Company Valuation: Starlite Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 154.9 153 119.1 100.1 110.1 75.6
Change - -1.24% -22.18% -15.9% 10% -31.36%
Enterprise Value (EV) 1 269.3 14.76 -39.61 -49.04 -9.929 4.116
Change - -94.52% -368.33% -23.82% 79.76% 141.45%
P/E -1.57x 0.43x 18.7x 5.8x -4.09x -0.72x
PBR 0.44x 0.23x 0.19x 0.16x 0.19x 0.15x
PEG - -0x -0.2x 0x 0x -0x
Capitalization / Revenue 0.15x 0.15x 0.13x 0.12x 0.12x 0.1x
EV / Revenue 0.25x 0.01x -0.04x -0.06x -0.01x 0.01x
EV / EBITDA 8.6x -0.33x -0.79x -0.84x -1.11x -0.08x
EV / EBIT -17.4x -0.17x -3.79x -2.38x 0.34x -0.05x
EV / FCF -2.13x -0.08x -1.34x 14.8x 2.51x -0.46x
FCF Yield -47% -1,224% -74.6% 6.76% 39.8% -217%
Dividend per Share 2 - 0.01 0.01 0.025 0.01 -
Rate of return - 3.39% 4.26% 12.5% 4.55% -
EPS 2 -0.1876 0.681 0.0126 0.0345 -0.0538 -0.21
Distribution rate - 1.47% 79.4% 72.5% -18.6% -
Net sales 1 1,057 1,049 923.2 834.7 895.3 782.4
EBITDA 1 31.3 -44.49 49.93 58.4 8.906 -50.86
EBIT 1 -15.48 -86.46 10.45 20.57 -29.48 -88.57
Net income 1 -98.52 357.5 6.478 17.42 -26.93 -105.1
Net Debt 1 114.4 -138.2 -158.7 -149.2 -120.1 -71.48
Reference price 2 0.2950 0.2950 0.2350 0.2000 0.2200 0.1510
Nbr of stocks (in thousands) 525,135 518,635 506,635 500,633 500,633 500,633
Announcement Date 15/07/21 14/07/22 17/07/23 17/07/24 17/07/25 16/07/26
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 9.7M
23.25x1.22x7.72x3.65% 26.24B
31.53x1.26x9.59x4.26% 22.46B
25.88x2.55x12.24x2.14% 22.35B
22.3x2.39x9.91x1.76% 6.6B
14.95x1.26x7.28x3.66% 5.8B
19.36x2.32x13.6x3.54% 5.23B
8.48x1.35x9.64x1.12% 4.55B
27.92x0.82x7.51x2.19% 4.42B
19.13x1.31x8.63x2.55% 3.8B
Average 21.42x 1.61x 9.57x 2.76% 10.14B
Weighted average by Cap. 24.31x 1.65x 9.66x 3.11%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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