Financials BAIC Motor Corporation Limited

Equities

1958

CNE100001TJ4

Auto & Truck Manufacturers

Market Closed - Hong Kong S.E. 04:09:00 2024-05-03 EDT 5-day change 1st Jan Change
2.29 HKD +0.88% Intraday chart for BAIC Motor Corporation Limited +4.09% +0.44%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 31,661 19,361 21,879 14,654 16,610 17,005 - -
Enterprise Value (EV) 1 5,950 -8,327 3,294 -2,260 16,610 -5,255 -13,375 -18,452
P/E ratio 7.9 x 10.1 x 5.69 x 3.52 x 5.45 x 4.7 x 4.92 x 4.48 x
Yield 4.3% 3.31% 5.86% 9.3% - 6.85% 7.02% 6.27%
Capitalization / Revenue 0.18 x 0.11 x 0.12 x 0.08 x 0.08 x 0.09 x 0.09 x 0.1 x
EV / Revenue 0.03 x -0.05 x 0.02 x -0.01 x 0.08 x -0.03 x -0.07 x -0.1 x
EV / EBITDA 0.2 x -0.27 x 0.1 x -0.06 x 0.53 x -0.17 x -0.44 x -0.62 x
EV / FCF 0.22 x -0.47 x 0.74 x -0.18 x - -0.46 x -0.95 x -1.33 x
FCF Yield 462% -212% 135% -550% - -217% -105% -75.5%
Price to Book 0.63 x 0.38 x 0.42 x 0.27 x - 0.29 x 0.28 x 0.27 x
Nbr of stocks (in thousands) 8,015,338 8,015,338 8,015,338 8,015,338 8,015,338 8,015,338 - -
Reference price 2 3.950 2.416 2.730 1.828 2.072 2.122 2.122 2.122
Announcement Date 20-03-26 21-03-24 22-03-24 23-03-24 24-03-22 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 174,633 176,973 175,916 190,463 197,949 187,901 187,137 177,290
EBITDA 1 29,125 31,409 33,431 34,965 31,399 31,456 30,303 29,570
EBIT 1 21,684 22,345 23,960 26,009 22,569 21,121 19,684 19,221
Operating Margin 12.42% 12.63% 13.62% 13.66% 11.4% 11.24% 10.52% 10.84%
Earnings before Tax (EBT) 1 21,314 20,430 22,920 24,729 21,000 20,641 20,221 20,000
Net income 1 4,083 2,029 3,858 4,197 3,030 3,541 3,382 3,794
Net margin 2.34% 1.15% 2.19% 2.2% 1.53% 1.88% 1.81% 2.14%
EPS 2 0.5000 0.2400 0.4800 0.5200 0.3800 0.4513 0.4310 0.4735
Free Cash Flow 1 27,513 17,650 4,457 12,429 - 11,412 14,065 13,926
FCF margin 15.75% 9.97% 2.53% 6.53% - 6.07% 7.52% 7.85%
FCF Conversion (EBITDA) 94.46% 56.19% 13.33% 35.55% - 36.28% 46.41% 47.09%
FCF Conversion (Net income) 673.89% 869.94% 115.53% 296.16% - 322.3% 415.83% 367.01%
Dividend per Share 2 0.1700 0.0800 0.1600 0.1700 - 0.1454 0.1489 0.1331
Announcement Date 20-03-26 21-03-24 22-03-24 23-03-24 24-03-22 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 S1
Net sales 86,869 77,854 99,119 90,375 - 85,540 83,679
EBITDA - - - - - - -
EBIT - - 12,112 13,978 - 9,983 11,464
Operating Margin - - 12.22% 15.47% - 11.67% 13.7%
Earnings before Tax (EBT) - - 11,342 - - - -
Net income 1 - 1,047 981.9 - 1,189 1,100 2,158
Net margin - 1.34% 0.99% - - 1.29% 2.58%
EPS - - 0.1200 - - - 0.2700
Dividend per Share - - - - - - -
Announcement Date 20-03-26 20-08-31 21-03-24 21-08-30 22-03-24 22-03-24 22-08-29
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 25,711 27,689 18,585 16,914 - 22,260 30,380 35,457
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 27,513 17,650 4,457 12,429 - 11,412 14,065 13,926
ROE (net income / shareholders' equity) 8.26% 4.01% 7.44% 7.84% - 6.21% 5.56% 5.98%
ROA (Net income/ Total Assets) 2.24% 1.04% 2.06% 2.37% - 2.04% 2.09% 2.1%
Assets 1 182,622 195,048 187,290 177,109 - 173,597 161,826 180,668
Book Value Per Share 2 6.290 6.370 6.560 6.800 - 7.400 7.700 7.880
Cash Flow per Share 2 4.490 3.240 1.610 2.330 - 2.570 3.010 2.910
Capex 1 8,440 8,358 8,445 6,225 - 9,127 8,579 9,247
Capex / Sales 4.83% 4.72% 4.8% 3.27% - 4.86% 4.58% 5.22%
Announcement Date 20-03-26 21-03-24 22-03-24 23-03-24 24-03-22 - - -
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
HOLD
Number of Analysts
8
Last Close Price
2.122 CNY
Average target price
2.031 CNY
Spread / Average Target
-4.27%
Consensus

Quarterly revenue - Rate of surprise

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