Tian Chang Group Holdings Valuation

Is 2182 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 2182 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2182 (HK$0.36) is trading below our estimate of fair value (HK$0.86)

Significantly Below Fair Value: 2182 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2182?

Key metric: As 2182 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2182. This is calculated by dividing 2182's market cap by their current revenue.
What is 2182's PS Ratio?
PS Ratio	0.4x
Sales	HK$524.29m
Market Cap	HK$220.10m

2182 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	0.3x
Enterprise Value/EBITDA	5.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 2182's PS Ratio compare to its peers?

The above table shows the PS ratio for 2182 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	3.7x
8073 China Shuifa Singyes New Materials Holdings	1.5x	n/a	HK$166.4m
1047 Ngai Hing Hong	0.09x	n/a	HK$120.0m
2116 Jiangsu Innovative Ecological New Materials	1.1x	n/a	HK$180.0m
8349 Yunhong Guixin Group Holdings	12.2x	n/a	HK$500.0m
2182 Tian Chang Group Holdings	0.4x	n/a	HK$220.1m

Price-To-Sales vs Peers: 2182 is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (3.7x).

Price to Sales Ratio vs Industry

How does 2182's PS Ratio compare vs other companies in the HK Chemicals Industry?

2 Companies	Price / Sales	Estimated Growth	Market Cap
827 Ko Yo Chemical (Group)	0.08x	n/a	US$34.08m
1047 Ngai Hing Hong	0.09x	n/a	US$15.42m

No more companies available in this PS range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 2182 is good value based on its Price-To-Sales Ratio (0.4x) compared to the Hong Kong Chemicals industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is 2182'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.

2182 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 2182'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.

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