Company Valuation: Sapphire Corporation Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 197.3 128.7 226.4 101 105 115.3
Change - -34.78% 75.97% -55.38% 3.88% 9.81%
Enterprise Value (EV) 1 24.02 8.908 145.3 49.15 95.54 123.3
Change - -62.92% 1,530.97% -66.17% 94.41% 29.05%
P/E 7.04x 4.41x 7.38x 8.8x 76.3x 23.6x
PBR 0.33x 0.2x 0.34x 0.17x 0.18x 0.2x
PEG - 1.07x 1.42x -0.1x -0.9x 0x
Capitalization / Revenue 10.8x 1.13x 2.32x 1.46x 0.24x 0.24x
EV / Revenue 1.31x 0.08x 1.49x 0.71x 0.22x 0.25x
EV / EBITDA -2.11x 0.64x 23.4x -3.68x -25.6x -12x
EV / EBIT -1.9x 0.8x 117x -2.43x -16.6x -10.1x
EV / FCF 0.11x -0.12x -10.2x 0.66x -5.96x -5.45x
FCF Yield 924% -805% -9.84% 152% -16.8% -18.3%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.0687 0.0716 0.0753 0.0282 0.003375 0.012
Distribution rate - - - - - -
Net sales 1 18.3 114.1 97.59 69.26 432.6 483.6
EBITDA 1 -11.38 13.93 6.212 -13.37 -3.73 -10.24
EBIT 1 -12.65 11.08 1.243 -20.21 -5.752 -12.26
Net income 1 28.02 29.17 30.69 11.48 1.376 4.887
Net Debt 1 -173.3 -119.8 -81.14 -51.89 -9.412 8.048
Reference price 2 0.4841 0.3157 0.5555 0.2479 0.2575 0.2828
Nbr of stocks (in thousands) 407,590 407,590 407,590 407,590 407,590 407,590
Announcement Date 4/13/22 9/8/22 7/16/23 4/14/24 4/13/25 4/13/26
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 13.05M
54.89x2.53x24.16x0.07% 95.45B
12.2x1.05x5.74x4.79% 70.02B
33.47x4.21x22.83x0.2% 57.13B
26.39x2.03x19.95x1.12% 56.41B
50.9x4.04x25.58x1.92% 39.78B
27.23x0.68x11.26x2.27% 34.07B
22.95x1.56x14.44x0.2% 33.16B
21.61x0.43x6.84x2.8% 29.31B
4.94x0.31x5.78x5.95% 26.35B
Average 28.29x 1.87x 15.18x 2.15% 44.17B
Weighted average by Cap. 31.63x 2.10x 16.69x 1.85%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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