Company Valuation: First Tractor Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 11,571 9,548 12,426 13,459 13,313 13,955 - -
Change - -17.49% 30.14% 8.32% -1.09% 4.83% - -
Enterprise Value (EV) 1 11,571 9,548 12,426 13,459 11,852 11,460 10,168 8,767
Change - -17.49% 30.14% 8.32% -11.94% -3.31% -11.28% -13.77%
P/E - - - - 10.4x 9.86x 7.44x 5.89x
PBR - - - - - - - -
PEG - - - - - 0.7x 0.2x 0.2x
Capitalization / Revenue - 0.77x 1.08x 1.13x 1.23x 1.07x 1x 0.86x
EV / Revenue - 0.77x 1.08x 1.13x 1.1x 0.88x 0.73x 0.54x
EV / EBITDA - 10.4x 9.62x 9.9x 9.63x 10.8x 7.03x 4.93x
EV / EBIT - 16.2x 12.5x 12.9x 12.9x 15.4x 8.27x 5.69x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - - - 0.1975 0.3 0.4 0.51
Rate of return - - - - 2.63% 3.67% 4.89% 6.23%
EPS 2 - - - - 0.7226 0.83 1.1 1.39
Distribution rate - - - - 27.3% 36.1% 36.4% 36.7%
Net sales 1 - 12,455 11,534 11,904 10,823 13,040 13,941 16,286
EBITDA 1 - 920.5 1,292 1,360 1,231 1,057 1,446 1,780
EBIT 1 - 588 996.3 1,046 918.2 742.2 1,229 1,541
Net income 1 438.2 681.1 997 922 812 930.6 1,181 1,454
Net Debt 1 - - - - -1,461 -2,495 -3,787 -5,188
Reference price 2 3.218 3.264 4.502 6.747 7.513 8.181 8.181 8.181
Nbr of stocks (in thousands) 1,123,645 1,123,645 1,123,645 1,123,645 1,123,645 1,123,645 - -
Announcement Date 3/29/22 3/21/23 3/27/24 3/27/25 3/26/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
38.52x5.91x32.89x0.93% 188B
22.24x - - 1.59% 9.44B
19.24x0.97x9.19x3.15% 3.92B
23.76x2.41x20.12x1.55% 3.58B
9.93x0.87x10.74x3.64% 2.06B
23.07x - - 1.23% 1.22B
11.09x - - 2.51% 1.13B
49.86x0.78x6.41x0.9% 891M
Average 24.71x 2.19x 15.87x 1.94% 26.32B
Weighted average by Cap. 36.71x 5.67x 31.85x 1.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  5. Valuation First Tractor Company Limited