Viva Goods Valuation

Is 933 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-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 933 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 933 (HK$0.59) is trading below our estimate of fair value (HK$2.09)

Significantly Below Fair Value: 933 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 933?

Key metric: As 933 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 933. This is calculated by dividing 933's market cap by their current revenue.
What is 933's PS Ratio?
PS Ratio	0.5x
Sales	HK$10.88b
Market Cap	HK$5.83b

933 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	0.8x
Enterprise Value/EBITDA	-70x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 933's PS Ratio compare to its peers?

The above table shows the PS ratio for 933 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	0.9x
1361 361 Degrees International	0.8x	13.4%	HK$7.9b
3306 JNBY Design	1.3x	7.7%	HK$7.5b
116 Chow Sang Sang Holdings International	0.2x	2.4%	HK$4.3b
1234 China Lilang	1.2x	10.1%	HK$4.6b
933 Viva Goods	0.5x	n/a	HK$5.7b

Price-To-Sales vs Peers: 933 is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (0.9x).

Price to Sales Ratio vs Industry

How does 933's PS Ratio compare vs other companies in the HK Luxury Industry?

21 Companies	Price / Sales	Estimated Growth	Market Cap
116 Chow Sang Sang Holdings International	0.2x	2.4%	US$552.50m
2678 Texhong International Group	0.1x	6.2%	US$467.07m
420 Fountain Set (Holdings)	0.2x	n/a	US$99.16m
458 Tristate Holdings	0.2x	n/a	US$87.91m

21 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 933 is good value based on its Price-To-Sales Ratio (0.5x) compared to the Hong Kong Luxury industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is 933'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.

933 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 933's Price-To-Sales Fair Ratio for valuation analysis.

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.