Company Valuation: Dickson Concepts (International) Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 1,502 1,632 1,577 1,581 1,939 1,861
Change - 8.66% -3.38% 0.25% 22.69% -4.06%
Enterprise Value (EV) 1 52.54 -208.1 173.8 -272.1 -874 -1,194
Change - -496.12% 183.52% -256.54% -221.2% -36.58%
P/E 2.34x 3.53x 7.85x 6.26x 5.53x 9.56x
PBR 0.51x 0.5x 0.48x 0.47x 0.54x 0.53x
PEG - -0.1x -0.1x 0.2x 0.1x -0.2x
Capitalization / Revenue 0.51x 0.72x 0.78x 0.74x 0.81x 0.97x
EV / Revenue 0.02x -0.09x 0.09x -0.13x -0.36x -0.62x
EV / EBITDA -0.08x -0.4x 0.63x -0.72x -2.34x -4.92x
EV / EBIT -0.08x -0.42x 0.68x -0.78x -2.55x -5.57x
EV / FCF -0.14x -0.33x 0.54x -1.47x -5.01x -5.31x
FCF Yield -723% -307% 184% -68.2% -20% -18.8%
Dividend per Share 2 0.35 0.35 0.35 0.35 0.45 0.1
Rate of return 9.19% 8.45% 8.75% 8.73% 9.15% 2.07%
EPS 2 1.629 1.172 0.5097 0.6409 0.8898 0.5041
Distribution rate 21.5% 29.9% 68.7% 54.6% 50.6% 19.8%
Net sales 1 2,938 2,275 2,020 2,131 2,400 1,922
EBITDA 1 -673.6 522 273.9 378.3 373.7 242.5
EBIT 1 -696.2 501.3 254.1 351 342.2 214.2
Net income 1 645.8 461.8 200.9 252.6 350.8 198
Net Debt 1 -1,449 -1,840 -1,403 -1,853 -2,814 -3,055
Reference price 2 3.810 4.140 4.000 4.010 4.920 4.820
Nbr of stocks (in thousands) 394,202 394,203 394,203 394,203 394,203 386,059
Announcement Date 7/3/20 7/8/21 7/13/22 7/10/23 7/11/24 6/24/25
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 299M
25.62x3.8x13.42x3.47% 197B
50.28x6.12x25.58x0.75% 155B
29.32x2.78x18.65x0.79% 73.33B
43.91x2.83x11x1.37% 36.96B
21.99x3.96x15.85x1.07% 30.26B
21.29x1.46x8.17x4.34% 27.6B
18.48x2.55x11.31x1.94% 22.03B
29.18x1.7x14.38x-.--% 21.01B
12.97x1.58x6.62x5.14% 8.9B
Average 28.12x 2.98x 13.89x 2.1% 57.24B
Weighted average by Cap. 33.20x 3.97x 16.95x 2.01%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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