JNBY Design Valuation

Is 3306 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

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 3306 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3306 (HK$14.24) is trading below our estimate of fair value (HK$27.42)

Significantly Below Fair Value: 3306 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3306?

Key metric: As 3306 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3306. This is calculated by dividing 3306's market cap by their current earnings.
What is 3306's PE Ratio?
PE Ratio	7.9x
Earnings	CN¥849.09m
Market Cap	CN¥6.74b

3306 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	1.1x
Enterprise Value/EBITDA	4.4x
PEG Ratio	1x

Price to Earnings Ratio vs Peers

How does 3306's PE Ratio compare to its peers?

The above table shows the PE ratio for 3306 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	7.5x
1361 361 Degrees International	7x	13.0%	HK$7.9b
116 Chow Sang Sang Holdings International	5.9x	10.1%	HK$4.3b
1234 China Lilang	8.2x	11.8%	HK$4.7b
2232 Crystal International Group	8.9x	11.1%	HK$12.1b
3306 JNBY Design	7.9x	8.2%	HK$7.2b

Price-To-Earnings vs Peers: 3306 is expensive based on its Price-To-Earnings Ratio (7.9x) compared to the peer average (7.5x).

Price to Earnings Ratio vs Industry

How does 3306's PE Ratio compare vs other companies in the HK Luxury Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
8211 Zhejiang Yongan Rongtong Holdings	1x	n/a	US$5.47m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 3306 is good value based on its Price-To-Earnings Ratio (7.9x) compared to the Hong Kong Luxury industry average (8.4x).

Price to Earnings Ratio vs Fair Ratio

What is 3306'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.

3306 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.9x
Fair PE Ratio	7.9x

Price-To-Earnings vs Fair Ratio: 3306 is expensive based on its Price-To-Earnings Ratio (7.9x) compared to the estimated Fair Price-To-Earnings Ratio (7.9x).

Analyst Price Targets

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

The above table shows the analyst 3306 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	HK$14.24	HK$17.72 +24.4%	11.2%	HK$21.94	HK$15.12	n/a	10
Nov ’25	HK$14.82	HK$18.19 +22.7%	11.2%	HK$22.57	HK$15.55	n/a	10
Oct ’25	HK$16.16	HK$18.18 +12.5%	11.4%	HK$22.68	HK$15.53	n/a	10
Sep ’25	HK$13.44	HK$18.02 +34.1%	10.9%	HK$20.31	HK$14.89	n/a	11
Aug ’25	HK$12.64	HK$18.11 +43.2%	9.7%	HK$20.06	HK$15.10	n/a	10
Jul ’25	HK$15.22	HK$18.09 +18.9%	9.3%	HK$20.07	HK$15.10	n/a	11
Jun ’25	HK$14.60	HK$17.71 +21.3%	9.3%	HK$20.22	HK$15.22	n/a	10
May ’25	HK$14.30	HK$17.71 +23.9%	9.3%	HK$20.22	HK$15.22	n/a	10
Apr ’25	HK$14.70	HK$17.80 +21.1%	9.2%	HK$20.29	HK$15.27	n/a	10
Mar ’25	HK$14.54	HK$16.62 +14.3%	16.7%	HK$19.75	HK$11.85	n/a	8
Feb ’25	HK$10.24	HK$13.86 +35.4%	13.0%	HK$17.24	HK$11.90	n/a	7
Jan ’25	HK$10.50	HK$13.51 +28.7%	13.0%	HK$17.36	HK$11.98	n/a	7
Dec ’24	HK$9.57	HK$13.43 +40.3%	12.7%	HK$17.20	HK$12.16	n/a	7
Nov ’24	HK$9.74	HK$12.92 +32.7%	8.6%	HK$14.95	HK$11.96	HK$14.82	7
Oct ’24	HK$10.16	HK$13.02 +28.2%	8.1%	HK$15.01	HK$12.00	HK$16.16	8
Sep ’24	HK$8.09	HK$11.65 +44.0%	7.7%	HK$13.39	HK$10.38	HK$13.44	7
Aug ’24	HK$9.05	HK$11.62 +28.4%	7.8%	HK$13.47	HK$10.44	HK$12.64	7
Jul ’24	HK$8.49	HK$11.53 +35.8%	7.7%	HK$13.46	HK$10.43	HK$15.22	7
Jun ’24	HK$7.69	HK$11.75 +52.9%	8.3%	HK$13.81	HK$10.70	HK$14.60	7
May ’24	HK$8.63	HK$12.36 +43.2%	10.4%	HK$14.38	HK$11.01	HK$14.30	7
Apr ’24	HK$9.01	HK$12.27 +36.1%	9.9%	HK$14.36	HK$11.00	HK$14.70	8
Mar ’24	HK$9.77	HK$12.53 +28.2%	10.2%	HK$14.59	HK$11.11	HK$14.54	7
Feb ’24	HK$10.88	HK$12.76 +17.3%	11.4%	HK$14.93	HK$10.60	HK$10.24	7
Jan ’24	HK$9.33	HK$12.16 +30.4%	11.1%	HK$14.13	HK$10.03	HK$10.50	7
Dec ’23	HK$8.41	HK$12.16 +44.6%	11.1%	HK$14.13	HK$10.03	HK$9.57	7
Nov ’23	HK$6.40	HK$12.54 +95.9%	8.5%	HK$14.25	HK$11.33	HK$9.74	7

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.