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v0.1
1945.HK$1.60+2.56%
Fair $1.60+0.0%

1945.HK

Zero2IPO Holdings Inc.

Financial Services / Financial ConglomeratesHKSE

$1.60

+0.04 (+2.56%)

Fairly Valued+0.0%Fair Value $1.60Fund rank 31/100 · Data gapFallback financials|
SA 54/C
F-Score: 5/9

Book/ROE base 3Y

n/d

n/d CAGR · P/B n/d

Book/ROE base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 100% · confianza 20%

Book/ROE escenarios

weak_data · book/share n/d · quality 13.0/100

Data gap 31/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 40/100Data 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

5/9

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. Sector-specific holding-company NAV/SOTP model required: targets are disabled until look-through holdings, debt and discount data exists.
Thesis & Journal · 1945.HKLocal privado en este navegador · Zero2IPO Holdings Inc.
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

$473M

P/E

5.9x

↓

EV/EBITDA

3.8x

↓

ROE

11.0%

↑

Gross Margin

46.6%

↓

Debt/Equity

0.09

↓
52-Week Range$2
$1$2

TradingView lightweight chart

1945.HK price, volumen y niveles de valoración

Último $1.600Periodo -86.2%
Fair value: $1.600

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

+1.7%

FCF CAGR

+86.0%

FCF margin

21.8%

FCF / Net income

0.72x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $232.0M · net income $70.4M · FCF $50.6M

2022-FY → 2025-FY

Gross margin

46.6%+2.7% pts

Operating margin

15.5%+2.9% pts

Net margin

30.4%+21.1% pts

FCF margin

21.8%+18.2% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$232.0M$232.0M$192.5M$238.5M$220.6M
Net Income$70.4M$70.4M$12.1M$16.1M$20.4M
EBITDA$109.9M$109.9M$39.8M$43.6M$42.1M
EPS——0.040.050.07
Gross Margin46.6%46.6%34.8%39.9%44.0%
Operating Margin15.5%15.5%-4.9%2.7%12.7%
Net Margin30.4%30.4%6.3%6.8%9.2%
Balance Sheet
Debt/Equity0.090.090.110.080.08
Current Ratio2.062.06———
Cash Flow
Free Cash Flow$50.6M$50.6M$4.9M$16.7M$7.9M
Returns
ROE11.0%11.0%2.1%2.8%3.7%
Valuation
P/E5.935.9337.2521.4041.57
EV/EBITDA3.793.7911.246.1819.23
P/B0.750.750.780.581.65
Growth & Yield
Revenue Growth20.5%20.5%-19.3%8.1%—
EPS Growth——-20.0%-28.6%—

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

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

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 +14.3%

Total return

+14.3%

Start / end P/E

n/dx → n/dx

EPS bridge

0.04 → n/d

Residual

+14.3%

EPS growthn/d
Multiple reratingn/d
Dividend+0.0%
Residual / FX / buybacks / cross-term+14.3%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

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.