Financials Man Wah Holdings Limited Berne S.E.

Equities

BMG5800U1071

Home Furnishings

Delayed Berne S.E. 5-day change 1st Jan Change
- CHF -.--% Intraday chart for Man Wah Holdings Limited -.--% -.--%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 16,133 63,816 33,573 25,369 21,404 23,924 - -
Enterprise Value (EV) 1 18,150 64,110 35,077 25,807 22,244 23,409 22,228 20,968
P/E ratio 9.91 x 32.2 x 15.1 x 13.3 x 9.34 x 9.36 x 8.46 x 7.95 x
Yield 4.47% 1.61% 3.49% 3.86% 5.43% 5.36% 5.97% 6.24%
Capitalization / Revenue 1.33 x 3.88 x 1.56 x 1.46 x 1.16 x 1.2 x 1.11 x 1.06 x
EV / Revenue 1.49 x 3.9 x 1.63 x 1.49 x 1.21 x 1.17 x 1.03 x 0.93 x
EV / EBITDA 7.14 x 22.6 x 9.81 x 8.08 x 6.12 x 5.95 x 5.23 x 4.87 x
EV / FCF 9.83 x 97.7 x 59.9 x 10.3 x 16 x 16.8 x 13.6 x 14.8 x
FCF Yield 10.2% 1.02% 1.67% 9.7% 6.24% 5.96% 7.36% 6.78%
Price to Book 2.42 x 5.75 x 2.9 x 2.2 x 1.77 x 1.74 x 1.53 x 1.35 x
Nbr of stocks (in thousands) 3,795,940 3,958,795 3,908,340 3,920,950 3,877,538 3,877,538 - -
Reference price 2 4.250 16.12 8.590 6.470 5.520 6.170 6.170 6.170
Announcement Date 5/15/20 5/14/21 5/16/22 5/15/23 5/16/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 12,144 16,434 21,497 17,351 18,411 19,957 21,572 22,537
EBITDA 1 2,543 2,841 3,574 3,194 3,634 3,933 4,252 4,307
EBIT 1 2,264 2,451 2,890 2,510 3,061 3,346 3,662 3,725
Operating Margin 18.65% 14.91% 13.44% 14.46% 16.63% 16.77% 16.98% 16.53%
Earnings before Tax (EBT) 1 2,109 2,360 2,819 2,355 2,864 3,198 3,519 3,667
Net income 1 1,638 1,925 2,247 1,915 2,302 2,549 2,816 2,967
Net margin 13.49% 11.71% 10.46% 11.04% 12.51% 12.77% 13.05% 13.17%
EPS 2 0.4287 0.5010 0.5677 0.4877 0.5908 0.6591 0.7289 0.7758
Free Cash Flow 1 1,847 656.2 585.9 2,504 1,388 1,396 1,635 1,421
FCF margin 15.2% 3.99% 2.73% 14.43% 7.54% 6.99% 7.58% 6.31%
FCF Conversion (EBITDA) 72.62% 23.1% 16.39% 78.38% 38.2% 35.48% 38.45% 32.99%
FCF Conversion (Net income) 112.73% 34.1% 26.07% 130.75% 60.28% 54.75% 58.06% 47.89%
Dividend per Share 2 0.1900 0.2600 0.3000 0.2500 0.3000 0.3307 0.3685 0.3851
Announcement Date 5/15/20 5/14/21 5/16/22 5/15/23 5/16/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 6,552 6,637 9,797 10,214 11,282 9,289 8,062 8,938 9,474 9,064 9,942
EBITDA 1,406 - - 1,468 - - - - - - -
EBIT 1 1,274 - 1,477 1,151 1,598 1,420 1,090 1,509 1,552 1,422 1,492
Operating Margin 19.44% - 15.07% 11.26% 14.17% 15.28% 13.52% 16.89% 16.38% 15.69% 15.01%
Earnings before Tax (EBT) 1,201 - - 1,263 - - - - - - -
Net income 932.4 - - 988.1 - 1,092 - - - - -
Net margin 14.23% - - 9.67% - 11.76% - - - - -
EPS - - - - - 0.2778 - - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 5/15/20 11/30/21 5/14/21 11/12/21 5/16/22 11/15/22 5/15/23 11/15/23 5/16/24 - -
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 2,017 294 1,504 438 840 - - -
Net Cash position 1 - - - - - 515 1,697 2,956
Leverage (Debt/EBITDA) 0.7934 x 0.1034 x 0.4208 x 0.1372 x 0.2313 x - - -
Free Cash Flow 1 1,847 656 586 2,504 1,388 1,396 1,635 1,421
ROE (net income / shareholders' equity) 25.3% 22.1% 20% 16.5% 19.1% 18.6% 18.4% 18%
ROA (Net income/ Total Assets) 12.4% 12.6% 11.8% 9.54% 11.6% 12.7% 12.8% 12.6%
Assets 1 13,180 15,323 18,980 20,081 19,848 20,108 21,959 23,611
Book Value Per Share 2 1.760 2.810 2.960 2.950 3.120 3.550 4.020 4.560
Cash Flow per Share 2 0.7000 0.5000 0.5900 1.030 0.6600 0.8700 0.8900 0.9500
Capex 1 836 1,266 1,738 1,555 1,167 1,010 754 619
Capex / Sales 6.88% 7.7% 8.08% 8.96% 6.34% 5.06% 3.49% 2.75%
Announcement Date 5/15/20 5/14/21 5/16/22 5/15/23 5/16/24 - - -
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
6.17 HKD
Average target price
8.62 HKD
Spread / Average Target
+39.71%
Consensus

Quarterly revenue - Rate of surprise

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