BAIC MOTOR CORPORATION LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.24 HKD | +1.82% |
|
+4.67% | -1.75% |
| Apr. 26 | BAIC Motor Corporation Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 22 | Chinese Automobile Exports Jump 33% in Q1 | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 29,068 | 31,661 | 19,361 | 21,879 | 14,654 | 16,620 | 16,620 | - |
| Enterprise Value (EV) 1 | 17,541 | 5,950 | -8,327 | 3,294 | -2,260 | 16,610 | -6,027 | -14,214 |
| P/E ratio | 6.59 x | 7.9 x | 10.1 x | 5.69 x | 3.52 x | 5.45 x | 4.53 x | 4.95 x |
| Yield | 5.24% | 4.3% | 3.31% | 5.86% | 9.3% | 8.24% | 7.03% | 7.06% |
| Capitalization / Revenue | 0.19 x | 0.18 x | 0.11 x | 0.12 x | 0.08 x | 0.08 x | 0.09 x | 0.09 x |
| EV / Revenue | 0.12 x | 0.03 x | -0.05 x | 0.02 x | -0.01 x | 0.08 x | -0.03 x | -0.08 x |
| EV / EBITDA | 0.63 x | 0.2 x | -0.27 x | 0.1 x | -0.06 x | 0.53 x | -0.19 x | -0.47 x |
| EV / FCF | 1.15 x | 0.22 x | -0.47 x | 0.74 x | -0.18 x | -0.41 x | -0.53 x | -1.01 x |
| FCF Yield | 87.2% | 462% | -212% | 135% | -550% | -241% | -189% | -99% |
| Price to Book | 0.59 x | 0.63 x | 0.38 x | 0.42 x | 0.27 x | 0.29 x | 0.28 x | 0.27 x |
| Nbr of stocks (in thousands) | 8,015,338 | 8,015,338 | 8,015,338 | 8,015,338 | 8,015,338 | 8,015,338 | 8,015,338 | - |
| Reference price 2 | 3.626 | 3.950 | 2.416 | 2.730 | 1.828 | 2.074 | 2.074 | 2.074 |
| Announcement Date | 3/27/19 | 3/26/20 | 3/24/21 | 3/24/22 | 3/24/23 | 3/22/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 151,920 | 174,633 | 176,973 | 175,916 | 190,463 | 197,949 | 189,496 | 183,149 |
| EBITDA 1 | 27,773 | 29,125 | 31,409 | 33,431 | 34,965 | 31,399 | 31,730 | 30,136 |
| EBIT 1 | 20,628 | 21,684 | 22,345 | 23,960 | 26,009 | 22,569 | 21,205 | 19,410 |
| Operating Margin | 13.58% | 12.42% | 12.63% | 13.62% | 13.66% | 11.4% | 11.19% | 10.6% |
| Earnings before Tax (EBT) 1 | 21,175 | 21,314 | 20,430 | 22,920 | 24,729 | 21,000 | 20,708 | 20,304 |
| Net income 1 | 4,429 | 4,083 | 2,029 | 3,858 | 4,197 | 3,030 | 3,600 | 3,242 |
| Net margin | 2.92% | 2.34% | 1.15% | 2.19% | 2.2% | 1.53% | 1.9% | 1.77% |
| EPS 2 | 0.5500 | 0.5000 | 0.2400 | 0.4800 | 0.5200 | 0.3800 | 0.4576 | 0.4188 |
| Free Cash Flow 1 | 15,292 | 27,513 | 17,650 | 4,457 | 12,429 | 14,902 | 11,412 | 14,065 |
| FCF margin | 10.07% | 15.75% | 9.97% | 2.53% | 6.53% | 7.56% | 6.02% | 7.68% |
| FCF Conversion (EBITDA) | 55.06% | 94.46% | 56.19% | 13.33% | 35.55% | 43.14% | 35.96% | 46.67% |
| FCF Conversion (Net income) | 345.24% | 673.89% | 869.94% | 115.53% | 296.16% | 342.53% | 316.94% | 433.77% |
| Dividend per Share 2 | 0.1900 | 0.1700 | 0.0800 | 0.1600 | 0.1700 | 0.1709 | 0.1457 | 0.1464 |
| Announcement Date | 3/27/19 | 3/26/20 | 3/24/21 | 3/24/22 | 3/24/23 | 3/22/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 S1 |
|---|---|---|---|---|---|---|---|---|
| Net sales | 87,764 | 86,869 | 77,854 | 99,119 | 90,375 | - | 85,540 | 83,679 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | 12,112 | 13,978 | - | 9,983 | 11,464 |
| Operating Margin | - | - | - | 12.22% | 15.47% | - | 11.67% | 13.7% |
| Earnings before Tax (EBT) | - | - | - | 11,342 | - | - | - | - |
| Net income 1 | 2,090 | - | 1,047 | 981.9 | - | 1,189 | 1,100 | 2,158 |
| Net margin | 2.38% | - | 1.34% | 0.99% | - | - | 1.29% | 2.58% |
| EPS | - | - | - | 0.1200 | - | - | - | 0.2700 |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 8/26/19 | 3/26/20 | 8/31/20 | 3/24/21 | 8/30/21 | 3/24/22 | 3/24/22 | 8/29/22 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 11,527 | 25,711 | 27,689 | 18,585 | 16,914 | 22,796 | 22,647 | 30,834 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 15,292 | 27,513 | 17,650 | 4,457 | 12,429 | 14,903 | 11,412 | 14,065 |
| ROE (net income / shareholders' equity) | 9.93% | 8.26% | 4.01% | 7.44% | 7.84% | 7.74% | 6.17% | 5.62% |
| ROA (Net income/ Total Assets) | 2.61% | 2.24% | 1.04% | 2.06% | 2.37% | 2.4% | 2.1% | 2.16% |
| Assets 1 | 169,711 | 182,622 | 195,048 | 187,290 | 177,109 | 180,976 | 171,487 | 149,780 |
| Book Value Per Share 2 | 6.150 | 6.290 | 6.370 | 6.560 | 6.800 | 7.250 | 7.410 | 7.700 |
| Cash Flow per Share 2 | 2.760 | 4.490 | 3.240 | 1.610 | 2.330 | 3.280 | 2.670 | 3.060 |
| Capex 1 | 6,441 | 8,440 | 8,358 | 8,445 | 6,225 | 9,128 | 9,024 | 8,497 |
| Capex / Sales | 4.24% | 4.83% | 4.72% | 4.8% | 3.27% | 4.63% | 4.76% | 4.64% |
| Announcement Date | 3/27/19 | 3/26/20 | 3/24/21 | 3/24/22 | 3/24/23 | 3/22/24 | - | - |
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
B-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
2.074
CNY
Average target price
2.054
CNY
Spread / Average Target
-0.95%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -1.75% | 2.29B | |
| +8.96% | 94.79B | |
| +12.39% | 87.34B | |
| -0.75% | 84.51B | |
| +24.83% | 76.07B | |
| +23.31% | 47.89B | |
| +18.20% | 34.02B | |
| +12.34% | 23.85B | |
| -1.54% | 19.82B | |
| +49.97% | 11.99B |
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