LHN Logistics (Catalist:GIH) - Share price, News & Analysis

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

GIH (SGD0.16) is trading below our estimate of [[fair value]] (SGD3.1)

GIH fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	6/6
Past Performance	2/6
Financial Health	3/6
Dividends	0/6

GIH Stock Overview

LHN Logistics Limited, an investment holding company, provides logistic management solutions in Singapore, Malaysia, and Thailand.

Rewards

Trading at 94.9% below our estimate of its fair value

Earnings are forecast to grow 29.59% per year

Revenue grew by 4.2% over the past year

Risk Analysis

Has a high level of debt

Does not have a meaningful market cap (SGD26M)

LHN Logistics Competitors

SBS Transit

SGX:S61

S$882.6m

ComfortDelGro

SGX:C52

S$3.1b

A-Sonic Aerospace

SGX:BTJ

S$50.1m

Vibrant Group

SGX:BIP

S$58.9m

Price History & Performance

Summary of all time highs, changes and price drops for LHN Logistics
Historical stock prices
Current Share Price	S$0.16
52 Week High	S$0.21
52 Week Low	S$0.14
Beta	0
1 Month Change	6.04%
3 Month Change	5.33%
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-14.60%

Shareholder Returns

	GIH	SG Transportation	SG Market
7D	-1.3%	0.5%	0.8%
1Y	n/a	-0.1%	-0.6%

Return vs Industry: Insufficient data to determine how GIH performed against the SG Transportation industry.

Return vs Market: Insufficient data to determine how GIH performed against the SG Market.

Price Volatility

Is GIH's price volatile compared to industry and market?
GIH volatility
GIH Average Weekly Movement	6.9%
Transportation Industry Average Movement	4.0%
Market Average Movement	4.8%
10% most volatile stocks in SG Market	12.4%
10% least volatile stocks in SG Market	2.2%

Stable Share Price: GIH is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: Insufficient data to determine GIH's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2003	163	n/a	https://www.lhnlogistics.com

LHN Logistics Limited, an investment holding company, provides logistic management solutions in Singapore, Malaysia, and Thailand. The company operates through two segments, Transportation Business and Container Depot Services Business. The Transportation Business segment provides tank and container transportation services for various petrochemical products, base oils, bitumen, and bulk cargo to its customers in Singapore.

LHN Logistics Fundamentals Summary

How do LHN Logistics's earnings and revenue compare to its market cap?
GIH fundamental statistics
Market Cap	S$26.49m
Earnings (TTM)	S$2.62m
Revenue (TTM)	S$27.27m

10.1x

P/E Ratio

1.0x

P/S Ratio

Is GIH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GIH income statement (TTM)
Revenue	S$27.27m
Cost of Revenue	S$18.41m
Gross Profit	S$8.87m
Other Expenses	S$6.25m
Earnings	S$2.62m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.016
Gross Margin	32.51%
Net Profit Margin	9.60%
Debt/Equity Ratio	69.3%

How did GIH perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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 GIH?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for GIH. This is calculated by dividing GIH's market cap by their current preferred multiple.
What is GIH's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	S$26.49m

GIH 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	1.6x
Enterprise Value/EBITDA	8x
PEG Ratio	0.3x

Price to Earnings Ratio vs Peers

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

GIH PE Ratio vs Peers

The above table shows the PE ratio for GIH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	13.3x
S61 SBS Transit	17.1x	16.7%	S$882.6m
C52 ComfortDelGro	24.2x	17.6%	S$3.1b
BTJ A-Sonic Aerospace	5.5x	n/a	S$50.1m
BIP Vibrant Group	6.3x	n/a	S$58.9m
GIH LHN Logistics	10.1x	29.6%	S$26.5m

Price-To-Earnings vs Peers: GIH is good value based on its Price-To-Earnings Ratio (10.1x) compared to the peer average (13.3x).

Price to Earnings Ratio vs Industry

How does GIH's PE Ratio compare vs other companies in the Asian Transportation Industry?

Price-To-Earnings vs Industry: GIH is good value based on its Price-To-Earnings Ratio (10.1x) compared to the Asian Transportation industry average (17.9x)

Price to Earnings Ratio vs Fair Ratio

What is GIH'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.

GIH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate GIH's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

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

Below Fair Value: GIH (SGD0.16) is trading below our estimate of fair value (SGD3.1)

Significantly Below Fair Value: GIH 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?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is LHN Logistics forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

6/6

Future Growth Score 6/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

29.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GIH's forecast earnings growth (29.6% per year) is above the savings rate (1.8%).

Earnings vs Market: GIH's earnings (29.6% per year) are forecast to grow faster than the SG market (13.2% per year).

High Growth Earnings: GIH's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GIH's revenue (22.3% per year) is forecast to grow faster than the SG market (8% per year).

High Growth Revenue: GIH's revenue (22.3% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GIH's Return on Equity is forecast to be high in 3 years time (20.5%)

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Past Performance

How has LHN Logistics performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-15.2%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: GIH has high quality earnings.

Growing Profit Margin: GIH's current net profit margins (9.6%) are lower than last year (11.8%).

Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if GIH's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: GIH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: GIH had negative earnings growth (-15.2%) over the past year, making it difficult to compare to the Transportation industry average (15.2%).

Return on Equity

High ROE: GIH's Return on Equity (21.4%) is considered high.

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Financial Health

How is LHN Logistics's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: GIH's short term assets (SGD12.2M) exceed its short term liabilities (SGD7.7M).

Long Term Liabilities: GIH's short term assets (SGD12.2M) do not cover its long term liabilities (SGD15.2M).

Debt to Equity History and Analysis

Debt Level: GIH's net debt to equity ratio (42.4%) is considered high.

Reducing Debt: Insufficient data to determine if GIH's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: GIH's debt is well covered by operating cash flow (54.7%).

Interest Coverage: GIH's interest payments on its debt are well covered by EBIT (6.8x coverage).

Balance Sheet

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Dividend

What is LHN Logistics's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

5.27%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate GIH's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GIH's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GIH's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GIH's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GIH has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

0.4yrs

Average board tenure

CEO

LHN Logistics has no CEO, or we have no data on them.

Board Members

Experienced Board: GIH's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: GIH only recently listed within the past 12 months.

Data	Last Updated (UTC time)
Company Analysis	2022/08/09 00:00
End of Day Share Price	2022/08/03 00:00
Earnings	2022/03/31
Annual Earnings	2021/09/30