Company Valuation: CEC International Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: April 2021 2022 2023 2024 2025 2026
Market Cap 1 519.6 393.1 303.1 139.9 73.28 139.9
Change - -24.36% -22.88% -53.85% -47.62% 90.91%
Enterprise Value (EV) 1 781.7 541.8 448.7 321 230.2 263.7
Change - -30.69% -17.18% -28.47% -28.27% 14.51%
P/E 16.1x 9.86x 6.12x -4.69x -1.67x -3.57x
PBR 1.11x 0.79x 0.57x 0.28x 0.17x 0.34x
PEG - 0.4x 0.3x 0x -0x 0.3x
Capitalization / Revenue 0.25x 0.2x 0.18x 0.1x 0.05x 0.1x
EV / Revenue 0.37x 0.27x 0.27x 0.22x 0.16x 0.19x
EV / EBITDA 11.6x 5.8x 5.71x 43.4x -33.3x -32x
EV / EBIT 18.9x 8.56x 8.93x -18.3x -7.2x -8.74x
EV / FCF 3.06x 1.95x 2.72x 2.19x 1.44x 2.12x
FCF Yield 32.7% 51.3% 36.8% 45.7% 69.2% 47.2%
Dividend per Share 2 0.009 0.01 0.01 - - -
Rate of return 1.15% 1.69% 2.2% - - -
EPS 2 0.0485 0.0599 0.0744 -0.0447 -0.0658 -0.0588
Distribution rate 18.5% 16.7% 13.4% - - -
Net sales 1 2,104 2,009 1,692 1,470 1,444 1,406
EBITDA 1 67.15 93.47 78.61 7.403 -6.908 -8.23
EBIT 1 41.27 63.33 50.23 -17.5 -31.99 -30.18
Net income 1 32.32 39.88 49.56 -29.81 -43.83 -39.19
Net Debt 1 262 148.8 145.6 181.1 157 123.8
Reference price 2 0.7800 0.5900 0.4550 0.2100 0.1100 0.2100
Nbr of stocks (in thousands) 666,191 666,191 666,191 666,191 666,191 666,191
Announcement Date 8/24/21 8/22/22 8/24/23 8/16/24 8/21/25 8/21/26
1HKD in Million2HKD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 15.38M
43.61x1.39x21.29x0.79% 996B
26.81x1.28x11.16x0.88% 56.66B
17.67x0.61x8.81x2.92% 46.18B
22.96x1x6.66x5.03% 40.07B
13.5x0.36x6.8x2.23% 39.98B
16.21x0.52x9.62x2.88% 37.84B
29.23x0.89x10.28x2.53% 35.59B
12.86x0.48x6.13x3.66% 33.01B
17.25x0.67x7.62x2.73% 31B
Average 22.23x 0.80x 9.82x 2.63% 131.62B
Weighted average by Cap. 37.87x 1.24x 18.20x 1.27%

Y-o-Y evolution of P/E

Valuation ratios - P/E - CEC International Holdings Limited

Historical PBR trend

Valuation ratios - PBR - CEC International Holdings Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - CEC International Holdings Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - CEC International Holdings Limited

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