss in 2023 as Revenue Balloons 224% | MT |
| Mar. 06 | SJM Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 41,316 | 50,243 | 49,230 | 29,828 | 32,100 | 20,311 | 20,311 | - |
| Enterprise Value (EV) 1 | 38,356 | 51,223 | 62,154 | 50,490 | 57,361 | 17,541 | 41,973 | 40,397 |
| P/E ratio | 14.5 x | 15.7 x | -16.3 x | -7.2 x | -3.69 x | -8.73 x | 45.6 x | 11.3 x |
| Yield | 3.97% | 3.38% | - | - | - | - | 0.06% | 1.76% |
| Capitalization / Revenue | 1.2 x | 1.48 x | 6.56 x | 2.96 x | 4.81 x | 0.81 x | 0.73 x | 0.68 x |
| EV / Revenue | 1.11 x | 1.51 x | 8.28 x | 5.01 x | 8.59 x | 0.81 x | 1.51 x | 1.34 x |
| EV / EBITDA | 10.3 x | 12.2 x | -29.8 x | -31.9 x | -18.5 x | 10.2 x | 11.2 x | 8.3 x |
| EV / FCF | -16.4 x | -47.5 x | -5.49 x | -8.55 x | -10.8 x | -14,887 x | 23.2 x | 16.3 x |
| FCF Yield | -6.09% | -2.1% | -18.2% | -11.7% | -9.23% | -0.01% | 4.32% | 6.14% |
| Price to Book | 1.5 x | 1.73 x | 2 x | 1.47 x | 2.01 x | 1.32 x | 1.3 x | 1.18 x |
| Nbr of stocks (in thousands) | 5,659,659 | 5,664,369 | 5,678,144 | 5,681,444 | 7,101,805 | 7,101,805 | 7,101,805 | - |
| Reference price 2 | 7.300 | 8.870 | 8.670 | 5.250 | 4.520 | 2.860 | 2.860 | 2.860 |
| Announcement Date | 2/28/19 | 3/16/20 | 2/23/21 | 2/28/22 | 3/8/23 | 3/6/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 34,410 | 33,875 | 7,507 | 10,076 | 6,679 | 21,623 | 27,823 | 30,086 |
| EBITDA 1 | 3,724 | 4,213 | -2,089 | -1,581 | -3,095 | 1,727 | 3,764 | 4,865 |
| EBIT 1 | 2,561 | 3,158 | -3,089 | -2,837 | -4,990 | -112.5 | 1,808 | 2,812 |
| Operating Margin | 7.44% | 9.32% | -41.15% | -28.16% | -74.72% | -0.52% | 6.5% | 9.35% |
| Earnings before Tax (EBT) 1 | 2,940 | 3,369 | -3,152 | -4,177 | -7,788 | -1,839 | 850.7 | 1,816 |
| Net income 1 | 2,850 | 3,207 | -3,025 | -4,144 | -7,798 | -2,010 | 373 | 1,751 |
| Net margin | 8.28% | 9.47% | -40.3% | -41.12% | -116.77% | -9.29% | 1.34% | 5.82% |
| EPS 2 | 0.5030 | 0.5660 | -0.5330 | -0.7290 | -1.226 | -0.2830 | 0.0628 | 0.2534 |
| Free Cash Flow 1 | -2,337 | -1,078 | -11,328 | -5,906 | -5,295 | -2.948 | 1,811 | 2,480 |
| FCF margin | -6.79% | -3.18% | -150.9% | -58.62% | -79.28% | -0.01% | 6.51% | 8.24% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | 48.12% | 50.97% |
| FCF Conversion (Net income) | - | - | - | - | - | - | 485.53% | 141.62% |
| Dividend per Share 2 | 0.2900 | 0.3000 | - | - | - | - | 0.001620 | 0.0503 |
| Announcement Date | 2/28/19 | 3/16/20 | 2/23/21 | 2/28/22 | 3/8/23 | 3/6/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2019 S2 | 2020 S1 | 2020 S2 | 2021 Q1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,074 | 16,801 | 4,374 | 3,133 | 2,478 | 2,744 | 2,411 | 2,443 | 2,538 | 1,591 | 1,028 | 1,522 | 4,000 | 5,362 | - | 5,868 | 6,595 | - | 6,545 | 6,840 | - | 7,049 | - |
