SHENGFENG DEVELOPMENT Ltd (SFWL)

Trucking & Courier Services (No Air)

Latest Price

$9.20

TTM P/E

Normalized P/E

Div Yield

Book Value

P/B Ratio

Valuation metrics

EPS: $1.95

Book value / share: $1.61

Formula: √(22.5 × EPS × BVPS)

Graham Number

$8.41

9% downside

Norm. op. income: $14M (median of 4yr)

Tax rate: 16%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$0.91

90% downside

Base FCF: $677,500 (median of recent 4yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$0.05

99% downside

EPS: $1.95

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$29.25

+218% upside