Company Valuation: HENGXIN T

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 682.8 1,280 1,750 450.8 546.9 610.9
Change - 87.48% 36.73% -74.25% 21.32% 11.69%
Enterprise Value (EV) 1 -394.1 558.4 804.1 261.8 1,157 2,124
Change - 241.66% 44% -67.44% 341.91% 83.53%
P/E 11.1x 18x 27.5x 6.47x 12.2x -13.5x
PBR 0.39x 0.71x 0.94x 0.23x 0.35x 0.4x
PEG - 1.1x -2.5x 0.67x -0.3x 0x
Capitalization / Revenue 0.6x 0.79x 0.86x 0.2x 0.22x 0.27x
EV / Revenue -0.35x 0.34x 0.39x 0.12x 0.46x 0.94x
EV / EBITDA -5.21x 6.18x 6.59x 1.28x 5.96x 12.9x
EV / EBIT -7.91x 7.65x 8.88x 2.08x 10.3x 26.3x
EV / FCF -1.14x -1.51x 1.92x -1.34x -3.98x -4.58x
FCF Yield -87.7% -66% 52% -74.5% -25.1% -21.8%
Dividend per Share 2 0.0158 - - - - -
Rate of return 0.9% - - - - -
EPS 2 0.158 0.1838 0.1639 0.1796 0.0966 -0.0971
Distribution rate 10% - - - - -
Net sales 1 1,139 1,626 2,040 2,256 2,520 2,247
EBITDA 1 75.68 90.4 122 205 194.2 164.2
EBIT 1 49.83 72.99 90.58 126.1 112.4 80.74
Net income 1 61.3 71.3 63.6 69.7 42.19 -42.43
Net Debt 1 -1,077 -721.8 -946.3 -189 610.2 1,513
Reference price 2 1.760 3.299 4.511 1.162 1.175 1.312
Nbr of stocks (in thousands) 388,000 388,000 388,000 388,000 465,600 465,600
Announcement Date 3/23/21 3/23/22 3/24/23 3/28/24 4/29/25 4/29/26
1CNY in Million2CNY
Estimates


Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA