Financials Ningxia Building Materials Group Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-05-09 EDT			5-day change	1st Jan Change
14.67 ^CNY	-1.81%		-1.87%	-18.18%

04-23	Ningxia Building Materials Group Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
03-27	Ningxia Building Materials Group Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,337	6,341	5,753	5,676	8,574	7,015	-	-
Enterprise Value (EV) ¹	5,337	6,341	5,753	5,676	8,574	7,015	7,015	7,015
P/E ratio	6.93 x	6.56 x	7.16 x	10.7 x	28.9 x	19.6 x	16.9 x	14.8 x
Yield	4.57%	5.05%	4.49%	-	-	-	-	-
Capitalization / Revenue	1.11 x	1.24 x	0.99 x	0.66 x	0.82 x	0.56 x	0.5 x	0.45 x
EV / Revenue	1.11 x	1.24 x	0.99 x	0.66 x	0.82 x	0.56 x	0.5 x	0.45 x
EV / EBITDA	4.02 x	-	4.52 x	5.43 x	11.8 x	8.74 x	7.83 x	7.16 x
EV / FCF	-	-	5,151,299 x	-	-	-	-	-
FCF Yield	-	-	0%	-	-	-	-	-
Price to Book	0.96 x	1 x	0.85 x	0.81 x	1.2 x	0.94 x	0.9 x	0.86 x
Nbr of stocks (in thousands)	478,181	478,181	478,181	478,181	478,181	478,181	-	-
Reference price ²	11.16	13.26	12.03	11.87	17.93	14.67	14.67	14.67
Announcement Date	20-03-20	21-03-05	22-03-09	23-03-21	24-03-27	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,790	5,110	5,783	8,658	10,410	12,638	14,045	15,646
EBITDA ¹	1,327	-	1,273	1,045	726.4	802.3	895.4	979.5
EBIT ¹	987.5	1,217	1,036	790.2	380.2	479	556.3	619.4
Operating Margin	20.61%	23.81%	17.92%	9.13%	3.65%	3.79%	3.96%	3.96%
Earnings before Tax (EBT) ¹	1,034	1,241	1,033	731.7	384	459.7	531.6	606.1
Net income ¹	768.9	964.9	801.2	529	297.4	359.4	414.3	471.8
Net margin	16.05%	18.88%	13.86%	6.11%	2.86%	2.84%	2.95%	3.02%
EPS ²	1.610	2.020	1.680	1.110	0.6200	0.7500	0.8700	0.9900
Free Cash Flow	-	-	1,117	-	-	-	-	-
FCF margin	-	-	19.31%	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	87.71%	-	-	-	-	-
FCF Conversion (Net income)	-	-	139.37%	-	-	-	-	-
Dividend per Share	0.5100	0.6700	0.5400	-	-	-	-	-
Announcement Date	20-03-20	21-03-05	22-03-09	23-03-21	24-03-27	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	1,117	-	-	-	-	-
ROE (net income / shareholders' equity)	14.7%	16.4%	12.4%	7.69%	4.21%	4.84%	5.34%	5.78%
ROA (Net income/ Total Assets)	10.5%	12.2%	-	-	-	-	-	-
Assets ¹	7,325	7,905	-	-	-	-	-	-
Book Value Per Share ²	11.70	13.20	14.10	14.70	14.90	15.50	16.20	17.10
Cash Flow per Share ²	2.070	2.280	2.780	1.650	1.660	1.000	3.960	0.1100
Capex ¹	-	211	213	-	-	79.9	73.8	8.54
Capex / Sales	-	4.14%	3.69%	-	-	0.63%	0.53%	0.05%
Announcement Date	20-03-20	21-03-05	22-03-09	23-03-21	24-03-27	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

14.67 CNY

Average target price

20.2 CNY

Spread / Average Target

+37.70%

	1st Jan change	Capi.
NINGXIA BUILDING MATERIALS GROUP CO.,LTD	-18.18%	971M
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ANHUI CONCH CEMENT COMPANY LIMITED	+8.98%	16.62B
JAMES HARDIE INDUSTRIES PLC	-1.58%	15.93B
SHREE CEMENT LIMITED	-10.44%	11.08B
EAGLE MATERIALS INC.	+32.69%	9.27B
TIANSHAN MATERIAL CO., LTD.	-2.99%	7.77B
TAIWAN CEMENT CORP.	-4.45%	7.73B
BUZZI S.P.A.	+39.80%	7.68B
ACC LTD	+6.73%	5.31B