Company Valuation: Minth Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 32,501 21,736 16,644 16,364 33,371 23,948 - -
Change - -33.12% -23.43% -1.68% 103.93% -28.24% - -
Enterprise Value (EV) 1 34,152 25,714 22,167 22,343 38,573 28,107 26,898 25,908
Change - -24.71% -13.79% 0.79% 72.64% -27.13% -4.3% -3.68%
P/E 21.7x 14.3x 8.66x 7.04x 12.3x 7.82x 6.7x 5.8x
PBR 2.02x 1.27x 0.91x 0.8x 1.39x 0.92x 0.83x 0.75x
PEG - 15.4x 0.3x 0.3x 0.8x 0.6x 0.4x 0.4x
Capitalization / Revenue 2.33x 1.26x 0.81x 0.71x 1.3x 0.82x 0.71x 0.62x
EV / Revenue 2.45x 1.49x 1.08x 0.97x 1.5x 0.97x 0.8x 0.67x
EV / EBITDA 11.3x 9.88x 6.51x 5.42x 7.97x 5.05x 4.31x 3.75x
EV / EBIT 16.3x 17.7x 11.2x 8.72x 12.4x 7.43x 6.14x 5.2x
EV / FCF -18.6x -16.5x 170x 16.4x 14.3x 11.4x 10x 7.42x
FCF Yield -5.38% -6.06% 0.59% 6.1% 7.01% 8.8% 9.96% 13.5%
Dividend per Share 2 0.5124 0.5067 - 0.4059 0.6659 0.8802 1.066 1.163
Rate of return 1.83% 2.71% - 2.86% 2.34% 4.31% 5.21% 5.69%
EPS 2 1.292 1.304 1.654 2.019 2.324 2.614 3.05 3.522
Distribution rate 39.7% 38.9% - 20.1% 28.7% 33.7% 35% 33%
Net sales 1 13,919 17,306 20,524 23,147 25,737 29,118 33,680 38,862
EBITDA 1 3,012 2,604 3,408 4,121 4,842 5,568 6,236 6,904
EBIT 1 2,089 1,451 1,984 2,563 3,118 3,785 4,380 4,985
Net income 1 1,497 1,501 1,903 2,319 2,692 3,048 3,577 4,140
Net Debt 1 1,652 3,978 5,523 5,978 5,201 4,159 2,950 1,960
Reference price 2 27.98 18.71 14.32 14.21 28.50 20.44 20.44 20.44
Nbr of stocks (in thousands) 1,161,400 1,161,836 1,161,994 1,151,750 1,170,747 1,171,413 - -
Announcement Date 3/22/22 3/21/23 3/26/24 3/24/25 3/23/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.82x0.97x5.05x4.31% 3.57B
11.53x0.44x2.7x3.44% 2.77B
54.73x - - 0.2% 2.63B
8.17x0.3x3.11x4.37% 2.01B
13.44x0.79x6.02x3.82% 1.16B
4.99x0.76x4.44x9.02% 1.07B
Average 16.78x 0.65x 4.26x 4.19% 2.2B
Weighted average by Cap. 18.25x 0.66x 4.11x 3.66%

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

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