Company Valuation: APAC Resources Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026
Market Cap 1 1,560 1,602 1,407 1,424 1,733 2,046
Change - 2.66% -12.17% 1.26% 21.66% 18.08%
Enterprise Value (EV) 1 -84.7 124.4 152.6 -661.6 -365.9 -1,550
Change - 246.85% 22.69% -533.56% 44.7% -323.51%
P/E 1.15x -3.33x -4.42x 3.57x 6.97x 1.24x
PBR 0.32x 0.4x 0.4x 0.37x 0.43x 0.36x
PEG - 0x 0.1x -0x -0.2x 0x
Capitalization / Revenue 2.76x 4.59x 3.26x 1.2x 4.91x 2.75x
EV / Revenue -0.15x 0.36x 0.35x -0.56x -1.04x -2.08x
EV / EBITDA 10.3x 6.32x -2.45x 102x 4.29x 5.46x
EV / EBIT 9.81x 6.5x -2.42x 87.9x 4.28x 5.45x
EV / FCF 0.67x 0.53x -1.01x -4.78x 1.55x -
FCF Yield 149% 189% -99% -20.9% 64.4% -
Dividend per Share 2 0.1 0.1 0.1 0.1 0.11 0.12
Rate of return 7.81% 8.13% 9.26% 9.52% 8.94% 8.76%
EPS 2 1.113 -0.3695 -0.2446 0.2939 0.1764 1.107
Distribution rate 8.98% -27.1% -40.9% 34% 62.4% 10.8%
Net sales 1 564.6 348.7 431.9 1,189 353.1 744.7
EBITDA 1 -8.195 19.67 -62.32 -6.494 -85.26 -283.9
EBIT 1 -8.635 19.14 -63.14 -7.527 -85.55 -284.2
Net income 1 1,357 -466 -318.5 390 243.9 1,711
Net Debt 1 -1,645 -1,477 -1,254 -2,086 -2,099 -3,596
Reference price 2 1.280 1.230 1.080 1.050 1.230 1.370
Nbr of stocks (in thousands) 1,218,894 1,302,130 1,302,486 1,356,637 1,408,971 1,493,753
Announcement Date 10/27/21 10/26/22 10/25/23 10/24/24 10/23/25 9/23/26
1HKD in Million2HKD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 410M
12.78x - - - 1.02B
8.58x - - - 653M
15.45x0.3x5.04x0.97% 479M
Average 12.27x 0.30x 5.04x 0.97% 640.21M
Weighted average by Cap. 12.10x 0.30x 5.04x 0.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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