Financials Fujian Tianma Science and Technology Group Co., Ltd

Equities

603668

CNE100002Z99

Fishing & Farming

End-of-day quote Shanghai S.E. 18:00:00 2024-06-30 EDT 5-day change 1st Jan Change
11.58 CNY +2.03% Intraday chart for Fujian Tianma Science and Technology Group Co., Ltd -12.80% -30.55%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,176 2,814 2,657 5,387 7,692 7,999
Enterprise Value (EV) 1 1,989 2,566 2,734 6,239 10,335 10,837
P/E ratio 29 x 45.9 x 39.1 x 57 x 59.7 x -42.7 x
Yield 0.69% - - 0.32% 0.11% 0.05%
Capitalization / Revenue 1.44 x 1.16 x 0.73 x 0.99 x 1.1 x 1.14 x
EV / Revenue 1.32 x 1.06 x 0.75 x 1.15 x 1.47 x 1.55 x
EV / EBITDA 14.4 x 18.5 x 13.6 x 20.7 x 24.6 x 50.9 x
EV / FCF -44.5 x 87.5 x -7.68 x -8.92 x -7.53 x -14.2 x
FCF Yield -2.25% 1.14% -13% -11.2% -13.3% -7.02%
Price to Book 2.23 x 2.46 x 2.18 x 2.91 x 3.84 x 3.79 x
Nbr of stocks (in thousands) 329,741 374,700 373,733 472,205 472,172 479,749
Reference price 2 6.600 7.509 7.109 11.41 16.29 16.67
Announcement Date 4/30/19 2/27/20 4/29/21 4/6/22 4/28/23 4/26/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,506 2,428 3,640 5,419 7,008 6,998
EBITDA 1 138.1 138.4 200.6 302 420.7 212.8
EBIT 1 112.1 93.13 134.3 211.5 285 16.25
Operating Margin 7.45% 3.83% 3.69% 3.9% 4.07% 0.23%
Earnings before Tax (EBT) 1 84.86 84.84 126.6 158.6 194.1 -163.5
Net income 1 73.55 56.85 68.94 83.57 130.3 -187.6
Net margin 4.88% 2.34% 1.89% 1.54% 1.86% -2.68%
EPS 2 0.2273 0.1636 0.1818 0.2000 0.2727 -0.3909
Free Cash Flow 1 -44.73 29.33 -356.2 -699.3 -1,372 -760.7
FCF margin -2.97% 1.21% -9.79% -12.9% -19.58% -10.87%
FCF Conversion (EBITDA) - 21.19% - - - -
FCF Conversion (Net income) - 51.6% - - - -
Dividend per Share 2 0.0455 - - 0.0364 0.0182 0.009100
Announcement Date 4/30/19 2/27/20 4/29/21 4/6/22 4/28/23 4/26/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - 77.5 851 2,643 2,839
Net Cash position 1 187 248 - - - -
Leverage (Debt/EBITDA) - - 0.3865 x 2.818 x 6.284 x 13.34 x
Free Cash Flow 1 -44.7 29.3 -356 -699 -1,372 -761
ROE (net income / shareholders' equity) 8.35% 6.43% 7.47% 7.08% 7.51% -6%
ROA (Net income/ Total Assets) 3.7% 2.36% 2.78% 3.13% 2.79% 0.12%
Assets 1 1,990 2,410 2,476 2,670 4,665 -154,239
Book Value Per Share 2 2.960 3.060 3.260 3.920 4.240 4.400
Cash Flow per Share 2 1.750 0.9300 1.340 1.210 1.060 1.580
Capex 1 91.3 181 322 672 1,160 672
Capex / Sales 6.06% 7.44% 8.84% 12.41% 16.55% 9.61%
Announcement Date 4/30/19 2/27/20 4/29/21 4/6/22 4/28/23 4/26/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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