Tingyi (Cayman Islands) Holding Corp.

SHSC:322 Stock Report

Market Cap: HK$56.7b

Tingyi (Cayman Islands) Holding Valuation

Is 322 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: 322 (HK$10.06) is trading below our estimate of fair value (HK$25.92)

Significantly Below Fair Value: 322 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 322?

Key metric: As 322 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 322. This is calculated by dividing 322's market cap by their current earnings.
What is 322's PE Ratio?
PE Ratio15.7x
EarningsCN¥3.37b
Market CapCN¥52.77b

Price to Earnings Ratio vs Peers

How does 322's PE Ratio compare to its peers?

The above table shows the PE ratio for 322 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.8x
2319 China Mengniu Dairy
14.3x10.8%HK$65.0b
151 Want Want China Holdings
12.6x5.0%HK$54.0b
6186 China Feihe
12.7x7.6%HK$48.6b
288 WH Group
11.6x7.7%HK$89.2b
322 Tingyi (Cayman Islands) Holding
15.7x9.1%HK$56.7b

Price-To-Earnings vs Peers: 322 is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the peer average (12.8x).

Price to Earnings Ratio vs Industry

How does 322's PE Ratio compare vs other companies in the HK Food Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
809 Global Bio-chem Technology Group
0.2xn/aUS$96.09m
3889 Global Sweeteners Holdings
2.4xn/aUS$28.67m
No more companies available in this PE range
322 15.7xIndustry Avg. 14.0xNo. of Companies8PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 322 is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the Hong Kong Food industry average (14x).

Price to Earnings Ratio vs Fair Ratio

What is 322'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.

322 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.7x
Fair PE Ratio16.5x

Price-To-Earnings vs Fair Ratio: 322 is good value based on its Price-To-Earnings Ratio (15.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.5x).

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 322 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$10.06
HK$11.67
+16.0%
10.4%HK$13.99HK$8.43n/a22
Nov ’25HK$11.46
HK$11.82
+3.1%
10.1%HK$13.71HK$8.57n/a22
Oct ’25HK$11.22
HK$11.87
+5.8%
9.5%HK$13.81HK$8.70n/a22
Sep ’25HK$10.48
HK$11.71
+11.7%
9.2%HK$13.72HK$8.64n/a22
Aug ’25HK$9.48
HK$11.24
+18.6%
10.7%HK$13.50HK$8.10n/a22
Jul ’25HK$9.41
HK$10.90
+15.9%
12.9%HK$13.40HK$8.00n/a22
Jun ’25HK$9.55
HK$10.86
+13.7%
13.5%HK$13.43HK$7.96n/a22
May ’25HK$8.67
HK$10.94
+26.2%
14.0%HK$13.48HK$7.99n/a21
Apr ’25HK$8.58
HK$11.41
+33.0%
17.8%HK$15.85HK$8.00n/a22
Mar ’25HK$8.72
HK$11.96
+37.2%
20.2%HK$15.92HK$7.97n/a23
Feb ’25HK$7.83
HK$12.18
+55.6%
19.8%HK$16.02HK$8.02n/a23
Jan ’25HK$9.52
HK$14.03
+47.4%
14.1%HK$17.44HK$8.49n/a23
Dec ’24HK$9.63
HK$14.04
+45.8%
12.5%HK$17.33HK$10.27n/a23
Nov ’24HK$10.44
HK$13.99
+34.0%
12.6%HK$16.95HK$10.04HK$11.4623
Oct ’24HK$10.94
HK$14.19
+29.7%
11.8%HK$16.96HK$10.05HK$11.2223
Sep ’24HK$11.52
HK$14.30
+24.1%
10.0%HK$17.07HK$11.68HK$10.4824
Aug ’24HK$11.66
HK$14.56
+24.9%
10.0%HK$17.80HK$11.71HK$9.4823
Jul ’24HK$12.18
HK$14.69
+20.6%
9.9%HK$17.78HK$11.21HK$9.4123
Jun ’24HK$11.60
HK$14.92
+28.6%
10.0%HK$18.00HK$11.48HK$9.5523
May ’24HK$13.68
HK$15.38
+12.4%
9.6%HK$18.05HK$11.81HK$8.6723
Apr ’24HK$13.08
HK$15.53
+18.7%
9.8%HK$18.12HK$11.86HK$8.5823
Mar ’24HK$12.98
HK$15.17
+16.9%
11.0%HK$17.93HK$12.13HK$8.7223
Feb ’24HK$12.94
HK$15.62
+20.7%
11.2%HK$18.43HK$12.46HK$7.8323
Jan ’24HK$13.78
HK$15.01
+8.9%
11.8%HK$18.04HK$12.04HK$9.5223
Dec ’23HK$12.44
HK$14.65
+17.8%
12.2%HK$17.84HK$11.69HK$9.6323
Nov ’23HK$12.56
HK$14.91
+18.7%
11.5%HK$19.26HK$11.75HK$10.4423

Analyst Forecast: Target price is less than 20% higher than the current share price.

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