Company Valuation: Gulf Resources, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 41.19 45.33 32.36 17.21 6.088 5.696
Change - 10.06% -28.62% -46.81% -64.63% -6.43%
Enterprise Value (EV) 1 -42.43 -40.37 -66.18 -45.53 4.739 23.8
Change - 4.84% -63.93% 31.21% 110.41% 402.21%
P/E -4.72x -49x 3.08x -0.28x -0.1x -0.11x
PBR 0.15x 0.16x 0.12x 0.09x 0.04x 0.05x
PEG - 0.5x -0x 0x 0.01x 0x
Capitalization / Revenue 1.46x 0.82x 0.49x 0.57x 0.79x 0.22x
EV / Revenue -1.5x -0.73x -1x -1.52x 0.62x 0.94x
EV / EBITDA -54x -1.86x -2.3x -102x -0.36x 3.09x
EV / EBIT 4.38x -4.24x -4.02x 3.83x -0.22x -2.78x
EV / FCF 2.07x 4.63x 8.31x -13.2x -0.09x -1.28x
FCF Yield 48.2% 21.6% 12% -7.59% -1,142% -78%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -8.725 -0.883 10.02 -59.21 -54.94 -32.95
Distribution rate - - - - - -
Net sales 1 28.21 55.03 66.09 30.04 7.661 25.42
EBITDA 1 0.7862 21.73 28.74 0.4482 -13.27 7.693
EBIT 1 -9.683 9.514 16.48 -11.89 -21.28 -8.569
Net income 1 -8.42 -0.9247 10.06 -61.8 -58.94 -43.92
Net Debt 1 -83.62 -85.71 -98.54 -62.74 -1.348 18.11
Reference price 2 41.200 43.300 30.900 16.500 5.675 3.700
Nbr of stocks (in thousands) 1,000 1,047 1,047 1,043 1,073 1,540
Announcement Date 4/8/21 4/12/22 3/31/23 9/27/24 4/11/25 8/17/26
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 6.64M
27.5x4.26x13.69x2.1% 126B
16.58x5.97x31.16x2.87% 56.53B
58.16x1.35x9.5x5.97% 39.5B
12.64x1.28x6.88x2.68% 36.21B
10.09x3.26x7.66x4.3% 26.43B
75.6x13.71x49.9x0.07% 20.55B
8.68x0.87x5.34x4.35% 20.52B
19.54x0.86x6.57x1.19% 20.5B
11.33x1.02x8.2x3.7% 19.94B
Average 26.68x 3.62x 15.43x 3.02% 36.63B
Weighted average by Cap. 26.71x 3.82x 15.69x 2.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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