| EBITDA 1 | 2,078 | 2,135 | -984 | -1,105 | -319 | -191 | -460 | -611 | - | -702 | -968 | -951 | 31 | 430 | 461 | 566 | 718.8 | 1,266 | 868.7 | 899 | 1,801 | 1,000 | 2,148 |
| EBIT 1 | - | - | - | - | -788.2 | -788.2 | -1,197 | -1,197 | -1,169 | -1,169 | - | - | - | - | - | 210.6 | 144 | - | 363.7 | 479.3 | - | 597.5 | - |
| Operating Margin | - | - | - | - | -31.81% | -28.72% | -49.65% | -49% | -46.05% | -73.47% | - | - | - | - | - | 3.46% | 2.18% | - | 5.56% | 7.01% | - | 8.48% | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | - | - | - | - | -0.1300 | -0.1300 | -0.2400 | -0.2400 | -0.2400 | -0.2400 | - | - | - | - | - | -0.0331 | -0.0254 | - | -0.0100 | 0.0100 | - | 0.0200 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 7/30/19 | 3/16/20 | 7/28/20 | 2/23/21 | 5/4/21 | 8/3/21 | 11/4/21 | 2/28/22 | 5/3/22 | 8/1/22 | 10/31/22 | 3/8/23 | 5/15/23 | 8/21/23 | 8/21/23 | 11/14/23 | - | 3/6/24 | - | - | - | - | - |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 980 | 12,925 | 20,662 | 25,261 | 23,572 | 21,661 | 20,086 |
| Net Cash position 1 | 2,960 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.2327 x | -6.187 x | -13.07 x | -8.162 x | 12.71 x | 5.755 x | 4.129 x |
| Free Cash Flow 1 | -2,337 | -1,078 | -11,328 | -5,906 | -5,295 | -2.95 | 1,811 | 2,480 |
| ROE (net income / shareholders' equity) | 10.8% | 11.3% | -11.3% | -18.5% | -42.9% | -10.2% | 5.14% | 10.2% |
| ROA (Net income/ Total Assets) | 5.55% | 5.63% | -5.48% | -8.08% | -15.2% | -2.04% | 2% | 3.57% |
| Assets 1 | 51,343 | 57,012 | 55,174 | 51,314 | 51,278 | 66,400 | 18,652 | 49,110 |
| Book Value Per Share 2 | 4.870 | 5.120 | 4.330 | 3.580 | 2.250 | 2.170 | 2.200 | 2.430 |
| Cash Flow per Share 2 | 0.7100 | 0.7800 | -1.390 | -0.8000 | -0.6600 | 0.3800 | 0.6100 | 0.6200 |
| Capex 1 | 6,373 | 5,502 | 3,448 | 1,366 | 1,077 | 1,366 | 1,379 | 1,535 |
| Capex / Sales | 18.52% | 16.24% | 45.93% | 13.56% | 16.13% | 6.2% | 4.96% | 5.1% |
| Announcement Date | 2/28/19 | 3/16/20 | 2/23/21 | 2/28/22 | 3/8/23 | 3/6/24 | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
15
Last Close Price
2.86
HKD
Average target price
3.409
HKD
Spread / Average Target
+19.18%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.79% | 2.59B | |
| -7.64% | 33.86B | |
| +5.24% | 10.74B | |
| -8.00% | 8.15B | |
| -5.62% | 2.22B | |
| +2.64% | 2B | |
| 0.00% | 1.53B | |
| +9.80% | 1.37B | |
| -1.56% | 1.28B | |
| -13.77% | 1.07B |
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- Financials SJM Holdings Limited
