TK Group (Holdings) Limited (2283.HK)

Industry: Chemicals - Specialty Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
TOA.BK	178	TOA Paint (Thailan	677	10.77	10.33	6.30	5.95	7.35	7.34
002669.SZ	179	Kangda New Materia	663	-	-	23,067.99	93,571.80	84.10	-
4410.T	180	Harima Chemicals G	662	21.58	21.63	9.48	8.67	16.46	22.08
4628.T	181	Sk Kaken Co.,Ltd.	661	11.80	10.71	1.55	1.57	1.14	1.51
688363.SS	182	Bloomage BioTechno	660	410.23	642.07	129.57	167.22	484.48	804.26
ATUL.BO	183	Atul Ltd	653	32.90	33.60	18.36	17.88	24.06	14.83
REX	184	REX American Resou	651	21.18	12.68	19.10	16.49	7.31	14.62
2283.HK	185	TK Group (Holdings	638	3.78	3.43	1.19	1.06	2.87	1.79
4046.T	186	Osaka Soda Co., Lt	638	21.35	19.23	10.00	9.24	12.31	12.82
PRM	187	Perimeter Solution	636	42.12	42.12	30.81	30.81	-	-
002442.SZ	188	Longxing Chemical	634	33.77	24.00	26.77	26.72	48.48	29.66
300082.SZ	189	Liaoning Oxiranche	629	-	-	160.61	285.68	74.03	-
OCI.AS	190	OCI N.V.	627	0.37	0.37	-	-	-	-
WDFC	191	WD-40 Company	620	32.13	29.63	25.64	24.30	25.64	26.10
300285.SZ	192	Shandong Sinocera	619	36.15	35.48	22.60	21.50	31.01	27.90
300041.SZ	193	Hubei Huitian New	602	42.43	45.01	30.47	31.25	22.56	38.56

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	21.58	21.63	20.85	19.69	22.56	14.83
Full Range Median Multiple	32.13	24.00	24.12	22.90	24.06	22.08
Industry Multiple	55.14	71.30	1,682.81	6,729.93	64.53	90.88
Market Implied Multiple	4.28	3.88	1.47	1.31	3.55	2.21
Company (2283.HK) Multiple	3.78	3.43	1.19	1.06	2.87	1.79
(*) Net Income / EBITDA / Revenue	71	78	125	140	52	83
Winsorized Enterprise Value	N/A	N/A	2,608	2,763	1,165	1,232
Full Range Median Enterprise Value	N/A	N/A	3,018	3,214	1,242	1,834
(-) Net Debt	-119	-119	-119	-119	-119	-119
Winsorized Equity Value	1,526	1,684	2,727	2,882	1,284	1,351
Full Range Median Equity Value	2,271	1,868	3,136	3,333	1,361	1,953
(/) Shares Outstanding	118	118	118	118	118	118
Winsorized Fair Value	$12.97	$14.31	$23.18	$24.49	$10.91	$11.48
Full Range Median Fair Value	$19.30	$15.87	$26.65	$28.32	$11.57	$16.59
Current Price	$2.57	$2.57	$2.57	$2.57	$2.57	$2.57
Upside / Downside	404.49%	456.69%	801.77%	852.99%	324.57%	346.57%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$9.08	$10.01	$16.22	$17.14	$7.64	$8.03
Buy / Don't Buy	BUY	BUY	BUY	BUY	BUY	BUY