Financials Dah Sing Financial Holdings Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
21.6 ^HKD	+0.47%		+8.32%	+35.00%

Apr. 01	Dah Sing Financial Logs 30% Rise in 2023 Profit	MT
Mar. 28	Dah Sing Financial Holdings Limited Proposes Final Ordinary Dividend for the Financial Year End 31 December 2023, Payable on June 20, 2024	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	12,967	9,811	6,983	7,542	5,778	6,903	6,903	-
Enterprise Value (EV) ¹	12,967	9,811	6,983	7,542	5,778	5,113	6,903	6,903
P/E ratio	6.77 x	5.81 x	6.04 x	5.77 x	5.27 x	3.89 x	4.18 x	3.88 x
Yield	3.8%	4.79%	4.3%	4.49%	6.31%	12.5%	10.4%	10.8%
Capitalization / Revenue	2.2 x	1.75 x	1.18 x	1.25 x	0.79 x	0.82 x	1.04 x	1.01 x
EV / Revenue	2.2 x	1.75 x	1.18 x	1.25 x	0.79 x	0.82 x	1.04 x	1.01 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.51 x	0.37 x	0.25 x	0.25 x	0.2 x	0.16 x	0.2 x	0.2 x
Nbr of stocks (in thousands)	335,075	319,575	319,575	319,575	319,575	319,575	319,575	-
Reference price ²	38.70	30.70	21.85	23.60	18.08	21.60	21.60	21.60
Announcement Date	3/27/19	3/25/20	3/24/21	3/31/22	3/31/23	3/28/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	5,906	5,604	5,923	6,014	7,315	6,243	6,612	6,818
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	3,094	2,621	2,551	2,471	3,830	2,993	3,196	3,262
Operating Margin	52.38%	46.76%	43.08%	41.08%	52.35%	47.95%	48.34%	47.84%
Earnings before Tax (EBT) ¹	2,983	2,628	1,886	2,058	1,964	2,356	2,586	2,780
Net income ¹	1,915	1,708	1,158	1,308	1,171	1,592	1,650	1,775
Net margin	32.43%	30.47%	19.55%	21.76%	16.01%	25.5%	24.95%	26.04%
EPS ²	5.720	5.280	3.620	4.090	3.430	4.110	5.173	5.566
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	1.470	1.470	0.9400	1.060	1.140	2.000	2.256	2.326
Announcement Date	3/27/19	3/25/20	3/24/21	3/31/22	3/31/23	3/28/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	7.6%	6.54%	4.2%	4.47%	3.92%	6%	4.96%	5.16%
ROA (Net income/ Total Assets)	1.1%	0.7%	0.46%	0.51%	0.45%	0.7%	0.6%	0.62%
Assets ¹	174,107	243,799	252,651	255,747	258,182	227,442	275,908	288,657
Book Value Per Share ²	75.90	82.90	88.80	94.50	92.40	102.0	106.0	110.0
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/27/19	3/25/20	3/24/21	3/31/22	3/31/23	3/28/24	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

21.6 HKD

Average target price

27.5 HKD

Spread / Average Target

+27.31%

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