Company Valuation: ADAMA Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 18,846 20,233 15,429 14,930 12,263 12,939 -
Change - 7.36% -23.74% -3.23% -17.87% 5.52% -
Enterprise Value (EV) 19,197 25,210 21,465 20,446 20,819 12,939 12,939
Change - 31.33% -14.86% -4.75% 1.82% -37.85% 0%
P/E 125x 34.6x -10.1x -5.36x -12.2x 21.4x 17.5x
PBR 0.93x 0.85x 0.69x 0.82x 0.73x 0.74x 0.71x
PEG - 0x 0x -0.1x 0.2x -0x 0.8x
Capitalization / Revenue 0.61x 0.54x 0.47x 0.51x 0.42x 0.42x 0.39x
EV / Revenue 0x 0x 0x 0x 0x 0.42x 0.39x
EV / EBITDA 0x 0x 0x 0x 0x 2.56x 2.46x
EV / EBIT 0x 0x 0x 0x 0x 19.6x 16x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 0.008 0.027 - - - 0.01 0.03
Rate of return 0.09% 0.3% - - - 0.17% 0.52%
EPS 2 0.0676 0.2616 -0.6893 -1.246 -0.4488 0.27 0.33
Distribution rate 11.8% 10.3% - - - 3.7% 9.09%
Net sales 1 31,039 37,382 32,779 29,488 28,945 30,654 32,916
EBITDA 1 4,328 4,940 2,844 3,340 4,193 5,050 5,261
EBIT 1 1,876 2,575 411 3,333 481 660 808
Net income 1 157 609 -1,606 -2,903 -1,046 627 767
Net Debt 350.6 4,977 6,036 5,515 8,556 - -
Reference price 2 8.440 9.050 6.940 6.680 5.480 5.770 5.770
Nbr of stocks (in thousands) 2,329,812 2,329,812 2,329,812 2,329,812 2,329,812 2,329,812 -
Announcement Date 3/30/22 3/20/23 3/26/24 3/13/25 3/27/26 - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.37x - - 0.17% 1.93B
14.89x1.48x8.25x1.86% 3.26B
26.57x - - 1.84% 2.51B
19.68x - - 1.72% 1.81B
8.02x - - - 1.49B
10.37x - - 3.34% 1.46B
12.28x - - 3.26% 1.2B
12.91x - - 3.06% 1.13B
45x0.58x5.14x0.16% 868M
Average 19.01x 1.03x 6.69x 1.93% 1.74B
Weighted average by Cap. 18.37x 1.29x 7.60x 1.87%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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