JIANGSU KING'S LUCK BREWERY JOINT-STOCK CO.,LTD. Financials Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd.
Equities
603369
CNE100001TH8
Distillers & Wineries
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 46.2 CNY | -2.63% |
|
-3.06% | -5.23% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 41,047 | 71,983 | 68,245 | 63,462 | 60,782 | 57,602 | - | - |
| Enterprise Value (EV) 1 | 39,440 | 68,943 | 64,288 | 58,681 | 55,224 | 51,061 | 47,670 | 50,010 |
| P/E ratio | 28.2 x | 45.9 x | 33.6 x | 25.4 x | 19.4 x | 15.1 x | 12.4 x | 10.6 x |
| Yield | 1.25% | 0.78% | 1.08% | 1.43% | 2.05% | 2.41% | 2.91% | 3.41% |
| Capitalization / Revenue | 8.43 x | 14.1 x | 10.7 x | 8.05 x | 6.02 x | 4.66 x | 3.85 x | 3.28 x |
| EV / Revenue | 8.1 x | 13.5 x | 10 x | 7.44 x | 5.47 x | 4.13 x | 3.19 x | 2.85 x |
| EV / EBITDA | 19.2 x | 31.3 x | 23.2 x | 16.8 x | 12.8 x | 10 x | 7.64 x | 6.73 x |
| EV / FCF | 34.1 x | 95.3 x | 26.3 x | 35.9 x | 91 x | 15.4 x | 11.5 x | 10.5 x |
| FCF Yield | 2.93% | 1.05% | 3.81% | 2.78% | 1.1% | 6.5% | 8.72% | 9.53% |
| Price to Book | 5.7 x | 8.71 x | 7.34 x | 5.77 x | 4.6 x | 3.64 x | 2.99 x | 2.52 x |
| Nbr of stocks (in thousands) | 1,254,500 | 1,254,500 | 1,254,500 | 1,246,800 | 1,246,800 | 1,246,800 | - | - |
| Reference price 2 | 32.72 | 57.38 | 54.40 | 50.90 | 48.75 | 46.20 | 46.20 | 46.20 |
| Announcement Date | 20-04-28 | 21-04-18 | 22-04-15 | 23-04-28 | 24-04-29 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,870 | 5,119 | 6,406 | 7,885 | 10,098 | 12,362 | 14,957 | 17,577 |
| EBITDA 1 | 2,055 | 2,204 | 2,766 | 3,484 | 4,328 | 5,107 | 6,241 | 7,426 |
| EBIT 1 | 1,951 | 2,092 | 2,712 | 3,341 | 4,179 | 5,055 | 6,210 | 7,334 |
| Operating Margin | 40.07% | 40.87% | 42.34% | 42.38% | 41.38% | 40.89% | 41.52% | 41.72% |
| Earnings before Tax (EBT) 1 | 1,942 | 2,082 | 2,699 | 3,328 | 4,162 | 5,083 | 6,208 | 7,267 |
| Net income 1 | 1,458 | 1,567 | 2,029 | 2,503 | 3,136 | 3,828 | 4,659 | 5,436 |
| Net margin | 29.94% | 30.61% | 31.68% | 31.74% | 31.06% | 30.96% | 31.15% | 30.93% |
| EPS 2 | 1.162 | 1.249 | 1.618 | 2.007 | 2.515 | 3.052 | 3.717 | 4.341 |
| Free Cash Flow 1 | 1,157 | 723.5 | 2,448 | 1,633 | 606.5 | 3,319 | 4,159 | 4,764 |
| FCF margin | 23.76% | 14.13% | 38.22% | 20.71% | 6.01% | 26.85% | 27.81% | 27.1% |
| FCF Conversion (EBITDA) | 56.31% | 32.83% | 88.49% | 46.87% | 14.01% | 64.99% | 66.63% | 64.15% |
| FCF Conversion (Net income) | 79.37% | 46.17% | 120.64% | 65.24% | 19.34% | 86.71% | 89.27% | 87.63% |
| Dividend per Share 2 | 0.4100 | 0.4500 | 0.5900 | 0.7300 | 1.000 | 1.112 | 1.343 | 1.577 |
| Announcement Date | 20-04-28 | 21-04-18 | 22-04-15 | 23-04-28 | 24-04-29 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,851 | 1,073 | 2,988 | 1,659 | - | 1,870 | 1,368 | 3,802 | 2,167 | 2,394 | 1,735 | 4,129 | 4,671 | 2,601 | 2,874 | 2,104 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 441.1 | 1,332 | 819.2 | - | 622.3 | 567.6 | 1,669 | 1,073 | 778.6 | 658.7 | 1,437 | 2,038 | - | - | 669.4 |
| Operating Margin | - | 41.12% | 44.59% | 49.37% | - | 33.28% | 41.48% | 43.89% | 49.5% | 32.52% | 37.97% | 34.81% | 43.63% | - | - | 31.81% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | 1,434 | - | - | - | - |
| Net income | - | - | - | - | 1,618 | - | - | - | - | - | - | 1,086 | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | 26.31% | - | - | - | - |
| EPS 2 | - | 0.2700 | 0.8040 | 0.4937 | 1.298 | 0.3700 | 0.3400 | 1.007 | 0.6300 | 0.4700 | 0.4000 | 0.8700 | 1.229 | 0.7500 | 0.5500 | 0.4700 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 21-08-24 | 22-04-15 | 22-04-29 | 22-08-30 | 22-08-30 | 22-10-28 | 23-04-28 | 23-04-28 | 23-08-28 | 23-10-30 | 24-04-29 | 24-04-29 | 24-04-30 | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,607 | 3,040 | 3,957 | 4,781 | 5,557 | 6,541 | 9,932 | 7,592 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,157 | 724 | 2,448 | 1,633 | 607 | 3,319 | 4,159 | 4,764 |
| ROE (net income / shareholders' equity) | 21.9% | 20.3% | 22.6% | 24.7% | 25.9% | 24.3% | 24.5% | 23.8% |
| ROA (Net income/ Total Assets) | 15.6% | 14.3% | 15.4% | 15.3% | 15.8% | 16.7% | 17.7% | 17.5% |
| Assets 1 | 9,325 | 10,957 | 13,142 | 16,309 | 19,907 | 22,858 | 26,368 | 31,002 |
| Book Value Per Share 2 | 5.740 | 6.590 | 7.410 | 8.820 | 10.60 | 12.70 | 15.50 | 18.30 |
| Cash Flow per Share 2 | 1.040 | 0.8900 | 2.410 | 2.220 | 2.230 | 3.140 | 3.580 | 4.700 |
| Capex 1 | 150 | 393 | 576 | 1,147 | 2,194 | 1,702 | 1,900 | 1,527 |
| Capex / Sales | 3.08% | 7.67% | 8.99% | 14.55% | 21.72% | 13.77% | 12.7% | 8.69% |
| Announcement Date | 20-04-28 | 21-04-18 | 22-04-15 | 23-04-28 | 24-04-29 | - | - | - |
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
C-
Sell
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
46.2
CNY
Average target price
68.49
CNY
Spread / Average Target
+48.25%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -5.23% | 7.93B | |
| -14.98% | 254B | |
| -8.74% | 68.39B | |
| -8.60% | 35.4B | |
| -20.03% | 29.07B | |
| -26.53% | 16.74B | |
| -9.33% | 13.65B | |
| -13.62% | 11.36B | |
| +14.20% | 10.87B | |
| -0.60% | 6.5B |
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- Financials Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd.
