TINGYI CAYMAN ISLANDS HOLDING CORP |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8.86 HKD | +2.19% |
|
+3.75% | -6.93% |
| 04-17 | Tingyi (Cayman Islands) Holding Corp Announces Change of Directors | CI |
| 03-27 | Tingyi Logs 18% Boost in 2023 Profit | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 66,843 | 62,675 | 73,503 | 68,569 | 48,753 | 46,231 | - | - |
| Enterprise Value (EV) 1 | 66,843 | 54,978 | 71,305 | 73,864 | 48,753 | 52,722 | 52,090 | 51,294 |
| P/E ratio | 20.1 x | 15.4 x | 19.3 x | 26.1 x | 15.6 x | 13.3 x | 11.9 x | 11 x |
| Yield | 5.06% | 6.47% | 8.53% | - | - | 7.51% | 8.37% | 9.17% |
| Capitalization / Revenue | 1.08 x | 0.93 x | 0.99 x | 0.87 x | 0.61 x | 0.55 x | 0.52 x | 0.5 x |
| EV / Revenue | 1.08 x | 0.81 x | 0.96 x | 0.94 x | 0.61 x | 0.62 x | 0.59 x | 0.55 x |
| EV / EBITDA | 8.67 x | 5.87 x | 8.5 x | 10.2 x | 5.94 x | 6.18 x | 5.76 x | 5.38 x |
| EV / FCF | - | 8.58 x | 29.1 x | 54.7 x | - | 12.1 x | 11.2 x | 10.2 x |
| FCF Yield | - | 11.7% | 3.44% | 1.83% | - | 8.27% | 8.9% | 9.84% |
| Price to Book | 3.41 x | 2.97 x | 3.93 x | 5.13 x | - | 3.32 x | 3.25 x | 3.24 x |
| Nbr of stocks (in thousands) | 5,623,786 | 5,624,386 | 5,630,972 | 5,634,164 | 5,634,356 | 5,634,356 | - | - |
| Reference price 2 | 11.89 | 11.14 | 13.05 | 12.17 | 8.653 | 8.205 | 8.205 | 8.205 |
| Announcement Date | 20-03-23 | 21-03-22 | 22-03-28 | 23-03-27 | 24-03-26 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 61,978 | 67,618 | 74,082 | 78,717 | 80,418 | 84,554 | 88,577 | 92,743 |
| EBITDA 1 | 7,711 | 9,361 | 8,390 | 7,210 | 8,207 | 8,525 | 9,041 | 9,531 |
| EBIT 1 | 4,760 | 6,698 | 4,333 | 3,693 | 3,968 | 5,327 | 5,879 | 6,338 |
| Operating Margin | 7.68% | 9.91% | 5.85% | 4.69% | 4.93% | 6.3% | 6.64% | 6.83% |
| Earnings before Tax (EBT) 1 | 5,412 | 6,532 | 5,809 | 4,149 | 4,779 | 5,325 | 5,899 | 6,422 |
| Net income 1 | 3,331 | 4,062 | 3,802 | 2,632 | 3,117 | 3,453 | 3,847 | 4,195 |
| Net margin | 5.37% | 6.01% | 5.13% | 3.34% | 3.88% | 4.08% | 4.34% | 4.52% |
| EPS 2 | 0.5920 | 0.7215 | 0.6751 | 0.4671 | 0.5531 | 0.6149 | 0.6871 | 0.7491 |
| Free Cash Flow 1 | - | 6,407 | 2,452 | 1,351 | - | 4,361 | 4,637 | 5,045 |
| FCF margin | - | 9.47% | 3.31% | 1.72% | - | 5.16% | 5.23% | 5.44% |
| FCF Conversion (EBITDA) | - | 68.44% | 29.22% | 18.74% | - | 51.16% | 51.29% | 52.94% |
| FCF Conversion (Net income) | - | 157.71% | 64.48% | 51.34% | - | 126.32% | 120.54% | 120.27% |
| Dividend per Share 2 | 0.6013 | 0.7210 | 1.114 | - | - | 0.6162 | 0.6865 | 0.7523 |
