Financials China Resources Land Limited OTC Markets

Equities

CRBJY

US16942S1050

Real Estate Development & Operations

Market Closed - OTC Markets 11:11:25 2024-06-20 EDT 5-day change 1st Jan Change
34.9 USD +1.96% Intraday chart for China Resources Land Limited 0.00% +0.66%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 276,680 228,190 233,895 254,931 199,666 189,326 - -
Enterprise Value (EV) 1 376,566 339,660 414,245 327,061 329,394 328,046 330,125 354,227
P/E ratio 8.64 x 6.47 x 5.86 x 7.95 x 5.87 x 5.89 x 5.58 x 5.18 x
Yield 3.01% 4.63% 5.19% 4.47% 5.58% 6.11% 6.42% 6.8%
Capitalization / Revenue 1.72 x 1.07 x 0.89 x 1.08 x 0.73 x 0.68 x 0.66 x 0.63 x
EV / Revenue 2.34 x 1.6 x 1.58 x 1.38 x 1.21 x 1.18 x 1.15 x 1.18 x
EV / EBITDA 7.51 x 6.25 x 7.22 x 6.46 x 6.01 x 5.52 x 5.27 x 5.35 x
EV / FCF 11.7 x 14.6 x 72.3 x 11.9 x - 13.4 x 8.95 x 7.06 x
FCF Yield 8.58% 6.86% 1.38% 8.4% - 7.44% 11.2% 14.2%
Price to Book 1.34 x 0.95 x 0.84 x 0.92 x 0.7 x 0.62 x 0.58 x 0.54 x
Nbr of stocks (in thousands) 7,130,940 7,130,940 7,130,940 7,130,940 7,130,940 7,130,940 - -
Reference price 2 38.80 32.00 32.80 35.75 28.00 26.55 26.55 26.55
Announcement Date 3/26/20 3/29/21 3/30/22 3/29/23 3/25/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 161,097 212,453 261,539 236,423 272,393 277,995 287,874 299,582
EBITDA 1 50,117 54,303 57,386 50,632 54,768 59,439 62,649 66,205
EBIT 1 49,272 53,207 55,776 49,109 53,344 57,359 60,330 64,461
Operating Margin 30.59% 25.04% 21.33% 20.77% 19.58% 20.63% 20.96% 21.52%
Earnings before Tax (EBT) 1 66,511 71,184 74,434 63,381 72,061 63,348 66,755 71,878
Net income 1 31,265 35,265 39,952 32,075 34,020 32,508 34,677 36,718
Net margin 19.41% 16.6% 15.28% 13.57% 12.49% 11.69% 12.05% 12.26%
EPS 2 4.493 4.945 5.598 4.499 4.772 4.504 4.762 5.125
Free Cash Flow 1 32,309 23,290 5,732 27,480 - 24,410 36,872 50,206
FCF margin 20.06% 10.96% 2.19% 11.62% - 8.78% 12.81% 16.76%
FCF Conversion (EBITDA) 64.47% 42.89% 9.99% 54.27% - 41.07% 58.86% 75.83%
FCF Conversion (Net income) 103.34% 66.04% 14.35% 85.67% - 75.09% 106.33% 136.73%
Dividend per Share 2 1.168 1.481 1.702 1.597 1.563 1.622 1.705 1.805
Announcement Date 3/26/20 3/29/21 3/30/22 3/29/23 3/25/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 111,102 50,501 159,373 88,656 170,612 82,770 153,193 78,629 193,246 114,909 172,363 118,739 178,108
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - 24,019 31,142 18,906 31,502 19,678 38,393 20,781 34,892 22,219 33,329
Operating Margin - - - 27.09% 18.25% 22.84% 20.56% 25.03% 19.87% 18.08% 20.24% 18.71% 18.71%
Earnings before Tax (EBT) 1 - - - 29,853 - 22,488 - - - 24,570 41,414 - -
Net income 1 - 12,991 - 15,780 - 12,039 - - - 12,973 21,867 - -
Net margin - 25.72% - 17.8% - 14.55% - - - 11.29% 12.69% - -
EPS - - - 2.212 - 1.692 - - - - - - -
Dividend per Share - 0.1680 - 0.2080 - 0.2067 - - - - - - -
Announcement Date 3/26/20 8/26/20 3/29/21 8/25/21 3/30/22 8/30/22 3/29/23 8/29/23 3/25/24 - - - -
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 99,886 111,470 180,350 72,129 129,728 138,720 140,798 164,900
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.993 x 2.053 x 3.143 x 1.425 x 2.369 x 2.334 x 2.247 x 2.491 x
Free Cash Flow 1 32,309 23,290 5,732 27,480 - 24,410 36,872 50,206
ROE (net income / shareholders' equity) 17.5% 15.3% 15.1% 11.9% 12.3% 10.5% 10.2% 10%
ROA (Net income/ Total Assets) 4.04% 3.64% 3.56% 2.77% 2.76% 2.51% 2.61% 2.71%
Assets 1 773,036 969,436 1,121,368 1,159,582 1,232,427 1,293,537 1,328,262 1,354,006
Book Value Per Share 2 28.90 33.80 39.20 39.00 40.30 43.00 46.00 49.00
Cash Flow per Share 2 5.140 3.750 1.170 4.160 - 2.000 3.010 2.380
Capex 1 3,494 3,466 2,590 2,150 - 2,196 2,226 2,252
Capex / Sales 2.17% 1.63% 0.99% 0.91% - 0.79% 0.77% 0.75%
Announcement Date 3/26/20 3/29/21 3/30/22 3/29/23 3/25/24 - - -
1HKD in Million2HKD
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
25
Last Close Price
26.55 HKD
Average target price
39.29 HKD
Spread / Average Target
+47.98%
Consensus

Quarterly revenue - Rate of surprise

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