BETHEL AUTOMOTIVE SAFETY SYSTEMS CO., LTD Financials Bethel Automotive Safety Systems Co., Ltd
Equities
603596
CNE1000030Y7
Auto, Truck & Motorcycle Parts
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 58.26 CNY | +0.95% |
|
+1.27% | -15.93% |
| Apr. 29 | Bethel Automotive Safety Systems Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 23 | Bethel Automotive Safety Systems Establishes Singaporean Subsidiary | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 9,193 | 13,931 | 28,436 | 32,864 | 30,053 | 25,241 | - | - |
| Enterprise Value (EV) 1 | 9,193 | 13,931 | 28,436 | 31,245 | 28,060 | 22,717 | 22,150 | 20,497 |
| P/E ratio | 23 x | 30.3 x | 56.6 x | 47.2 x | 32.2 x | 22.2 x | 16.5 x | 13.6 x |
| Yield | - | - | 0.18% | 0.42% | 0.49% | 0.77% | 0.96% | 1.16% |
| Capitalization / Revenue | 2.91 x | 4.58 x | 8.14 x | 5.93 x | 4.02 x | 2.61 x | 2.07 x | 1.69 x |
| EV / Revenue | 2.91 x | 4.58 x | 8.14 x | 5.64 x | 3.75 x | 2.35 x | 1.81 x | 1.37 x |
| EV / EBITDA | - | 20.9 x | 41.2 x | 34.3 x | 22.6 x | 14.5 x | 10.8 x | 8.15 x |
| EV / FCF | - | - | 188 x | 174 x | -79.3 x | 10.5 x | 26.5 x | 10.3 x |
| FCF Yield | - | - | 0.53% | 0.58% | -1.26% | 9.57% | 3.78% | 9.73% |
| Price to Book | - | 5.19 x | 8.52 x | 8.07 x | 5.29 x | 3.8 x | 3.18 x | 2.62 x |
| Nbr of stocks (in thousands) | 408,561 | 407,096 | 408,561 | 411,827 | 433,668 | 433,252 | - | - |
| Reference price 2 | 22.50 | 34.22 | 69.60 | 79.80 | 69.30 | 58.26 | 58.26 | 58.26 |
| Announcement Date | 4/1/20 | 4/8/21 | 4/8/22 | 3/21/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,157 | 3,042 | 3,492 | 5,539 | 7,474 | 9,681 | 12,206 | 14,911 |
| EBITDA 1 | - | 667.8 | 690.1 | 911.1 | 1,241 | 1,567 | 2,048 | 2,516 |
| EBIT 1 | 529.3 | 564.6 | 574.6 | 748.1 | 1,015 | 1,291 | 1,709 | 2,128 |
| Operating Margin | 16.77% | 18.56% | 16.45% | 13.51% | 13.59% | 13.34% | 14% | 14.27% |
| Earnings before Tax (EBT) 1 | 527.5 | 563.8 | 576.2 | 762.9 | 1,017 | 1,303 | 1,714 | 2,126 |
| Net income 1 | 401.5 | 461.5 | 504.5 | 698.7 | 891.5 | 1,129 | 1,485 | 1,848 |
| Net margin | 12.72% | 15.17% | 14.45% | 12.61% | 11.93% | 11.66% | 12.17% | 12.39% |
| EPS 2 | 0.9800 | 1.130 | 1.230 | 1.690 | 2.150 | 2.620 | 3.525 | 4.283 |
| Free Cash Flow 1 | - | - | 151 | 179.9 | -354 | 2,173 | 836.5 | 1,994 |
| FCF margin | - | - | 4.32% | 3.25% | -4.74% | 22.45% | 6.85% | 13.37% |
| FCF Conversion (EBITDA) | - | - | 21.89% | 19.74% | - | 138.71% | 40.85% | 79.22% |
| FCF Conversion (Net income) | - | - | 29.94% | 25.74% | - | 192.55% | 56.32% | 107.9% |
| Dividend per Share 2 | - | - | 0.1280 | 0.3390 | 0.3400 | 0.4495 | 0.5579 | 0.6777 |
| Announcement Date | 4/1/20 | 4/8/21 | 4/8/22 | 3/21/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,164 | 1,014 | - | 1,595 | 3,094 | 2,011 | 2,368 | 1,860 | 2,079 | 2,621 | 3,087 | 2,488 | 2,646 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | 172.3 | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | - | - | 0.4200 | - | - | - | 0.7100 | 0.4800 | 0.5500 | 0.6400 | 0.8000 | 0.5400 | 0.6400 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 4/8/22 | 4/29/22 | 4/27/23 | 8/28/23 | 8/28/23 | 10/27/23 | 3/27/24 | 4/29/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | - | - | - | 1,619 | 1,993 | 2,524 | 3,091 | 4,744 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | - | 151 | 180 | -354 | 2,173 | 837 | 1,994 |
| ROE (net income / shareholders' equity) | 19.2% | 18.7% | 16.2% | 18.1% | 18.9% | 17.4% | 18.8% | 19.5% |
| ROA (Net income/ Total Assets) | - | 10.3% | 9.24% | 9.38% | 9.19% | 9.4% | 9.65% | 10.3% |
| Assets 1 | - | 4,500 | 5,462 | 7,448 | 9,697 | 12,108 | 15,336 | 17,799 |
| Book Value Per Share 2 | - | 6.590 | 8.170 | 9.890 | 13.10 | 15.50 | 18.30 | 22.20 |
| Cash Flow per Share 2 | - | 1.430 | 1.060 | 1.910 | 1.560 | 3.940 | 3.830 | 5.440 |
| Capex 1 | 263 | 172 | 282 | 605 | 1,032 | 702 | 755 | 810 |
| Capex / Sales | 8.32% | 5.65% | 8.08% | 10.92% | 13.81% | 7.18% | 6.17% | 5.42% |
| Announcement Date | 4/1/20 | 4/8/21 | 4/8/22 | 3/21/23 | 3/27/24 | - | - | - |
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
D+
Sell
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
58.26
CNY
Average target price
83.34
CNY
Spread / Average Target
+43.05%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -15.93% | 3.46B | |
| +1.51% | 2.7B | |
| +37.34% | 2.29B | |
| -21.67% | 2.23B | |
| +79.23% | 1.75B | |
| -8.11% | 1.49B | |
| -14.15% | 1.27B | |
| +41.60% | 1.12B | |
| -19.33% | 1.11B | |
| +5.53% | 948M |
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