Financials Titan Wind Energy (Suzhou) Co.,Ltd

Equities

002531

CNE100000YH0

Renewable Energy Equipment & Services

End-of-day quote Shenzhen S.E. 18:00:00 2024-04-28 EDT 5-day change 1st Jan Change
10.34 CNY +10.00% Intraday chart for Titan Wind Energy (Suzhou) Co.,Ltd +8.50% -10.86%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 11,172 14,836 34,841 27,187 20,844 18,580 -
Enterprise Value (EV) 1 14,077 19,104 38,907 33,667 29,948 28,120 30,279
P/E ratio 15 x 14 x 26.6 x 43.2 x 26.4 x 10.4 x 7.8 x
Yield 1.58% 1.78% 0.41% - 0.65% 1.57% 1.84%
Capitalization / Revenue 1.87 x 1.84 x 4.27 x 4.03 x 2.7 x 1.33 x 1.03 x
EV / Revenue 2.36 x 2.37 x 4.76 x 5 x 3.88 x 2.02 x 1.68 x
EV / EBITDA 12 x 11.4 x 21.2 x 31.3 x 19.9 x 8.59 x 7.1 x
EV / FCF - - -213 x -40.2 x 36.4 x 24.9 x 13.8 x
FCF Yield - - -0.47% -2.49% 2.75% 4.01% 7.25%
Price to Book 1.94 x 2.24 x 4.49 x 3.3 x 2.35 x 1.68 x 1.42 x
Nbr of stocks (in thousands) 1,767,659 1,762,029 1,796,879 1,796,879 1,796,879 1,796,879 -
Reference price 2 6.320 8.420 19.39 15.13 11.60 10.34 10.34
Announcement Date 20-02-28 21-03-11 22-04-12 23-04-28 24-04-26 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 5,967 8,051 8,166 6,738 7,727 13,923 18,045
EBITDA 1 1,178 1,669 1,833 1,074 1,502 3,274 4,265
EBIT 1 872.8 1,312 1,498 659 891 2,182 2,926
Operating Margin 14.63% 16.29% 18.34% 9.78% 11.53% 15.67% 16.22%
Earnings before Tax (EBT) 1 877.9 1,314 1,489 666.5 886.8 2,097 2,786
Net income 1 746.5 1,050 1,310 628.1 795.2 1,827 2,458
Net margin 12.51% 13.04% 16.04% 9.32% 10.29% 13.12% 13.62%
EPS 2 0.4200 0.6000 0.7300 0.3500 0.4400 0.9933 1.326
Free Cash Flow 1 - - -182.7 -837.9 823.2 1,128 2,196
FCF margin - - -2.24% -12.44% 10.65% 8.1% 12.17%
FCF Conversion (EBITDA) - - - - 54.81% 34.45% 51.48%
FCF Conversion (Net income) - - - - 103.52% 61.75% 89.35%
Dividend per Share 2 0.1000 0.1500 0.0800 - 0.0750 0.1620 0.1900
Announcement Date 20-02-28 21-03-11 22-04-12 23-04-28 24-04-26 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - - - - - - 2,946 2,098 1,320 1,054 3,396 3,532 3,939
EBITDA - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS 2 0.1500 0.0181 0.1200 0.0700 0.1400 0.1097 0.2100 0.0800 0.0400 0.0826 0.2500 0.0900 0.3000
Dividend per Share - - - - - - - - - - - - -
Announcement Date 22-04-12 22-04-29 22-08-18 22-10-27 23-04-28 23-04-28 23-08-28 23-10-30 24-04-26 24-04-26 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 2,905 4,267 4,066 6,480 9,104 9,540 11,699
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 2.466 x 2.557 x 2.219 x 6.034 x 6.061 x 2.914 x 2.743 x
Free Cash Flow 1 - - -183 -838 823 1,128 2,196
ROE (net income / shareholders' equity) 13.5% 16.8% 18.1% 7.84% 9.37% 16.3% 18.3%
ROA (Net income/ Total Assets) 5.71% 7.55% 8.6% 3.53% - 7.01% 6.93%
Assets 1 13,071 13,908 15,224 17,791 - 26,048 35,467
Book Value Per Share 2 3.270 3.750 4.310 4.580 4.950 6.150 7.300
Cash Flow per Share 2 0.4800 0.1300 0.4300 0.4200 1.020 0.9700 1.490
Capex 1 872 1,140 959 1,592 1,006 978 963
Capex / Sales 14.61% 14.16% 11.74% 23.62% 13.02% 7.03% 5.33%
Announcement Date 20-02-28 21-03-11 22-04-12 23-04-28 24-04-26 - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
10.34 CNY
Average target price
16.8 CNY
Spread / Average Target
+62.48%
Consensus
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