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Nongfu Spring Co Ltd
HKEX:9633

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Nongfu Spring Co Ltd
HKEX:9633
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Price: 46.92 HKD -0.85% Market Closed
Market Cap: HK$527.7B

EV/EBITDA

18.8
Current
20%
Cheaper
vs 3-y average of 23.6

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

EV/EBITDA
18.8
=
Enterprise Value
HK$484B
/
EBITDA
¥24B

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

EV/EBITDA
18.8
=
Enterprise Value
HK$484B
/
EBITDA
¥24B

Valuation Scenarios

Nongfu Spring Co Ltd is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (23.6), the stock would be worth HK$58.88 (25% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-19%
Maximum Upside
+56%
Average Upside
29%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 18.8 HK$46.92
0%
3-Year Average 23.6 HK$58.88
+25%
5-Year Average 29.3 HK$73.05
+56%
Industry Average 15.2 HK$37.93
-19%
Country Average 28.8 HK$71.78
+53%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
HK$484B
/
Jan 2026
¥24B
=
18.8
Current
HK$484B
/
Dec 2026
¥26.9B
=
18
Forward
HK$484B
/
Dec 2027
¥30.2B
=
16
Forward
HK$484B
/
Dec 2028
¥33.3B
=
14.6
Forward
HK$484B
/
Dec 2029
¥36B
=
13.4
Forward
HK$484B
/
Dec 2030
¥39.2B
=
12.4
Forward
HK$484B
/
Dec 2031
¥43.2B
=
11.2
Forward
HK$484B
/
Dec 2032
¥45.7B
=
10.6
Forward
HK$484B
/
Dec 2033
¥47.6B
=
10.2
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
CN
Nongfu Spring Co Ltd
HKEX:9633
532.2B HKD 18.8 30.6
US
Coca-Cola Co
NYSE:KO
329.7B USD 22.5 25.2
US
PepsiCo Inc
NASDAQ:PEP
212.6B USD 13.1 24.3
MX
Fomento Economico Mexicano SAB de CV
NYSE:FMX
203.5B USD 31.3 181.2
US
Monster Beverage Corp
NASDAQ:MNST
76.5B USD 29.1 40.2
UK
Coca-Cola Europacific Partners PLC
NASDAQ:CCEP
44B USD 12.8 19.7
US
Keurig Dr Pepper Inc
NASDAQ:KDP
39.7B USD 12.7 19.1
MX
Coca-Cola Femsa SAB de CV
NYSE:KOF
21.5B USD 7.7 15.6
MX
Arca Continental SAB de CV
BMV:AC
361B MXN 7.5 18.5
CH
Coca Cola HBC AG
LSE:CCH
15.2B GBP 10.1 18.5
IN
Varun Beverages Ltd
NSE:VBL
1.6T INR 32.4 54.7

Market Distribution

In line with most companies in China
Percentile
34th
Based on 5 409 companies
34th percentile
18.8
Low
0 — 16.3
Typical Range
16.3 — 53.1
High
53.1 —
Distribution Statistics
China
Min 0
30th Percentile 16.3
Median 28.8
70th Percentile 53.1
Max 49 021

Nongfu Spring Co Ltd
Glance View

In the bustling and competitive landscape of China's beverage industry, Nongfu Spring Co Ltd has emerged as a quintessential story of ingenuity and adaptation. Founded in 1996 by businessman Zhong Shanshan, the company originated with a simple yet profound mission—to provide naturally healthy water to the masses. Nongfu Spring has carved out its niche by tapping into the vast natural reserves of pristine water sources across China, capitalizing on the consumer shift towards health-conscious products. Emphasizing its motto, "We are the porters of nature," Nongfu Spring ensures their bottled water retains a pure and natural essence. Their distinctive red-capped bottles have become synonymous with trust and quality, securing a dominant presence in the Chinese market, where it leads in packaged water sales. Nongfu Spring's business acumen extends beyond just bottled water. Its product diversification strategy includes the development and marketing of a variety of beverages such as tea and functional drinks, along with vitamin-infused beverages. This strategic expansion has allowed the company to capture various consumer segments and maintain robust revenue streams. Alongside their innovative product offerings, Nongfu Spring has leveraged strategic branding and distribution channels, ensuring their abundant presence from rural convenience stores to urban supermarkets across China. With a profound understanding of local consumer preferences and an agile approach to market trends, Nongfu Spring Co Ltd continues to draw a lucrative profit from its ability to align its innovative products with the health and wellness aspirations of its consumers.

Intrinsic Value
48.58 HKD
Undervaluation 3%
Intrinsic Value
Price HK$46.92
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