| Announcement Date | 20-03-23 | 21-03-22 | 22-03-28 | 23-03-27 | 24-03-26 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 31,483 | 32,934 | 34,683 | 35,396 | 38,686 | 38,217 | 40,501 | 40,907 | 39,511 | 42,724 | 41,807 | 45,011 | 44,166 |
| EBITDA | - | - | - | - | - | - | 3,792 | - | - | - | - | - | - |
| EBIT 1 | 2,193 | - | 2,944 | 2,231 | 2,102 | 1,473 | 2,220 | 2,151 | 1,817 | 2,635 | 2,381 | - | - |
| Operating Margin | 6.97% | - | 8.49% | 6.3% | 5.43% | 3.85% | 5.48% | 5.26% | 4.6% | 6.17% | 5.7% | - | - |
| Earnings before Tax (EBT) 1 | 2,860 | 3,665 | 2,867 | 3,215 | - | 1,997 | 2,152 | 2,613 | 2,166 | 2,903 | 2,384 | 3,340 | 2,606 |
| Net income 1 | 1,828 | 2,380 | 1,682 | 2,035 | 1,767 | 1,253 | 1,379 | 1,638 | 1,480 | 1,697 | 1,495 | - | - |
| Net margin | 5.81% | 7.23% | 4.85% | 5.75% | 4.57% | 3.28% | 3.4% | 4% | 3.75% | 3.97% | 3.58% | - | - |
| EPS | 0.3248 | - | 0.2987 | - | - | 0.2224 | - | 0.2904 | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 20-03-23 | 20-08-24 | 21-03-22 | 21-08-23 | 22-03-28 | 22-08-22 | 23-03-27 | 23-08-22 | 24-03-26 | - | - | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 5,295 | - | 6,490 | 5,859 | 5,063 |
| Net Cash position 1 | - | 7,697 | 2,197 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | 0.7344 x | - | 0.7613 x | 0.6481 x | 0.5312 x |
| Free Cash Flow 1 | - | 6,407 | 2,452 | 1,351 | - | 4,361 | 4,637 | 5,045 |
| ROE (net income / shareholders' equity) | 14.1% | 20% | 19.1% | 16.4% | - | 24.1% | 26.3% | 27.5% |
| ROA (Net income/ Total Assets) | 4.97% | 6.8% | 6.24% | 4.43% | - | 6.4% | 6.95% | 7.75% |
| Assets 1 | 66,959 | 59,746 | 60,918 | 59,379 | - | 53,921 | 55,379 | 54,126 |
| Book Value Per Share 2 | 3.480 | 3.750 | 3.320 | 2.370 | - | 2.470 | 2.530 | 2.530 |
| Cash Flow per Share 2 | 1.390 | 1.520 | 0.9600 | 0.7900 | - | 1.410 | 1.320 | 1.340 |
| Capex 1 | - | 2,147 | 2,998 | 3,124 | - | 3,257 | 3,166 | 3,115 |
| Capex / Sales | - | 3.18% | 4.05% | 3.97% | - | 3.85% | 3.57% | 3.36% |
| Announcement Date | 20-03-23 | 21-03-22 | 22-03-28 | 23-03-27 | 24-03-26 | - | - | - |
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-
Sell
Buy
Mean consensus
BUY
Number of Analysts
23
Last Close Price
8.205
CNY
Average target price
10.12
CNY
Spread / Average Target
+23.31%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -6.93% | 6.24B | |
| -14.45% | 8.14B | |
| +2.84% | 7.82B | |
| -2.21% | 1.66B | |
| -9.22% | 947M | |
| -16.16% | 686M | |
| -8.80% | 608M | |
| -18.72% | 603M | |
| +18.96% | 542M | |
| -9.83% | 367M |
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