Meituan
HKEX:3690

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Meituan
HKEX:3690
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Price: 158.6 HKD 0.13% Market Closed
Market Cap: 965.1B HKD
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Relative Value

The Relative Value of one Meituan stock under the Base Case scenario is 184.5 HKD. Compared to the current market price of 158.6 HKD, Meituan is Undervalued by 14%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

Relative Value
Base Case
184.5 HKD
Undervaluation 14%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
74
vs Industry
11
Median 3Y
3.4
Median 5Y
4.9
Industry
0.6
Forward
2.7
vs History
47
vs Industry
9
Median 3Y
28.5
Median 5Y
39.9
Industry
16.7
Forward
22.5
vs History
57
vs Industry
14
Median 3Y
15.8
Median 5Y
22.9
Industry
8
vs History
50
vs Industry
20
Median 3Y
25.5
Median 5Y
46.9
Industry
15.5
vs History
65
vs Industry
13
Median 3Y
6
Median 5Y
6.7
Industry
1.6
vs History
74
vs Industry
14
Median 3Y
3.1
Median 5Y
4.6
Industry
0.7
Forward
2.4
vs History
79
vs Industry
16
Median 3Y
9.3
Median 5Y
15.2
Industry
2.2
vs History
47
vs Industry
9
Median 3Y
24.6
Median 5Y
32.3
Industry
8.5
Forward
17.7
vs History
39
vs Industry
9
Median 3Y
24.6
Median 5Y
24.6
Industry
12.8
Forward
22.5
vs History
57
vs Industry
19
Median 3Y
13.2
Median 5Y
20.9
Industry
9.1
vs History
41
vs Industry
23
Median 3Y
13.9
Median 5Y
13.9
Industry
12.8
vs History
65
vs Industry
7
Median 3Y
6.2
Median 5Y
7.4
Industry
1.1

Multiples Across Competitors

Competitors Multiples
Meituan Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
CN
Meituan
HKEX:3690
986.7B HKD 3 41.1 35.6 35.6
US
Amazon.com Inc
NASDAQ:AMZN
2.4T USD 3.8 47.4 21 38.7
ZA
Naspers Ltd
JSE:NPN
864B Zac 0 0 0 0
CN
Alibaba Group Holding Ltd
NYSE:BABA
197.1B USD 1.5 16.7 10.5 10.5
CN
Pinduoduo Inc
NASDAQ:PDD
138.2B USD 2.7 9.3 6.7 6.7
NL
Prosus NV
AEX:PRX
97.4B EUR 18.6 15.4 -588 -588
UY
MercadoLibre Inc
BMV:MELIN
1.7T MXN 4.6 60.7 32.1 41.8
AR
Mercadolibre Inc
NASDAQ:MELI
86.9B USD 4.6 60.5 32 41.6
US
DoorDash Inc
NASDAQ:DASH
71B USD 7 -412.7 215.8 -270.6
CN
JD.Com Inc
HKEX:9618
398.3B HKD 0.3 10.7 6.5 6.5
KR
Coupang Inc
NYSE:CPNG
41.2B USD 1.4 40 50.6 108.6
P/S Multiple
Revenue Growth P/S to Growth
CN
Meituan
HKEX:3690
Average P/S: 4.8
3
62%
0
US
Amazon.com Inc
NASDAQ:AMZN
3.8
39%
0.1
ZA
N
Naspers Ltd
JSE:NPN
Not Available
32%
N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
1.5
28%
0.1
CN
Pinduoduo Inc
NASDAQ:PDD
2.7
145%
0
NL
Prosus NV
AEX:PRX
18.6
40%
0.5
UY
MercadoLibre Inc
BMV:MELIN
4.6
118%
0
AR
Mercadolibre Inc
NASDAQ:MELI
4.6
118%
0
US
D
DoorDash Inc
NASDAQ:DASH
7
74%
0.1
CN
JD.Com Inc
HKEX:9618
0.3
19%
0
KR
Coupang Inc
NYSE:CPNG
1.4
71%
0
P/E Multiple
Earnings Growth P/E to Growth
CN
Meituan
HKEX:3690
Average P/E: 33.5
41.1
365%
0.1
US
Amazon.com Inc
NASDAQ:AMZN
47.4
167%
0.3
ZA
N
Naspers Ltd
JSE:NPN
Not Available
82%
N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
16.7
146%
0.1
CN
Pinduoduo Inc
NASDAQ:PDD
9.3
168%
0.1
NL
Prosus NV
AEX:PRX
15.4
50%
0.3
UY
MercadoLibre Inc
BMV:MELIN
60.7
217%
0.3
AR
Mercadolibre Inc
NASDAQ:MELI
60.5
223%
0.3
US
D
DoorDash Inc
NASDAQ:DASH
Negative Multiple: -412.7 N/A N/A
CN
JD.Com Inc
HKEX:9618
10.7
11%
1
KR
Coupang Inc
NYSE:CPNG
40
8%
5.2
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CN
Meituan
HKEX:3690
Average EV/EBITDA: 45.6
35.6
332%
0.1
US
Amazon.com Inc
NASDAQ:AMZN
21
133%
0.2
ZA
N
Naspers Ltd
JSE:NPN
Not Available
1 697%
N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
10.5
40%
0.3
CN
Pinduoduo Inc
NASDAQ:PDD
6.7
227%
0
NL
Prosus NV
AEX:PRX
Negative Multiple: -588 N/A N/A
UY
MercadoLibre Inc
BMV:MELIN
32.1
136%
0.2
AR
Mercadolibre Inc
NASDAQ:MELI
32
136%
0.2
US
D
DoorDash Inc
NASDAQ:DASH
215.8
N/A N/A
CN
JD.Com Inc
HKEX:9618
6.5
74%
0.1
KR
Coupang Inc
NYSE:CPNG
50.6
266%
0.2
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CN
Meituan
HKEX:3690
Average EV/EBIT: 36.3
35.6
532%
0.1
US
Amazon.com Inc
NASDAQ:AMZN
38.7
169%
0.2
ZA
N
Naspers Ltd
JSE:NPN
Not Available N/A N/A
CN
Alibaba Group Holding Ltd
NYSE:BABA
10.5
41%
0.3
CN
Pinduoduo Inc
NASDAQ:PDD
6.7
207%
0
NL
Prosus NV
AEX:PRX
Negative Multiple: -588 N/A N/A
UY
MercadoLibre Inc
BMV:MELIN
41.8
158%
0.3
AR
Mercadolibre Inc
NASDAQ:MELI
41.6
158%
0.3
US
D
DoorDash Inc
NASDAQ:DASH
Negative Multiple: -270.6 N/A N/A
CN
JD.Com Inc
HKEX:9618
6.5
83%
0.1
KR
Coupang Inc
NYSE:CPNG
108.6
303%
0.4

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