Company Valuation: Willas-Array Electronics (Holdings) Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 207.2 348.6 243.6 155.6 226.3 518.1
Change - 68.27% -30.14% -36.12% 45.48% 128.9%
Enterprise Value (EV) 1 625.4 637.2 541.1 707.5 807.1 991.6
Change - 1.89% -15.09% 30.76% 14.08% 22.87%
P/E -2.86x 3.76x 2.93x 57.3x -2.76x 9.36x
PBR 0.36x 0.51x 0.31x 0.23x 0.54x 1.02x
PEG - -0x -0.2x -0.6x 0x -0x
Capitalization / Revenue 0.07x 0.1x 0.07x 0.05x 0.09x 0.22x
EV / Revenue 0.2x 0.18x 0.16x 0.23x 0.33x 0.42x
EV / EBITDA -29.1x 5.58x 3.99x 8.58x -17.6x 12.6x
EV / EBIT -17.6x 6.37x 4.45x 10.5x -13.6x 14.7x
EV / FCF 1.63x 6.77x -184x -4.53x 6.04x 20.3x
FCF Yield 61.3% 14.8% -0.54% -22.1% 16.6% 4.92%
Dividend per Share 2 - 0.33 0.33 - - -
Rate of return - 8.09% 11.9% - - -
EPS 2 -0.8515 1.085 0.9502 0.031 -0.9367 0.5376
Distribution rate - 30.4% 34.7% - - -
Net sales 1 3,175 3,558 3,426 3,135 2,439 2,358
EBITDA 1 -21.48 114.1 135.6 82.45 -45.83 78.69
EBIT 1 -35.61 100.1 121.5 67.48 -59.3 67.34
Net income 1 -72.55 92.48 82.19 2.716 -82.13 50.96
Net Debt 1 418.2 288.6 297.5 551.9 580.7 473.5
Reference price 2 2.432 4.078 2.780 1.776 2.581 5.031
Nbr of stocks (in thousands) 85,207 85,502 87,622 87,622 87,692 102,989
Announcement Date 24/6/20 25/6/21 28/7/22 30/6/23 3/6/25 31/3/26
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 86.11M
36.83x12.7x23.69x0.77% 117B
62.65x9.16x44.06x1.19% 53.9B
32.03x1.51x17.21x-.--% 48.19B
27.94x2.27x10.89x1.19% 39.36B
36.58x2.27x16.21x1.47% 30.22B
31.66x4.79x19.13x-.--% 29.73B
9.31x5.37x10.34x2.08% 22.87B
32.41x4.98x19.93x0.71% 18.85B
38.62x2.01x18.27x0.44% 17.93B
Average 34.22x 5.01x 19.97x 0.87% 37.82B
Weighted average by Cap. 36.75x 6.89x 22.23x 0.83%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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