Financials Min Xin Holdings Limited

Equities

222

HK0222001130

Life & Health Insurance

Market Closed - Hong Kong S.E. 09:08:20 26/04/2024 BST 5-day change 1st Jan Change
2.45 HKD +2.94% Intraday chart for Min Xin Holdings Limited +1.66% -15.22%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,339 1,911 2,258 2,377 1,750 1,726
Enterprise Value (EV) 1 2,610 1,525 1,904 2,508 1,881 2,167
P/E ratio 5.78 x 3.34 x 5.18 x 4.79 x 3.92 x 43.8 x
Yield 1.79% 3.13% 2.65% 3.02% 4.1% 3.11%
Capitalization / Revenue 3.22 x 12.9 x 13.7 x 10.2 x 7.54 x 7.06 x
EV / Revenue 2.51 x 10.3 x 11.6 x 10.8 x 8.11 x 8.87 x
EV / EBITDA 79.1 x 34.5 x 90.6 x 47.3 x 48.8 x 170 x
EV / FCF 11.4 x -120 x -6.16 x -3.14 x 3.61 x 25.5 x
FCF Yield 8.77% -0.83% -16.2% -31.8% 27.7% 3.93%
Price to Book 0.5 x 0.27 x 0.3 x 0.27 x 0.21 x 0.21 x
Nbr of stocks (in thousands) 597,257 597,257 597,257 597,257 597,257 597,257
Reference price 2 5.590 3.200 3.780 3.980 2.930 2.890
Announcement Date 23/04/19 20/04/20 20/04/21 22/04/22 21/04/23 19/04/24
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,038 148.5 164.7 232.8 232 244.4
EBITDA 1 32.98 44.26 21.01 53.05 38.56 12.71
EBIT 1 31.91 43 19.74 51.51 37.11 11.09
Operating Margin 3.07% 28.95% 11.99% 22.12% 16% 4.54%
Earnings before Tax (EBT) 1 610.5 593.6 472.2 510 461.9 29.76
Net income 1 578.1 571.5 436.1 495.9 446.4 39.41
Net margin 55.69% 384.73% 264.76% 212.99% 192.42% 16.12%
EPS 2 0.9679 0.9568 0.7301 0.8303 0.7474 0.0660
Free Cash Flow 1 228.8 -12.69 -308.9 -797.9 521.4 85.11
FCF margin 22.05% -8.54% -187.53% -342.66% 224.76% 34.82%
FCF Conversion (EBITDA) 693.89% - - - 1,352.09% 669.4%
FCF Conversion (Net income) 39.59% - - - 116.81% 215.96%
Dividend per Share 2 0.1000 0.1000 0.1000 0.1200 0.1200 0.0900
Announcement Date 23/04/19 20/04/20 20/04/21 22/04/22 21/04/23 19/04/24
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - 131 131 441
Net Cash position 1 728 387 354 - - -
Leverage (Debt/EBITDA) - - - 2.476 x 3.405 x 34.67 x
Free Cash Flow 1 229 -12.7 -309 -798 521 85.1
ROE (net income / shareholders' equity) 8.73% 8.3% 5.96% 6.08% 5.26% 0.48%
ROA (Net income/ Total Assets) 0.27% 0.36% 0.15% 0.36% 0.24% 0.08%
Assets 1 210,751 159,544 284,822 139,267 183,011 52,197
Book Value Per Share 2 11.30 11.80 12.70 14.60 13.80 13.50
Cash Flow per Share 2 1.890 1.420 1.470 0.7800 0.9400 0.7000
Capex 1 1.9 0.87 0.46 0.98 1.48 1.25
Capex / Sales 0.18% 0.58% 0.28% 0.42% 0.64% 0.51%
Announcement Date 23/04/19 20/04/20 20/04/21 22/04/22 21/04/23 19/04/24
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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