Yuexiu Services Group Limited (6626.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
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
ALREA.PA	73	Réalités	922	-	-	10.74	7.26	-	-
0014.HK	74	Hysan Development	922	-	-	17.34	19.04	13.64	16.83

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	5.73	5.80	3.37	3.37	3.01	3.27
Full Range Median Multiple	7.18	7.25	5.96	5.96	3.15	3.36
Industry Multiple	15.31	17.26	8.16	8.61	8.05	7.21
Market Implied Multiple	4.56	4.56	1.21	1.21	1.38	1.28
Company (6626.HK) Multiple	4.75	4.75	1.34	1.34	1.53	1.43
(*) Net Income / EBITDA / Revenue	107	107	155	155	135	146
Winsorized Enterprise Value	N/A	N/A	521	521	407	476
Full Range Median Enterprise Value	N/A	N/A	921	921	427	489
(-) Net Debt	-301	-301	-301	-301	-301	-301
Winsorized Equity Value	613	620	822	822	708	777
Full Range Median Equity Value	768	776	1,222	1,222	728	790
(/) Shares Outstanding	194	194	194	194	194	194
Winsorized Fair Value	$3.17	$3.21	$4.25	$4.25	$3.66	$4.01
Full Range Median Fair Value	$3.97	$4.01	$6.31	$6.31	$3.76	$4.08
Current Price	$2.52	$2.52	$2.52	$2.52	$2.52	$2.52
Upside / Downside	25.60%	27.22%	68.60%	68.60%	45.18%	59.29%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$2.22	$2.24	$2.97	$2.97	$2.56	$2.81
Buy / Don't Buy	Don’t Buy	Don’t Buy	BUY	BUY	BUY	BUY