Binjiang Service Group Co. Ltd. (3316.HK)

Industry: Real Estate - Services 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
AZRG.TA	57	Azrieli Group Ltd	1,164	24.22	23.20	19.20	16.27	29.48	27.10
0798.HK	58	China Electronics	1,146	3.13	3.38	6.00	5.39	9.44	4.97
2780.T	59	Komehyo Holdings C	1,102	8.28	8.28	8.58	8.58	19.53	14.02
3254.T	60	Pressance Corporat	1,048	6.08	6.22	3.09	3.17	2.71	3.27
RDFN	61	Redfin Corporation	1,039	-	-	-	-	-	-
2156.HK	62	C&D Property Manag	1,038	3.96	3.96	0.50	0.50	0.53	0.52
DOUG	63	Douglas Elliman In	1,031	-	-	-	-	0.27	1.24
3316.HK	64	Binjiang Service G	1,027	5.38	5.38	3.37	3.37	3.15	3.45
600657.SS	65	Cinda Real Estate	1,025	-	-	-	-	-	-
6626.HK	66	Yuexiu Services Gr	969	4.75	4.75	1.34	1.34	1.53	1.43
4781.T	67	Nihon Housing Co.,	947	65.71	79.10	14.33	14.77	11.00	20.03
9347.T	68	NIPPON KANZAI Hold	939	13.99	13.99	5.96	5.96	9.73	7.77
601828.SS	69	Red Star Macalline	935	-	-	20.82	26.85	22.25	-
9979.HK	70	Greentown Manageme	932	3.42	3.42	1.81	1.81	3.01	1.98
3228.T	71	Sanei Architecture	927	15.62	17.74	3.26	3.35	2.69	3.00
3913.HK	72	KWG Living Group H	924	-	-	-0.23	-0.23	-0.13	-0.12

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	6.08	6.22	3.26	3.35	2.86	3.00
Full Range Median Multiple	7.18	7.25	5.96	5.39	6.22	3.27
Industry Multiple	14.92	16.41	7.72	8.00	9.35	7.76
Market Implied Multiple	5.72	5.72	3.64	3.64	3.40	3.73
Company (3316.HK) Multiple	5.38	5.38	3.37	3.37	3.15	3.45
(*) Net Income / EBITDA / Revenue	157	157	201	201	215	196
Winsorized Enterprise Value	N/A	N/A	654	672	614	589
Full Range Median Enterprise Value	N/A	N/A	1,196	1,082	1,337	642
(-) Net Debt	-167	-167	-167	-167	-167	-167
Winsorized Equity Value	953	977	821	839	781	756
Full Range Median Equity Value	1,127	1,138	1,364	1,249	1,504	809
(/) Shares Outstanding	39	39	39	39	39	39
Winsorized Fair Value	$24.30	$24.89	$20.93	$21.39	$19.92	$19.27
Full Range Median Fair Value	$28.72	$29.02	$34.76	$31.84	$38.34	$20.62
Current Price	$22.90	$22.90	$22.90	$22.90	$22.90	$22.90
Upside / Downside	6.13%	8.70%	-8.62%	-6.59%	-13.02%	-15.87%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$17.01	$17.43	$14.65	$14.97	$13.94	$13.49
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy