Company Valuation: GuiZhou SanLi Pharmaceutical Co.,Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 8,252 6,483 5,637 7,738 5,205 4,735
Change - -21.44% -13.05% 37.27% -32.74% -9.02%
Enterprise Value (EV) 1 7,872 6,041 5,212 7,670 5,313 5,084
Change - -23.26% -13.73% 47.17% -30.74% -4.3%
P/E 84.4x 42.6x 28x 26.6x 19.4x 106x
PBR 8.4x 6.29x 4.55x 5.24x 3.45x 3.28x
PEG - 0.8x 0.9x 0.6x -3.44x -1.3x
Capitalization / Revenue 13.1x 6.9x 4.69x 4.73x 2.43x 2.78x
EV / Revenue 12.5x 6.43x 4.34x 4.69x 2.48x 2.99x
EV / EBITDA 69.7x 37x 23.7x 25.3x 13.2x 19.6x
EV / EBIT 75.1x 39.8x 25.5x 28.7x 16.2x 27.3x
EV / FCF -133x 110x 40.8x -209x 54.4x -88.4x
FCF Yield -0.75% 0.91% 2.45% -0.48% 1.84% -1.13%
Dividend per Share 2 0.25 - 0.1 0.2 0.34 0.06
Rate of return 1.23% - 0.73% 1.06% 2.62% 0.51%
EPS 2 0.24 0.37 0.49 0.71 0.67 0.11
Distribution rate 104% - 20.4% 28.2% 50.7% 54.5%
Net sales 1 630.2 939 1,201 1,635 2,144 1,703
EBITDA 1 113 163.1 220.2 303.2 402.3 258.8
EBIT 1 104.9 151.9 204.6 267.2 328.3 186.1
Net income 1 93.95 152.3 201.3 292.7 274 46.25
Net Debt 1 -380.1 -442.2 -425.1 -67.86 107.7 348.7
Reference price 2 20.26 15.78 13.72 18.88 13.00 11.70
Nbr of stocks (in thousands) 407,322 410,862 410,862 409,862 400,382 404,740
Announcement Date 4/28/21 4/21/22 4/14/23 4/26/24 4/22/25 4/26/26
1CNY in Million2CNY
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 684M
34.25x12.25x25.43x0.59% 1,028B
27.09x6.22x16.9x2.1% 611B
30.33x7.27x14.9x2.81% 432B
17.47x4.34x10.68x3.06% 323B
21.17x5.44x13.17x2.9% 277B
20.69x4.37x12.08x2.02% 257B
13.99x5.26x10.84x3.55% 217B
23.3x6.19x10.94x2.84% 192B
-46.85x5.61x31x2.5% 161B
Average 15.72x 6.33x 16.22x 2.48% 349.9B
Weighted average by Cap. 23.34x 7.66x 17.88x 2.04%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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