The Discounted Cash Flow (DCF) valuation of Eagle Nice (International) Holdings Ltd (2368.HK) is 10.24 HKD. With the latest stock price at 3.54 HKD, the upside of Eagle Nice (International) Holdings Ltd based on DCF is 189.2%.

Is 2368.HK a buy or a sell?

Based on the latest price of 3.54 HKD and our DCF valuation, Eagle Nice (International) Holdings Ltd (2368.HK) is a buy. Buying 2368.HK stocks now will result in a potential gain of 189.2%.

	Range	Selected
WACC / Discount Rate	4.7% - 6.7%	5.7%
Long-term Growth Rate	0.0% - 1.0%	0.5%
Fair Price	7.77 - 14.69	10.24
Upside	119.4% - 315.1%	189.2%

3.54 HKD

Stock Price

10.24 HKD

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

2368.HK DCF Valuation: Revenue & Expenses Forecast

(HKD in millions)		Projections

	03-2024	03-2025	03-2026	03-2027	03-2028	03-2029

Revenue	4,075	4,433	4,596	4,796	5,073	5,520
% Growth	1%	9%	4%	4%	6%	9%

Cost of goods sold	(3,326)	(3,618)	(3,752)	(3,915)	(4,141)	(4,505)
% of Revenue	82%	82%	82%	82%	82%	82%

Selling, G&A expenses	(336)	(366)	(379)	(396)	(418)	(455)
% of Revenue	8%	8%	8%	8%	8%	8%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(32)	(35)	(36)	(37)	(40)	(43)
% of Revenue	1%	1%	1%	1%	1%	1%

Tax expense	(109)	(96)	(99)	(104)	(110)	(119)
Tax rate	29%	23%	23%	23%	23%	23%

Net profit	272	318	330	344	364	396
% Margin	7%	7%	7%	7%	7%	7%