Budweiser Brewing Company APAC Limited

SZSC:1876 Stock Report

Market Cap: HK$95.7b

Budweiser Brewing Company APAC Valuation

Is 1876 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 1876 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1876 (HK$7.26) is trading below our estimate of fair value (HK$27.84)

Significantly Below Fair Value: 1876 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1876?

Key metric: As 1876 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1876. This is calculated by dividing 1876's market cap by their current earnings.
What is 1876's PE Ratio?
PE Ratio17.1x
EarningsUS$719.00m
Market CapUS$12.31b

Price to Earnings Ratio vs Peers

How does 1876's PE Ratio compare to its peers?

The above table shows the PE ratio for 1876 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.9x
168 Tsingtao Brewery
13.8x7.4%HK$84.2b
291 China Resources Beer (Holdings)
14.8x10.4%HK$82.9b
288 WH Group
11.6x7.7%HK$89.2b
2460 China Resources Beverage (Holdings)
19.3xn/aHK$27.6b
1876 Budweiser Brewing Company APAC
17.1x14.3%HK$95.7b

Price-To-Earnings vs Peers: 1876 is expensive based on its Price-To-Earnings Ratio (17.1x) compared to the peer average (14.9x).

Price to Earnings Ratio vs Industry

How does 1876's PE Ratio compare vs other companies in the Asian Beverage Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
1876 17.1xIndustry Avg. 18.7xNo. of Companies26PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1876 is good value based on its Price-To-Earnings Ratio (17.1x) compared to the Asian Beverage industry average (18.7x).

Price to Earnings Ratio vs Fair Ratio

What is 1876'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.

1876 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.1x
Fair PE Ratio19.1x

Price-To-Earnings vs Fair Ratio: 1876 is good value based on its Price-To-Earnings Ratio (17.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.1x).

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 1876 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$7.26
HK$11.87
+63.5%
25.7%HK$19.83HK$8.01n/a27
Nov ’25HK$7.97
HK$12.09
+51.7%
24.1%HK$19.81HK$8.00n/a27
Oct ’25HK$10.46
HK$12.98
+24.1%
22.2%HK$19.80HK$8.68n/a27
Sep ’25HK$8.96
HK$13.15
+46.8%
21.8%HK$19.74HK$8.68n/a27
Aug ’25HK$9.39
HK$13.75
+46.5%
20.9%HK$19.78HK$8.70n/a27
Jul ’25HK$9.20
HK$15.11
+64.2%
18.6%HK$19.98HK$9.20n/a27
Jun ’25HK$9.88
HK$16.11
+63.1%
20.3%HK$26.66HK$11.01n/a27
May ’25HK$11.00
HK$17.08
+55.3%
19.7%HK$26.72HK$11.01n/a27
Apr ’25HK$11.52
HK$17.24
+49.7%
18.1%HK$26.68HK$11.49n/a27
Mar ’25HK$12.92
HK$18.12
+40.3%
18.9%HK$26.70HK$11.50n/a27
Feb ’25HK$12.66
HK$19.94
+57.5%
16.4%HK$26.67HK$11.50n/a26
Jan ’25HK$14.62
HK$21.69
+48.3%
14.5%HK$26.96HK$13.97n/a26
Dec ’24HK$13.66
HK$21.88
+60.2%
14.5%HK$27.01HK$14.00n/a26
Nov ’24HK$14.96
HK$22.59
+51.0%
12.7%HK$28.05HK$16.90HK$7.9726
Oct ’24HK$15.46
HK$24.35
+57.5%
12.1%HK$30.49HK$18.64HK$10.4626
Sep ’24HK$17.00
HK$24.85
+46.2%
12.4%HK$30.52HK$18.66HK$8.9627
Aug ’24HK$18.68
HK$26.77
+43.3%
7.8%HK$30.27HK$20.90HK$9.3927
Jul ’24HK$20.20
HK$27.38
+35.5%
7.4%HK$31.49HK$21.02HK$9.2027
Jun ’24HK$19.38
HK$27.86
+43.8%
7.7%HK$31.45HK$21.01HK$9.8827
May ’24HK$22.60
HK$28.20
+24.8%
7.6%HK$31.50HK$21.00HK$11.0026
Apr ’24HK$23.95
HK$28.14
+17.5%
7.7%HK$31.50HK$21.00HK$11.5226
Mar ’24HK$25.15
HK$27.55
+9.5%
11.4%HK$32.15HK$19.99HK$12.9226
Feb ’24HK$24.75
HK$27.24
+10.1%
12.2%HK$32.42HK$19.97HK$12.6626
Jan ’24HK$24.55
HK$26.27
+7.0%
13.1%HK$32.28HK$18.10HK$14.6227
Dec ’23HK$23.45
HK$25.26
+7.7%
14.7%HK$31.54HK$18.04HK$13.6626
Nov ’23HK$17.60
HK$25.19
+43.1%
15.3%HK$31.63HK$18.20HK$14.9626

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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