Financials Maxicity Holdings Limited

Equities

2295

KYG5897S1066

Construction & Engineering

Delayed Hong Kong S.E. 09:08:20 14/05/2024 BST 5-day change 1st Jan Change
2.3 HKD +9.52% Intraday chart for Maxicity Holdings Limited +9.52% +48.39%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023
Capitalization 1 166 216 580 544 620
Enterprise Value (EV) 1 99.63 132.1 460.8 398.3 506.2
P/E ratio 18.5 x 5.49 x 20.9 x 37.6 x 44.5 x
Yield - - - 5.51% 1.61%
Capitalization / Revenue 0.9 x 0.78 x 1.97 x 2.83 x 3.69 x
EV / Revenue 0.54 x 0.48 x 1.57 x 2.07 x 3.01 x
EV / EBITDA 3.47 x 2.99 x 9.91 x 27.9 x 34.8 x
EV / FCF 6.15 x 30.5 x 12.7 x 18.3 x 313 x
FCF Yield 16.3% 3.28% 7.87% 5.46% 0.32%
Price to Book 1.9 x 1.7 x 3.75 x 3.22 x 4.33 x
Nbr of stocks (in thousands) 400,000 400,000 400,000 400,000 400,000
Reference price 2 0.4150 0.5400 1.450 1.360 1.550
Announcement Date 27/03/20 09/03/21 14/04/22 13/04/23 18/04/24
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 111.2 183.9 276 293.9 192.3 168.2
EBITDA 1 19.83 28.68 44.16 46.49 14.27 14.56
EBIT 1 19.21 28.06 42.92 44.89 12.02 11.68
Operating Margin 17.27% 15.26% 15.55% 15.27% 6.25% 6.94%
Earnings before Tax (EBT) 1 19.07 11.48 46.24 35.26 16.28 15.94
Net income 1 16.09 6.866 39.35 27.8 14.48 13.94
Net margin 14.47% 3.73% 14.26% 9.46% 7.53% 8.29%
EPS 2 0.0536 0.0225 0.0984 0.0695 0.0362 0.0349
Free Cash Flow 1 2.303 16.2 4.328 36.26 21.77 1.618
FCF margin 2.07% 8.81% 1.57% 12.34% 11.32% 0.96%
FCF Conversion (EBITDA) 11.62% 56.48% 9.8% 77.99% 152.55% 11.12%
FCF Conversion (Net income) 14.31% 235.96% 11% 130.41% 150.38% 11.61%
Dividend per Share - - - - 0.0750 0.0250
Announcement Date 29/11/19 27/03/20 09/03/21 14/04/22 13/04/23 18/04/24
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 7.5 66.4 83.9 119 146 114
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 2.3 16.2 4.33 36.3 21.8 1.62
ROE (net income / shareholders' equity) 68.4% 12% 36.7% 19.8% 8.94% 8.93%
ROA (Net income/ Total Assets) 34.1% 23.7% 19.9% 16.1% 3.81% 3.9%
Assets 1 47.19 29.02 197.5 172.6 379.7 357.2
Book Value Per Share 2 0.0900 0.2200 0.3200 0.3900 0.4200 0.3600
Cash Flow per Share 2 0.0400 0.1700 0.2100 0.3000 0.3700 0.2900
Capex 1 0.31 2.07 2.57 0.86 6.09 0.42
Capex / Sales 0.28% 1.13% 0.93% 0.29% 3.17% 0.25%
Announcement Date 29/11/19 27/03/20 09/03/21 14/04/22 13/04/23 18/04/24
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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