Company Valuation: MOGU Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 1,374 187.3 185.6 112.2 131.8 125.7
Change - -86.36% -0.93% -39.53% 17.41% -4.58%
Enterprise Value (EV) 1 568.2 -440.6 -375.7 -305.7 -247.8 -169.4
Change - -177.55% 14.73% 18.62% 18.93% 31.63%
P/E -4.08x -0.29x -1.06x -2x -2.25x 73.4x
PBR 0.88x 0.23x 0.29x 0.19x 0.26x 0.25x
PEG - -0x 0x 0x -0.53x -1x
Capitalization / Revenue 2.85x 0.56x 0.8x 0.7x 0.93x 1x
EV / Revenue 1.18x -1.31x -1.62x -1.91x -1.75x -1.35x
EV / EBITDA -6.7x 4.31x 18.1x 5.15x 3.46x 2.87x
EV / EBIT -1.3x 1.01x 3.97x 4.41x 2.98x 2.4x
EV / FCF -5.51x -6.71x 14.3x 2.58x 3.8x -8.33x
FCF Yield -18.1% -14.9% 7.02% 38.8% 26.3% -12%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -37.41 -76.17 -21 -6.846 -7.14 0.2094
Distribution rate - - - - - -
Net sales 1 482.4 337.5 232.1 160.3 141.2 125.4
EBITDA 1 -84.84 -102.3 -20.8 -59.4 -71.64 -59.03
EBIT 1 -436 -435.9 -94.71 -69.39 -83.24 -70.5
Net income 1 -328 -639.8 -178 -59.28 -62.56 1.841
Net Debt 1 -805.4 -627.9 -561.3 -417.9 -379.6 -295.2
Reference price 2 152.54 22.32 22.32 13.66 16.04 15.38
Nbr of stocks (in thousands) 9,004 8,394 8,313 8,216 8,216 8,174
Announcement Date 6/30/21 7/15/22 7/31/23 7/19/24 7/31/25 7/24/26
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 15.22M
15.2x4.05x9.39x1.34% 504B
19.32x5.72x17.19x-.--% 288B
21.35x2.44x12.42x-.--% 139B
2.96x79.76x2.22x0.14% 107B
35.88x4.18x27.3x-.--% 102B
29.37x5.7x16.02x-.--% 92.02B
10.12x7.27x87.32x0.68% 86.53B
68.99x4.06x19.32x-.--% 77.3B
7.57x2.88x59.75x0.79% 32.58B
Average 23.42x 12.90x 27.88x 0.33% 142.92B
Weighted average by Cap. 20.54x 10.16x 18.84x 0.54%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA