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 11,441 - -
Change - -17.49% 30.14% 8.32% -1.09% -14.06% - -
Enterprise Value (EV) 1 11,571 9,548 12,426 13,459 11,852 8,972 7,680 6,280
Change - -17.49% 30.14% 8.32% -11.94% -24.3% -14.4% -18.23%
P/E - - - - 10.4x 7.93x 5.7x 4.51x
PBR - - - - - - - -
PEG - - - - - 0.85x 0.1x 0.2x
Capitalization / Revenue - 0.77x 1.08x 1.13x 1.23x 0.91x 0.82x 0.7x
EV / Revenue - 0.77x 1.08x 1.13x 1.1x 0.71x 0.55x 0.39x
EV / EBITDA - 10.4x 9.62x 9.9x 9.63x 8.49x 5.31x 3.53x
EV / EBIT - 16.2x 12.5x 12.9x 12.9x 10.2x 6.25x 4.08x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - - - 0.1975 0.29 0.4 0.51
Rate of return - - - - 2.63% 4.63% 6.38% 8.14%
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 6.266 6.266 6.266
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.($)
7.93x0.71x8.49x4.63% 1.71B
26.31x4.51x20.14x0.88% 324B
35.53x5.52x30.07x1.02% 174B
15x1.15x7.39x4.91% 63.84B
18.41x1.72x13.96x2.96% 58.02B
29.62x4.17x17.41x0.44% 46.39B
15.17x1.55x8.87x2.86% 38.46B
11.04x1.04x10.43x4.73% 34.42B
30.08x4.38x17.46x1.66% 28.74B
12.33x0.4x4.15x3.99% 25.98B
Average 20.14x 2.52x 13.84x 2.81% 79.47B
Weighted average by Cap. 25.47x 3.80x 19.06x 1.76%

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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