(as of 18/10/19)

Ticker | Company | Share price (local) | Market cap (US$MM) | Firm value (US$MM) | 2019E FV/Sales | 2020E FV/Sales | 2019E FV/EBITDA | 2020E FV/EBITDA | 2019E P/E | 2020E P/E |
---|---|---|---|---|---|---|---|---|---|---|

US Social / Content Platforms | ||||||||||

FB | Facebook, Inc. | 185.85 | 530,221MM | 489,435MM | 7.0x | 5.7x | 13.2x | 10.8x | 21.0x | 17.1x |

SNAP | Snap Inc. | 13.52 | 18,648MM | 17,822MM | 10.5x | 7.7x | - | - | - | - |

PINS | Pinterest, Inc. | 25.31 | 13,736MM | 12,041MM | 10.7x | 7.8x | - | - | - | - |

Mean | 9.4x | 7.1x | 13.2x | 10.8x | 21.0x | 17.1x | ||||

Median | 10.5x | 7.7x | 13.2x | 10.8x | 21.0x | 17.1x | ||||

Chinese Social / Content Platforms | ||||||||||

0700.HK | Tencent Holdings 腾讯控股 | 324.80 | 397,810MM | 406,700MM | 7.5x | 6.0x | 21.3x | 17.9x | 29.6x | 24.4x |

TME | Tencent Music Entertainment Group | 13.50 | 22,075MM | 19,286MM | 5.4x | 4.1x | 30.8x | 21.1x | 35.2x | 26.5x |

MOMO | Momo Inc. | 33.07 | 6,857MM | 5,776MM | 2.4x | 2.1x | 10.4x | 7.4x | 13.2x | 10.8x |

BILI | Bilibili Inc. | 14.41 | 4,699MM | 4,437MM | 4.8x | 3.3x | - | - | - | - |

HUYA | HUYA Inc. | 21.50 | 4,688MM | 3,377MM | 2.9x | 2.2x | - | 23.4x | 51.9x | 29.3x |

YY | YY Inc. | 57.63 | 4,660MM | 2,546MM | 0.7x | 0.6x | 9.7x | 6.6x | 14.6x | 10.8x |

1060.HK | Alibaba Pictures 阿里巴巴影业集团 | 1.17 | 3,995MM | 3,463MM | 6.9x | 5.7x | 46.1x | 20.8x | 61.6x | 28.5x |

DOYU | DouYu International Holdings | 7.54 | 2,448MM | 2,775MM | 2.7x | 1.9x | - | 21.5x | 72.5x | 17.2x |

1896.HK | Maoyan Entertainment 猫眼娱乐 | 11.22 | 1,622MM | 1,438MM | 2.4x | 2.0x | 11.9x | 8.1x | 19.0x | 12.2x |

Mean | 4.0x | 3.1x | 21.7x | 15.8x | 37.2x | 20.0x | ||||

Median | 2.9x | 2.2x | 16.6x | 19.4x | 32.4x | 20.8x |