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2309.HK$2.21-1.34%
Fair $2.21+0.0%

2309.HK

ZO Future Group

Communication Services / EntertainmentHKSE

$2.21

-0.03 (-1.34%)

Fairly Valued+0.0%Fair Value $2.21Fund rank 28/100 · Data gapFallback financials|
SA 14/F
F-Score: 0/9
Low Profitability

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 $-280.6M · quality 62.0/100

Data gap 28/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 46/100Data 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

14/100

F

Piotroski

0/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 1unknown: 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. ROE is -39.9%, below the 5% threshold
Thesis & Journal · 2309.HKLocal privado en este navegador · ZO Future Group
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

$2.0B

P/E

N/A

•

EV/EBITDA

N/A

•

ROE

-39.9%

↓

Gross Margin

N/A

•

Debt/Equity

1.37

↑
52-Week Range$2
$2$3

TradingView lightweight chart

2309.HK price, volumen y niveles de valoración

Último $2.210Periodo -99.3%
Fair value: $2.210

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2021–2024 · 3 años de histórico normalizado

Revenue CAGR

+18.6%

FCF CAGR

—

FCF margin

-202.9%

FCF / Net income

3.05x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $275.2M · net income $-182.8M · FCF $-558.4M

2021-FY → 2024-FY

Gross margin

—— pts

Operating margin

-138.1%+93.1% pts

Net margin

-66.4%-21.4% pts

FCF margin

-202.9%+32.6% pts
MetricTTM
2024
2023
2022
2021
Income Statement
Revenue$275.2M$275.2M$217.1M$220.9M$165.0M
Net Income$-182.8M$-182.8M$-25.7M$-40.7M$-74.2M
EBITDA$-197.1M$-197.1M$-15.4M$-785000.00$16.3M
EPS-0.23-0.23-0.03-0.05—
Operating Margin-138.1%-138.1%-39.4%-59.7%-231.2%
Net Margin-66.4%-66.4%-11.8%-18.4%-45.0%
Balance Sheet
Debt/Equity1.371.370.660.890.74
Current Ratio1.371.37———
Cash Flow
Free Cash Flow$-558.4M$-558.4M$-280.6M$-258.7M$-388.6M
Returns
ROE-39.9%-39.9%-4.9%-8.3%-13.9%
Valuation
EV/EBITDA————231.56
P/B3.773.770.932.926.38
Growth & Yield
Revenue Growth26.8%26.8%-1.7%33.9%—
EPS Growth-601.8%-601.8%36.8%——

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 -23.8%

Total return

-23.8%

Start / end P/E

n/dx → n/dx

EPS bridge

-0.03 → -0.23

Residual

-23.8%

EPS growthn/d
Multiple reratingn/d
Dividend+0.0%
Residual / FX / buybacks / cross-term-23.8%

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.