Beijing Gehua Catv NetworkLtd Valuation

Q: What is the Fair Price of 600037 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

600037 (CN¥7.3) is trading above our estimate of [[fair value]] (CN¥0.1)

Is 600037 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 600037 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600037 (CN¥7.3) is trading above our estimate of fair value (CN¥0.1)

Significantly Below Fair Value: 600037 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600037?

Key metric: As 600037 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 600037. This is calculated by dividing 600037's market cap by their current revenue.
What is 600037's PS Ratio?
PS Ratio	4.3x
Sales	CN¥2.37b
Market Cap	CN¥10.16b

600037 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1x
Enterprise Value/EBITDA	8.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 600037's PS Ratio compare to its peers?

The above table shows the PS ratio for 600037 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	4.6x
002238 Shenzhen Topway Video Communication	5x	n/a	CN¥7.3b
000156 Wasu Media HoldingLtd	1.6x	n/a	CN¥14.7b
600996 Guizhou BC&TV Information NetworkLTD	8x	n/a	CN¥11.2b
000839 CITIC Guoan Information Industry	3.9x	n/a	CN¥13.2b
600037 Beijing Gehua Catv NetworkLtd	4.3x	7.7%	CN¥10.2b

Price-To-Sales vs Peers: 600037 is good value based on its Price-To-Sales Ratio (4.3x) compared to the peer average (4.6x).

Price to Sales Ratio vs Industry

How does 600037's PS Ratio compare vs other companies in the CN Media Industry?

4 Companies	Price / Sales	Estimated Growth	Market Cap
300058 BlueFocus Intelligent Communications Group	0.4x	13.1%	US$3.13b
002115 Sunwave CommunicationsLtd	0.4x	n/a	US$645.00m
002712 Simei MediaLtd	0.5x	n/a	US$416.93m
000038 Shenzhen Capstone IndustrialLtd	0.1x	n/a	US$37.89m

No more companies available in this PS range

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 600037 is expensive based on its Price-To-Sales Ratio (4.3x) compared to the CN Media industry average (3.2x).

Price to Sales Ratio vs Fair Ratio

What is 600037's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600037 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	4.3x
Fair PS Ratio	2x

Price-To-Sales vs Fair Ratio: 600037 is expensive based on its Price-To-Sales Ratio (4.3x) compared to the estimated Fair Price-To-Sales Ratio (2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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