Ying Li International Real Estate Valuation

Q: What is the Fair Price of 5DM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

5DM (SGD0.04) is trading below our estimate of [[fair value]] (SGD0.11)

Is 5DM 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-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 5DM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 5DM (SGD0.04) is trading below our estimate of fair value (SGD0.11)

Significantly Below Fair Value: 5DM is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 5DM?

Key metric: As 5DM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 5DM. This is calculated by dividing 5DM's market cap by their current revenue.
What is 5DM's PS Ratio?
PS Ratio	2.3x
Sales	CN¥212.89m
Market Cap	CN¥494.89m

5DM 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	12.4x
Enterprise Value/EBITDA	60.3x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 5DM's PS Ratio compare to its peers?

The above table shows the PS ratio for 5DM 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	4x
40V Alset International	11.7x	n/a	S$97.8m
P36 Pan Hong Holdings Group	1.2x	n/a	S$49.2m
1F3 Aspen (Group) Holdings	0.7x	n/a	S$49.8m
5PC Goodland Group	2.6x	n/a	S$42.0m
5DM Ying Li International Real Estate	2.3x	n/a	S$92.1m

Price-To-Sales vs Peers: 5DM is good value based on its Price-To-Sales Ratio (2.3x) compared to the peer average (4x).

Price to Sales Ratio vs Industry

How does 5DM's PS Ratio compare vs other companies in the SG Real Estate Industry?

3 Companies	Price / Sales	Estimated Growth	Market Cap
Z25 Yanlord Land Group	0.1x	-16.9%	US$917.45m
CLN APAC Realty	0.2x	9.0%	US$103.97m
BCD China Yuanbang Property Holdings	0.3x	n/a	US$7.84m

No more companies available in this PS range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 5DM is good value based on its Price-To-Sales Ratio (2.3x) compared to the SG Real Estate industry average (2.5x).

Price to Sales Ratio vs Fair Ratio

What is 5DM'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.

5DM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.3x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 5DM'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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