Financials EEKA Fashion Holdings Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:06 2024-04-30 am EDT			5-day change	1st Jan Change
13 ^HKD	+1.72%		+4.17%	-8.32%

Apr. 16	EEKA Fashion Sales Show Single-Digit Growth in Q1	MT
Mar. 26	EEKA Fashion's Attributable Profit Jumps in 2023; Shares Fall 6%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,559	8,245	7,389	6,673	8,706	8,196	-	-
Enterprise Value (EV) ¹	5,336	8,029	7,371	6,673	8,706	7,400	6,902	8,196
P/E ratio	11.8 x	18.2 x	13.3 x	17.8 x	10.6 x	9.22 x	7.62 x	6.88 x
Yield	1.8%	2.66%	3.73%	-	-	7.55%	8.8%	-
Capitalization / Revenue	1.34 x	1.55 x	1.16 x	1.18 x	1.26 x	1.05 x	0.89 x	0.84 x
EV / Revenue	1.29 x	1.51 x	1.16 x	1.18 x	1.26 x	0.95 x	0.75 x	0.84 x
EV / EBITDA	8.84 x	11.4 x	4.52 x	4.53 x	4.31 x	3.56 x	2.88 x	3.25 x
EV / FCF	-	-	7.16 x	-	-	4.66 x	4.2 x	4.85 x
FCF Yield	-	-	14%	-	-	21.4%	23.8%	20.6%
Price to Book	1.51 x	2.34 x	1.85 x	-	-	1.62 x	1.54 x	1.3 x
Nbr of stocks (in thousands)	685,050	685,050	681,867	674,570	675,466	681,238	-	-
Reference price ²	8.115	12.04	10.84	9.892	12.89	12.03	12.03	12.03
Announcement Date	3/31/20	3/26/21	3/25/22	3/29/23	3/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,148	5,325	6,355	5,663	6,912	7,807	9,254	9,806
EBITDA ¹	603.7	706.1	1,632	1,471	2,021	2,079	2,397	2,524
EBIT ¹	515.3	572.9	754	523.4	1,043	1,130	1,356	1,433
Operating Margin	12.42%	10.76%	11.87%	9.24%	15.09%	14.47%	14.65%	14.61%
Earnings before Tax (EBT) ¹	489.3	526.1	713.7	464.4	994.6	1,111	1,305	1,422
Net income ¹	405.6	452.8	564	382.4	838.2	904.8	1,104	1,227
Net margin	9.78%	8.5%	8.88%	6.75%	12.13%	11.59%	11.93%	12.51%
EPS ²	0.6900	0.6600	0.8140	0.5550	1.219	1.306	1.579	1.748
Free Cash Flow ¹	-	-	1,030	-	-	1,586	1,644	1,689
FCF margin	-	-	16.21%	-	-	20.32%	17.76%	17.22%
FCF Conversion (EBITDA)	-	-	63.13%	-	-	76.31%	68.56%	66.92%
FCF Conversion (Net income)	-	-	182.63%	-	-	175.33%	148.91%	137.67%
Dividend per Share ²	0.1462	0.3200	0.4042	-	-	0.9077	1.059	-
Announcement Date	3/31/20	3/26/21	3/25/22	3/29/23	3/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	223	216	18.1	-	-	796	1,294	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	1,030	-	-	1,586	1,644	1,689
ROE (net income / shareholders' equity)	18.6%	13.7%	15.3%	-	-	18.4%	20.6%	19.1%
ROA (Net income/ Total Assets)	-	-	15.2%	-	-	12.1%	12.5%	13.1%
Assets ¹	-	-	3,706	-	-	7,478	8,829	9,402
Book Value Per Share ²	5.370	5.150	5.850	-	-	7.410	7.800	9.230
Cash Flow per Share ²	1.190	-2.110	1.790	-	-	2.610	2.960	-
Capex ¹	99.1	111	173	-	-	191	183	203
Capex / Sales	2.39%	2.08%	2.72%	-	-	2.45%	1.97%	2.07%
Announcement Date	3/31/20	3/26/21	3/25/22	3/29/23	3/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.03 CNY

Average target price

16.23 CNY

Spread / Average Target

+34.90%

	1st Jan change	Capi.
EEKA FASHION HOLDINGS LIMITED	-8.32%	1.11B
SHIMAMURA CO., LTD.	-1.00%	3.65B
ARITZIA INC.	+29.60%	2.88B
VICTORIA'S SECRET & CO.	-33.61%	1.38B
GO FASHION (INDIA) LIMITED	-11.94%	729M
TORRID HOLDINGS INC.	-12.13%	526M
SHENZHEN ELLASSAY FASHION CO.,LTD.	-15.16%	405M
SAI SILKS (KALAMANDIR) LIMITED	-25.44%	353M
HONEYS HOLDINGS CO., LTD.	-2.23%	304M
J.JILL, INC.	-3.34%	278M