Company Valuation: Harbin Gloria Pharmaceuticals Co., Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 7,034 6,397 5,583 5,517 5,677 6,852
Change - -9.06% -12.71% -1.18% 2.89% 20.71%
Enterprise Value (EV) 1 7,491 6,459 5,750 5,482 5,168 6,014
Change - -13.78% -10.98% -4.66% -5.72% 16.38%
P/E 17.6x 142x -19.2x 45.9x 24.2x 18.2x
PBR 3.81x 3.38x 3.42x 3.32x 2.91x 2.99x
PEG - -1.6x 0x -0x 0.3x 0.3x
Capitalization / Revenue 2.3x 2.03x 1.8x 2.1x 2.33x 3.21x
EV / Revenue 2.45x 2.05x 1.85x 2.09x 2.12x 2.82x
EV / EBITDA 4,078x 25.5x 26.8x 19.9x 16.4x 18.8x
EV / EBIT -51.8x 55.8x 67.2x 31.9x 22.9x 26.1x
EV / FCF 66.4x 24.8x 112x 54.4x 14.7x 76.8x
FCF Yield 1.51% 4.03% 0.89% 1.84% 6.8% 1.3%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.182 0.0205 -0.1325 0.0547 0.1029 0.1686
Distribution rate - - - - - -
Net sales 1 3,055 3,145 3,108 2,626 2,441 2,135
EBITDA 1 1.837 253.2 214.5 275.5 315.9 319.7
EBIT 1 -144.7 115.7 85.61 172 225.3 230.8
Net income 1 400 45.04 -291.3 120.3 232.8 376.9
Net Debt 1 457 62.42 166.7 -35.59 -508.7 -838.1
Reference price 2 3.200 2.910 2.540 2.510 2.490 3.070
Nbr of stocks (in thousands) 2,198,123 2,198,123 2,198,123 2,198,123 2,279,750 2,232,028
Announcement Date 4/28/21 4/25/22 4/23/23 4/19/24 4/25/25 4/27/26
1CNY in Million2CNY
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 1.21B
32.9x11.93x24.23x0.6% 1,031B
29.45x6.54x18.31x2.02% 638B
33.1x7.75x16.02x2.65% 462B
105.72x5.91x25.05x2.35% 359B
19x4.63x11.48x2.87% 335B
20.37x5.28x13.08x3.03% 273B
20.79x4.31x12.28x2.05% 253B
26.62x6.92x12.32x2.39% 228B
-45.08x6.57x25.65x2.21% 185B
Average 26.98x 6.65x 17.60x 2.24% 376.51B
Weighted average by Cap. 32.10x 7.72x 18.90x 1.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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