- Alibaba trades at 7.6 times forward earnings vs CLP’s 13 times
- E-commerce firm also trading at half Tencent’s valuation
The years-long rout in shares of Alibaba Group Holding Ltd. amid regulatory crackdowns and weak consumption has left the Chinese e-commerce giant trading at just half the valuation of venerable utility CLP Holdings Ltd.
Alibaba’s valuation almost halved in the past year, after it was hit by sluggish domestic online sales, fierce competition and skepticism over its future as it scrapped plans to spin off its cloud business and changed leadership. Its Hong Kong-listed stock is now trading at just 7.6 times estimated earnings for the next 12 months, compared with more than 13 times for CLP.
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