Tongcheng Travel Holdings Ltd
HKEX:780

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Tongcheng Travel Holdings Ltd Logo
Tongcheng Travel Holdings Ltd
HKEX:780
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Price: 21.86 HKD -1% Market Closed
Market Cap: 51.3B HKD

DCF Value

This DCF valuation model was created by Alpha Spread and was last updated on Dec 16, 2025.

Estimated DCF Value of one 780 stock is 39.13 HKD. Compared to the current market price of 21.86 HKD, the stock is Undervalued by 44%.

DCF Value
Base Case
39.13 HKD
Undervaluation 44%
DCF Value
Price
Worst Case
Base Case
Best Case
39.13
DCF Value
Worst Case
Base Case
Best Case
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DCF Value: 39.13 HKD

Present Value Calculation

This block is the starting point of the DCF valuation process. It calculates the present value of a company's forecasted cash flows based on selected operating model. Adjust key parameters like discount rate and terminal growth, and alter inputs such as revenue growth and margins to see their impact on valuation.

DCF Model
Base Case Scenario

The present value of cash flows over the next 5 years amounts to 18.1B CNY. The present value of the terminal value is 53.3B CNY. The total present value equals 71.3B CNY.
Forecast Period
Years
Discount Rate
%
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Terminal Growth
%
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DCF Value Calculation

This stage translates the present value into DCF value per share. For firm valuation models, it adjusts present value for debt and assets to derive equity value (skipped if using equity valuation model). Finally, this equity value is divided by the number of shares to determine the DCF value per share.

Present Value to DCF Value
Capital Structure

Present Value 71.3B CNY
+ Cash & Equivalents 5.8B CNY
+ Investments 10.8B CNY
Firm Value 87.9B CNY
- Debt 3.7B CNY
- Minority Interest 997.7m CNY
Equity Value 83.2B CNY
/ Shares Outstanding 2.3B
Value per Share 35.44 CNY
CNY / HKD Exchange Rate 1.1042
780 DCF Value 39.13 HKD
Undervalued by 44%

Valuation Analysis

Sensitivity Analysis
DCF Value Sensitivity Analysis

Sensitivity Analysis assesses how changes in key factors like revenue growth, margin, and discount rate affect a stock's DCF value. By visualizing various scenarios, from significant downturns to optimistic growth, this tool helps you understand potential valuation shifts, aiding in risk assessment and strategic decision-making.

DCF Financials
Financials used in DCF Calculation

Revenue
21.4B 29.5B
Operating Income
4B 6.1B
FCFF
3.7B 4.9B

What is the DCF value of one 780 stock?

Estimated DCF Value of one 780 stock is 39.13 HKD. Compared to the current market price of 21.86 HKD, the stock is Undervalued by 44%.

The true DCF Value lies somewhere between the worst-case and best-case scenario values. This is because the future is not predetermined, and the stock's DCF Value is based almost entirely on the future of the company. Knowing the full range of possible stock DCF values gives a complete picture of the investment risks and opportunities.

How was the DCF Value calculated?

1. Present Value Calculation. Utilizing the DCF operating model, Tongcheng Travel Holdings Ltd's future cash flows are projected and then discounted using a chosen discount rate to determine its Present Value, which is calculated at 71.3B CNY.

2. DCF Value Calculation. The company's capital structure is employed to derive the total Equity Value from the previously calculated Present Value of the cash flow. This Equity Value, when divided by the total number of outstanding shares, yields the DCF Value of 39.13 HKD per share.

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