ASSOCIATED INTERNATIONAL HOTELS LIMITED Financials Associated International Hotels Limited
Equities
105
HK0105000613
Real Estate Development & Operations
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5.06 HKD | -4.53% |
|
-3.62% | -20.31% |
| Feb. 26 | Tian Teck Land Names Chief Investment Officer | MT |
| Feb. 26 | Associated International Hotels Names Chief Engineering Officer | MT |
Valuation
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 9,162 | 8,280 | 6,084 | 4,946 | 4,500 | 3,373 |
| Enterprise Value (EV) 1 | 8,843 | 7,969 | 5,862 | 4,773 | 4,259 | 3,121 |
| P/E ratio | 57.5 x | 55.8 x | -6.66 x | -3.24 x | -4.02 x | -2.13 x |
| Yield | 4.68% | 5% | 4.79% | 3.2% | 3.2% | 3.63% |
| Capitalization / Revenue | 14.5 x | 13.6 x | 10.3 x | 11.4 x | 14.9 x | 11.3 x |
| EV / Revenue | 14 x | 13.1 x | 9.96 x | 11 x | 14.1 x | 10.4 x |
| EV / EBITDA | 17.1 x | 16.1 x | 12.5 x | 15.2 x | 23.8 x | 17.3 x |
| EV / FCF | 19.6 x | 27.1 x | 28.7 x | 88.8 x | 26.8 x | 42 x |
| FCF Yield | 5.09% | 3.69% | 3.49% | 1.13% | 3.74% | 2.38% |
| Price to Book | 0.66 x | 0.61 x | 0.5 x | 0.47 x | 0.48 x | 0.44 x |
| Nbr of stocks (in thousands) | 360,000 | 360,000 | 360,000 | 360,000 | 360,000 | 360,000 |
| Reference price 2 | 25.45 | 23.00 | 16.90 | 13.74 | 12.50 | 9.370 |
| Announcement Date | 7/26/18 | 7/25/19 | 7/23/20 | 7/22/21 | 7/21/22 | 7/27/23 |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 632.5 | 610.6 | 588.6 | 434.2 | 301.3 | 299.3 |
| EBITDA 1 | 517.1 | 494.4 | 468.9 | 313.7 | 179.2 | 180.6 |
| EBIT 1 | 512.4 | 489.9 | 464.7 | 309.4 | 175 | 176.3 |
| Operating Margin | 81.01% | 80.24% | 78.96% | 71.26% | 58.08% | 58.9% |
| Earnings before Tax (EBT) 1 | 243.5 | 228.9 | -835.8 | -1,475 | -1,092 | -1,556 |
| Net income 1 | 159.3 | 148.5 | -912.9 | -1,526 | -1,121 | -1,585 |
| Net margin | 25.19% | 24.32% | -155.1% | -351.35% | -371.96% | -529.5% |
| EPS 2 | 0.4426 | 0.4125 | -2.536 | -4.238 | -3.113 | -4.402 |
| Free Cash Flow 1 | 450.4 | 294.2 | 204.3 | 53.77 | 159.1 | 74.22 |
| FCF margin | 71.2% | 48.18% | 34.72% | 12.38% | 52.8% | 24.8% |
| FCF Conversion (EBITDA) | 87.1% | 59.5% | 43.57% | 17.14% | 88.77% | 41.09% |
| FCF Conversion (Net income) | 282.69% | 198.1% | - | - | - | - |
| Dividend per Share 2 | 1.190 | 1.150 | 0.8100 | 0.4400 | 0.4000 | 0.3400 |
| Announcement Date | 7/26/18 | 7/25/19 | 7/23/20 | 7/22/21 | 7/21/22 | 7/27/23 |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 319 | 311 | 222 | 174 | 241 | 252 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | 450 | 294 | 204 | 53.8 | 159 | 74.2 |
| ROE (net income / shareholders' equity) | 1.14% | 1.08% | -7.05% | -13.3% | -11.3% | -18.7% |
| ROA (Net income/ Total Assets) | 2.21% | 2.15% | 2.16% | 1.62% | 1.05% | 1.23% |
| Assets 1 | 7,220 | 6,909 | -42,276 | -94,051 | -106,872 | -128,534 |
| Book Value Per Share 2 | 38.50 | 37.80 | 34.10 | 29.40 | 25.90 | 21.20 |
| Cash Flow per Share 2 | 1.440 | 1.420 | 1.170 | 1.040 | 1.220 | 1.260 |
| Capex 1 | 0.52 | 1.61 | 0.99 | 0.67 | 0.85 | 1.88 |
| Capex / Sales | 0.08% | 0.26% | 0.17% | 0.15% | 0.28% | 0.63% |
| Announcement Date | 7/26/18 | 7/25/19 | 7/23/20 | 7/22/21 | 7/21/22 | 7/27/23 |
1HKD in Million2HKD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -20.31% | 244M | |
| +40.41% | 28.24B | |
| -12.37% | 26.95B | |
| +23.41% | 26.45B | |
| +6.25% | 25.93B | |
| +49.25% | 22.95B | |
| +9.16% | 20.4B | |
| -0.25% | 18.55B | |
| +28.90% | 16.22B | |
| -13.27% | 15.1B |
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- Financials Associated International Hotels Limited
