Antelope Enterprise Holdings Ltd (NASDAQ: AEHL)

Sector: Industrials Industry: Building Products & Equipment CIK: 0001470683
Market Cap 1.08 Mn
P/B 0.29
P/E -1.03
P/S 0.08
ROIC (Qtr) 0.00
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 558,005.62
Debt/Equity (Qtr) 0.15
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About

Antelope Enterprise Holdings Ltd (AEHL) is a holding company based in the British Virgin Islands, with its primary operations in China. It is listed on the Nasdaq Capital Market with the ticker symbol AEHL. The company operates primarily in the livestreaming e-commerce industry, with its subsidiaries spanning various segments including building materials, business management and consulting services, computer consulting and software development, and livestreaming e-commerce. AEHL's main business activities revolve around the livestreaming e-commerce...

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Investment thesis

Bull case

  • Strong tangible asset base of 5.21M provides 9.34x coverage of total debt 558005.62, indicating robust asset backing and low credit risk.
  • Tangible assets of 5.21M provide exceptional 25.43x coverage of deferred revenue 204915.73, showing strong service capability backing.
  • Long-term investments of 745084.27 provide solid 6.57x coverage of long-term debt 113483.15, indicating strategic financial planning.
  • Short-term investments of 2.79M provide solid 4.61x coverage of other current liabilities 605617.98, indicating strong liquidity.
  • Retained earnings of 3.74M provide full 32.99x coverage of long-term debt 113483.15, indicating strong internal capital position.

Bear case

  • Short-term investments of 2.79M significantly exceed cash reserves of 270646.07, which is 10.32x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
  • High receivables of 12780.90 relative to inventory of 702.25 (18.20 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Operating cash flow of 0 provides insufficient coverage of deferred revenue obligations of 204915.73, which is 0x, raising concerns about future service delivery capabilities.
  • Long-term investments of 745084.27 represent a high 1.21x of fixed assets 616573.03, indicating potential overexposure to financial assets versus operational capabilities.
  • Tax assets of 1404.49 provide limited offset against tax liabilities of 116151.69, which is 0.01x, indicating potential future cash flow pressure from tax obligations.

Peer comparison

Companies in the Building Products & Equipment
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 TT Trane Technologies plc 104.89 Bn 35.94 4.92 4.62 Bn
2 JCI Johnson Controls International plc 91.64 Bn 26.98 3.82 9.71 Bn
3 CARR CARRIER GLOBAL Corp 56.66 Bn 38.18 2.61 12.25 Bn
4 LII Lennox International Inc 19.91 Bn 24.71 3.83 1.77 Bn
5 CSL Carlisle Companies Inc 17.50 Bn 23.63 3.49 2.88 Bn
6 MAS Masco Corp /De/ 15.94 Bn 19.68 2.11 3.17 Bn
7 OC Owens Corning 13.83 Bn 13.90 1.63 5.61 Bn
8 WMS Advanced Drainage Systems, Inc. 13.26 Bn 28.18 4.44 1.45 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets -0.22 2.00
EV to Cash from Ops. EV/CFO 0.53 13.48
EV to Debt EV to Debt -2.03 10.94
EV to EBIT EV/EBIT 1.33 24.16
EV to EBITDA EV/EBITDA 0.75 -11.14
EV to Free Cash Flow [EV/FCF] EV/FCF 0.42 46.78
EV to Market Cap EV to Market Cap -1.05 1.12
EV to Revenue EV/Rev -0.08 2.81
Price to Book Value [P/B] P/B 0.29 4.24
Price to Earnings [P/E] P/E -1.03 47.40
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.80
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 11.22
Dividend per Basic Share Div per Share (Qtr) 0.00 0.71
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 10.90
Interest Coverage Int. cover (Qtr) 0.00 111.58
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 0.00 -24.93
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 0.00 61.26
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 1.67
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 0.00 -186.82
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 0.00 -57.93
EBIT Growth (1y) % EBIT 1y % (Qtr) 0.00 -102.26
EBT Growth (1y) % EBT 1y % (Qtr) 0.00 -299.15
EPS Growth (1y) % EPS 1y % (Qtr) 0.00 -598.34
FCF Growth (1y) % FCF 1y % (Qtr) 0.00 89.70
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 0.00 -3.62
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.88
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.13
Cash Ratio Cash Ratio (Qtr) 0.20 1.57
Current Ratio Curr Ratio (Qtr) 2.89 3.42
Debt to Equity Ratio Debt/Equity (Qtr) 0.15 0.79
Interest Cover Ratio Int Coverage (Qtr) 0.00 111.58
Times Interest Earned Times Interest Earned (Qtr) 0.00 111.58
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 0.00 3.54
EBIT Margin % EBIT Margin % (Qtr) 0.00 1.23
EBT Margin % EBT Margin % (Qtr) 0.00 -1.76
Gross Margin % Gross Margin % (Qtr) 0.00 28.65
Net Profit Margin % Net Margin % (Qtr) 0.00 -3.80