Financials Huaming Power Equipment Co.,Ltd

Equities

002270

CNE100000CR5

Heavy Electrical Equipment

End-of-day quote Shenzhen S.E. 18:00:00 2024-06-27 EDT 5-day change 1st Jan Change
22.24 CNY +4.71% Intraday chart for Huaming Power Equipment Co.,Ltd +5.10% +57.51%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 7,524 6,901 12,655 19,932 - -
Enterprise Value (EV) 1 7,524 6,901 11,946 19,282 19,439 19,769
P/E ratio 18 x 18.3 x 23.1 x 29.9 x 24.1 x 20.3 x
Yield - 3.9% 3.9% 2.88% 3.24% 3.86%
Capitalization / Revenue - 4.03 x 6.45 x 8.42 x 7.15 x 6.11 x
EV / Revenue - 4.03 x 6.09 x 8.15 x 6.98 x 6.06 x
EV / EBITDA - 14.5 x 17.1 x 24 x 18.5 x 16.1 x
EV / FCF - - 21.3 x 34.1 x 28.3 x 24.7 x
FCF Yield - - 4.69% 2.93% 3.53% 4.04%
Price to Book - 2.07 x 3.78 x 5.9 x 5.51 x 5.13 x
Nbr of stocks (in thousands) 759,239 896,225 896,225 896,225 - -
Reference price 2 9.910 7.700 14.12 22.24 22.24 22.24
Announcement Date 22-04-20 23-02-20 24-04-10 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net sales 1 - 1,712 1,961 2,367 2,787 3,261
EBITDA 1 - 476.6 697.3 802.5 1,049 1,228
EBIT 1 - 406.9 622 771.5 947.1 1,120
Operating Margin - 23.77% 31.72% 32.6% 33.99% 34.36%
Earnings before Tax (EBT) 1 - 418.9 645.8 807.9 982.9 1,155
Net income 1 416.9 359.4 542.4 668.7 827.6 978.9
Net margin - 21% 27.66% 28.26% 29.7% 30.02%
EPS 2 0.5500 0.4200 0.6100 0.7428 0.9228 1.093
Free Cash Flow 1 - - 560.4 565 687 799.7
FCF margin - - 28.58% 23.87% 24.65% 24.52%
FCF Conversion (EBITDA) - - 80.37% 70.41% 65.49% 65.12%
FCF Conversion (Net income) - - 103.33% 84.49% 83.01% 81.69%
Dividend per Share 2 - 0.3000 0.5500 0.6413 0.7211 0.8587
Announcement Date 22-04-20 23-02-20 24-04-10 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - 506.5 - 594.3 651.8 647.6 524.2 690.5
EBITDA - - - - - - - -
EBIT 1 - 88.82 - 224.9 249.1 114.5 186.3 279.6
Operating Margin - 17.54% - 37.83% 38.22% 17.68% 35.54% 40.49%
Earnings before Tax (EBT) - - - - - - - -
Net income 1 172.4 83.13 - 210 211.6 119.8 157.7 248.7
Net margin - 16.41% - 35.33% 32.47% 18.5% 30.08% 36.02%
EPS 2 0.1920 0.1000 - 0.2343 0.2362 0.1337 - -
Dividend per Share 2 - - - - - 0.8203 - -
Announcement Date 23-10-23 24-04-10 24-05-08 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - -
Net Cash position 1 - - 708 650 493 163
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 - - 560 565 687 800
ROE (net income / shareholders' equity) - 11% 16.1% 20% 23% 25.3%
ROA (Net income/ Total Assets) - - 12.1% 14.5% 16.6% 18%
Assets 1 - - 4,491 4,611 4,992 5,428
Book Value Per Share 2 - 3.720 3.740 3.770 4.040 4.340
Cash Flow per Share 2 - 0.5500 0.6900 0.6900 0.8800 1.080
Capex 1 - - 61.2 144 122 119
Capex / Sales - - 3.12% 6.08% 4.39% 3.64%
Announcement Date 22-04-20 23-02-20 24-04-10 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
22.24 CNY
Average target price
22.4 CNY
Spread / Average Target
+0.72%
Consensus
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