Financials Top Form International Limited

Equities

333

BMG8922H1299

Apparel & Accessories

Market Closed - Hong Kong S.E. 04:09:00 2024-05-03 am EDT 5-day change 1st Jan Change
0.3 HKD 0.00% Intraday chart for Top Form International Limited -6.25% -13.04%

Valuation

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Capitalization 1 329 286 150.5 195.7 144.5 111.4
Enterprise Value (EV) 1 226.6 231.2 161 221 149.8 152.2
P/E ratio 25.6 x -4.67 x -1.95 x 59.8 x 40.7 x -1.31 x
Yield 6.54% - - - - -
Capitalization / Revenue 0.26 x 0.23 x 0.12 x 0.14 x 0.1 x 0.11 x
EV / Revenue 0.18 x 0.19 x 0.13 x 0.15 x 0.1 x 0.15 x
EV / EBITDA 7.75 x -4.8 x -3.73 x 21.5 x 3 x -4.77 x
EV / FCF -11.1 x -7.93 x 7.66 x -5.7 x 4.37 x 40.1 x
FCF Yield -9.02% -12.6% 13.1% -17.5% 22.9% 2.5%
Price to Book 0.61 x 0.55 x 0.35 x 0.41 x 0.31 x 0.3 x
Nbr of stocks (in thousands) 215,038 215,038 215,038 301,053 301,053 301,053
Reference price 2 1.530 1.330 0.7000 0.6500 0.4800 0.3700
Announcement Date 9/20/18 9/23/19 10/14/20 10/12/21 10/14/22 10/30/23
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net sales 1 1,281 1,225 1,237 1,429 1,482 1,007
EBITDA 1 29.24 -48.18 -43.18 10.28 50 -31.93
EBIT 1 6.222 -76.32 -71.04 -22.4 21.77 -59.84
Operating Margin 0.49% -6.23% -5.74% -1.57% 1.47% -5.94%
Earnings before Tax (EBT) 1 15.08 -59.41 -79.31 11.95 19.22 -76.27
Net income 1 12.87 -61.22 -77.24 2.797 3.55 -84.73
Net margin 1% -5% -6.25% 0.2% 0.24% -8.41%
EPS 2 0.0598 -0.2847 -0.3592 0.0109 0.0118 -0.2815
Free Cash Flow 1 -20.44 -29.16 21.02 -38.78 34.27 3.799
FCF margin -1.6% -2.38% 1.7% -2.71% 2.31% 0.38%
FCF Conversion (EBITDA) - - - - 68.54% -
FCF Conversion (Net income) - - - - 965.31% -
Dividend per Share 2 0.1000 - - - - -
Announcement Date 9/20/18 9/23/19 10/14/20 10/12/21 10/14/22 10/30/23
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net Debt 1 - - 10.5 25.4 5.28 40.8
Net Cash position 1 102 54.8 - - - -
Leverage (Debt/EBITDA) - - -0.2423 x 2.467 x 0.1055 x -1.279 x
Free Cash Flow 1 -20.4 -29.2 21 -38.8 34.3 3.8
ROE (net income / shareholders' equity) 2.23% -11.7% -16% 1.49% 2.26% -16.9%
ROA (Net income/ Total Assets) 0.54% -6.22% -5.34% -1.57% 1.48% -4.4%
Assets 1 2,377 984.7 1,447 -177.8 239.4 1,924
Book Value Per Share 2 2.530 2.400 1.980 1.580 1.550 1.240
Cash Flow per Share 2 0.4800 0.4400 0.5700 0.3100 0.4500 0.3700
Capex 1 32.3 41.5 68 32.5 27.5 30.1
Capex / Sales 2.52% 3.38% 5.5% 2.28% 1.86% 2.99%
Announcement Date 9/20/18 9/23/19 10/14/20 10/12/21 10/14/22 10/30/23
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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