Company Valuation: ATA Creativity Global

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 239.3 211.3 274.7 258.2 191.2 175.5
Change - -11.68% 29.98% -5.99% -25.94% -8.22%
Enterprise Value (EV) 1 174.3 180.7 256.2 220.7 189.9 136.2
Change - 3.65% 41.75% -13.85% -13.93% -28.26%
P/E -2.47x -5.94x -5.75x -7.61x -5.39x -3.64x
PBR 1.23x 1.14x 1.93x 2.29x 2.42x 5.45x
PEG - 0.1x -0.2x 0.3x -0.88x -0.1x
Capitalization / Revenue 1.48x 1.05x 1.33x 1.17x 0.71x 0.65x
EV / Revenue 1.08x 0.89x 1.24x 1x 0.71x 0.51x
EV / EBITDA -2.34x -4.17x -7.53x -11.3x -10.1x -15.7x
EV / EBIT -1.67x -2.72x -4.53x -5.32x -4.41x -4.51x
EV / FCF -32x -9.92x 43.8x 9.78x -41.2x -60.9x
FCF Yield -3.13% -10.1% 2.28% 10.2% -2.43% -1.64%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -3.14 -1.145 -1.526 -1.08 -1.146 -1.52
Distribution rate - - - - - -
Net sales 1 162.2 202.2 206.8 221.6 268.1 268.1
EBITDA 1 -74.44 -43.36 -34 -19.51 -18.82 -8.703
EBIT 1 -104.4 -66.39 -56.59 -41.5 -43.04 -30.2
Net income 1 -92.2 -33.65 -47.89 -33.66 -36.1 -48.05
Net Debt 1 -64.94 -30.62 -18.53 -37.56 -1.318 -39.28
Reference price 2 7.769 6.800 8.782 8.223 6.175 5.528
Nbr of stocks (in thousands) 30,799 31,075 31,277 31,401 30,970 31,755
Announcement Date 4/13/21 4/26/22 4/12/23 4/10/24 4/10/25 3/31/26
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 44.53M
14.99x0.9x6.21x2.52% 7.48B
12.36x0.59x3.97x-.--% 5.44B
17.86x2.71x8.78x4.72% 5.35B
774.49x8.56x82.72x - 3.95B
12.9x1.23x5.02x - 3.79B
11.79x - - - 2.16B
Average 140.73x 2.80x 21.34x 2.41% 4.03B
Weighted average by Cap. 120.97x 2.42x 17.71x 2.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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