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 11,857 - -
Change - -17.49% 30.14% 8.32% -1.09% -10.94% - -
Enterprise Value (EV) 1 11,571 9,548 12,426 13,459 11,852 9,388 8,095 6,695
Change - -17.49% 30.14% 8.32% -11.94% -20.79% -13.77% -17.3%
P/E - - - - 10.4x 8.56x 6.15x 4.87x
PBR - - - - - - - -
PEG - - - - - 0.92x 0.2x 0.2x
Capitalization / Revenue - 0.77x 1.08x 1.13x 1.23x 0.94x 0.85x 0.73x
EV / Revenue - 0.77x 1.08x 1.13x 1.1x 0.75x 0.58x 0.41x
EV / EBITDA - 10.4x 9.62x 9.9x 9.63x 8.88x 5.6x 3.76x
EV / EBIT - 16.2x 12.5x 12.9x 12.9x 10.6x 6.59x 4.34x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - - - 0.1975 0.29 0.4 0.51
Rate of return - - - - 2.63% 4.29% 5.91% 7.54%
EPS 2 - - - - 0.7226 0.79 1.1 1.39
Distribution rate - - - - 27.3% 36.7% 36.4% 36.7%
Net sales 1 - 12,455 11,534 11,904 10,823 12,555 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 1,046 918.2 883.6 1,229 1,541
Net income 1 438.2 681.1 997 922 812 897.6 1,181 1,454
Net Debt 1 - - - - -1,461 -2,469 -3,761 -5,161
Reference price 2 3.218 3.264 4.502 6.747 7.513 6.766 6.766 6.766
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
27.3x4.66x20.83x0.85% 336B
35.44x5.51x30.01x1.02% 173B
15.7x1.21x7.76x4.69% 66.8B
18.62x1.73x14.04x2.93% 58.33B
30.69x4.3x18.21x0.43% 48.45B
16.11x1.63x9.35x2.69% 40.66B
11.42x1.07x10.63x4.58% 35.71B
32.05x4.67x18.6x1.56% 30.7B
12.42x0.41x4.22x3.96% 26.22B
Average 22.20x 2.80x 14.85x 2.52% 90.65B
Weighted average by Cap. 26.11x 3.88x 19.43x 1.7%

Y-o-Y evolution of P/E

Valuation ratios - P/E - First Tractor Company Limited

Historical PBR trend

Valuation ratios - PBR - First Tractor Company Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - First Tractor Company Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - First Tractor Company Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - First Tractor Company Limited
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