Financials AVIC Shenyang Aircraft Company Limited

Equities

600760

CNE000000MH6

Aerospace & Defense

End-of-day quote Shanghai S.E. 18:00:00 2024-04-29 EDT 5-day change 1st Jan Change
38.7 CNY +0.91% Intraday chart for AVIC Shenyang Aircraft Company Limited +1.28% -8.25%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 44,252 109,482 133,395 114,946 116,235 106,646 - -
Enterprise Value (EV) 1 44,252 96,852 111,777 92,563 116,235 106,646 106,646 106,646
P/E ratio 50.2 x 73.8 x 78.2 x 49.7 x 38.7 x 28.7 x 23.2 x 19.4 x
Yield - 0.31% 0.51% 0.68% 0.95% 1.14% 1.4% 1.69%
Capitalization / Revenue 1.86 x 4.01 x 3.91 x 2.76 x 2.51 x 1.97 x 1.67 x 1.43 x
EV / Revenue 1.86 x 4.01 x 3.91 x 2.76 x 2.51 x 1.97 x 1.67 x 1.43 x
EV / EBITDA 27.9 x 45.2 x 50.8 x 34 x 27.5 x 22.2 x 18.2 x 15.1 x
EV / FCF - - 14,564,791 x - - - - -
FCF Yield - - 0% - - - - -
Price to Book 5.09 x 10.8 x 11.7 x 8.95 x 7.7 x 5.86 x 4.89 x 4.04 x
Nbr of stocks (in thousands) 2,744,763 2,744,763 2,744,763 2,744,737 2,755,700 2,755,700 - -
Reference price 2 16.12 39.89 48.60 41.88 42.18 38.70 38.70 38.70
Announcement Date 20-04-25 21-03-08 22-03-08 23-04-09 24-01-17 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 23,761 27,316 34,088 41,598 46,248 54,125 63,923 74,462
EBITDA 1 1,584 2,422 2,625 3,381 4,233 4,811 5,851 7,086
EBIT 1 1,015 1,742 1,874 2,599 3,398 4,195 5,185 6,208
Operating Margin 4.27% 6.38% 5.5% 6.25% 7.35% 7.75% 8.11% 8.34%
Earnings before Tax (EBT) 1 1,014 1,738 1,864 2,611 3,395 4,194 5,185 6,208
Net income 1 877.8 1,480 1,696 2,305 3,008 3,710 4,584 5,499
Net margin 3.69% 5.42% 4.97% 5.54% 6.5% 6.85% 7.17% 7.39%
EPS 2 0.3214 0.5408 0.6214 0.8429 1.090 1.347 1.666 1.996
Free Cash Flow - - 9,159 - - - - -
FCF margin - - 26.87% - - - - -
FCF Conversion (EBITDA) - - 348.86% - - - - -
FCF Conversion (Net income) - - 540.11% - - - - -
Dividend per Share 2 - 0.1224 0.2500 0.2857 0.4000 0.4400 0.5433 0.6550
Announcement Date 20-04-25 21-03-08 22-03-08 23-04-09 24-01-17 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2
Net sales 1 9,172 - 12,009 10,467 11,319 - 13,975
EBITDA 539.2 - 651.8 901.8 - - -
EBIT 1 208.9 - 651 716.9 632.4 - 963.6
Operating Margin 2.28% - 5.42% 6.85% 5.59% - 6.9%
Earnings before Tax (EBT) 1 205.1 - 663.7 715.6 631.8 - 964.2
Net income 1 241.6 - 607.4 621.6 564.6 641.8 851.3
Net margin 2.63% - 5.06% 5.94% 4.99% - 6.09%
EPS 2 0.0929 - 0.2214 0.2286 0.2071 0.2357 0.3043
Dividend per Share 0.2071 - - - 0.2857 - -
Announcement Date 22-03-08 22-05-29 22-08-29 22-10-29 23-04-09 23-04-24 23-08-30
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - 12,630 21,619 22,383 - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - 9,159 - - - - -
ROE (net income / shareholders' equity) 10.6% 15.4% 15.4% 18.4% 21% 20.3% 21.2% 20.7%
ROA (Net income/ Total Assets) 3.05% 4.77% 3.55% 3.75% - 5.74% 6.08% 6.23%
Assets 1 28,827 31,038 47,817 61,417 - 64,691 75,402 88,340
Book Value Per Share 2 3.170 3.700 4.160 4.680 5.480 6.600 7.920 9.580
Cash Flow per Share 2 -0.4200 2.300 3.700 0.9800 -1.590 2.450 2.410 1.920
Capex 1 559 741 936 1,058 2,529 1,137 1,186 1,324
Capex / Sales 2.35% 2.71% 2.75% 2.54% 5.47% 2.1% 1.85% 1.78%
Announcement Date 20-04-25 21-03-08 22-03-08 23-04-09 24-01-17 - - -
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
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
38.7 CNY
Average target price
62.16 CNY
Spread / Average Target
+60.62%
Consensus
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