South Port New Zealand Ltd (NZX:SPN)

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Price: 5.51 NZD 2.8%

Market Cap: 144.6m NZD

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Section:

Relative Value

The Relative Value of one SPN stock under the Base Case scenario is 8.29 NZD. Compared to the current market price of 5.51 NZD, South Port New Zealand Ltd is Undervalued by 34%.

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.

What is Relative Valuation?

How is Relative Value calculated?

SPN Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

2.6

P/S

vs History	98
vs Industry	36

Median 5Y

Industry

2.1

More Details

19.6

P/E

vs History	36
vs Industry	33

Median 5Y

17.7

Industry

14.1

More Details

11.3

P/OCF

vs History	98
vs Industry	19

Median 5Y

14.3

Industry

7.6

More Details

15.2

P/FCFE

vs History	80
vs Industry	33

Median 5Y

21.7

Industry

13.6

More Details

2.4

P/B

vs History	98
vs Industry	14

Median 5Y

3.8

Industry

1.3

More Details

3.2

EV/S

vs History	98
vs Industry	35

Median 5Y

4.3

Industry

2.8

More Details

N/A

EV/GP

vs History
vs Industry

Median 5Y

Industry

7.5

More Details

10.9

EV/EBITDA

vs History	96
vs Industry	35

Median 5Y

13.7

Industry

10.1

More Details

10.9

EV/EBIT

vs History	96
vs Industry	48

Median 5Y

13.7

Industry

12.5

More Details

13.9

EV/OCF

vs History	82
vs Industry	21

Median 5Y

15.8

Industry

9.8

More Details

EV/FCFF

vs History	17
vs Industry	31

Median 5Y

21.9

Industry

15.8

More Details

1.8

EV/IC

vs History	98
vs Industry	14

Median 5Y

2.9

Industry

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
NZ		South Port New Zealand Ltd NZX:SPN	144.6m NZD	2.6	19.6	10.9	10.9
IN		Adani Ports and Special Economic Zone Ltd NSE:ADANIPORTS	2.6T INR	9.2	26	17.1	22.5
CN		Shanghai International Port Group Co Ltd SSE:600018	141.8B CNY	3.6	10.4	15.4	15.4
PH	I	International Container Terminal Services Inc XPHS:ICT	809.5B PHP	5.2	21.7	10.2	12.4
CN		Ningbo Zhoushan Port Co Ltd SSE:601018	74.5B CNY	2.6	15.7	15.1	15.1
ZA	G	Grindrod Ltd JSE:GND	8.1B Zac	0	0	0	0
CN		Qingdao Port International Co Ltd SSE:601298	54.9B CNY	3	10.8	9.2	9.2
HK		China Merchants Port Holdings Co Ltd HKEX:144	55.4B HKD	4.8	7.6	13.7	13.7
CN		China Merchants Port Group Co Ltd SZSE:001872	52B CNY	3.2	12.5	16.7	16.7
AU		Qube Holdings Ltd ASX:QUB	7B AUD	2.1	31.6	27.6	27.6
CN		Liaoning Port Co Ltd SSE:601880	31.1B CNY	2.7	25.6	17.9	17.9

				Revenue Growth	P/S to Growth
NZ		South Port New Zealand Ltd NZX:SPN	Average P/S: 3.9 2.6	N/A	N/A
IN		Adani Ports and Special Economic Zone Ltd NSE:ADANIPORTS	9.2	52%	0.2
CN		Shanghai International Port Group Co Ltd SSE:600018	3.6	15%	0.2
PH	I	International Container Terminal Services Inc XPHS:ICT	5.2	31%	0.2
CN		Ningbo Zhoushan Port Co Ltd SSE:601018	2.6	N/A	N/A
ZA	G	Grindrod Ltd JSE:GND	Not Available	19%	N/A
CN		Qingdao Port International Co Ltd SSE:601298	3	14%	0.2
HK		China Merchants Port Holdings Co Ltd HKEX:144	4.8	16%	0.3
CN		China Merchants Port Group Co Ltd SZSE:001872	3.2	25%	0.1
AU		Qube Holdings Ltd ASX:QUB	2.1	37%	0.1
CN		Liaoning Port Co Ltd SSE:601880	2.7	N/A	N/A

				Earnings Growth	P/E to Growth
NZ		South Port New Zealand Ltd NZX:SPN	Average P/E: 18.2 19.6	N/A	N/A
IN		Adani Ports and Special Economic Zone Ltd NSE:ADANIPORTS	26	78%	0.3
CN		Shanghai International Port Group Co Ltd SSE:600018	10.4	16%	0.7
PH	I	International Container Terminal Services Inc XPHS:ICT	21.7	105%	0.2
CN		Ningbo Zhoushan Port Co Ltd SSE:601018	15.7	N/A	N/A
ZA	G	Grindrod Ltd JSE:GND	Not Available	44%	N/A
CN		Qingdao Port International Co Ltd SSE:601298	10.8	25%	0.4
HK		China Merchants Port Holdings Co Ltd HKEX:144	7.6	18%	0.4
CN		China Merchants Port Group Co Ltd SZSE:001872	12.5	24%	0.5
AU		Qube Holdings Ltd ASX:QUB	31.6	52%	0.6
CN		Liaoning Port Co Ltd SSE:601880	25.6	N/A	N/A

