Meituan
HKEX:3690

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Meituan
HKEX:3690
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Price: 177.7 HKD 2.48%
Market Cap: 1.1T HKD
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Relative Value

The Relative Value of one Meituan stock under the Base Case scenario is 202.98 HKD. Compared to the current market price of 177.7 HKD, Meituan is Undervalued by 12%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

Relative Value
Base Case
202.98 HKD
Undervaluation 12%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
66
vs Industry
11
Median 3Y
3
Median 5Y
4.4
Industry
0.5
Forward
2.9
vs History
50
vs Industry
9
Median 3Y
29
Median 5Y
32.9
Industry
16.1
Forward
22.9
vs History
42
vs Industry
14
Median 3Y
19.5
Median 5Y
34
Industry
7.7
vs History
49
vs Industry
20
Median 3Y
31.2
Median 5Y
37.3
Industry
14.7
vs History
53
vs Industry
13
Median 3Y
5.8
Median 5Y
6.5
Industry
1.6
vs History
68
vs Industry
14
Median 3Y
2.7
Median 5Y
4.1
Industry
0.7
Forward
2.6
vs History
71
vs Industry
16
Median 3Y
8
Median 5Y
14.6
Industry
2.2
vs History
47
vs Industry
9
Median 3Y
25.1
Median 5Y
25.8
Industry
8.3
Forward
18.9
vs History
41
vs Industry
9
Median 3Y
25.1
Median 5Y
24.6
Industry
12.4
Forward
20.3
vs History
42
vs Industry
19
Median 3Y
16.8
Median 5Y
30.3
Industry
9
vs History
28
vs Industry
23
Median 3Y
16.8
Median 5Y
15.9
Industry
12.5
vs History
57
vs Industry
7
Median 3Y
6.1
Median 5Y
7.3
Industry
1

Multiples Across Competitors

Competitors Multiples
Meituan Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
CN
Meituan
HKEX:3690
1.1T HKD 3 30.9 26.9 26.9
US
Amazon.com Inc
NASDAQ:AMZN
2.1T USD 3.3 35.4 17 30.1
ZA
Naspers Ltd
JSE:NPN
965.5B Zac 0 0 0 0
CN
Alibaba Group Holding Ltd
NYSE:BABA
335.2B USD 2.5 20.2 16.5 16.5
CN
Pinduoduo Inc
NASDAQ:PDD
170.2B USD 3.3 11.4 8.8 8.8
NL
Prosus NV
AEX:PRX
106.2B EUR 19.7 14.8 2 900.5 2 900.5
AR
Mercadolibre Inc
NASDAQ:MELI
102B USD 4.9 53.4 30.1 37.2
UY
MercadoLibre Inc
BMV:MELIN
2T MXN 4.9 53.5 30.2 37.3
US
DoorDash Inc
NASDAQ:DASH
77B USD 7.2 626.1 118.3 1 592.7
CN
JD.Com Inc
HKEX:9618
480.1B HKD 0.4 12.8 8.5 8.5
KR
Coupang Inc
NYSE:CPNG
40.5B USD 1.3 263.3 41.6 82.9
P/S Multiple
Revenue Growth P/S to Growth
CN
Meituan
HKEX:3690
Average P/S: 5.1
3
18%
0.2
US
Amazon.com Inc
NASDAQ:AMZN
3.3
11%
0.3
ZA
N
Naspers Ltd
JSE:NPN
Not Available
12%
N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
2.5
8%
0.3
CN
Pinduoduo Inc
NASDAQ:PDD
3.3
34%
0.1
NL
Prosus NV
AEX:PRX
19.7
14%
1.4
AR
Mercadolibre Inc
NASDAQ:MELI
4.9
23%
0.2
UY
MercadoLibre Inc
BMV:MELIN
4.9
23%
0.2
US
D
DoorDash Inc
NASDAQ:DASH
7.2
19%
0.4
CN
JD.Com Inc
HKEX:9618
0.4
6%
0.1
KR
Coupang Inc
NYSE:CPNG
1.3
15%
0.1
P/E Multiple
Earnings Growth PEG
CN
Meituan
HKEX:3690
Average P/E: 112.2
30.9
68%
0.5
US
Amazon.com Inc
NASDAQ:AMZN
35.4
20%
1.8
ZA
N
Naspers Ltd
JSE:NPN
Not Available
22%
N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
20.2
34%
0.6
CN
Pinduoduo Inc
NASDAQ:PDD
11.4
38%
0.3
NL
Prosus NV
AEX:PRX
14.8
20%
0.7
AR
Mercadolibre Inc
NASDAQ:MELI
53.4
26%
2.1
UY
MercadoLibre Inc
BMV:MELIN
53.5
26%
2.1
US
D
DoorDash Inc
NASDAQ:DASH
626.1
172%
3.6
CN
JD.Com Inc
HKEX:9618
12.8
0%
N/A
KR
Coupang Inc
NYSE:CPNG
263.3
115%
2.3
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CN
Meituan
HKEX:3690
Average EV/EBITDA: 319.8
26.9
63%
0.4
US
Amazon.com Inc
NASDAQ:AMZN
17
25%
0.7
ZA
N
Naspers Ltd
JSE:NPN
Not Available
162%
N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
16.5
13%
1.3
CN
Pinduoduo Inc
NASDAQ:PDD
8.8
44%
0.2
NL
Prosus NV
AEX:PRX
2 900.5
N/A N/A
AR
Mercadolibre Inc
NASDAQ:MELI
30.1
29%
1
UY
MercadoLibre Inc
BMV:MELIN
30.2
29%
1
US
D
DoorDash Inc
NASDAQ:DASH
118.3
90%
1.3
CN
JD.Com Inc
HKEX:9618
8.5
20%
0.4
KR
Coupang Inc
NYSE:CPNG
41.6
50%
0.8
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CN
Meituan
HKEX:3690
Average EV/EBIT: 474.1
26.9
92%
0.3
US
Amazon.com Inc
NASDAQ:AMZN
30.1
22%
1.4
ZA
N
Naspers Ltd
JSE:NPN
Not Available N/A N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
16.5
16%
1
CN
Pinduoduo Inc
NASDAQ:PDD
8.8
46%
0.2
NL
Prosus NV
AEX:PRX
2 900.5
N/A N/A
AR
Mercadolibre Inc
NASDAQ:MELI
37.2
34%
1.1
UY
MercadoLibre Inc
BMV:MELIN
37.3
34%
1.1
US
D
DoorDash Inc
NASDAQ:DASH
1 592.7
298%
5.3
CN
JD.Com Inc
HKEX:9618
8.5
23%
0.4
KR
Coupang Inc
NYSE:CPNG
82.9
68%
1.2