Company Valuation: SHIN HWAPAR

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 711.4 984.7 1,057 215.5 311.9 438.2
Change - 38.42% 7.3% -79.6% 44.71% 40.49%
Enterprise Value (EV) 1 2,609 2,282 2,111 1,372 1,238 1,385
Change - -12.55% -7.48% -35.03% -9.76% 11.92%
P/E -0.32x -0.87x -4.87x -0.41x -0.4x -0.72x
PBR 0.07x 0.11x 0.13x 0.03x 0.05x 0.07x
PEG - 0x 0.1x -0x 0x 0x
Capitalization / Revenue 0.9x 0.73x 0.76x 0.21x 0.29x 0.45x
EV / Revenue 3.31x 1.69x 1.52x 1.32x 1.15x 1.43x
EV / EBITDA -5.82x 60.9x 10.6x -6.96x -8.89x -12.3x
EV / EBIT -2.47x -4.19x -7.27x -2.79x -3.42x -4.68x
EV / FCF 4.69x 4.35x 8.2x 11.4x -37.8x -8.15x
FCF Yield 21.3% 23% 12.2% 8.75% -2.65% -12.3%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -6.328 -2.684 -0.5132 -1.236 -0.5154 -0.1663
Distribution rate - - - - - -
Net sales 1 788 1,350 1,387 1,036 1,074 966.9
EBITDA 1 -448 37.45 198.5 -197.1 -139.3 -112.6
EBIT 1 -1,056 -544.8 -290.3 -490.9 -361.8 -296
Net income 1 -2,115 -1,056 -216.9 -522.4 -494.1 -342.5
Net Debt 1 1,898 1,297 1,054 1,156 925.8 947.1
Reference price 2 2.0200 2.3300 2.5000 0.5100 0.2050 0.1200
Nbr of stocks (in thousands) 352,188 422,625 422,625 422,625 1,521,451 3,651,481
Announcement Date 4/27/21 4/26/22 4/25/23 4/25/24 4/23/25 4/23/26
1HKD in Million2HKD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.47x2.66x7.07x3.11% 24.82B
22.86x5.89x13.81x1.71% 24.56B
12.89x2.14x7.48x5.75% 17.56B
13.07x5.94x9.03x3.87% 15.01B
-72.52x1.29x8.83x-.--% 12.92B
12.97x2.17x8.04x8.57% 12.16B
186.73x1.53x14.35x-.--% 9.73B
17.4x2.31x7.68x1.28% 7.94B
Average 25.86x 2.99x 9.54x 3.04% 15.59B
Weighted average by Cap. 20.00x 3.32x 9.58x 3.15%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA