Company Valuation: Netjoy Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024
Market Cap 1 4,985 1,685 879.8 414.9 416.8
Change - -66.19% -47.8% -52.84% 0.46%
Enterprise Value (EV) 1 4,166 1,913 1,156 403.6 530.4
Change - -54.08% -39.58% -65.08% 31.43%
P/E 36.5x 14.4x -4.83x 48.7x -0.91x
PBR 3.31x 1.06x 0.64x 0.3x 0.44x
PEG 0.9x -1x 0x -0x 0x
Capitalization / Revenue 1.93x 0.54x 0.27x 0.14x 0.13x
EV / Revenue 1.62x 0.61x 0.35x 0.13x 0.17x
EV / EBITDA 37.3x 17.7x -5.6x 85.6x -2.68x
EV / EBIT 38x 18.2x -5.5x 309x -2.65x
EV / FCF -14.7x -1.83x 12.5x 1.16x 3.89x
FCF Yield -6.78% -54.8% 8% 86.5% 25.7%
Dividend per Share 2 - 0.0407 - - -
Rate of return - 1.92% - - -
EPS 2 0.1705 0.1471 -0.2288 0.011 -0.602
Distribution rate - 27.7% - - -
Net sales 1 2,577 3,122 3,310 3,010 3,150
EBITDA 1 111.7 108.2 -206.5 4.712 -198
EBIT 1 109.6 105 -210.1 1.304 -200.4
Net income 1 103.6 117.4 -178.1 8.796 -459.7
Net Debt 1 -818.7 227.7 276 -11.3 113.6
Reference price 2 6.2311 2.1181 1.1057 0.5355 0.5450
Nbr of stocks (in thousands) 800,000 795,658 795,658 774,637 764,709
Announcement Date 28/4/21 28/4/22 27/4/23 25/4/24 10/7/26
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 44.16M
12.9x1.41x6.39x4.34% 25.7B
9.23x1.08x5.72x4.38% 23.49B
12.24x5.4x9.8x7.17% 10.98B
15.97x1.22x4.13x3.14% 5.29B
17.16x0.61x5.92x1.4% 4.56B
9.17x0.66x3.94x5.09% 4.23B
-34.41x1.38x5.86x-.--% 3.27B
Average 6.04x 1.68x 5.97x 3.65% 9.69B
Weighted average by Cap. 9.96x 1.77x 6.33x 4.35%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Netjoy Holdings Limited