Company Valuation: Starlite Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 202.2 154.9 153 119.1 100.1 110.1
Change - -23.38% -1.24% -22.18% -15.9% 10%
Enterprise Value (EV) 1 99.15 269.3 14.76 -39.61 -49.04 -9.929
Change - 171.59% -94.52% -368.33% -23.82% 79.76%
P/E 23.8x -1.57x 0.43x 18.7x 5.8x -4.09x
PBR 0.45x 0.44x 0.23x 0.19x 0.16x 0.19x
PEG - 0x -0x -0.2x 0x 0x
Capitalization / Revenue 0.18x 0.15x 0.15x 0.13x 0.12x 0.12x
EV / Revenue 0.09x 0.25x 0.01x -0.04x -0.06x -0.01x
EV / EBITDA 1.48x 8.6x -0.33x -0.79x -0.84x -1.11x
EV / EBIT 5.12x -17.4x -0.17x -3.79x -2.38x 0.34x
EV / FCF 1.45x -2.13x -0.08x -1.34x 14.8x 2.51x
FCF Yield 68.8% -47% -1,224% -74.6% 6.76% 39.8%
Dividend per Share 2 0.01 - 0.01 0.01 0.025 0.01
Rate of return 2.6% - 3.39% 4.26% 12.5% 4.55%
EPS 2 0.0162 -0.1876 0.681 0.0126 0.0345 -0.0538
Distribution rate 61.8% - 1.47% 79.4% 72.5% -18.6%
Net sales 1 1,136 1,057 1,049 923.2 834.7 895.3
EBITDA 1 67.1 31.3 -44.49 49.93 58.4 8.906
EBIT 1 19.37 -15.48 -86.46 10.45 20.57 -29.48
Net income 1 8.499 -98.52 357.5 6.478 17.42 -26.93
Net Debt 1 -103 114.4 -138.2 -158.7 -149.2 -120.1
Reference price 2 0.3850 0.2950 0.2950 0.2350 0.2000 0.2200
Nbr of stocks (in thousands) 525,135 525,135 518,635 506,635 500,633 500,633
Announcement Date 7/15/20 7/15/21 7/14/22 7/17/23 7/17/24 7/17/25
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 9.7M
20.84x1.16x7.22x4.05% 24.06B
24.16x2.43x11.64x2.19% 21.09B
29.36x1.18x9.03x4.66% 20.54B
23.97x2.46x10.25x1.69% 6.94B
22.11x2.58x15.15x3.1% 5.96B
14.45x1.27x7.39x3.73% 5.68B
8.16x1.34x9.61x1.17% 4.34B
26.3x0.79x7.16x2.51% 4.18B
22.76x1.29x9.43x2.18% 3.75B
Average 21.35x 1.61x 9.65x 2.81% 9.66B
Weighted average by Cap. 23.05x 1.63x 9.48x 3.26%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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