Tristate Holdings Ltd
HKEX:458

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Tristate Holdings Ltd
HKEX:458
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Price: 2.05 HKD Market Closed
Market Cap: HK$560.6m

EV/EBIT

1.7
Current
19%
More Expensive
vs 3-y average of 1.4

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
1.7
=
Enterprise Value
HK$447.7m
/
EBIT
HK$269.8m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
1.7
=
Enterprise Value
HK$447.7m
/
EBIT
HK$269.8m

Valuation Scenarios

Tristate Holdings Ltd is trading above its 3-year average

If EV/EBIT returns to its 3-Year Average (1.4), the stock would be worth HK$1.72 (16% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-34%
Maximum Upside
+520%
Average Upside
196%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 1.7 HK$2.05
0%
3-Year Average 1.4 HK$1.72
-16%
5-Year Average 1.1 HK$1.36
-34%
Industry Average 6.9 HK$8.48
+314%
Country Average 10.3 HK$12.71
+520%

Forward EV/EBIT
Today’s price vs future ebit

Not enough data available to calculate forward EV/EBIT

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
HK
Tristate Holdings Ltd
HKEX:458
560.6m HKD 1.7 4.5
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
234.1B EUR 14.3 21.5
FR
Hermes International SCA
PAR:RMS
172.8B EUR 24.3 38.2
KR
SBW
KRX:102280
235.5T KRW -58 109.2 -117 637.1
CH
Compagnie Financiere Richemont SA
SIX:CFR
88.6B CHF 20.1 23.8
FR
EssilorLuxottica SA
PAR:EL
85.9B EUR 28.2 37.1
FR
Christian Dior SE
PAR:CDI
80.1B EUR 5.9 17.7
IN
Titan Company Ltd
NSE:TITAN
4T INR 56.5 82.1
FR
Kering SA
PAR:KER
29.4B EUR 24.7 413
CN
ANTA Sports Products Ltd
HKEX:2020
235.3B HKD 10.1 14.9
US
Tapestry Inc
NYSE:TPR
29.7B USD 19.2 56.8
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
HK
Tristate Holdings Ltd
HKEX:458
Average EV/EBIT: 20.5
1.7
N/A N/A
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
14.3
8%
1.8
FR
Hermes International SCA
PAR:RMS
24.3
9%
2.7
KR
SBW
KRX:102280
Negative Multiple: -58 109.2 N/A N/A
CH
Compagnie Financiere Richemont SA
SIX:CFR
20.1
10%
2
FR
EssilorLuxottica SA
PAR:EL
28.2
23%
1.2
FR
Christian Dior SE
PAR:CDI
5.9
N/A N/A
IN
Titan Company Ltd
NSE:TITAN
56.5
29%
1.9
FR
Kering SA
PAR:KER
24.7
23%
1.1
CN
ANTA Sports Products Ltd
HKEX:2020
10.1
7%
1.4
US
Tapestry Inc
NYSE:TPR
19.2
13%
1.5

Market Distribution

Lower than 90% of companies in Hong Kong
Percentile
10th
Based on 1 277 companies
10th percentile
1.7
Low
0 — 5.4
Typical Range
5.4 — 15.8
High
15.8 —
Distribution Statistics
Hong Kong
Min 0
30th Percentile 5.4
Median 10.3
70th Percentile 15.8
Max 9 749.3

Tristate Holdings Ltd
Glance View

Tristate Holdings Ltd. engages in the manufacture, distribution and trade of garments and branded products. Along with subsidiaries, the Company operates its business through two segments. The Garment Manufacturing segment is engaged in the manufacturing of garment, including outerwear and dress up garment. The Branded Product Distribution, Retail and Trading segment is engaged in the distribution, retail and trading of branded products. The brands under the Company include C.P.Company, Cissonne and Motion for Engineere (EFM), among others. The firm distributes its products within the domestic market and to overseas markets, including United States, Canada, and United Kingdom.

Intrinsic Value
8.37 HKD
Undervaluation 75%
Intrinsic Value
Price HK$2.05
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