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CIMC Vehicles (Group) Valuation

Is 1839 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

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

Share Price vs Fair Value

What is the Fair Price of 1839 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1839 (HK$7.46) is trading above our estimate of fair value (HK$5.94)

Significantly Below Fair Value: 1839 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1839?

Key metric: As 1839 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1839. This is calculated by dividing 1839's market cap by their current earnings.
What is 1839's PE Ratio?
PE Ratio	6.2x
Earnings	CN¥2.24b
Market Cap	CN¥17.77b

1839 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	0.5x
Enterprise Value/EBITDA	5.9x
PEG Ratio	-1x

Price to Earnings Ratio vs Peers

How does 1839's PE Ratio compare to its peers?

The above table shows the PE ratio for 1839 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	9.4x
3339 Lonking Holdings	7.3x	7.9%	HK$6.2b
631 Sany Heavy Equipment International Holdings	9.5x	23.6%	HK$15.7b
3808 Sinotruk (Hong Kong)	9.1x	11.9%	HK$60.6b
3898 Zhuzhou CRRC Times Electric	11.5x	13.3%	HK$60.9b
1839 CIMC Vehicles (Group)	6.2x	-6.5%	HK$19.2b

Price-To-Earnings vs Peers: 1839 is good value based on its Price-To-Earnings Ratio (6.2x) compared to the peer average (9.7x).

Price to Earnings Ratio vs Industry

How does 1839's PE Ratio compare vs other companies in the HK Machinery Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
2060 Pujiang International Group	1x	n/a	US$19.99m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 1839 is good value based on its Price-To-Earnings Ratio (6.2x) compared to the Hong Kong Machinery industry average (9.4x).

Price to Earnings Ratio vs Fair Ratio

What is 1839's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1839 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.2x
Fair PE Ratio	5.1x

Price-To-Earnings vs Fair Ratio: 1839 is expensive based on its Price-To-Earnings Ratio (6.2x) compared to the estimated Fair Price-To-Earnings Ratio (5.1x).

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.