Company Valuation: Dickson Concepts (International) Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 1,632 1,577 1,581 1,939 1,861 2,413
Change - -3.38% 0.25% 22.69% -4.06% 29.67%
Enterprise Value (EV) 1 -208.1 173.8 -272.1 -874 -1,194 -968.5
Change - 183.52% -256.54% -221.2% -36.58% 18.86%
P/E 3.53x 7.85x 6.26x 5.53x 9.56x 9.69x
PBR 0.5x 0.48x 0.47x 0.54x 0.53x 0.65x
PEG - -0.1x 0.2x 0.1x -0.2x 0.3x
Capitalization / Revenue 0.72x 0.78x 0.74x 0.81x 0.97x 1.21x
EV / Revenue -0.09x 0.09x -0.13x -0.36x -0.62x -0.49x
EV / EBITDA -0.4x 0.63x -0.72x -2.34x -4.92x -3.61x
EV / EBIT -0.42x 0.68x -0.78x -2.55x -5.57x -3.97x
EV / FCF -0.33x 0.54x -1.47x -5.01x -5.31x -3.81x
FCF Yield -307% 184% -68.2% -20% -18.8% -26.2%
Dividend per Share 2 0.35 0.35 0.35 0.45 0.1 0.35
Rate of return 8.45% 8.75% 8.73% 9.15% 2.07% 5.6%
EPS 2 1.172 0.5097 0.6409 0.8898 0.5041 0.6448
Distribution rate 29.9% 68.7% 54.6% 50.6% 19.8% 54.3%
Net sales 1 2,275 2,020 2,131 2,400 1,922 1,989
EBITDA 1 522 273.9 378.3 373.7 242.5 268.4
EBIT 1 501.3 254.1 351 342.2 214.2 244
Net income 1 461.8 200.9 252.6 350.8 198 248.9
Net Debt 1 -1,840 -1,403 -1,853 -2,814 -3,055 -3,381
Reference price 2 4.140 4.000 4.010 4.920 4.820 6.250
Nbr of stocks (in thousands) 394,203 394,203 394,203 394,203 386,059 386,059
Announcement Date 08/07/21 13/07/22 10/07/23 11/07/24 24/06/25 06/07/26
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 322M
24.68x3.8x13.44x3.61% 192B
47.9x5.88x24.53x0.78% 149B
29.95x2.85x19.07x0.77% 74.89B
44.44x2.72x10.67x1.39% 35.4B
20.78x3.75x14.99x1.13% 28.58B
21.14x1.42x8.05x4.44% 27.25B
18.75x2.59x11.52x1.91% 22.84B
29.83x1.73x14.68x-.--% 21.48B
14.21x1.71x7.17x4.57% 9.79B
Average 27.96x 2.94x 13.79x 2.07% 56.11B
Weighted average by Cap. 32.20x 3.87x 16.64x 2.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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