Financials Alibaba Group Holding Limited

Equities

BABA

US01609W1027

Internet Services

Market Closed - Nyse 16:00:02 2024-05-21 EDT 5-day change 1st Jan Change
86.13 USD -2.44% Intraday chart for Alibaba Group Holding Limited +8.33% +11.12%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,173,969 3,695,673 4,027,830 1,854,401 1,800,338 1,516,515 - -
Enterprise Value (EV) 1 3,118,293 3,490,600 3,845,890 1,805,847 1,768,606 1,310,704 1,257,005 1,083,184
P/E ratio 36.7 x 24.6 x 27.2 x 30.3 x 25.6 x 16.7 x 14.8 x 12.5 x
Yield - - - - - 1.17% 1.03% 1.23%
Capitalization / Revenue 8.42 x 7.25 x 5.62 x 2.17 x 2.07 x 1.39 x 1.49 x 1.38 x
EV / Revenue 8.27 x 6.85 x 5.36 x 2.12 x 2.04 x 1.39 x 1.24 x 0.98 x
EV / EBITDA 25.6 x 22.1 x 19.5 x 11.4 x 10.1 x 6.84 x 6.62 x 5.07 x
EV / FCF 29.8 x 24.4 x 20 x 18.3 x 10.3 x 7.33 x 8.09 x 5.54 x
FCF Yield 3.35% 4.1% 5% 5.48% 9.71% 13.6% 12.4% 18%
Price to Book 6.42 x 4.79 x 4.35 x 1.98 x 1.87 x 1.49 x 1.43 x 1.28 x
Nbr of stocks (in thousands) 2,592,180 2,683,752 2,711,119 2,687,500 2,565,752 2,433,625 - -
Reference price 2 1,224 1,377 1,486 690.0 701.7 623.2 623.2 623.2
Announcement Date 5/15/19 5/22/20 5/13/21 5/26/22 5/18/23 5/14/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 376,844 509,711 717,289 853,062 868,687 941,168 1,015,434 1,100,822
EBITDA 1 121,943 157,659 196,842 158,205 175,710 191,668 189,741 213,470
EBIT 1 57,084 91,430 89,678 69,638 100,351 113,350 130,670 149,580
Operating Margin 15.15% 17.94% 12.5% 8.16% 11.55% 12.04% 12.87% 13.59%
Earnings before Tax (EBT) 1 96,221 166,645 165,578 59,550 89,185 101,596 124,317 143,760
Net income 1 87,600 149,263 150,308 61,959 72,509 79,741 107,329 124,169
Net margin 23.25% 29.28% 20.96% 7.26% 8.35% 8.47% 10.57% 11.28%
EPS 2 33.38 55.93 54.70 22.74 27.46 31.24 42.02 49.74
Free Cash Flow 1 104,478 143,109 192,263 98,874 171,663 170,714 155,459 195,376
FCF margin 27.72% 28.08% 26.8% 11.59% 19.76% 18.11% 15.31% 17.75%
FCF Conversion (EBITDA) 85.68% 90.77% 97.67% 62.5% 97.7% 87.19% 81.93% 91.52%
FCF Conversion (Net income) 119.27% 95.88% 127.91% 159.58% 236.75% 180.33% 144.84% 157.35%
Dividend per Share 2 - - - - - 7.306 6.405 7.647
Announcement Date 5/15/19 5/22/20 5/13/21 5/26/22 5/18/23 5/14/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 200,690 242,580 204,052 205,555 207,176 247,756 208,200 455,956 234,156 224,790 260,348 221,874 247,034 241,806 280,156 246,402
EBITDA 1 34,840 51,364 23,373 41,114 43,311 59,162 32,123 - 52,052 49,237 59,572 30,807 47,485 45,791 57,551 42,620
EBIT 1 15,006 7,068 16,717 24,943 25,137 35,031 15,240 50,271 42,490 33,584 22,511 14,765 33,143 31,729 40,447 25,863
Operating Margin 7.48% 2.91% 8.19% 12.13% 12.13% 14.14% 7.32% 11.03% 18.15% 14.94% 8.65% 6.65% 13.42% 13.12% 14.44% 10.5%
Earnings before Tax (EBT) 1 3,946 29,326 -19,560 29,177 -15,759 50,459 25,308 - 36,172 38,257 17,318 9,849 32,774 31,155 42,855 23,356
Net income 1 5,367 20,429 -16,241 22,739 -20,561 46,815 23,516 - 34,332 27,706 14,433 3,270 26,764 23,922 33,375 20,569
Net margin 2.67% 8.42% -7.96% 11.06% -9.92% 18.9% 11.29% - 14.66% 12.33% 5.54% 1.47% 10.83% 9.89% 11.91% 8.35%
EPS 2 1.970 7.510 -6.070 8.510 -7.770 17.91 9.000 - 13.30 10.77 5.650 1.300 12.37 11.47 13.39 6.706
Dividend per Share - - - - - - - - - - - - - - 3.616 3.775
Announcement Date 11/18/21 2/24/22 5/26/22 8/4/22 11/17/22 2/23/23 5/18/23 5/18/23 8/10/23 11/16/23 2/7/24 5/14/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 55,676 205,073 181,940 48,554 31,732 264,700 259,510 433,331
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 104,478 143,109 192,263 98,874 171,663 170,714 155,459 195,376
ROE (net income / shareholders' equity) 20.4% 23.9% 17.8% 15.2% 7.48% 9.35% 10.2% 10.9%
ROA (Net income/ Total Assets) 10.4% 13.1% 10% 8.48% 4.21% 6.15% 5.56% 6.05%
Assets 1 841,100 1,139,064 1,501,601 730,861 1,724,311 1,539,933 1,930,068 2,052,604
Book Value Per Share 2 191.0 288.0 341.0 348.0 375.0 417.0 437.0 486.0
Cash Flow per Share 2 57.60 67.70 84.40 52.40 75.60 54.20 67.70 73.30
Capex 1 46,497 37,498 39,523 42,028 30,373 41,229 40,077 43,471
Capex / Sales 12.34% 7.36% 5.51% 4.93% 3.5% 4.37% 3.95% 3.95%
Announcement Date 5/15/19 5/22/20 5/13/21 5/26/22 5/18/23 5/14/24 - -
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
44
Last Close Price
623.2 CNY
Average target price
766.9 CNY
Spread / Average Target
+23.06%
Consensus
  1. Stock Market
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  4. Financials Alibaba Group Holding Limited
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