MAOYAN ENTERTAINMENT |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 10 HKD | -0.60% |
|
+8.70% | +11.36% |
| 03-25 | Jefferies Adjusts Maoyan Entertainment’s Price Target to HK$12.90 From HK$15.20, Keeps at Buy | MT |
| 03-22 | Maoyan Entertainment's 2023 Profit Surges Ninefold as Revenue More than Doubles | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 14,478 | 11,708 | 8,502 | 9,103 | 9,360 | 10,711 | - | - |
| Enterprise Value (EV) 1 | 13,554 | 10,581 | 6,454 | 7,717 | 9,360 | 7,697 | 6,546 | 5,572 |
| P/E ratio | 31.3 x | -18.1 x | 23.3 x | 88.4 x | 10.3 x | 11.7 x | 9.8 x | 8.78 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 3.39 x | 8.57 x | 2.56 x | 3.92 x | 1.97 x | 2.14 x | 1.94 x | 1.86 x |
| EV / Revenue | 3.18 x | 7.75 x | 1.94 x | 3.33 x | 1.97 x | 1.54 x | 1.18 x | 0.97 x |
| EV / EBITDA | 14.3 x | -29.4 x | 8.69 x | 24.1 x | 7.49 x | 5.82 x | 4.3 x | 3.32 x |
| EV / FCF | -14.1 x | 37.6 x | 11.5 x | 123 x | - | 7.08 x | 5.87 x | 7.1 x |
| FCF Yield | -7.1% | 2.66% | 8.67% | 0.82% | - | 14.1% | 17% | 14.1% |
| Price to Book | 1.72 x | 1.53 x | 1.06 x | 1.11 x | - | 1.07 x | 0.97 x | 0.88 x |
| Nbr of stocks (in thousands) | 1,129,766 | 1,136,466 | 1,141,611 | 1,143,964 | 1,146,779 | 1,158,013 | - | - |
| Reference price 2 | 12.82 | 10.30 | 7.447 | 7.957 | 8.162 | 9.250 | 9.250 | 9.250 |
| Announcement Date | 20-03-24 | 21-03-30 | 22-03-24 | 23-03-23 | 24-03-21 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,268 | 1,366 | 3,323 | 2,320 | 4,757 | 5,009 | 5,526 | 5,746 |
| EBITDA 1 | 946.4 | -360.3 | 742.7 | 320.1 | 1,250 | 1,322 | 1,523 | 1,680 |
| EBIT 1 | 675.9 | -604.2 | 538.3 | 162.1 | 1,098 | 1,170 | 1,430 | 1,568 |
| Operating Margin | 15.84% | -44.24% | 16.2% | 6.99% | 23.08% | 23.36% | 25.88% | 27.3% |
| Earnings before Tax (EBT) 1 | 661.5 | -628.6 | 534.8 | 181.3 | 1,154 | 1,202 | 1,420 | 1,571 |
| Net income 1 | 458.9 | -646.3 | 368.5 | 104.8 | 907.8 | 890.1 | 1,071 | 1,218 |
| Net margin | 10.75% | -47.32% | 11.09% | 4.52% | 19.08% | 17.77% | 19.38% | 21.19% |
| EPS 2 | 0.4100 | -0.5700 | 0.3200 | 0.0900 | 0.7900 | 0.7931 | 0.9436 | 1.053 |
| Free Cash Flow 1 | -962.3 | 281.6 | 559.7 | 62.91 | - | 1,087 | 1,116 | 784.5 |
| FCF margin | -22.55% | 20.62% | 16.84% | 2.71% | - | 21.7% | 20.19% | 13.65% |
| FCF Conversion (EBITDA) | - | - | 75.36% | 19.65% | - | 82.21% | 73.25% | 46.69% |
| FCF Conversion (Net income) | - | - | 151.88% | 60.03% | - | 122.12% | 104.13% | 64.43% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 20-03-24 | 21-03-30 | 22-03-24 | 23-03-23 | 24-03-21 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 S2 | 2022 S1 | 2023 S1 |
|---|---|---|---|---|---|
| Net sales | - | 1,800 | 1,524 | 1,191 | - |
| EBITDA | - | - | - | - | - |
| EBIT | - | - | - | 184.7 | - |
| Operating Margin | - | - | - | 15.51% | - |
| Earnings before Tax (EBT) | - | - | - | 191.3 | - |
| Net income 1 | -430.7 | - | - | 151.9 | 406.6 |
| Net margin | - | - | - | 12.75% | - |
| EPS 2 | -0.3800 | - | - | - | 0.3500 |
| Dividend per Share | - | - | - | - | - |
| Announcement Date | 20-08-17 | 21-08-19 | 22-03-24 | 22-08-18 | 23-08-17 |
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 | 924 | 1,127 | 2,048 | 1,386 | - | 3,015 | 4,166 | 5,140 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -962 | 282 | 560 | 62.9 | - | 1,087 | 1,116 | 785 |
| ROE (net income / shareholders' equity) | 10.1% | -5.48% | 6.92% | 2.88% | - | 9.98% | 10.7% | 10.7% |
| ROA (Net income/ Total Assets) | 6.89% | -3.97% | 4.99% | 2.19% | - | 7.11% | 7.66% | 7.86% |
| Assets 1 | 6,665 | 16,291 | 7,383 | 4,793 | - | 12,523 | 13,992 | 15,499 |
| Book Value Per Share 2 | 7.460 | 6.730 | 7.010 | 7.150 | - | 8.620 | 9.580 | 10.50 |
| Cash Flow per Share 2 | -0.8500 | 0.2600 | 0.5100 | 0.0700 | - | 0.8000 | 0.9100 | - |
| Capex 1 | 22.4 | 12.6 | 19.6 | 12.3 | - | 24.9 | 27.5 | 28.5 |
| Capex / Sales | 0.52% | 0.92% | 0.59% | 0.53% | - | 0.5% | 0.5% | 0.5% |
| Announcement Date | 20-03-24 | 21-03-30 | 22-03-24 | 23-03-23 | 24-03-21 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
9.25
CNY
Average target price
11.43
CNY
Spread / Average Target
+23.60%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +11.36% | 1.49B | |
| +8.49% | 18.16B | |
| -8.30% | 16.78B | |
| +18.61% | 7.81B | |
| +2.89% | 6.76B | |
| -30.69% | 3.42B | |
| -3.46% | 3.28B | |
| +24.75% | 2.9B | |
| +3.60% | 2.79B | |
| -3.33% | 2.17B |
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