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v0.1
1896.HK$5.67+1.25%
Fair $5.67+0.0%

1896.HK

Maoyan Entertainment

Communication Services / Internet Content & InformationHKSE

$5.67

+0.07 (+1.25%)

Fairly Valued+0.0%Fair Value $5.67Fund rank 31/100 · Data gapFallback financials|
SA 54/C
F-Score: 8/9

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 33% · confianza 22%

FCF escenarios

weak_data · normalized FCF $1.2B · quality 54.3/100

Data gap 31/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 32/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

54/100

C

Piotroski

8/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified.
Thesis & Journal · 1896.HKLocal privado en este navegador · Maoyan Entertainment
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$6.4B

P/E

9.9x

↓

EV/EBITDA

5.0x

↓

ROE

6.1%

↑

Gross Margin

43.3%

↓

Debt/Equity

0.01

↓
52-Week Range$6
$5$9

TradingView lightweight chart

1896.HK price, volumen y niveles de valoración

Último $5.670Periodo -61.3%
Fair value: $5.670

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+25.9%

FCF CAGR

+166.6%

FCF margin

25.7%

FCF / Net income

2.11x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $4.63B · net income $563.6M · FCF $1.19B

2022-FY → 2025-FY

Gross margin

43.3%-0.7% pts

Operating margin

17.0%+5.0% pts

Net margin

12.2%+7.6% pts

FCF margin

25.7%+23.0% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$4.63B$4.63B$4.08B$4.76B$2.32B
Net Income$563.6M$563.6M$181.9M$910.4M$105.2M
EBITDA$896.1M$896.1M$437.6M$1.28B$347.7M
EPS0.490.490.160.790.09
Gross Margin43.3%43.3%39.8%50.1%44.0%
Operating Margin17.0%17.0%9.0%25.7%12.0%
Net Margin12.2%12.2%4.5%19.1%4.5%
Balance Sheet
Debt/Equity0.010.010.050.030.05
Current Ratio1.881.88———
Cash Flow
Free Cash Flow$1.19B$1.19B$-860.6M$1.47B$62.9M
Returns
ROE6.1%6.1%2.0%10.1%1.3%
Valuation
P/E9.959.9549.3812.27105.00
EV/EBITDA4.994.9919.777.2327.76
P/B0.700.701.001.231.33
Growth & Yield
Revenue Growth13.5%13.5%-14.2%105.1%—
EPS Growth206.2%206.2%-79.7%777.8%—
Dividend Yield3.9%3.9%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

0.9%

fácil

EPS terminal req.

$0.50

Spread vs growth

205.4%

5Y implied EPS CAGR

4.4%

fácil

EPS terminal req.

$0.61

Spread vs growth

201.8%

10Y implied EPS CAGR

7.2%

razonable

EPS terminal req.

$0.98

Spread vs growth

199.1%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -16.5%

Total return

-16.5%

Start / end P/E

44.6x → 11.6x

EPS bridge

0.16 → 0.49

Residual

-152.7%

EPS growth+206.2%
Multiple rerating-74.0%
Dividend+3.9%
Residual / FX / buybacks / cross-term-152.7%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.