Kingboard Laminates Holdings

SEHK:1888 Stock Report

Mkt Cap: HK$23.8b

We’ve recently updated our valuation analysis.

Kingboard Laminates Holdings Valuation

Is 1888 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 1888?

Other financial metrics that can be useful for relative valuation.

1888 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/Revenue0.8x
Enterprise Value/EBITDA2.8x
PEG Ratio-0.8x

Price to Earnings Ratio vs Peers

How does 1888's PE Ratio compare to its peers?

The above table shows the PE ratio for 1888 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.9x
148 Kingboard Holdings
3.2xn/aHK$26.1b
1415 Cowell e Holdings
22.3x32.0%HK$10.2b
6088 FIT Hon Teng
6.4x3.5%HK$10.6b
2382 Sunny Optical Technology (Group)
23.8x20.9%HK$95.2b
1888 Kingboard Laminates Holdings
4.5x-5.5%HK$23.8b

Price-To-Earnings vs Peers: 1888 is good value based on its Price-To-Earnings Ratio (4.5x) compared to the peer average (13.9x).


Price to Earnings Ratio vs Industry

How does 1888's PE Ratio compare vs other companies in the HK Electronic Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a16.7%
n/an/an/a

Price-To-Earnings vs Industry: 1888 is good value based on its Price-To-Earnings Ratio (4.5x) compared to the Hong Kong Electronic industry average (6.5x)


Price to Earnings Ratio vs Fair Ratio

What is 1888's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1888 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.5x
Fair PE Ratio5.9x

Price-To-Earnings vs Fair Ratio: 1888 is good value based on its Price-To-Earnings Ratio (4.5x) compared to the estimated Fair Price-To-Earnings Ratio (5.9x).


Share Price vs Fair Value

What is the Fair Price of 1888 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1888 (HK$7.62) is trading below our estimate of fair value (HK$67.33)

Significantly Below Fair Value: 1888 is trading below fair value by more than 20%.


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 1888 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$7.62
HK$7.05
-7.5%
6.4%HK$7.50HK$6.60n/a2
Nov ’23HK$6.58
HK$7.05
+7.1%
6.4%HK$7.50HK$6.60n/a2
Oct ’23HK$7.07
HK$7.05
-0.3%
6.4%HK$7.50HK$6.60n/a2
Sep ’23HK$7.62
HK$7.05
-7.5%
6.4%HK$7.50HK$6.60n/a2
Aug ’23HK$7.12
HK$8.30
+16.6%
9.6%HK$9.10HK$7.50n/a2
Jul ’23HK$9.68
HK$13.90
+43.6%
20.9%HK$16.80HK$11.00n/a2
Jun ’23HK$13.42
HK$17.20
+28.2%
2.3%HK$17.60HK$16.80n/a2
May ’23HK$12.20
HK$17.47
+43.2%
2.9%HK$18.00HK$16.80n/a3
Apr ’23HK$13.08
HK$17.47
+33.5%
2.9%HK$18.00HK$16.80n/a3
Mar ’23HK$13.12
HK$20.07
+52.9%
11.2%HK$23.20HK$18.00n/a3
Feb ’23HK$13.26
HK$20.07
+51.3%
11.2%HK$23.20HK$18.00n/a3
Jan ’23HK$13.26
HK$20.07
+51.3%
11.2%HK$23.20HK$18.00n/a3
Dec ’22HK$13.96
HK$20.07
+43.7%
11.2%HK$23.20HK$18.00n/a3
Nov ’22HK$12.06
HK$20.00
+65.8%
10.8%HK$23.00HK$18.00HK$6.583
Oct ’22HK$12.88
HK$22.29
+73.0%
13.7%HK$27.00HK$18.00HK$7.075
Sep ’22HK$14.88
HK$22.29
+49.8%
13.7%HK$27.00HK$18.00HK$7.625
Aug ’22HK$15.54
HK$22.89
+47.3%
14.9%HK$27.00HK$18.00HK$7.125
Jul ’22HK$17.42
HK$24.11
+38.4%
11.1%HK$27.00HK$20.13HK$9.684
Jun ’22HK$16.58
HK$24.11
+45.4%
11.1%HK$27.00HK$20.13HK$13.424
May ’22HK$19.42
HK$24.11
+24.2%
11.1%HK$27.00HK$20.13HK$12.204
Apr ’22HK$17.36
HK$22.32
+28.5%
9.8%HK$24.50HK$20.13HK$13.082
Mar ’22HK$14.14
HK$18.50
+30.8%
0%HK$18.50HK$18.50HK$13.121
Feb ’22HK$12.64
HK$18.50
+46.4%
0%HK$18.50HK$18.50HK$13.261
Jan ’22HK$12.66
HK$14.00
+10.6%
0%HK$14.00HK$14.00HK$13.261
Dec ’21HK$10.28
HK$11.54
+12.3%
0%HK$11.54HK$11.54HK$13.961
Nov ’21HK$12.34
HK$10.89
-11.8%
24.9%HK$13.60HK$8.18HK$12.062

Analyst Forecast: Target price is lower than the current share price.


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