Pacific Basin Shipping Valuation

Is 2343 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2343 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2343 (HK$1.88) is trading below our estimate of fair value (HK$10.9)

Significantly Below Fair Value: 2343 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2343?

Key metric: As 2343 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2343. This is calculated by dividing 2343's market cap by their current earnings.
What is 2343's PE Ratio?
PE Ratio	15.1x
Earnings	US$81.67m
Market Cap	US$1.23b

2343 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	0.5x
Enterprise Value/EBITDA	5.1x
PEG Ratio	0.4x

Price to Earnings Ratio vs Peers

How does 2343's PE Ratio compare to its peers?

The above table shows the PE ratio for 2343 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	19.3x
2510 T.S. Lines	42.8x	n/a	HK$6.9b
1308 SITC International Holdings	12.4x	6.3%	HK$55.2b
2409 Seacon Shipping Group Holdings	6.4x	n/a	HK$2.0b
1748 Xin Yuan Enterprises Group	15.5x	n/a	HK$1.6b
2343 Pacific Basin Shipping	15.1x	35.9%	HK$9.6b

Price-To-Earnings vs Peers: 2343 is good value based on its Price-To-Earnings Ratio (15.1x) compared to the peer average (19.3x).

Price to Earnings Ratio vs Industry

How does 2343's PE Ratio compare vs other companies in the Asian Shipping Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 2343 is expensive based on its Price-To-Earnings Ratio (15.1x) compared to the Asian Shipping industry average (9.9x).

Price to Earnings Ratio vs Fair Ratio

What is 2343'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.

2343 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.1x
Fair PE Ratio	12.3x

Price-To-Earnings vs Fair Ratio: 2343 is expensive based on its Price-To-Earnings Ratio (15.1x) compared to the estimated Fair Price-To-Earnings Ratio (12.3x).

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 2343 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	HK$1.88	HK$2.80 +48.8%	7.7%	HK$3.00	HK$2.41	n/a	8
Nov ’25	HK$2.18	HK$2.79 +28.2%	7.7%	HK$3.00	HK$2.40	n/a	8
Oct ’25	HK$2.47	HK$2.78 +12.6%	9.1%	HK$3.00	HK$2.25	n/a	8
Sep ’25	HK$2.15	HK$2.78 +29.3%	9.1%	HK$3.00	HK$2.25	n/a	8
Aug ’25	HK$2.37	HK$2.96 +24.7%	10.7%	HK$3.60	HK$2.35	n/a	8
Jul ’25	HK$2.46	HK$2.95 +19.7%	6.3%	HK$3.19	HK$2.55	n/a	8
Jun ’25	HK$2.75	HK$2.96 +7.7%	6.2%	HK$3.19	HK$2.54	n/a	8
May ’25	HK$2.72	HK$2.98 +9.4%	5.7%	HK$3.20	HK$2.60	n/a	8
Apr ’25	HK$2.26	HK$2.96 +31.0%	6.4%	HK$3.30	HK$2.60	n/a	8
Mar ’25	HK$2.38	HK$2.93 +23.2%	7.1%	HK$3.30	HK$2.60	n/a	8
Feb ’25	HK$2.24	HK$2.92 +30.2%	9.5%	HK$3.30	HK$2.30	n/a	8
Jan ’25	HK$2.57	HK$2.95 +14.8%	10.5%	HK$3.35	HK$2.30	n/a	8
Dec ’24	HK$2.42	HK$2.95 +21.9%	10.5%	HK$3.35	HK$2.30	n/a	8
Nov ’24	HK$2.23	HK$2.95 +32.3%	10.5%	HK$3.35	HK$2.30	HK$2.18	8
Oct ’24	HK$2.26	HK$3.01 +33.1%	8.7%	HK$3.35	HK$2.51	HK$2.47	8
Sep ’24	n/a	HK$3.19 0%	14.2%	HK$4.00	HK$2.52	HK$2.15	9
Aug ’24	n/a	HK$3.23 0%	13.4%	HK$4.00	HK$2.50	HK$2.37	9
Jul ’24	n/a	HK$3.51 0%	10.5%	HK$4.20	HK$3.10	HK$2.46	9
Jun ’24	n/a	HK$3.69 0%	12.0%	HK$4.60	HK$3.20	HK$2.75	9
May ’24	n/a	HK$3.69 0%	12.0%	HK$4.60	HK$3.20	HK$2.72	9
Apr ’24	n/a	HK$3.56 0%	15.6%	HK$4.75	HK$2.70	HK$2.26	9
Mar ’24	n/a	HK$3.56 0%	15.6%	HK$4.75	HK$2.70	HK$2.38	9
Feb ’24	n/a	HK$3.55 0%	19.6%	HK$5.18	HK$2.72	HK$2.24	9
Jan ’24	n/a	HK$4.16 0%	28.9%	HK$6.20	HK$2.71	HK$2.57	9
Dec ’23	n/a	HK$4.26 0%	26.0%	HK$6.18	HK$2.92	HK$2.42	9
Nov ’23	n/a	HK$4.40 0%	25.1%	HK$6.20	HK$3.30	HK$2.23	9

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.