Company Valuation: Automated Systems Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,113 1,142 600.3 575.3 575.3 658.6
Change - 2.64% -47.44% -4.17% 0% 14.49%
Enterprise Value (EV) 1 888.5 646.4 112.1 52.07 -136.6 44.64
Change - -27.25% -82.66% -53.53% -362.34% 132.68%
P/E 1.3x 280x 5.91x 4.38x 3.85x 8.13x
PBR 0.51x 0.57x 0.29x 0.26x 0.25x 0.28x
PEG - -2.8x 0x 0.1x 0.3x -0.2x
Capitalization / Revenue 0.56x 0.56x 0.27x 0.24x 0.24x 0.25x
EV / Revenue 0.45x 0.32x 0.05x 0.02x -0.06x 0.02x
EV / EBITDA 6.26x 6.6x 0.8x 0.54x -1.39x 0.47x
EV / EBIT 7.13x 7.95x 0.92x 0.66x -1.75x 0.61x
EV / FCF 2.77x 372x 36.9x 1.21x -1.14x -0.44x
FCF Yield 36.1% 0.27% 2.71% 82.7% -88% -230%
Dividend per Share 2 0.03 0.03 0.03 0.03 0.03 0.03
Rate of return 2.24% 2.19% 4.17% 4.35% 4.35% 3.8%
EPS 2 1.034 0.0049 0.1218 0.1575 0.179 0.0972
Distribution rate 2.9% 612% 24.6% 19% 16.8% 30.9%
Net sales 1 1,989 2,050 2,215 2,360 2,373 2,605
EBITDA 1 142 97.98 139.2 97 98.18 95.6
EBIT 1 124.6 81.28 121.4 78.66 78.11 73.06
Net income 1 856.3 4.132 101.6 131.3 149.3 82.39
Net Debt 1 -224.1 -495.6 -488.2 -523.2 -711.9 -614
Reference price 2 1.3400 1.3700 0.7200 0.6900 0.6900 0.7900
Nbr of stocks (in thousands) 830,308 833,584 833,696 833,696 833,696 833,696
Announcement Date 4/23/21 4/26/22 4/25/23 4/30/24 4/23/25 4/22/26
1HKD in Million2HKD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 76.02M
26.5x1.8x16.16x0.55% 295B
24.17x9.74x17.55x0.36% 188B
23.35x1.86x9.63x1.08% 69.27B
16.29x0.42x7.51x1.96% 47.4B
41.17x25.28x31.31x1.08% 43.04B
33.32x5.72x19.81x1.29% 41.65B
12.31x0.55x6.65x3.93% 27.52B
29.55x3.06x19.71x2.49% 22.75B
12.34x0.65x9.75x5.38% 22.64B
Average 24.33x 5.45x 15.34x 2.01% 75.72B
Weighted average by Cap. 25.35x 5.20x 16.00x 1.04%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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