China Merchants Land Valuation
Is 978 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation 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 978 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 978 (HK$0.25) is trading above our estimate of fair value (HK$0.13)
Significantly Below Fair Value: 978 is trading above our estimate of fair value.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 978?
Key metric: As 978 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is 978's PS Ratio? | |
|---|---|
| PS Ratio | 0.05x |
| Sales | CN¥24.23b |
| Market Cap | CN¥1.12b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 2.3x |
| Enterprise Value/EBITDA | 44.4x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does 978's PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 2.3x | ||
230 Minmetals Land | 0.1x | n/a | HK$1.1b |
169 Wanda Hotel Development | 1.1x | n/a | HK$1.1b |
93 Zero Fintech Group | 7.2x | n/a | HK$1.6b |
160 Hon Kwok Land Investment Company | 0.8x | n/a | HK$864.5m |
978 China Merchants Land | 0.05x | n/a | HK$1.2b |
Price-To-Sales vs Peers: 978 is good value based on its Price-To-Sales Ratio (0x) compared to the peer average (2.3x).
Price to Sales Ratio vs Industry
How does 978's PS Ratio compare vs other companies in the HK Real Estate Industry?
| 89 Companies | Price / Sales | Estimated Growth | Market Cap |
|---|---|---|---|
| Industry Avg. | 0.6x | 4.7% | |
978 China Merchants Land | 0.05x | n/a | US$154.39m |
1908 C&D International Investment Group | 0.2x | 3.1% | US$3.29b |
3900 Greentown China Holdings | 0.1x | -0.4% | US$2.97b |
| 89 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
| Industry Avg. | 0.6x | 21.1% | |
978 China Merchants Land | 0.05x | n/a | US$154.39m |
Price-To-Sales vs Industry: 978 is good value based on its Price-To-Sales Ratio (0x) compared to the Hong Kong Real Estate industry average (0.6x).
Price to Sales Ratio vs Fair Ratio
What is 978'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.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 0.05x |
| Fair PS Ratio | n/a |
Price-To-Sales vs Fair Ratio: Insufficient data to calculate 978'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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