Company Valuation: APAC Resources Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2020 2021 2022 2023 2024 2025
Market Cap 1 1,024 1,560 1,602 1,407 1,424 1,733
Change - 52.38% 2.66% -12.17% 1.26% 21.66%
Enterprise Value (EV) 1 -176.1 -84.7 124.4 152.6 -661.6 -365.9
Change - 51.91% 246.85% 22.69% -533.56% 44.7%
P/E -2.38x 1.15x -3.33x -4.42x 3.57x 6.97x
PBR 0.3x 0.32x 0.4x 0.4x 0.37x 0.43x
PEG - -0x 0x 0.1x -0x -0.2x
Capitalization / Revenue 2.35x 2.76x 4.59x 3.26x 1.2x 4.91x
EV / Revenue -0.4x -0.15x 0.36x 0.35x -0.56x -1.04x
EV / EBITDA -33.4x 10.3x 6.32x -2.45x 102x 4.29x
EV / EBIT -36.3x 9.81x 6.5x -2.42x 87.9x 4.28x
EV / FCF -0.72x 0.67x 0.53x -1.01x -4.78x 1.55x
FCF Yield -139% 149% 189% -99% -20.9% 64.4%
Dividend per Share 2 0.1 0.1 0.1 0.1 0.1 0.11
Rate of return 11.9% 7.81% 8.13% 9.26% 9.52% 8.94%
EPS 2 -0.3523 1.113 -0.3695 -0.2446 0.2939 0.1764
Distribution rate -28.4% 8.98% -27.1% -40.9% 34% 62.4%
Net sales 1 436.5 564.6 348.7 431.9 1,189 353.1
EBITDA 1 5.275 -8.195 19.67 -62.32 -6.494 -85.26
EBIT 1 4.856 -8.635 19.14 -63.14 -7.527 -85.55
Net income 1 -429.4 1,357 -466 -318.5 390 243.9
Net Debt 1 -1,200 -1,645 -1,477 -1,254 -2,086 -2,099
Reference price 2 0.840 1.280 1.230 1.080 1.050 1.230
Nbr of stocks (in thousands) 1,218,894 1,218,894 1,302,130 1,302,486 1,356,637 1,408,971
Announcement Date 10/16/20 10/27/21 10/26/22 10/25/23 10/24/24 10/23/25
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
38.96x0.29x8.56x1.46% 1.4B
11.14x - - - 1.05B
7.36x - - - 556M
15.58x0.33x5.72x0.97% 501M
Average 18.26x 0.31x 7.14x 1.22% 877.44M
Weighted average by Cap. 22.28x 0.30x 7.81x 1.33%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  5. Valuation APAC Resources Limited