Financials 3SBio Inc.

Equities

1530

KYG8875G1029

Pharmaceuticals

Delayed Hong Kong S.E. 22:19:35 2024-05-02 EDT 5-day change 1st Jan Change
6.55 HKD -0.46% Intraday chart for 3SBio Inc. +13.79% -13.30%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 22,384 22,926 15,136 13,359 17,878 14,516 14,516 -
Enterprise Value (EV) 1 23,886 23,645 14,959 13,120 20,196 18,543 15,346 13,517
P/E ratio 18 x 23.8 x 18 x 8.54 x 9.91 x 11 x 8 x 7.28 x
Yield - - - 3.78% 1.24% 2.64% 3.58% 4.17%
Capitalization / Revenue 4.88 x 4.31 x 2.71 x 2.09 x 2.61 x 2.1 x 1.68 x 1.53 x
EV / Revenue 5.21 x 4.45 x 2.68 x 2.06 x 2.94 x 2.37 x 1.77 x 1.43 x
EV / EBITDA 13.4 x 11.8 x 9.31 x 5.99 x 7.22 x 6.7 x 5.39 x 4.38 x
EV / FCF 26.5 x 16.9 x 33.1 x 23.9 x 15.9 x 11.2 x 11.2 x 7.11 x
FCF Yield 3.78% 5.93% 3.02% 4.19% 6.29% 8.96% 8.97% 14.1%
Price to Book 2.6 x 2.38 x 1.41 x 1.1 x 1.36 x 1.01 x 0.95 x 0.86 x
Nbr of stocks (in thousands) 2,538,985 2,539,974 2,543,601 2,522,355 2,438,845 2,382,112 2,382,112 -
Reference price 2 8.816 9.026 5.950 5.296 7.330 6.094 6.094 6.094
Announcement Date 19-03-20 20-03-30 21-03-30 22-03-28 23-03-21 24-03-20 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 4,584 5,318 5,588 6,382 6,859 7,816 8,661 9,458
EBITDA 1 1,782 2,005 1,606 2,190 2,796 2,768 2,846 3,088
EBIT 1 1,212 1,652 1,503 1,642 1,658 1,915 2,503 2,723
Operating Margin 26.45% 31.06% 26.89% 25.73% 24.18% 24.51% 28.9% 28.79%
Earnings before Tax (EBT) 1 1,496 1,223 979.1 1,869 2,274 1,978 2,377 2,613
Net income 1 1,277 973.7 835.8 1,651 1,915 1,549 1,937 2,137
Net margin 27.86% 18.31% 14.96% 25.87% 27.92% 19.82% 22.37% 22.59%
EPS 2 0.4900 0.3800 0.3300 0.6200 0.7400 0.6200 0.7618 0.8376
Free Cash Flow 1 902.9 1,403 451.6 549.2 1,271 1,372 1,376 1,901
FCF margin 19.7% 26.38% 8.08% 8.61% 18.53% 17.61% 15.89% 20.1%
FCF Conversion (EBITDA) 50.68% 69.96% 28.12% 25.08% 45.44% 50.46% 48.35% 61.57%
FCF Conversion (Net income) 70.7% 144.06% 54.03% 33.26% 66.36% 67.22% 71.01% 88.99%
Dividend per Share 2 - - - 0.2000 0.0912 0.1608 0.2180 0.2540
Announcement Date 19-03-20 20-03-30 21-03-30 22-03-28 23-03-21 24-03-20 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 2,643 2,675 2,695 2,892 3,110 3,275 3,091 3,768 3,784 4,032 4,352 4,631 4,498 5,254
EBITDA - - - - - - - - - - - - - -
EBIT 1 - - - - 915.3 727 802.5 855.8 1,301 614.8 1,427 1,312 1,496 1,494
Operating Margin - - - - 29.43% 22.2% 25.96% 22.71% 34.38% 15.25% 32.8% 28.32% 33.25% 28.43%
Earnings before Tax (EBT) - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - -
EPS 2 0.1300 0.2500 0.2700 0.0600 0.3400 0.2800 0.3700 0.3700 0.3900 0.2300 0.4400 0.3900 0.4500 0.4400
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 19-08-21 20-03-30 20-08-17 21-03-30 21-08-25 22-03-28 22-08-24 23-03-21 23-08-24 24-03-20 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 1,502 719 - - 2,318 2,148 830 -
Net Cash position 1 - - 177 239 - - - 999
Leverage (Debt/EBITDA) 0.843 x 0.3587 x - - 0.8291 x 0.776 x 0.2918 x -
Free Cash Flow 1 903 1,403 452 549 1,271 1,372 1,376 1,901
ROE (net income / shareholders' equity) 16% 10.7% 8.23% 15.1% 15.2% 11.5% 12.5% 12.4%
ROA (Net income/ Total Assets) 9.26% 6.8% 5.15% 8.95% 9.3% 6.79% 8.23% 8.38%
Assets 1 13,796 14,324 16,244 18,445 20,601 22,817 23,531 25,509
Book Value Per Share 2 3.390 3.800 4.220 4.810 5.400 6.040 6.400 7.110
Cash Flow per Share 2 0.4200 0.7400 0.4900 0.5700 0.8200 0.8400 0.7700 1.170
Capex 1 247 471 893 1,029 910 820 905 842
Capex / Sales 5.4% 8.86% 15.98% 16.13% 13.26% 10.52% 10.45% 8.9%
Announcement Date 19-03-20 20-03-30 21-03-30 22-03-28 23-03-21 24-03-20 - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
6.094 CNY
Average target price
6.893 CNY
Spread / Average Target
+13.12%
Consensus