Company Valuation: Superactive Group Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2018 2019 2020 2021 2022 2023
Market Cap 1 630.1 424.8 315 392.3 69.11 38.62
Change - -32.58% -25.84% 24.52% -82.38% -44.12%
Enterprise Value (EV) 1 1,041 924.3 836.5 902.1 550 520.5
Change - -11.21% -9.49% 7.84% -39.03% -5.37%
P/E -3.61x -4.51x -2.91x -2.72x -0.74x -0.16x
PBR 0.88x 0.68x 0.58x 0.94x 0.24x 1.09x
PEG - 0.1x -0.2x -0.1x 0x -0x
Capitalization / Revenue 2.65x 2.3x 3.12x 2.97x 0.78x 0.57x
EV / Revenue 4.38x 5x 8.27x 6.82x 6.2x 7.7x
EV / EBITDA -32.3x -431x 94x -13x 212x -47.7x
EV / EBIT -20.1x -38.8x -67.7x -9.81x -26.9x -15.1x
EV / FCF -2.87x -18.2x -117x 14.9x 5.2x 11.8x
FCF Yield -34.9% -5.5% -0.86% 6.72% 19.2% 8.45%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.0858 -0.0464 -0.0533 -0.0709 -0.046 -0.1176
Distribution rate - - - - - -
Net sales 1 237.5 184.8 101.1 132.2 88.73 67.63
EBITDA 1 -32.25 -2.145 8.903 -69.61 2.595 -10.92
EBIT 1 -51.75 -23.82 -12.36 -91.94 -20.42 -34.44
Net income 1 -174.3 -94.28 -108.3 -144.1 -93.43 -239
Net Debt 1 410.8 499.5 521.5 509.8 480.9 481.9
Reference price 2 0.3100 0.2090 0.1550 0.1930 0.0340 0.0190
Nbr of stocks (in thousands) 2,032,571 2,032,571 2,032,571 2,032,571 2,032,571 2,032,571
Announcement Date 25/04/19 12/05/20 29/04/21 28/04/22 27/04/23 07/05/24
1HKD in Million2HKD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 3.37M
33.37x11.82x21.6x0.83% 121B
44.42x7.41x32.22x1.66% 49.75B
26.61x1.24x14.04x-.--% 40.45B
22.07x1.86x9.02x1.39% 35.36B
29.3x2.07x14.38x1.6% 29.14B
29.22x4.45x17.75x-.--% 28.31B
10.72x6x16.63x1.39% 27.03B
31.38x4.81x19.22x0.73% 18.4B
24.36x3.11x13.01x-.--% 17.16B
Average 27.94x 4.75x 17.54x 0.84% 36.64B
Weighted average by Cap. 30.20x 6.56x 19.23x 0.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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