Qunabox Group Valuation

Is 917 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: 917 (HK$58.4) is trading below our estimate of fair value (HK$169.79)

Significantly Below Fair Value: 917 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 917?

Key metric: As 917 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 917. This is calculated by dividing 917's market cap by their current revenue.
What is 917's PS Ratio?
PS Ratio	12.3x
Sales	CN¥1.16b
Market Cap	CN¥14.28b

917 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	11.8x
Enterprise Value/EBITDA	53.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 917's PS Ratio compare to its peers?

The above table shows the PS ratio for 917 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	5.3x
2550 Easou Technology Holdings	7x	n/a	HK$4.4b
1860 Mobvista	1.3x	21.7%	HK$13.1b
752 Pico Far East Holdings	0.4x	n/a	HK$2.2b
2405 Powerwin Tech Group	12.6x	n/a	HK$2.0b
917 Qunabox Group	12.3x	n/a	HK$15.3b

Price-To-Sales vs Peers: 917 is expensive based on its Price-To-Sales Ratio (12.3x) compared to the peer average (5.3x).

Price to Sales Ratio vs Industry

How does 917's PS Ratio compare vs other companies in the HK Media Industry?

6 Companies	Price / Sales	Estimated Growth	Market Cap
1948 Uju Holding	0.08x	n/a	US$75.91m
2131 Netjoy Holdings	0.1x	n/a	US$51.08m
6988 Joy Spreader Group	0.09x	60.5%	US$34.13m
6696 Many Idea Cloud Holdings	0.1x	n/a	US$29.35m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 917 is expensive based on its Price-To-Sales Ratio (12.3x) compared to the Hong Kong Media industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is 917'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.

917 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	12.3x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 917'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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