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 12,480 - -
Change - -17.49% 30.14% 8.32% -1.09% -6.25% - -
Enterprise Value (EV) 1 11,571 9,548 12,426 13,459 11,852 10,106 8,852 7,478
Change - -17.49% 30.14% 8.32% -11.94% -14.73% -12.41% -15.52%
P/E - - - - 10.4x 8.57x 6.92x 5.5x
PBR - - - - - - - -
PEG - - - - - 0.5x 0.3x 0.2x
Capitalization / Revenue - 0.77x 1.08x 1.13x 1.23x 1.01x 0.91x 0.77x
EV / Revenue - 0.77x 1.08x 1.13x 1.1x 0.82x 0.64x 0.46x
EV / EBITDA - 10.4x 9.62x 9.9x 9.63x 10.1x 6.33x 4.35x
EV / EBIT - 16.2x 12.5x 12.9x 12.9x 11.8x 7.4x 4.99x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - - - 0.1975 0.31 0.38 0.48
Rate of return - - - - 2.63% 4.31% 5.28% 6.67%
EPS 2 - - - - 0.7226 0.84 1.04 1.31
Distribution rate - - - - 27.3% 36.9% 36.5% 36.6%
Net sales 1 - 12,455 11,534 11,904 10,823 12,330 13,774 16,134
EBITDA 1 - 920.5 1,292 1,360 1,231 997.4 1,397 1,718
EBIT 1 - 588 996.3 1,046 918.2 853.7 1,196 1,500
Net income 1 438.2 681.1 997 922 812 926 1,158 1,423
Net Debt 1 - - - - -1,461 -2,374 -3,628 -5,002
Reference price 2 3.218 3.264 4.502 6.747 7.513 7.200 7.200 7.200
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.($)
8.57x0.82x10.13x4.31% 1.85B
34.29x5.37x30.53x1.1% 168B
22.37x - - 1.59% 9.49B
18.5x0.94x8.82x3.22% 3.86B
24.24x2.46x20.56x1.52% 3.62B
22.06x - - 1.28% 1.18B
10.98x - - 2.53% 1.13B
46.76x0.74x6.08x0.96% 846M
Average 23.47x 2.07x 15.22x 2.06% 23.69B
Weighted average by Cap. 32.77x 5.14x 29.53x 1.22%

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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