Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 10,790 7,459 7,220 6,077 5,359 5,279
Enterprise Value (EV) 1 22,466 14,847 18,800 17,674 17,802 17,987
P/E ratio 17.5 x 16.7 x 9.17 x 21.6 x 26 x 66.3 x
Yield 1.23% 0.89% 1.1% 0.55% 0.4% 0.15%
Capitalization / Revenue 1.25 x 0.94 x 1 x 0.57 x 0.62 x 0.75 x
EV / Revenue 2.6 x 1.87 x 2.61 x 1.65 x 2.05 x 2.54 x
EV / EBITDA 14 x 8.82 x 15.6 x 14.1 x 28.9 x 17.5 x
EV / FCF -3.78 x 3.57 x -4.68 x -106 x -36.9 x 51.7 x
FCF Yield -26.4% 28% -21.4% -0.95% -2.71% 1.94%
Price to Book 1.68 x 1.03 x 0.96 x 0.77 x 0.67 x 0.65 x
Nbr of stocks (in thousands) 664,831 664,831 664,831 664,831 664,831 664,831
Reference price 2 16.23 11.22 10.86 9.140 8.060 7.940
Announcement Date 18-04-27 19-04-12 20-04-27 21-04-12 22-04-12 23-04-11
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 8,654 7,942 7,213 10,697 8,676 7,083
EBITDA 1 1,601 1,683 1,206 1,253 616.1 1,025
EBIT 1 1,404 1,479 1,020 1,047 465.3 879.1
Operating Margin 16.23% 18.63% 14.14% 9.79% 5.36% 12.41%
Earnings before Tax (EBT) 1 991.2 931.5 1,279 597.8 151.8 492.2
Net income 1 615.4 446.7 787.2 281.4 205.9 79.66
Net margin 7.11% 5.62% 10.91% 2.63% 2.37% 1.12%
EPS 2 0.9256 0.6719 1.184 0.4232 0.3097 0.1198
Free Cash Flow 1 -5,940 4,155 -4,014 -167.1 -481.9 348.2
FCF margin -68.64% 52.32% -55.65% -1.56% -5.55% 4.92%
FCF Conversion (EBITDA) - 246.9% - - - 33.96%
FCF Conversion (Net income) - 930.2% - - - 437.05%
Dividend per Share 2 0.2000 0.1000 0.1200 0.0500 0.0320 0.0120
Announcement Date 18-04-27 19-04-12 20-04-27 21-04-12 22-04-12 23-04-11
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 11,675 7,388 11,580 11,598 12,443 12,708
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 7.293 x 4.39 x 9.601 x 9.256 x 20.2 x 12.4 x
Free Cash Flow 1 -5,940 4,155 -4,014 -167 -482 348
ROE (net income / shareholders' equity) 9.56% 5.7% 8.59% 1.97% 0.8% 0.11%
ROA (Net income/ Total Assets) 2.41% 2.06% 1.4% 1.46% 0.68% 1.41%
Assets 1 25,517 21,661 56,323 19,259 30,413 5,664
Book Value Per Share 2 9.640 10.90 11.40 11.80 12.10 12.20
Cash Flow per Share 2 8.640 8.750 5.990 7.700 5.430 1.440
Capex 1 60.4 38.2 549 13.3 3.74 47.8
Capex / Sales 0.7% 0.48% 7.62% 0.12% 0.04% 0.67%
Announcement Date 18-04-27 19-04-12 20-04-27 21-04-12 22-04-12 23-04-11
1CNY in Million2CNY
Estimates
  1. Stock Market
  2. Equities
  3. 000042 Stock
  4. Financials Shenzhen Centralcon Investment Holding Co., Ltd.
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