				EBITDA Growth	EV/EBITDA to Growth
NZ		South Port New Zealand Ltd NZX:SPN	Average EV/EBITDA: 15.4 10.9	N/A	N/A
IN		Adani Ports and Special Economic Zone Ltd NSE:ADANIPORTS	17.1	54%	0.3
CN		Shanghai International Port Group Co Ltd SSE:600018	15.4	77%	0.2
PH	I	International Container Terminal Services Inc XPHS:ICT	10.2	37%	0.3
CN		Ningbo Zhoushan Port Co Ltd SSE:601018	15.1	N/A	N/A
ZA	G	Grindrod Ltd JSE:GND	Not Available	45%	N/A
CN		Qingdao Port International Co Ltd SSE:601298	9.2	99%	0.1
HK		China Merchants Port Holdings Co Ltd HKEX:144	13.7	21%	0.7
CN		China Merchants Port Group Co Ltd SZSE:001872	16.7	286%	0.1
AU		Qube Holdings Ltd ASX:QUB	27.6	124%	0.2
CN		Liaoning Port Co Ltd SSE:601880	17.9	N/A	N/A

				EBIT Growth	EV/EBIT to Growth
NZ		South Port New Zealand Ltd NZX:SPN	Average EV/EBIT: 16.2 10.9	N/A	N/A
IN		Adani Ports and Special Economic Zone Ltd NSE:ADANIPORTS	22.5	59%	0.4
CN		Shanghai International Port Group Co Ltd SSE:600018	15.4	1%	10.9
PH	I	International Container Terminal Services Inc XPHS:ICT	12.4	45%	0.3
CN		Ningbo Zhoushan Port Co Ltd SSE:601018	15.1	N/A	N/A
ZA	G	Grindrod Ltd JSE:GND	Not Available	61%	N/A
CN		Qingdao Port International Co Ltd SSE:601298	9.2	N/A	N/A
HK		China Merchants Port Holdings Co Ltd HKEX:144	13.7	31%	0.4
CN		China Merchants Port Group Co Ltd SZSE:001872	16.7	181%	0.1
AU		Qube Holdings Ltd ASX:QUB	27.6	40%	0.7
CN		Liaoning Port Co Ltd SSE:601880	17.9	N/A	N/A

US	Johnson & Johnson NYSE:JNJ	Pharmaceuticals
US	Berkshire Hathaway Inc NYSE:BRK.A	Financial Services
US	Bank of America Corp NYSE:BAC	Banking
US	Mastercard Inc NYSE:MA	Technology
US	UnitedHealth Group Inc NYSE:UNH	Health Care
US	Exxon Mobil Corp NYSE:XOM	Energy
US	Pfizer Inc NYSE:PFE	Pharmaceuticals
US	Palantir Technologies Inc NYSE:PLTR	Technology
US	Nike Inc NYSE:NKE	Textiles, Apparel & Luxury Goods
US	Visa Inc NYSE:V	Technology
CN	Alibaba Group Holding Ltd NYSE:BABA	Retail
US	3M Co NYSE:MMM	Industrial Conglomerates
US	JPMorgan Chase & Co NYSE:JPM	Banking
US	Coca-Cola Co NYSE:KO	Beverages
US	Walmart Inc NYSE:WMT	Retail
US	Verizon Communications Inc NYSE:VZ	Telecommunication

	Johnson & Johnson NYSE:JNJ	US
	Berkshire Hathaway Inc NYSE:BRK.A	US
	Bank of America Corp NYSE:BAC	US
	Mastercard Inc NYSE:MA	US
	UnitedHealth Group Inc NYSE:UNH	US
	Exxon Mobil Corp NYSE:XOM	US
	Pfizer Inc NYSE:PFE	US
	Palantir Technologies Inc NYSE:PLTR	US
	Nike Inc NYSE:NKE	US
	Visa Inc NYSE:V	US
	Alibaba Group Holding Ltd NYSE:BABA	CN
	3M Co NYSE:MMM	US
	JPMorgan Chase & Co NYSE:JPM	US
	Coca-Cola Co NYSE:KO	US
	Walmart Inc NYSE:WMT	US
	Verizon Communications Inc NYSE:VZ	US

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	Mohawk Industries Inc NYSE:MHK	120.19 USD 0.54%
	Ardmore Shipping Corp NYSE:ASC	12.12 USD 2.02%
	ASGN Inc NYSE:ASGN	84.15 USD 0.71%
	Skyworks Solutions Inc NASDAQ:SWKS	90.35 USD 0.18%
	Weatherford International PLC NASDAQ:WFRD	67.61 USD 1.26%

	Johnson & Johnson NYSE:JNJ	145.85 USD 0.4%
	Bank of America Corp NYSE:BAC	44.38 USD 1.12%
	Mastercard Inc NYSE:MA	535.71 USD 1.28%
	Salesforce Inc NYSE:CRM	344.43 USD 0.45%
	Abbvie Inc NYSE:ABBV	180 USD 0.9%
	Home Depot Inc NYSE:HD	396.14 USD 0.99%

	Arista Networks Inc NYSE:ANET	114.65 USD 1.38%
	Visa Inc NYSE:V	320.65 USD 1.08%
	Texas Pacific Land Corp NYSE:TPL	1 161.2 USD 1.91%
	KLA Corp NASDAQ:KLAC	650.53 USD 1.12%
	Manhattan Associates Inc NASDAQ:MANH	282.27 USD 1.24%
	Pinduoduo Inc NASDAQ:PDD	99.72 USD -0.86%

South Port New Zealand Ltd
NZX:SPN

Relative Value

Valuation Multiples

Multiples Across Competitors

SPN Competitors Multiples
South Port New Zealand Ltd Competitors

See Also

Company

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52 Week Range	5.2 7.4
Price Target

South Port New Zealand Ltd NZX:SPN

Relative Value

Valuation Multiples

Multiples Across Competitors

SPN Competitors Multiples South Port New Zealand Ltd Competitors

See Also

Company

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Stocks

South Port New Zealand Ltd
NZX:SPN

SPN Competitors Multiples
South Port New Zealand Ltd Competitors