Company Valuation: InvesTech Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 108.8 118.7 80.89 44.7 57.29 208.4
Change - 9.16% -31.87% -44.74% 28.17% 263.7%
Enterprise Value (EV) 1 64.63 111.4 86.89 182.8 179.1 395.7
Change - 72.42% -22.03% 110.33% -2.01% 120.96%
P/E -1.31x -6.7x -2.15x -1.1x -0.89x -4.22x
PBR 0.29x 0.37x 0.26x 0.17x 0.27x 1.26x
PEG - 0.1x -0x 0.11x -0.1x 0.2x
Capitalization / Revenue 0.23x 0.25x 0.15x 0.08x 0.12x 0.37x
EV / Revenue 0.14x 0.23x 0.16x 0.33x 0.38x 0.7x
EV / EBITDA -6.3x -36.3x 20.7x 44.6x -21.3x 261x
EV / EBIT -2.05x -4.61x -5.08x -10.6x -6x -23.1x
EV / FCF 1.31x -16.4x -8.45x -5.47x 6.92x -5.14x
FCF Yield 76.2% -6.11% -11.8% -18.3% 14.4% -19.5%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -1.183 -0.2104 -0.3209 -0.289 -0.3233 -0.2469
Distribution rate - - - - - -
Net sales 1 470.6 484.6 556.7 561 466 566.9
EBITDA 1 -10.26 -3.074 4.203 4.096 -8.41 1.514
EBIT 1 -31.6 -24.19 -17.09 -17.23 -29.82 -17.15
Net income 1 -83.05 -16.85 -35.88 -41.23 -63.55 -49.34
Net Debt 1 -44.13 -7.287 5.997 138.1 121.8 187.3
Reference price 2 1.549 1.409 0.690 0.318 0.287 1.042
Nbr of stocks (in thousands) 70,200 84,240 117,240 140,688 199,888 199,888
Announcement Date 4/15/21 4/27/22 4/27/23 4/25/24 4/23/25 4/21/26
1CNY in Million2CNY
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 36.88M
-42.52x44.09x1288.78x - 44.05B
15.24x0.9x9.87x1.92% 16.57B
36.12x1.01x23.28x0.33% 14.67B
-1.77x2.97x12.26x-.--% 7.35B
39.83x4.56x27.16x1.72% 3.38B
29.58x - - 0.28% 2.68B
Average 12.75x 10.71x 272.27x 0.85% 12.68B
Weighted average by Cap. -10.03x 23.36x 668.00x 0.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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