Company Valuation: CN Logistics International Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,050 2,789 2,316 1,679 1,037 1,010
Change - 165.58% -16.93% -27.53% -38.24% -2.61%
Enterprise Value (EV) 1 1,031 2,768 2,395 1,819 1,238 1,226
Change - 168.37% -13.46% -24.05% -31.91% -1.01%
P/E 10.2x 30.7x 26.1x 36.9x 31.7x 64.6x
PBR 2.98x 6.92x 6.58x 4.62x 2.02x 1.85x
PEG - -1.5x -11.52x -0.8x -0.9x -1.2x
Capitalization / Revenue 0.52x 1.04x 0.83x 0.8x 0.38x 0.34x
EV / Revenue 0.51x 1.04x 0.86x 0.86x 0.45x 0.41x
EV / EBITDA 6.45x 14.2x 13.2x 27.4x 10.2x 10.8x
EV / EBIT 7.17x 15.8x 15.6x 53.4x 13.4x 14.5x
EV / FCF 3.71x 21.4x 8.71x 80.6x -12x 15x
FCF Yield 27% 4.66% 11.5% 1.24% -8.34% 6.67%
Dividend per Share 2 0.15 0.21 0.23 0.04 0.03 0.02
Rate of return 3.57% 2.08% 2.74% 0.66% 0.87% 0.6%
EPS 2 0.4116 0.3289 0.3215 0.1649 0.109 0.052
Distribution rate 36.4% 63.8% 71.5% 24.3% 27.5% 38.5%
Net sales 1 2,021 2,673 2,788 2,104 2,746 3,007
EBITDA 1 159.8 195.5 181.8 66.27 121.5 113.1
EBIT 1 143.9 174.9 153.2 34.07 92.38 84.55
Net income 1 55.52 83.41 86.63 48.28 32.01 15.36
Net Debt 1 -18.73 -21.03 78.47 140.2 201.7 216.2
Reference price 2 4.200 10.100 8.390 6.080 3.450 3.360
Nbr of stocks (in thousands) 250,000 276,100 276,100 276,100 300,489 300,489
Announcement Date 4/14/21 4/25/22 4/27/23 4/25/24 4/24/25 4/24/26
1HKD in Million2HKD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 120M
9.33x0.22x2.56x-.--% 12.21B
250.39x3.17x52.47x-.--% 3.69B
19.28x7.63x16.25x3.73% 3.68B
29.43x0.85x5.47x-.--% 2.6B
15.63x0.35x9.56x3.35% 1.03B
12.63x - - 2.47% 864M
-18.79x - - - 750M
Average 45.41x 2.44x 17.26x 1.59% 3.12B
Weighted average by Cap. 48.29x 1.94x 13.31x 0.8%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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