Company Valuation: iRay Group

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 36,049 33,284 33,157 13,656 21,355 30,482 - -
Change - -7.67% -0.38% -58.82% 56.38% 42.74% - -
Enterprise Value (EV) 1 36,049 31,900 33,258 15,010 22,316 31,736 31,532 30,718
Change - -11.51% 4.26% -54.87% 48.67% 42.21% -0.64% -2.58%
P/E 74.7x 52x 56.6x 30.5x 32.7x 37.9x 27.8x 22.9x
PBR 11.8x 9.19x 8.14x 2.95x 3.45x 3.76x 3.7x 3.15x
PEG - 1.6x -6.56x -1.3x 0.9x 2.3x 0.8x 1.1x
Capitalization / Revenue 30.4x 21.5x 17.8x 7.46x 9.49x 8.71x 6.82x 5.59x
EV / Revenue 30.4x 20.6x 17.8x 8.2x 9.91x 9.07x 7.06x 5.64x
EV / EBITDA 61.7x 43.1x 45.4x 26.1x 25.6x 27.1x 22x 18.2x
EV / EBIT 65.6x 45x 48.7x 29.6x 32.7x 35.8x 28.5x 23.3x
EV / FCF 640x -79.6x -22x -13.9x -58.6x 41.4x 19.4x 16.7x
FCF Yield 0.16% -1.26% -4.54% -7.2% -1.71% 2.42% 5.16% 5.97%
Dividend per Share 2 0.5727 0.7549 0.7289 0.5102 0.7143 1.5 1.378 1.467
Rate of return 0.44% 0.63% 0.61% 1.05% 0.99% 1.54% 1.42% 1.51%
EPS 2 1.731 2.293 2.095 1.597 2.207 2.57 3.497 4.247
Distribution rate 33.1% 32.9% 34.8% 31.9% 32.4% 58.4% 39.4% 34.5%
Net sales 1 1,187 1,549 1,864 1,831 2,251 3,498 4,469 5,451
EBITDA 1 584 739.9 732.7 576.2 870.5 1,170 1,435 1,685
EBIT 1 549.3 708.7 683.6 507.2 683.3 887.5 1,105 1,320
Net income 1 482.5 641.3 607.5 465.2 650 804 1,040 1,257
Net Debt 1 - -1,384 100.7 1,354 960.7 1,254 1,050 235.9
Reference price 2 129.35 119.19 118.53 48.76 72.22 97.30 97.30 97.30
Nbr of stocks (in thousands) 278,700 279,252 279,727 280,062 295,688 313,278 - -
Announcement Date 2/24/22 2/23/23 4/19/24 4/25/25 3/30/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.85x9.12x27.29x1.25% 4.55B
39.23x5.07x28.71x0.32% 13.29B
24.88x2.92x21.75x1.16% 1.31B
45.4x - - - 1.11B
-13.06x - - - 339M
Average 26.26x 5.70x 25.91x 0.91% 4.12B
Weighted average by Cap. 36.82x 5.88x 27.89x 0.6%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield