Financials Times Neighborhood Holdings Limited

Equities

9928

KYG8903A1013

Real Estate Services

Market Closed - Hong Kong S.E. 04:08:05 2024-05-31 am EDT 5-day change 1st Jan Change
0.59 HKD -1.67% Intraday chart for Times Neighborhood Holdings Limited -9.23% +13.46%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,938 6,023 2,321 896.6 464.3 536.7 - -
Enterprise Value (EV) 1 3,938 4,850 1,507 86.28 -477.1 -513.5 -620.8 -747.5
P/E ratio 40.9 x 24.4 x 7.6 x -4.13 x -2.25 x 4.57 x 4.27 x 3.85 x
Yield 0.76% 1.16% 2% 2.42% 5.08% 3.61% 3.86% 4.28%
Capitalization / Revenue 3.64 x 3.43 x 0.85 x 0.34 x 0.19 x 0.21 x 0.2 x 0.2 x
EV / Revenue 3.64 x 2.76 x 0.55 x 0.03 x -0.19 x -0.2 x -0.23 x -0.27 x
EV / EBITDA 21,196,305 x 14,618,095 x 2,965,737 x 332,891 x - - - -
EV / FCF -4,479,824 x 70,512,801 x 45,075,446 x - - - - -
FCF Yield -0% 0% 0% - - - - -
Price to Book - 3.35 x 1.27 x 0.57 x 0.34 x 0.37 x 0.35 x 0.32 x
Nbr of stocks (in thousands) 908,673 985,673 985,673 985,673 982,323 982,323 - -
Reference price 2 4.334 6.110 2.355 0.9097 0.4726 0.5464 0.5464 0.5464
Announcement Date 3/10/20 3/10/21 3/31/22 3/29/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,081 1,758 2,720 2,606 2,471 2,554 2,643 2,738
EBITDA 185.8 331.8 508 259.2 - - - -
EBIT 1 170 303.9 442.3 183.4 197.7 190.8 195.8 211.5
Operating Margin 15.72% 17.28% 16.26% 7.04% 8% 7.47% 7.41% 7.73%
Earnings before Tax (EBT) 135.5 316.7 443.8 -248.3 - - - -
Net income 96.31 232.6 308 -213.6 - - - -
Net margin 8.91% 13.23% 11.32% -8.2% - - - -
EPS 2 0.1060 0.2500 0.3100 -0.2200 -0.2100 0.1196 0.1278 0.1418
Free Cash Flow -879.2 68.78 33.43 - - - - -
FCF margin -81.3% 3.91% 1.23% - - - - -
FCF Conversion (EBITDA) - 20.73% 6.58% - - - - -
FCF Conversion (Net income) - 29.57% 10.85% - - - - -
Dividend per Share 2 0.0330 0.0710 0.0470 0.0220 0.0240 0.0197 0.0211 0.0234
Announcement Date 3/10/20 3/10/21 3/31/22 3/29/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2
Net sales 1 702 1,056 1,162 1,558 1,312 1,294
EBITDA - - - - - -
EBIT 1 - - 210 232.2 130.4 53.04
Operating Margin - - 18.07% 14.91% 9.94% 4.1%
Earnings before Tax (EBT) - - - - - -
Net income 84.17 - 153.1 - 31.22 -
Net margin 11.99% - 13.17% - 2.38% -
EPS 2 0.0900 0.1600 0.1600 0.1500 0.0300 -0.2500
Dividend per Share - - - - - -
Announcement Date 8/11/20 3/10/21 8/11/21 3/31/22 8/29/22 3/29/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - 1,173 814 810 941 1,050 1,157 1,284
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow -879 68.8 33.4 - - - - -
ROE (net income / shareholders' equity) 19.3% 17.8% 18.6% 8.44% 10.9% 8.43% 8.4% 8.66%
ROA (Net income/ Total Assets) 3.74% 11.2% 11.2% 4.62% - - - -
Assets 2,574 2,075 2,757 -4,619 - - - -
Book Value Per Share 2 - 1.820 1.850 1.590 1.370 1.470 1.580 1.700
Cash Flow per Share 2 - 0.0900 0.0600 0.0700 - 0.1500 0.1500 0.1700
Capex 1 - 18.6 21.3 11.3 - 9.91 10.3 10.7
Capex / Sales - 1.06% 0.78% 0.43% - 0.39% 0.39% 0.39%
Announcement Date 3/10/20 3/10/21 3/31/22 3/29/23 3/26/24 - - -
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

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
0.5464 CNY
Average target price
0.462 CNY
Spread / Average Target
-15.44%
Consensus
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