Company Valuation: Able Engineering Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 850 720 740 800 1,100 1,120
Change - -15.29% 2.78% 8.11% 37.5% 1.82%
Enterprise Value (EV) 1 790.8 -74.76 -365.6 -802.4 -557 -1,565
Change - -109.45% -389.05% -119.47% 30.58% -180.97%
P/E 8.98x 5.86x 4.25x 3.9x 4.81x 3.89x
PBR 0.63x 0.51x 0.49x 0.49x 0.63x 0.58x
PEG - 0.2x 0.1x 0.2x 0.4x 0.2x
Capitalization / Revenue 0.23x 0.13x 0.15x 0.15x 0.14x 0.12x
EV / Revenue 0.21x -0.01x -0.07x -0.15x -0.07x -0.17x
EV / EBITDA 9.59x -0.45x -1.58x -3.28x -1.1x -4.49x
EV / EBIT 9.66x -0.45x -1.58x -3.4x -1.13x -4.65x
EV / FCF -1.72x -0.09x -0.64x -1.52x -3.26x -1.36x
FCF Yield -58.2% -1,079% -156% -65.8% -30.7% -73.3%
Dividend per Share 2 0.025 0.035 0.05 0.05 0.06 0.03
Rate of return 5.88% 9.72% 13.5% 12.5% 10.9% 5.36%
EPS 2 0.0474 0.0614 0.087 0.1024 0.1143 0.1438
Distribution rate 52.8% 57% 57.4% 48.8% 52.5% 20.9%
Net sales 1 3,705 5,578 5,079 5,512 7,969 9,177
EBITDA 1 82.44 167 231.8 244.3 504.2 348.8
EBIT 1 81.85 166.4 231.3 235.8 494.4 336.5
Net income 1 94.7 122.9 174.1 204.9 228.6 287.6
Net Debt 1 -59.16 -794.8 -1,106 -1,602 -1,657 -2,685
Reference price 2 0.4250 0.3600 0.3700 0.4000 0.5500 0.5600
Nbr of stocks (in thousands) 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
Announcement Date 7/27/21 7/25/22 7/27/23 7/19/24 7/25/25 7/24/26
1HKD in Million2HKD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 93.07M
55.55x2.56x24.44x0.07% 95.45B
12.36x1.06x5.79x4.73% 70.02B
33.46x4.2x22.82x0.2% 57.13B
26.01x2x19.7x1.14% 56.41B
51.4x4.07x25.79x1.9% 39.78B
27.66x0.7x11.44x2.23% 34.07B
23.1x1.58x14.53x0.2% 33.16B
22.33x0.45x7.09x2.71% 29.31B
4.96x0.31x5.79x5.92% 26.35B
Average 28.54x 1.88x 15.27x 2.12% 44.18B
Weighted average by Cap. 31.89x 2.11x 16.78x 1.83%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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