Financials Smoore International Holdings Limited

Equities

6969

KYG8245V1023

Tobacco

Market Closed - Hong Kong S.E. 04:08:22 2024-04-29 EDT 5-day change 1st Jan Change
6.88 HKD +0.29% Intraday chart for Smoore International Holdings Limited +4.24% +5.85%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 295,445 194,664 65,062 36,258 39,089 - -
Enterprise Value (EV) 1 286,218 183,674 50,426 36,258 22,388 21,385 25,839
P/E ratio 119 x 37.9 x 26.4 x 22.2 x 22.8 x 17.2 x 16.1 x
Yield 0.54% 0.98% 2.29% - 1.48% 2.02% 1.66%
Capitalization / Revenue 29.5 x 14.2 x 5.36 x 3.25 x 3.13 x 2.51 x 2.42 x
EV / Revenue 28.6 x 13.4 x 4.15 x 3.25 x 1.79 x 1.38 x 1.6 x
EV / EBITDA 66.9 x 30.7 x 17.3 x 17 x 9.6 x 7.59 x 8.23 x
EV / FCF 106 x 113 x -42.6 x - 25.7 x 17.3 x 18.4 x
FCF Yield 0.94% 0.89% -2.35% - 3.89% 5.79% 5.43%
Price to Book 23.1 x 10 x 3.19 x - 1.71 x 1.73 x 1.54 x
Nbr of stocks (in thousands) 5,865,151 6,010,226 6,078,169 6,137,239 6,137,699 - -
Reference price 2 50.37 32.39 10.70 5.908 6.369 6.369 6.369
Announcement Date 21-03-31 22-03-30 23-03-20 24-03-18 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,611 10,010 13,755 12,145 11,168 12,484 15,542 16,147
EBITDA 1 - 4,281 5,982 2,918 2,137 2,332 2,819 3,139
EBIT 1 - 4,049 5,650 2,352 1,458 1,798 2,266 2,317
Operating Margin - 40.45% 41.07% 19.36% 13.06% 14.41% 14.58% 14.35%
Earnings before Tax (EBT) 1 - 3,118 6,209 2,954 1,937 1,993 2,650 2,825
Net income 1 - 2,400 5,287 2,510 1,645 1,693 2,356 2,400
Net margin - 23.98% 38.44% 20.67% 14.73% 13.56% 15.16% 14.87%
EPS 2 - 0.4217 0.8540 0.4062 0.2667 0.2799 0.3694 0.3950
Free Cash Flow 1 - 2,696 1,630 -1,185 - 870.5 1,238 1,402
FCF margin - 26.93% 11.85% -9.76% - 6.97% 7.97% 8.68%
FCF Conversion (EBITDA) - 62.98% 27.24% - - 37.33% 43.92% 44.66%
FCF Conversion (Net income) - 112.34% 30.82% - - 51.41% 52.54% 58.4%
Dividend per Share 2 - 0.2700 0.3163 0.2455 - 0.0943 0.1289 0.1056
Announcement Date 20-06-29 21-03-31 22-03-30 23-03-20 24-03-18 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2022 S1 2023 S1
Net sales 6,953 5,653 -
EBITDA - - -
EBIT 1 3,151 - 566
Operating Margin 45.32% - -
Earnings before Tax (EBT) 1 - - 796.2
Net income 1 - - 717.3
Net margin - - -
EPS - - -
Dividend per Share - - -
Announcement Date 21-08-19 22-08-24 23-08-21
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - 9,227 10,989 14,636 - 16,701 17,704 13,250
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 2,696 1,630 -1,185 - 871 1,238 1,402
ROE (net income / shareholders' equity) - 36.5% 33.4% 12.7% - 7.63% 9.98% 9.28%
ROA (Net income/ Total Assets) - 26.6% 28.1% 10.6% - 6.3% 8.2% 7.7%
Assets 1 - 9,038 18,823 23,615 - 26,877 28,737 31,175
Book Value Per Share 2 - 2.180 3.220 3.350 - 3.720 3.690 4.130
Cash Flow per Share 2 - 0.5300 0.5800 0.0800 - 0.3200 0.4700 0.2800
Capex 1 - 339 1,959 1,655 - 1,444 1,208 1,447
Capex / Sales - 3.39% 14.24% 13.62% - 11.56% 7.77% 8.96%
Announcement Date 20-06-29 21-03-31 22-03-30 23-03-20 24-03-18 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
6.369 CNY
Average target price
8.96 CNY
Spread / Average Target
+40.70%
Consensus

Quarterly revenue - Rate of surprise

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