XJ International Holdings Co., Ltd.

1765.HK · Consumer Defensive · Education & Training Services · Valued as of 2026-11-03 · Statements 2025-08-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

1.11B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

1.51B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

1.51B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

1.38B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

141.73M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

9.73×

the ratio the screener ranks by

Margin of Safety

+89.7%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 1.11B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)1.18B USD
−②Net Debt Today66.00M USD
+③Growth Value0 USD
=Value1.11B USD

EPV of the Operations (NOPAT over WACC)

1.18B USD

Net debt today

-66.00M USD

Growth Value

0 USD

Value

1.11B USD

①EPV (Earnings Power Value)

1.18B USD

②Net Debt Today

66.00M USD

③Growth Value

0 USD

Market value

Market Cap141.73M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+87.3%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 1.51B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 1.51B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap141.73M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+90.6%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 1.51B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 1.51B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap141.73M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+90.6%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 7.82%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.09×Market Risk Premium 6.00%= 11.06%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 14.39M USDPretax Income 68.50M USD= 21.01%

The tax the interest saves.

Interest Expense =EBIT 100.09M USD−Pretax Income 68.50M USD= 31.58M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 31.58M USDTotal Debt 377.40M USD×(1 − Tax Rate for WACC 21.01%)= 6.61%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 377.40M USDMarket Cap + Total Debt 141.73M USD + 377.40M USD= 72.70%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 27.30%×Cost of Equity 11.06%+Debt Weight 72.70%×Cost of Debt 6.61%= 7.82%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-02-28.

Total Assets 2.69B USD − Total Liabilities 1.17B USD = Book Value Today 1.51B USD

Total Debt 377.40M USD − Cash and Short-Term Investments 311.39M USD = Net Debt Today 66.00M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 15.5%at most 5%does not pass8,673,936,140 / 8,224,974,706
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets5.4%at least -10.0%passes(198.51M USD − 53.85M USD) ÷ 2.69B USD
Price to bookMarket Cap ÷ Book Value Today0.09×at most 3×passes141.73M USD ÷ 1.51B USD
Operating marginOperating Income ÷ Revenue18.6%above 10.0%passes103.25M USD ÷ 554.22M USD
Revenue growthRevenue ÷ Revenue a Year Before − 15.3%above 10.0%does not pass554.22M USD / 526.50M USD
Net cash(Cash − Total Debt) ÷ Market Cap-46.6%above -30%does not pass(311.39M USD − 377.40M USD) ÷ 141.73M USD
Operating efficiencyOperating Income ÷ Gross Profit44.2%above 25.0%passes103.25M USD ÷ 233.39M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

0.13 HKD

Enterprise value

1.61B HKD

the provider's own figure

EV / EBITDA

1.24×

Price / book

0.09×

the provider's book

Price / earnings

12.80×

Return on equity

7.1%

the provider's figure, not this page's

Profit margin

17.9%

Revenue growth

-3.3%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

440.72M492.23M526.50M554.22M

Gross profit

202.08M230.91M221.99M233.39M

Operating income

108.94M117.89M105.44M103.25M

EBITDA

operating income before depreciation and amortisation

199.44M161.38M227.04M186.68M

Pretax income

85.38M41.96M106.80M68.50M

Net income

64.40M28.87M85.99M53.85M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

59.07M64.36M71.78M-21.55M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

3.23B3.06B3.14B3.08B

Total liabilities

2.07B1.91B1.85B1.74B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.17B1.16B1.29B1.34B

Total debt

931.79M809.71M784.28M618.01M

Cash and equivalents

401.86M396.76M373.21M387.75M

Net PP&E

fixed assets after depreciation

1.82B1.79B1.92B1.69B

Working capital

current assets less current liabilities

-474.72M-724.19M-760.18M-376.58M
Cash flow (USD)2022202320242025

Operating cash flow

204.16M245.58M210.14M198.51M

Capital expenditure

paid out, so below zero

-344.52M-213.69M-183.66M-137.00M

Depreciation and amortisation

70.83M71.44M79.41M86.59M

Free cash flow

operating cash flow plus capital expenditure

-140.36M31.89M26.49M61.52M