Company Valuation: Shantui Construction Machinery Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 4,665 6,428 6,200 7,414 14,553 17,890
Change - 37.78% -3.54% 19.58% 96.29% 22.93%
Enterprise Value (EV) 1 4,549 4,544 4,162 4,744 12,282 16,857
Change - -0.12% -8.4% 13.99% 158.88% 37.25%
P/E 46.3x 28.9x 9.82x 9.69x 13.2x 14.8x
PBR 1.33x 1.47x 1.27x 1.33x 2.78x 2.88x
PEG - 0.4x 0x 0.5x 0.3x 1.5x
Capitalization / Revenue 0.66x 0.7x 0.62x 0.7x 1.02x 1.22x
EV / Revenue 0.64x 0.5x 0.42x 0.45x 0.86x 1.15x
EV / EBITDA 16.4x 11.9x 11.3x 5.29x 9.15x 10.5x
EV / EBIT 45.8x 22.6x 21.5x 6.73x 11.2x 12.9x
EV / FCF 9.13x 13x 11.3x 7.57x 7.78x -26.7x
FCF Yield 11% 7.67% 8.86% 13.2% 12.9% -3.75%
Dividend per Share 2 - 0.025 0.076 0.15 0.09 0.135
Rate of return - 0.58% 1.84% 3.04% 0.93% 1.13%
EPS 2 0.0812 0.148 0.4207 0.5099 0.7346 0.8094
Distribution rate - 16.9% 18.1% 29.4% 12.3% 16.7%
Net sales 1 7,098 9,160 9,998 10,541 14,219 14,620
EBITDA 1 277.9 382.4 368.9 897 1,342 1,607
EBIT 1 99.42 200.9 193.6 704.6 1,092 1,305
Net income 1 100.8 209.5 631.7 765.4 1,102 1,211
Net Debt 1 -115.9 -1,884 -2,038 -2,670 -2,271 -1,033
Reference price 2 3.76 4.28 4.13 4.94 9.70 11.97
Nbr of stocks (in thousands) 1,240,788 1,501,853 1,501,253 1,500,855 1,500,327 1,494,602
Announcement Date 4/28/21 3/28/22 4/28/23 3/25/24 4/22/25 3/15/26
1CNY in Million2CNY
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 2.26B
30.14x5.15x22.9x0.76% 373B
16.27x1.35x8.92x2.97% 25.05B
10.73x1.02x7.69x3.44% 13.81B
10.97x1.34x9.76x6.09% 8.86B
9.44x0.76x7.32x2.05% 4.39B
9.92x0.52x4.19x3.29% 4.15B
8.23x0.46x4.73x4.21% 2.37B
12.98x1.2x7.35x3.03% 2.19B
Average 13.58x 1.48x 9.11x 3.23% 48.43B
Weighted average by Cap. 27.72x 4.59x 20.82x 1.15%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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