Company Valuation: Rastar Group

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 4,255 4,516 3,695 4,616 4,519 7,014
Change - 6.14% -18.18% 24.92% -2.1% 55.22%
Enterprise Value (EV) 1 5,586 6,218 5,517 6,403 6,325 7,637
Change - 11.32% -11.27% 16.05% -1.22% 20.75%
P/E 171x -6.85x -11.9x 186x -9.84x 23.5x
PBR 1.45x 2.12x 1.99x 2.38x 3.13x 4.01x
PEG - 0x 0.2x -2x 0x -0x
Capitalization / Revenue 2.44x 3.21x 2.3x 2.66x 3.32x 3.35x
EV / Revenue 3.2x 4.42x 3.44x 3.7x 4.65x 3.65x
EV / EBITDA 14.4x -50x 91.7x 36.5x -39.7x 19.3x
EV / EBIT 32.5x -18x -42x 5,616x -20.7x 27.4x
EV / FCF 20.2x -13.8x -23.2x -31.9x -565x 105x
FCF Yield 4.94% -7.26% -4.32% -3.13% -0.18% 0.96%
Dividend per Share 2 0.01 - - - 0.01 0.03
Rate of return 0.29% - - - 0.27% 0.53%
EPS 2 0.02 -0.53 -0.25 0.02 -0.37 0.24
Distribution rate 50% - - - -2.7% 12.5%
Net sales 1 1,743 1,407 1,606 1,733 1,360 2,092
EBITDA 1 386.9 -124.3 60.16 175.4 -159.3 395.4
EBIT 1 171.8 -345 -131.4 1.14 -306.1 279.1
Net income 1 26.01 -662.6 -310.4 27.71 -457.7 301.6
Net Debt 1 1,330 1,701 1,822 1,787 1,806 622.6
Reference price 2 3.420 3.630 2.970 3.710 3.640 5.650
Nbr of stocks (in thousands) 1,244,198 1,244,198 1,244,198 1,244,198 1,241,489 1,241,489
Announcement Date 4/26/21 4/27/22 4/21/23 4/28/24 4/27/25 3/30/26
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 825M
13.81x2.92x7.25x2.48% 78.48B
21.09x3.79x13.4x14.82% 15.44B
10.9x1.41x4.13x1.01% 7.02B
26.12x2.49x11.73x1.72% 6.64B
13.48x2.45x10.69x4.33% 5.97B
14.24x3.45x9.04x5.25% 4.14B
15.74x5.39x12.77x3.19% 3.6B
19.16x2.21x11.54x4.86% 3.23B
10.14x1.04x4.69x1.31% 3.17B
Average 16.08x 2.80x 9.47x 4.33% 12.85B
Weighted average by Cap. 15.27x 2.92x 8.48x 4.08%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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  4. Valuation Rastar Group