BEIJING AEROSPACE CHANGFENG CO.,LTD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8.77 CNY | +2.21% |
|
+0.23% | -18.19% |
| Apr. 01 | Beijing Aerospace Changfeng Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 07 | Beijing Aerospace Changfeng Gets 1.1 Milion Yuan in Subsidy | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 3,179 | 5,403 | 6,696 | 7,834 | 5,540 | 5,083 |
| Enterprise Value (EV) 1 | 2,632 | 4,545 | 5,568 | 6,951 | 4,964 | 4,346 |
| P/E ratio | 41 x | 114 x | 45.7 x | 65.3 x | 984 x | -21.3 x |
| Yield | 0.82% | 0.24% | 0.64% | 0.45% | - | 0.07% |
| Capitalization / Revenue | 1.51 x | 2.08 x | 2.42 x | 2.81 x | 3.07 x | 3.68 x |
| EV / Revenue | 1.25 x | 1.75 x | 2.02 x | 2.5 x | 2.75 x | 3.15 x |
| EV / EBITDA | 20.9 x | 35.3 x | 33.3 x | 39.4 x | 325 x | -20.6 x |
| EV / FCF | -12.4 x | 39.3 x | 14.4 x | -43.2 x | -22.6 x | -52.6 x |
| FCF Yield | -8.05% | 2.54% | 6.95% | -2.32% | -4.42% | -1.9% |
| Price to Book | 2.69 x | 3.19 x | 3.97 x | 4.4 x | 3.15 x | 2.74 x |
| Nbr of stocks (in thousands) | 352,031 | 439,591 | 438,537 | 450,753 | 450,427 | 474,192 |
| Reference price 2 | 9.030 | 12.29 | 15.27 | 17.38 | 12.30 | 10.72 |
| Announcement Date | 4/23/19 | 4/27/20 | 4/19/21 | 3/31/22 | 3/20/23 | 4/1/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 2,110 | 2,592 | 2,763 | 2,785 | 1,802 | 1,382 |
| EBITDA 1 | 125.7 | 128.7 | 167.2 | 176.2 | 15.27 | -210.6 |
| EBIT 1 | 111.8 | 98.98 | 131.8 | 139.8 | -11.72 | -245.7 |
| Operating Margin | 5.3% | 3.82% | 4.77% | 5.02% | -0.65% | -17.78% |
| Earnings before Tax (EBT) 1 | 132.4 | 131.4 | 141.9 | 135.3 | 51.51 | -271.1 |
| Net income 1 | 75.88 | 42.69 | 146.7 | 117.4 | 5.478 | -235.2 |
| Net margin | 3.6% | 1.65% | 5.31% | 4.21% | 0.3% | -17.02% |
| EPS 2 | 0.2200 | 0.1076 | 0.3338 | 0.2662 | 0.0125 | -0.5030 |
| Free Cash Flow 1 | -211.8 | 115.5 | 386.8 | -161 | -219.3 | -82.69 |
| FCF margin | -10.04% | 4.46% | 14% | -5.78% | -12.17% | -5.98% |
| FCF Conversion (EBITDA) | - | 89.73% | 231.3% | - | - | - |
| FCF Conversion (Net income) | - | 270.52% | 263.75% | - | - | - |
| Dividend per Share 2 | 0.0738 | 0.0300 | 0.0980 | 0.0790 | - | 0.007060 |
| Announcement Date | 4/23/19 | 4/27/20 | 4/19/21 | 3/31/22 | 3/20/23 | 4/1/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 547 | 858 | 1,128 | 883 | 576 | 737 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | -212 | 115 | 387 | -161 | -219 | -82.7 |
| ROE (net income / shareholders' equity) | 9.67% | 5.56% | 6.13% | 5.67% | 1.71% | -12.5% |
| ROA (Net income/ Total Assets) | 3.17% | 1.88% | 2.05% | 1.95% | -0.17% | -3.84% |
| Assets 1 | 2,390 | 2,268 | 7,154 | 6,034 | -3,145 | 6,130 |
| Book Value Per Share 2 | 3.360 | 3.850 | 3.850 | 3.950 | 3.910 | 3.910 |
| Cash Flow per Share 2 | 1.870 | 2.210 | 2.640 | 2.290 | 1.700 | 2.060 |
| Capex 1 | 53.7 | 39.4 | 35.3 | 41.6 | 80.6 | 89.7 |
| Capex / Sales | 2.54% | 1.52% | 1.28% | 1.49% | 4.47% | 6.49% |
| Announcement Date | 4/23/19 | 4/27/20 | 4/19/21 | 3/31/22 | 3/20/23 | 4/1/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -19.96% | 562M | |
| +39.40% | 8.77B | |
| +27.11% | 8.34B | |
| +55.43% | 1.94B | |
| +20.91% | 980M | |
| -7.11% | 707M | |
| -18.62% | 608M | |
| -25.90% | 583M | |
| -17.53% | 417M | |
| +136.49% | 387M |
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