Financials Agricultural Bank of China Limited

Equities

1288

CNE100000Q43

Banks

Market Closed - Hong Kong S.E. 04:08:11 2024-05-08 am EDT 5-day change 1st Jan Change
3.55 HKD +0.85% Intraday chart for Agricultural Bank of China Limited +1.14% +17.94%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,271,897 1,075,442 1,005,861 1,000,306 1,247,678 1,498,124 - -
Enterprise Value (EV) 1 1,271,897 1,075,442 1,005,861 1,000,306 1,247,678 1,498,124 1,498,124 1,498,124
P/E ratio 5.2 x 4.05 x 3.36 x 3.43 x 3.8 x 4.39 x 4.17 x 3.92 x
Yield 5.93% 7.74% 9.47% 9.39% - 7.15% 7.54% 7.94%
Capitalization / Revenue 2.03 x 1.63 x 1.39 x 1.38 x 1.79 x 2.15 x 2.04 x 1.94 x
EV / Revenue 2.03 x 1.63 x 1.39 x 1.38 x 1.79 x 2.15 x 2.04 x 1.94 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.55 x 0.38 x 0.32 x 0.37 x - 0.42 x 0.39 x 0.36 x
Nbr of stocks (in thousands) 349,983,034 349,983,034 349,983,034 349,983,034 349,983,034 349,983,034 - -
Reference price 2 3.065 2.390 2.184 2.367 2.736 3.248 3.248 3.248
Announcement Date 3/30/20 3/30/21 3/30/22 3/30/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 627,268 657,961 721,746 725,499 695,468 698,229 733,250 773,773
EBITDA - - - - - - - -
EBIT 1 266,305 265,971 461,471 451,476 443,163 452,746 475,990 500,276
Operating Margin 42.45% 40.42% 63.94% 62.23% 63.72% 64.84% 64.92% 64.65%
Earnings before Tax (EBT) 1 266,576 265,050 295,880 306,216 307,419 316,795 331,064 348,646
Net income 1 212,098 215,925 241,183 259,140 269,356 270,459 280,643 294,156
Net margin 33.81% 32.82% 33.42% 35.72% 38.73% 38.74% 38.27% 38.02%
EPS 2 0.5900 0.5900 0.6500 0.6900 0.7200 0.7390 0.7796 0.8290
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1819 0.1851 0.2068 0.2222 - 0.2321 0.2449 0.2578
Announcement Date 3/30/20 3/30/21 3/30/22 3/30/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 2021 Q4 2021 S2 2022 Q2 2022 S1 2022 Q4 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 1 304,883 339,774 366,254 175,865 - 181,802 387,659 160,099 176,429 - 167,854 161,820 - 186,147 161,887 - 163,285 160,317 - - -
EBITDA - - - - - - - - - - - - - - - - - - - - -
EBIT 185,940 231,731 249,563 - 211,908 123,336 261,688 73,234 118,672 - 108,727 - - 135,072 - - - - - - -
Operating Margin 60.99% 68.2% 68.14% - - 67.84% 67.5% 45.74% 67.26% - 64.77% - - 72.56% - - - - - - -
Earnings before Tax (EBT) 120,714 132,555 - - - - - 71,448 72,942 - 81,441 - - 79,439 - - - - - - -
Net income 86,053 108,834 122,278 - - 58,195 128,945 61,635 61,680 - 74,122 - - 70,386 - - - - - - -
Net margin 28.22% 32.03% 33.39% - - 32.01% 33.26% 38.5% 34.96% - 44.16% - - 37.81% - - - - - - -
EPS 0.2500 - - - - - - 0.1600 0.1700 0.3700 - - 0.3500 0.1900 - 0.4000 - - 0.4000 0.4100 0.4200
Dividend per Share - - - - - - - - - - - - - - - - - - - - -
Announcement Date 3/30/20 8/30/20 8/30/21 3/30/22 3/30/22 8/29/22 8/29/22 3/30/23 8/29/23 8/29/23 10/27/23 3/28/24 3/28/24 4/29/24 - - - - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 12.4% 11.4% 11.6% 11.3% 10.9% 10.4% 10% 9.91%
ROA (Net income/ Total Assets) 0.89% 0.83% 0.86% 0.82% 0.74% 0.66% 0.62% 0.56%
Assets 1 23,751,176 26,046,441 28,044,535 31,498,724 36,611,708 41,078,868 45,302,920 52,430,441
Book Value Per Share 2 5.570 6.300 6.900 6.370 - 7.730 8.380 9.080
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/30/20 3/30/21 3/30/22 3/30/23 3/28/24 - - -
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
21
Last Close Price
3.248 CNY
Average target price
3.535 CNY
Spread / Average Target
+8.83%
Consensus
  1. Stock Market
  2. Equities
  3. 1288 Stock
  4. Financials Agricultural Bank of China Limited
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