Company Valuation: Kingdom Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 669.6 582.6 774.3 710.6 683.5 542.9
Change - -13% 32.92% -8.22% -3.81% -20.58%
Enterprise Value (EV) 1 1,485 1,205 1,047 1,104 1,447 736.4
Change - -18.83% -13.14% 5.47% 31.08% -49.12%
P/E -54.3x 6.75x 4.41x 4.34x -15.1x 8.81x
PBR 0.56x 0.46x 0.55x 0.47x 0.49x 0.38x
PEG - -0x 0x -0.63x 0x -0x
Capitalization / Revenue 0.63x 0.32x 0.38x 0.29x 0.27x 0.2x
EV / Revenue 1.4x 0.67x 0.52x 0.45x 0.56x 0.28x
EV / EBITDA 22.1x 4.85x 3.15x 3.14x 13.4x 3.23x
EV / EBIT -194x 7.59x 4.61x 4.44x 225x 5.53x
EV / FCF -15.9x 6.31x 3.6x -7.92x -5.7x 1.26x
FCF Yield -6.28% 15.8% 27.8% -12.6% -17.5% 79.6%
Dividend per Share 2 - 0.0489 0.0796 0.0817 0.047 0.0539
Rate of return - 5.17% 6.34% 7.09% 4.24% 6.12%
EPS 2 -0.02 0.14 0.285 0.2654 -0.0736 0.1
Distribution rate - 34.9% 27.9% 30.8% -63.8% 53.9%
Net sales 1 1,057 1,800 2,021 2,445 2,572 2,677
EBITDA 1 67.28 248.3 332.4 351.3 108.1 228
EBIT 1 -7.644 158.8 226.9 248.6 6.428 133.2
Net income 1 -9.947 88.22 175.7 163.6 -45.38 62.37
Net Debt 1 815.1 622.7 272.6 393.5 763.7 193.5
Reference price 2 1.0862 0.9450 1.2561 1.1528 1.1088 0.8807
Nbr of stocks (in thousands) 616,447 616,447 616,447 616,447 616,447 616,447
Announcement Date 4/19/21 4/20/22 4/27/23 4/23/24 4/23/25 4/20/26
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 93.16M
31.45x1.32x23.82x0.71% 422M
21.56x0.83x7.65x2.69% 74.05M
Average 26.50x 1.08x 15.74x 1.7% 196.27M
Weighted average by Cap. 29.97x 1.25x 21.41x 1.01%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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