We’ve recently updated our valuation analysis.

Meituan Valuation

Is 3690 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3690?

Other financial metrics that can be useful for relative valuation.

3690 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/Revenue3.7x
Enterprise Value/EBITDA-58.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does 3690's PS Ratio compare to its peers?

The above table shows the PS ratio for 3690 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average3.7x
6618 JD Health International
5x23.8%HK$208.0b
241 Alibaba Health Information Technology
3.3x18.3%HK$75.2b
1833 Ping An Healthcare and Technology
2.8x17.1%HK$19.6b
9886 Dingdang Health Technology Group
3.6x30.1%HK$15.7b
3690 Meituan
4x20.7%HK$845.4b

Price-To-Sales vs Peers: 3690 is expensive based on its Price-To-Sales Ratio (4x) compared to the peer average (3.7x).


Price to Earnings Ratio vs Industry

How does 3690's PE Ratio compare vs other companies in the Asian Online Retail Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a58.2%
n/an/an/a

Price-To-Sales vs Industry: 3690 is expensive based on its Price-To-Sales Ratio (4x) compared to the Asian Online Retail industry average (1.3x)


Price to Sales Ratio vs Fair Ratio

What is 3690'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.

3690 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4x
Fair PS Ratio2.3x

Price-To-Sales vs Fair Ratio: 3690 is expensive based on its Price-To-Sales Ratio (4x) compared to the estimated Fair Price-To-Sales Ratio (2.3x).


Share Price vs Fair Value

What is the Fair Price of 3690 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3690 (HK$136.6) is trading below our estimate of fair value (HK$155.31)

Significantly Below Fair Value: 3690 is trading below fair value, but not by a significant amount.


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 3690 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$136.60
HK$229.14
+67.7%
16.2%HK$302.29HK$126.29n/a41
Nov ’23HK$139.60
HK$230.24
+64.9%
17.1%HK$314.66HK$125.14n/a41
Oct ’23HK$165.60
HK$240.66
+45.3%
14.2%HK$320.18HK$159.15n/a40
Sep ’23HK$178.70
HK$245.02
+37.1%
15.9%HK$326.44HK$138.22n/a41
Aug ’23HK$180.00
HK$238.09
+32.3%
15.9%HK$326.61HK$141.57n/a41
Jul ’23HK$194.20
HK$236.26
+21.7%
15.8%HK$321.17HK$141.10n/a41
Jun ’23HK$182.50
HK$226.02
+23.8%
21.2%HK$325.60HK$141.29n/a40
May ’23HK$172.00
HK$226.49
+31.7%
24.7%HK$357.23HK$101.47n/a40
Apr ’23HK$155.50
HK$237.73
+52.9%
24.9%HK$371.66HK$105.57n/a41
Mar ’23HK$173.40
HK$300.53
+73.3%
17.2%HK$437.49HK$150.63n/a40
Feb ’23HK$219.60
HK$306.01
+39.3%
14.3%HK$436.05HK$189.77n/a38
Jan ’23HK$225.40
HK$308.14
+36.7%
15.3%HK$437.28HK$152.89n/a39
Dec ’22HK$244.60
HK$310.29
+26.9%
14.1%HK$435.89HK$152.40n/a38
Nov ’22HK$267.40
HK$321.80
+20.3%
14.2%HK$437.69HK$151.27HK$139.6037
Oct ’22HK$246.60
HK$318.85
+29.3%
15.2%HK$434.01HK$150.00HK$165.6038
Sep ’22HK$253.40
HK$323.99
+27.9%
15.5%HK$434.81HK$149.93HK$178.7035
Aug ’22HK$215.00
HK$352.42
+63.9%
18.6%HK$541.03HK$149.82HK$180.0036
Jul ’22HK$320.40
HK$359.29
+12.1%
16.7%HK$540.96HK$149.80HK$194.2038
Jun ’22HK$313.00
HK$362.68
+15.9%
16.2%HK$543.75HK$152.95HK$182.5039
May ’22HK$298.00
HK$393.46
+32.0%
13.4%HK$550.21HK$301.14HK$172.0037
Apr ’22HK$325.80
HK$388.25
+19.2%
18.3%HK$546.62HK$132.67HK$155.5035
Mar ’22HK$366.80
HK$405.07
+10.4%
21.5%HK$549.35HK$134.13HK$173.4035
Feb ’22HK$391.00
HK$375.67
-3.9%
18.5%HK$543.48HK$134.04HK$219.6035
Jan ’22HK$294.60
HK$330.86
+12.3%
13.7%HK$399.83HK$132.54HK$225.4034
Dec ’21HK$289.20
HK$316.27
+9.4%
17.2%HK$387.35HK$131.89HK$244.6033
Nov ’21HK$288.20
HK$286.02
-0.8%
16.4%HK$380.65HK$129.61HK$267.4033

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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