Company Valuation: Kaisa Health Group

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 690.8 393.3 352.9 171.4 121 352.9
Change - -43.07% -10.26% -51.43% -29.41% 191.67%
Enterprise Value (EV) 1 518.6 166.3 211.4 15.35 -17.95 256.8
Change - -67.93% 27.1% -92.74% -216.9% 1,530.8%
P/E -17.3x 167x -2.86x 23x -2.61x -7.56x
PBR 1.09x 0.6x 0.73x 0.35x 0.28x 0.87x
PEG - -2x 0x -0x 0x -10.85x
Capitalization / Revenue 3.76x 1.88x 1.84x 0.92x 0.65x 2.54x
EV / Revenue 2.82x 0.79x 1.1x 0.08x -0.1x 1.85x
EV / EBITDA -17.7x -2.74x -4.22x -0.41x 1.15x -5.32x
EV / EBIT -12.3x -2.13x -2.93x -0.32x 0.77x -4.64x
EV / FCF -12.9x -2.32x -28.3x -0.21x 25.2x -6.62x
FCF Yield -7.77% -43% -3.54% -472% 3.96% -15.1%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.395 0.0234 -1.225 0.0741 -0.4597 -0.4629
Distribution rate - - - - - -
Net sales 1 183.8 209.6 191.5 185.9 185.4 139.1
EBITDA 1 -29.3 -60.68 -50.07 -37.34 -15.56 -48.31
EBIT 1 -42.21 -77.93 -72.24 -47.86 -23.23 -55.4
Net income 1 -39.69 2.359 -123.3 7.468 -46.36 -46.68
Net Debt 1 -172.2 -227 -141.6 -156.1 -139 -96.14
Reference price 2 6.850 3.900 3.500 1.700 1.200 3.500
Nbr of stocks (in thousands) 100,843 100,843 100,843 100,843 100,843 100,843
Announcement Date 4/30/21 4/29/22 4/28/23 4/29/24 4/28/25 4/28/26
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 20.32M
32.89x5.72x18.57x1.06% 19.75B
20.64x3.41x12.43x2.27% 15.23B
34.05x3.38x16.06x2.76% 5.64B
20.22x2.58x10.05x1.85% 4.25B
18.7x2.09x10.28x-.--% 1.73B
53.58x3.3x26.28x0.85% 1.66B
21.99x4.44x13.33x0.9% 1.25B
-22.62x - - - 444M
Average 22.43x 3.56x 15.29x 1.39% 5.55B
Weighted average by Cap. 27.64x 4.23x 15.50x 1.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Kaisa Health Group