Financials Rigol Technologies Co., Ltd.

Equities

688337

CNE1000059H1

Electrical Components & Equipment

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-05-14 EDT			5-day change	1st Jan Change
30.2 ^CNY	-1.95%		-13.34%	-31.16%

04-29	Rigol Technologies Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02-25	Rigol Technologies Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	11,851	8,121	5,591	-	-
Enterprise Value (EV) ¹	11,851	8,121	5,591	5,591	5,591
P/E ratio	118 x	73.1 x	37.6 x	26.4 x	21.3 x
Yield	-	1.14%	2.2%	2.91%	3.81%
Capitalization / Revenue	18.8 x	12.1 x	6.47 x	4.7 x	3.61 x
EV / Revenue	18.8 x	12.1 x	6.47 x	4.7 x	3.61 x
EV / EBITDA	107 x	56 x	30.1 x	22 x	16.8 x
EV / FCF	-	-46 x	-349 x	91.7 x	40.5 x
FCF Yield	-	-2.17%	-0.29%	1.09%	2.47%
Price to Book	4.62 x	2.81 x	1.9 x	1.86 x	1.83 x
Nbr of stocks (in thousands)	179,538	185,123	185,123	-	-
Reference price ²	66.01	43.87	30.20	30.20	30.20
Announcement Date	2/27/23	2/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	630.6	670.5	863.7	1,190	1,549
EBITDA ¹	-	111.3	145.1	186	254	332
EBIT ¹	-	93.84	114.9	159	227.8	282
Operating Margin	-	14.88%	17.14%	18.41%	19.13%	18.21%
Earnings before Tax (EBT) ¹	-	99.02	113.7	161	229.8	284.5
Net income ¹	-3.898	92.49	108.3	148.7	211.5	261.5
Net margin	-	14.67%	16.15%	17.21%	17.77%	16.88%
EPS ²	-0.0270	0.5608	0.6000	0.8033	1.142	1.415
Free Cash Flow ¹	-	-	-176.4	-16	61	138
FCF margin	-	-	-26.31%	-1.85%	5.12%	8.91%
FCF Conversion (EBITDA)	-	-	-	-	24.02%	41.57%
FCF Conversion (Net income)	-	-	-	-	28.84%	52.77%
Dividend per Share ²	-	-	0.5000	0.6633	0.8800	1.150
Announcement Date	3/16/22	2/27/23	2/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2022 Q4
Net sales ¹	-	216.2
EBITDA	-	-
EBIT ¹	-	37.41
Operating Margin	-	17.3%
Earnings before Tax (EBT) ¹	-	43.44
Net income ¹	21.59	42.35
Net margin	-	19.58%
EPS ²	0.1216	0.2500
Dividend per Share	-	-
Announcement Date	10/23/22	2/27/23

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-176	-16	61	138
ROE (net income / shareholders' equity)	-	4.78%	4.02%	5.09%	7.03%	8.53%
ROA (Net income/ Total Assets)	-	4.99%	3.57%	4.56%	5.7%	7.03%
Assets ¹	-	1,853	3,037	3,264	3,714	3,720
Book Value Per Share ²	-	14.30	15.60	15.90	16.30	16.50
Cash Flow per Share ²	-	0.5800	-0.1000	0.5000	0.9800	1.050
Capex ¹	-	264	158	130	116	94.5
Capex / Sales	-	41.89%	23.57%	15.09%	9.75%	6.1%
Announcement Date	3/16/22	2/27/23	2/25/24	-	-	-

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

Ratings for Rigol Technologies Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

30.2 CNY

Average target price

47.48 CNY

Spread / Average Target

+57.22%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Electrical Measuring & Testing Instruments

	1st Jan change	Capi.
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Electrical Measuring & Testing Instruments