Financials Vinda International Holdings Limited

Equities

3331

KYG9361V1086

Personal Products

Market Closed - Hong Kong S.E. 04:08:08 2024-04-02 am EDT 5-day change 1st Jan Change
23.45 HKD -.--% Intraday chart for Vinda International Holdings Limited -.--% +3.08%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 14,721 16,947 25,369 22,824 27,675 27,375
Enterprise Value (EV) 1 19,289 20,737 29,473 26,690 30,950 30,301
P/E ratio 22.7 x 14.9 x 13.5 x 13.9 x 39.2 x 108 x
Yield 1.62% 1.97% 2.22% 2.63% 1.74% 0.44%
Capitalization / Revenue 0.99 x 1.05 x 1.54 x 1.22 x 1.43 x 1.37 x
EV / Revenue 1.3 x 1.29 x 1.78 x 1.43 x 1.59 x 1.52 x
EV / EBITDA 9.72 x 8.08 x 8.7 x 8.59 x 15.2 x 18.1 x
EV / FCF 41.2 x 30.9 x -117 x 43 x 25.5 x 37.5 x
FCF Yield 2.42% 3.24% -0.85% 2.32% 3.92% 2.67%
Price to Book 1.69 x 1.79 x 2.17 x 1.75 x 2.31 x 2.37 x
Nbr of stocks (in thousands) 1,194,852 1,195,103 1,199,474 1,201,265 1,203,275 1,203,285
Reference price 2 12.32 14.18 21.15 19.00 23.00 22.75
Announcement Date 3/10/19 3/11/20 4/12/21 4/21/22 4/11/23 3/28/24
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 14,879 16,074 16,512 18,676 19,418 19,999
EBITDA 1 1,984 2,568 3,388 3,106 2,033 1,671
EBIT 1 1,095 1,591 2,386 2,010 881 460.2
Operating Margin 7.36% 9.9% 14.45% 10.76% 4.54% 2.3%
Earnings before Tax (EBT) 1 797.7 1,371 2,326 1,950 746.9 287.6
Net income 1 649.3 1,138 1,874 1,638 706 253.2
Net margin 4.36% 7.08% 11.35% 8.77% 3.64% 1.27%
EPS 2 0.5430 0.9520 1.562 1.363 0.5869 0.2100
Free Cash Flow 1 467.7 672.1 -251 620.5 1,214 808.3
FCF margin 3.14% 4.18% -1.52% 3.32% 6.25% 4.04%
FCF Conversion (EBITDA) 23.57% 26.17% - 19.98% 59.7% 48.36%
FCF Conversion (Net income) 72.03% 59.04% - 37.87% 171.88% 319.28%
Dividend per Share 2 0.2000 0.2800 0.4700 0.5000 0.4000 0.1000
Announcement Date 3/10/19 3/11/20 4/12/21 4/21/22 4/11/23 3/28/24
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 S1 2022 S2 2023 S1 2023 S2
Net sales 1 4,106 5,486 - 9,737 - 9,929
EBITDA 1 - 800 - - - -
EBIT 1 - 478.5 - 49.6 - 286.6
Operating Margin - 8.72% - 0.51% - 2.89%
Earnings before Tax (EBT) - - - 15.18 - -
Net income 266 - 637.7 68.32 120.6 132.5
Net margin 6.48% - - 0.7% - 1.33%
EPS - - 0.5300 - 0.1000 -
Dividend per Share - - - - - -
Announcement Date 10/22/21 1/25/22 8/19/22 1/25/23 7/19/23 1/24/24
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 4,568 3,790 4,104 3,866 3,275 2,926
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.302 x 1.476 x 1.212 x 1.245 x 1.611 x 1.751 x
Free Cash Flow 1 468 672 -251 620 1,214 808
ROE (net income / shareholders' equity) 7.43% 12.5% 17.7% 13.3% 5.64% 2.15%
ROA (Net income/ Total Assets) 3.6% 5.19% 7.03% 5.31% 2.27% 1.24%
Assets 1 18,038 21,951 26,651 30,844 31,077 20,435
Book Value Per Share 2 7.310 7.920 9.730 10.80 9.970 9.580
Cash Flow per Share 2 0.4800 0.3900 0.6200 0.8500 0.5000 1.140
Capex 1 1,173 1,247 1,697 1,755 1,100 1,118
Capex / Sales 7.89% 7.76% 10.28% 9.4% 5.66% 5.59%
Announcement Date 3/10/19 3/11/20 4/12/21 4/21/22 4/11/23 3/28/24
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly revenue - Rate of surprise

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