Symphony Holdings Limited

SEHK:1223 Stock Report

Market Cap: HK$2.4b

Symphony Holdings Valuation

Is 1223 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 1223 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1223 (HK$0.8) is trading below our estimate of fair value (HK$1.53)

Significantly Below Fair Value: 1223 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1223?

Key metric: As 1223 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 1223. This is calculated by dividing 1223's market cap by their current revenue.
What is 1223's PS Ratio?
PS Ratio7.9x
SalesHK$301.82m
Market CapHK$2.38b

Price to Sales Ratio vs Peers

How does 1223's PS Ratio compare to its peers?

The above table shows the PS ratio for 1223 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.6x
2420 Zibuyu Group
0.7x8.9%HK$2.4b
3813 Pou Sheng International (Holdings)
0.1x5.4%HK$2.9b
709 Giordano International
0.7x4.0%HK$2.7b
113 Dickson Concepts (International)
0.7xn/aHK$1.7b
1223 Symphony Holdings
7.9xn/aHK$2.4b

Price-To-Sales vs Peers: 1223 is expensive based on its Price-To-Sales Ratio (7.9x) compared to the peer average (0.6x).


Price to Sales Ratio vs Industry

How does 1223's PS Ratio compare vs other companies in the HK Specialty Retail Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
3669 China Yongda Automobiles Services Holdings
0.05x-1.6%US$506.69m
3836 China Harmony Auto Holding
0.06x13.2%US$140.91m
6188 Beijing Digital Telecom
0.04xn/aUS$99.09m
2337 United Strength Power Holdings
0.08xn/aUS$86.13m
1223 7.9xIndustry Avg. 0.4xNo. of Companies14PS00.40.81.21.62+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 1223 is expensive based on its Price-To-Sales Ratio (7.9x) compared to the Hong Kong Specialty Retail industry average (0.4x).


Price to Sales Ratio vs Fair Ratio

What is 1223'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.

1223 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.9x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 1223'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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