Company Valuation: Unitas Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 170.6 33.97 36.58 47.03 67.94 49.65
Change - -80.09% 7.69% 28.57% 44.44% -26.92%
Enterprise Value (EV) 1 147.8 7.465 7.905 21.31 69.17 65.3
Change - -94.95% 5.89% 169.6% 224.56% -5.61%
P/E -20.9x -6.59x -35.7x -254x -3.19x -2.86x
PBR 10.6x 1.65x 1.9x 2.48x -29.4x -2.49x
PEG - 0.2x 0.4x 3.1x -0x 0.2x
Capitalization / Revenue 23.8x 0.71x 0.4x 0.53x 0.68x 0.54x
EV / Revenue 20.6x 0.16x 0.09x 0.24x 0.69x 0.71x
EV / EBITDA -16.5x -2.53x -22.7x 710x -3.42x -3.75x
EV / EBIT -14.8x -2.04x -14.9x -242x -3.24x -3.14x
EV / FCF 3.65x -1.71x 3.52x -6.84x -8.6x -3.45x
FCF Yield 27.4% -58.4% 28.4% -14.6% -11.6% -29%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.003296 -0.001973 -0.000392 -0.000071 -0.008142 -0.00664
Distribution rate - - - - - -
Net sales 1 7.175 47.94 90.99 88.18 100 91.39
EBITDA 1 -8.968 -2.947 -0.348 0.03 -20.25 -17.4
EBIT 1 -9.97 -3.658 -0.53 -0.088 -21.37 -20.83
Net income 1 -8.152 -4.972 -1.026 -0.187 -21.28 -17.35
Net Debt 1 -22.8 -26.5 -28.68 -25.72 1.238 15.65
Reference price 2 0.0690 0.0130 0.0140 0.0180 0.0260 0.0190
Nbr of stocks (in thousands) 2,472,959 2,612,959 2,612,959 2,612,959 2,612,959 2,612,959
Announcement Date 7/1/21 7/3/22 7/2/23 6/28/24 7/21/25 7/17/26
1HKD in Million2HKD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 6.66M
6.66x1.2x3.64x7.09% 16.33B
12.01x1.89x6.36x6.83% 8.11B
10.06x - - - 4.57B
7.12x3.58x5.74x12.14% 3.76B
10.08x2.85x8.16x8.67% 3.7B
5.48x0.84x2.48x6.63% 3.63B
5.34x2.69x3.61x - 2.93B
4.74x3.05x4.59x0.26% 2.69B
Average 7.69x 2.30x 4.94x 6.94% 5.08B
Weighted average by Cap. 7.97x 1.90x 4.73x 7.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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