Company Valuation: HM International Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 26.8 53.2 51.2 38 39.9 33.29
Change - 98.51% -3.76% -25.78% 5% -16.56%
Enterprise Value (EV) 1 -5.332 2.793 8.982 -45 -6.693 -33.63
Change - 152.38% 221.59% -601.01% 85.13% -402.48%
P/E -5.92x 13.7x 7.21x 6.25x -5.15x 4.22x
PBR 0.32x 0.61x 0.56x 0.41x 0.52x 0.41x
PEG - -0x 0.1x -0.4x 0x -0x
Capitalization / Revenue 0.22x 0.31x 0.27x 0.21x 0.25x 0.25x
EV / Revenue -0.04x 0.02x 0.05x -0.25x -0.04x -0.25x
EV / EBITDA 0.83x 0.31x 1.11x -11.5x 1.23x -135x
EV / EBIT 0.55x 0.44x 1.43x -19x 0.89x 14.6x
EV / FCF -0.62x 0.18x 0.93x -1.38x 0.83x -3.02x
FCF Yield -161% 555% 107% -72.4% 121% -33.1%
Dividend per Share 2 - 0.0075 0.015 0.02 - -
Rate of return - 5.64% 11.7% 21.1% - -
EPS 2 -0.0113 0.00971 0.0178 0.0152 -0.019 0.0187
Distribution rate - 77.2% 84.5% 132% - -
Net sales 1 119.5 172.8 190.3 178.6 158.9 132.3
EBITDA 1 -6.407 8.962 8.095 3.909 -5.46 0.25
EBIT 1 -9.655 6.413 6.291 2.368 -7.486 -2.301
Net income 1 -4.527 3.884 7.103 6.265 -7.72 7.831
Net Debt 1 -32.13 -50.41 -42.22 -83 -46.59 -66.92
Reference price 2 0.0670 0.1330 0.1280 0.0950 0.0980 0.0790
Nbr of stocks (in thousands) 400,000 400,000 400,000 400,000 407,145 421,415
Announcement Date 3/21/21 3/29/22 3/28/23 4/8/24 3/24/25 3/16/26
1HKD in Million2HKD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 7.1M
19.08x0.8x8.42x1.18% 8.8B
13.96x0.82x7.37x1.32% 8.29B
17.86x - - - 2.17B
9.77x - - - 1.08B
Average 15.16x 0.81x 7.90x 1.25% 4.07B
Weighted average by Cap. 16.37x 0.81x 7.91x 1.25%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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