ZHEJIANG TAITAN CO.,LTD. |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 9.22 CNY | -7.43% |
|
-6.96% | -25.65% |
| 05-09 | Zhejiang Taitan Co.,Ltd. Approves Cash Dividend for the Year 2023 | CI |
| 04-25 | Zhejiang Taitan Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 |
|---|---|---|---|
| Capitalization 1 | 2,674 | 2,551 | 2,678 |
| Enterprise Value (EV) 1 | 2,068 | 1,656 | 1,729 |
| P/E ratio | 36.4 x | 19.7 x | 20.7 x |
| Yield | 0.58% | 1.44% | 3.39% |
| Capitalization / Revenue | 2.15 x | 1.59 x | 1.91 x |
| EV / Revenue | 1.66 x | 1.03 x | 1.23 x |
| EV / EBITDA | 26.1 x | 12.9 x | 12.1 x |
| EV / FCF | -10.8 x | 5.83 x | 17.2 x |
| FCF Yield | -9.27% | 17.2% | 5.8% |
| Price to Book | 2.34 x | 2.02 x | 1.85 x |
| Nbr of stocks (in thousands) | 216,000 | 216,000 | 216,000 |
| Reference price 2 | 12.38 | 11.81 | 12.40 |
| Announcement Date | 3/14/22 | 3/21/23 | 4/16/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 732.2 | 583 | 667.8 | 1,243 | 1,601 | 1,400 |
| EBITDA 1 | 81.85 | 65.2 | 60.76 | 79.11 | 128.6 | 142.9 |
| EBIT 1 | 70.38 | 57.03 | 48.02 | 63.56 | 110.3 | 113.5 |
| Operating Margin | 9.61% | 9.78% | 7.19% | 5.11% | 6.89% | 8.1% |
| Earnings before Tax (EBT) 1 | 79.27 | 69.85 | 70.13 | 78.89 | 145.7 | 154.6 |
| Net income 1 | 69.05 | 59.4 | 59.89 | 72.73 | 130.2 | 130 |
| Net margin | 9.43% | 10.19% | 8.97% | 5.85% | 8.13% | 9.28% |
| EPS 2 | 0.4300 | 0.3700 | 0.3700 | 0.3400 | 0.6000 | 0.6000 |
| Free Cash Flow 1 | 20.56 | 4.77 | 82.39 | -191.7 | 284 | 100.3 |
| FCF margin | 2.81% | 0.82% | 12.34% | -15.42% | 17.74% | 7.16% |
| FCF Conversion (EBITDA) | 25.12% | 7.32% | 135.59% | - | 220.82% | 70.19% |
| FCF Conversion (Net income) | 29.77% | 8.03% | 137.56% | - | 218.16% | 77.19% |
| Dividend per Share | - | - | 0.0590 | 0.0720 | 0.1700 | 0.4200 |
| Announcement Date | 9/6/19 | 4/28/20 | 4/14/21 | 3/14/22 | 3/21/23 | 4/16/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 301 | 412 | 512 | 606 | 895 | 949 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | 20.6 | 4.77 | 82.4 | -192 | 284 | 100 |
| ROE (net income / shareholders' equity) | 11.9% | 8.48% | 7.53% | 7.56% | 10.2% | 9.69% |
| ROA (Net income/ Total Assets) | 4.02% | 3.08% | 2.24% | 2.23% | 3.06% | 2.63% |
| Assets 1 | 1,719 | 1,930 | 2,673 | 3,260 | 4,252 | 4,946 |
| Book Value Per Share 2 | 3.790 | 4.710 | 5.100 | 5.290 | 5.840 | 6.690 |
| Cash Flow per Share 2 | 1.860 | 2.170 | 3.200 | 2.170 | 4.010 | 5.270 |
| Capex 1 | 7.12 | 12.9 | 39.1 | 37.1 | 77.6 | 78 |
| Capex / Sales | 0.97% | 2.21% | 5.86% | 2.98% | 4.85% | 5.57% |
| Announcement Date | 9/6/19 | 4/28/20 | 4/14/21 | 3/14/22 | 3/21/23 | 4/16/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -25.65% | 275M | |
| -9.94% | 13.61B | |
| +6.01% | 5.28B | |
| +28.62% | 5.15B | |
| -3.72% | 5.02B | |
| -19.57% | 4.42B | |
| +14.13% | 4.32B | |
| +9.19% | 3.77B | |
| +40.31% | 3.8B | |
| -3.93% | 3.16B |
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