Tongda Hong Tai Holdings Valuation

Q: What is the Fair Price of 2363 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2363 (HK$0.33) is trading above our estimate of [[fair value]] (HK$0.15)

Is 2363 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

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 2363 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2363 (HK$0.33) is trading above our estimate of fair value (HK$0.15)

Significantly Below Fair Value: 2363 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2363?

Key metric: As 2363 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2363. This is calculated by dividing 2363's market cap by their current revenue.
What is 2363's PS Ratio?
PS Ratio	1x
Sales	HK$65.60m
Market Cap	HK$67.39m

2363 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	0.9x
Enterprise Value/EBITDA	-5.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 2363's PS Ratio compare to its peers?

The above table shows the PS ratio for 2363 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	0.4x
515 China Silver Technology Holdings	0.4x	n/a	HK$63.5m
675 K & P International Holdings	0.5x	n/a	HK$96.1m
8375 Vertical International Holdings	0.7x	n/a	HK$61.9m
2323 Renco Holdings Group	0.2x	n/a	HK$39.7m
2363 Tongda Hong Tai Holdings	1x	n/a	HK$67.4m

Price-To-Sales vs Peers: 2363 is expensive based on its Price-To-Sales Ratio (1x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

How does 2363's PS Ratio compare vs other companies in the HK Electronic Industry?

13 Companies	Price / Sales	Estimated Growth	Market Cap
856 VSTECS Holdings	0.09x	9.2%	US$934.78m
1184 S.A.S. Dragon Holdings	0.1x	n/a	US$329.74m
3991 Changhong Jiahua Holdings	0.04x	n/a	US$198.20m
40 Gold Peak Technology Group	0.07x	n/a	US$61.18m

13 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 2363 is expensive based on its Price-To-Sales Ratio (1x) compared to the Hong Kong Electronic industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

What is 2363'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.

2363 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 2363'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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