TOPSPORTS INTERNATIONAL HOLDINGS LIMITED Financials Topsports International Holdings Limited
Equities
6110
KYG8924B1041
Apparel & Accessories Retailers
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5.22 HKD | -2.25% |
|
-8.42% | -14.14% |
| May. 23 | Jefferies Adjusts Topsports International Holdings' Price Target to HK$7.90 From HK$9.30, Keeps at Buy | MT |
| May. 23 | Topsports International Post Higher 2023 Profit, Revenue | MT |
Valuation
| Fiscal Period: February | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 50,110 | 58,997 | 40,505 | 37,515 | 30,718 | - | - |
| Enterprise Value (EV) 1 | 46,091 | 59,105 | 39,271 | 35,567 | 30,289 | 28,594 | 28,280 |
| P/E ratio | 19.8 x | 21.3 x | 16.6 x | 20.4 x | 13.7 x | 12.5 x | 11 x |
| Yield | 2.35% | 2.52% | 3.06% | 2.98% | 6.69% | 7.24% | 8.03% |
| Capitalization / Revenue | 1.49 x | 1.64 x | 1.27 x | 1.39 x | 1.05 x | 1 x | 0.91 x |
| EV / Revenue | 1.37 x | 1.64 x | 1.23 x | 1.31 x | 1.05 x | 0.93 x | 0.84 x |
| EV / EBITDA | 7.93 x | 8.93 x | 6.59 x | 7.65 x | 6.79 x | 6.13 x | 5.31 x |
| EV / FCF | 8.04 x | 14.5 x | 7.9 x | 8.91 x | 11.8 x | 7.9 x | 10.3 x |
| FCF Yield | 12.4% | 6.87% | 12.7% | 11.2% | 8.47% | 12.7% | 9.67% |
| Price to Book | 4.32 x | 6.08 x | 3.83 x | 3.81 x | 3.04 x | 3.01 x | 2.92 x |
| Nbr of stocks (in thousands) | 6,201,222 | 6,201,222 | 6,201,222 | 6,201,222 | 6,201,222 | - | - |
| Reference price 2 | 8.081 | 9.514 | 6.532 | 6.050 | 4.953 | 4.953 | 4.953 |
| Announcement Date | 5/25/20 | 5/24/21 | 5/30/22 | 5/23/23 | 5/22/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: February | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 33,690 | 36,009 | 31,876 | 27,073 | 28,933 | 30,684 | 33,797 |
| EBITDA 1 | 5,812 | 6,621 | 5,958 | 4,647 | 4,458 | 4,661 | 5,326 |
| EBIT 1 | 3,303 | 3,989 | 3,430 | 2,431 | 2,786 | 3,090 | 3,556 |
| Operating Margin | 9.8% | 11.08% | 10.76% | 8.98% | 9.63% | 10.07% | 10.52% |
| Earnings before Tax (EBT) 1 | 3,086 | 3,851 | 3,326 | 2,322 | 2,759 | 3,093 | 3,574 |
| Net income 1 | 2,303 | 2,770 | 2,446 | 1,837 | 2,213 | 2,467 | 2,799 |
| Net margin | 6.84% | 7.69% | 7.67% | 6.78% | 7.65% | 8.04% | 8.28% |
| EPS 2 | 0.4088 | 0.4467 | 0.3945 | 0.2962 | 0.3569 | 0.3975 | 0.4495 |
| Free Cash Flow 1 | 5,736 | 4,062 | 4,973 | 3,994 | 2,427 | 3,619 | 2,734 |
| FCF margin | 17.03% | 11.28% | 15.6% | 14.75% | 8.2% | 11.79% | 8.09% |
| FCF Conversion (EBITDA) | 98.69% | 61.35% | 83.47% | 85.95% | 48.79% | 77.65% | 51.34% |
| FCF Conversion (Net income) | 249.02% | 146.65% | 203.27% | 217.45% | 105.05% | 146.68% | 97.69% |
| Dividend per Share 2 | 0.1900 | 0.2400 | 0.2000 | 0.1800 | 0.3313 | 0.3586 | 0.3980 |
| Announcement Date | 5/25/20 | 5/24/21 | 5/30/22 | 5/23/23 | 5/22/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: February | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 16,958 | 16,733 | 15,770 | 20,240 | 15,573 | 16,303 | 13,218 | 13,855 | 14,176 | 14,757 | 14,639 | 16,114 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | - | - | 2,081 | 2,060 | 1,370 | 1,580 | 850.4 | 1,726 | 1,061 | 1,851 | 1,228 |
| Operating Margin | - | - | - | 10.28% | 13.23% | 8.41% | 11.96% | 6.14% | 12.17% | 7.19% | 12.65% | 7.62% |
| Earnings before Tax (EBT) 1 | - | - | - | 1,997 | - | - | - | - | - | 1,052 | 1,944 | 1,218 |
| Net income 1 | - | - | 1,309 | 1,461 | 1,431 | - | - | 691.2 | 1,337 | 875.8 | 1,517 | 1,013 |
| Net margin | - | - | 8.3% | 7.22% | 9.19% | - | - | 4.99% | 9.43% | 5.93% | 10.36% | 6.29% |
| EPS 2 | - | - | - | 0.2356 | 0.2307 | 0.1638 | 0.1847 | 0.1115 | 0.2156 | 0.1413 | 0.2200 | 0.1600 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | 0.0700 | - | - |
| Announcement Date | 11/22/19 | 5/25/20 | 10/27/20 | 5/24/21 | 10/28/21 | 5/30/22 | 10/25/22 | 5/23/23 | 10/18/23 | 5/22/24 | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: February | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 108 | - | - | - | - | - |
| Net Cash position 1 | 4,019 | - | 1,234 | 1,948 | 2,078 | 2,124 | 2,438 |
| Leverage (Debt/EBITDA) | - | 0.0164 x | - | - | - | - | - |
| Free Cash Flow 1 | 5,736 | 4,062 | 4,973 | 3,994 | 2,427 | 3,619 | 2,735 |
| ROE (net income / shareholders' equity) | 36.9% | 27.4% | 24.1% | 18% | 22.9% | 24.2% | 27.4% |
| ROA (Net income/ Total Assets) | 12% | 14% | 13.8% | 10.6% | 14.1% | 16.6% | 18.1% |
| Assets 1 | 19,126 | 19,855 | 17,751 | 17,308 | 16,346 | 14,863 | 15,424 |
| Book Value Per Share 2 | 1.870 | 1.570 | 1.710 | 1.590 | 1.630 | 1.640 | 1.690 |
| Cash Flow per Share 2 | 1.140 | 0.7600 | 0.9200 | 0.7000 | 0.7300 | 0.6400 | 0.7400 |
| Capex 1 | 712 | 643 | 716 | 357 | 568 | 498 | 503 |
| Capex / Sales | 2.11% | 1.79% | 2.25% | 1.32% | 1.92% | 1.62% | 1.49% |
| Announcement Date | 5/25/20 | 5/24/21 | 5/30/22 | 5/23/23 | 5/22/24 | - | - |
1CNY in Million2CNY
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
BUY
Number of Analysts
23
Last Close Price
4.953
CNY
Average target price
6.56
CNY
Spread / Average Target
+32.44%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -14.14% | 4.24B | |
| -15.23% | 4.13B | |
| -5.49% | 1.37B | |
| +2.56% | 569M | |
| -12.95% | 560M | |
| -23.49% | 347M | |
| +0.45% | 78.39M |
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- Financials Topsports International Holdings Limited
