CHINA THREE GORGES RENEWABLES (GROUP) CO.,LTD. Financials China Three Gorges Renewables (Group) Co.,Ltd.
Equities
600905
CNE1000051F2
Electric Utilities
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.67 CNY | -1.48% |
|
-0.64% | +6.86% |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 214,568 | 161,700 | 125,082 | 133,661 | - | - |
| Enterprise Value (EV) 1 | 214,568 | 275,859 | 125,082 | 292,960 | 292,261 | 286,038 |
| P/E ratio | 33 x | 22.6 x | 17.4 x | 15.1 x | 12.7 x | 11.5 x |
| Yield | 0.28% | 1.35% | 1.78% | 1.7% | 1.72% | 2.86% |
| Capitalization / Revenue | 13.9 x | 6.79 x | 4.72 x | 4.03 x | 3.51 x | 3.1 x |
| EV / Revenue | 13.9 x | 11.6 x | 4.72 x | 8.83 x | 7.67 x | 6.63 x |
| EV / EBITDA | 14.6 x | 16.1 x | 6.72 x | 10.2 x | 8.64 x | 7.8 x |
| EV / FCF | -10.2 x | -25.4 x | -4.78 x | 96.4 x | -4.16 x | -10.8 x |
| FCF Yield | -9.83% | -3.93% | -20.9% | 1.04% | -24% | -9.25% |
| Price to Book | 3.12 x | 2.1 x | 1.52 x | 1.5 x | 1.37 x | 1.26 x |
| Nbr of stocks (in thousands) | 28,571,000 | 28,619,530 | 28,622,959 | 28,621,259 | - | - |
| Reference price 2 | 7.510 | 5.650 | 4.370 | 4.670 | 4.670 | 4.670 |
| Announcement Date | 3/10/22 | 2/7/23 | 1/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 15,484 | 23,812 | 26,485 | 33,192 | 38,122 | 43,171 |
| EBITDA 1 | - | 14,689 | 17,094 | 18,620 | 28,719 | 33,822 | 36,650 |
| EBIT 1 | - | 6,784 | 9,217 | 8,991 | 11,995 | 14,596 | 15,293 |
| Operating Margin | - | 43.81% | 38.71% | 33.95% | 36.14% | 38.29% | 35.43% |
| Earnings before Tax (EBT) 1 | - | 6,640 | 9,069 | 9,018 | 11,068 | 13,244 | 14,762 |
| Net income 1 | 3,611 | 5,642 | 7,155 | 7,181 | 8,759 | 10,525 | 11,560 |
| Net margin | - | 36.44% | 30.05% | 27.11% | 26.39% | 27.61% | 26.78% |
| EPS 2 | - | 0.2279 | 0.2501 | 0.2509 | 0.3097 | 0.3668 | 0.4044 |
| Free Cash Flow 1 | - | -21,086 | -10,844 | -26,190 | 3,039 | -70,190 | -26,449 |
| FCF margin | - | -136.18% | -45.54% | -98.89% | 9.16% | -184.12% | -61.27% |
| FCF Conversion (EBITDA) | - | - | - | - | 10.58% | - | - |
| FCF Conversion (Net income) | - | - | - | - | 34.7% | - | - |
| Dividend per Share 2 | - | 0.0212 | 0.0760 | 0.0780 | 0.0792 | 0.0802 | 0.1333 |
| Announcement Date | 6/8/21 | 3/10/22 | 2/7/23 | 1/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | 5,277 | 6,406 | 6,853 | 6,851 | - |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | 1,694 | 3,000 | 2,555 | - |
| Operating Margin | - | - | - | - | 26.45% | 43.77% | 37.3% | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - |
| Net income 1 | 1,644 | 2,571 | 5,037 | - | - | 2,434 | - | 919.6 |
| Net margin | - | - | - | - | - | 35.51% | - | - |
| EPS | - | - | 0.1767 | - | 0.0324 | 0.0850 | 0.0700 | - |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 3/10/22 | 4/27/22 | 8/30/22 | 10/28/22 | 2/7/23 | 4/28/23 | 8/30/23 | 10/29/23 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 114,159 | - | 159,299 | 158,600 | 152,377 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | 6.678 x | - | 5.547 x | 4.689 x | 4.158 x |
| Free Cash Flow 1 | - | -21,086 | -10,844 | -26,190 | 3,039 | -70,190 | -26,449 |
| ROE (net income / shareholders' equity) | - | 10.1% | 9.72% | 8.99% | 9.7% | 10.5% | 10.7% |
| ROA (Net income/ Total Assets) | - | - | 2.73% | 1.89% | 2.68% | 2.89% | 3.06% |
| Assets 1 | - | - | 262,127 | 379,089 | 327,309 | 364,184 | 378,039 |
| Book Value Per Share 2 | - | 2.410 | 2.690 | 2.880 | 3.120 | 3.400 | 3.720 |
| Cash Flow per Share 2 | - | 0.3100 | 0.5900 | 0.5000 | 1.410 | 0.8900 | 1.630 |
| Capex 1 | - | 29,903 | 27,715 | 40,607 | 39,121 | 36,653 | 37,742 |
| Capex / Sales | - | 193.12% | 116.39% | 153.32% | 117.86% | 96.15% | 87.42% |
| Announcement Date | 6/8/21 | 3/10/22 | 2/7/23 | 1/19/24 | - | - | - |
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
BUY
Number of Analysts
12
Last Close Price
4.67
CNY
Average target price
5.611
CNY
Spread / Average Target
+20.14%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.86% | 18.76B | |
| +9.63% | 15.58B | |
| +3.01% | 2.62B | |
| +15.09% | 2.3B | |
| -5.82% | 2.21B | |
| +22.30% | 1.65B | |
| +9.61% | 1.29B | |
| -1.03% | 1.26B | |
| 0.00% | 1.14B | |
| -12.01% | 1.11B |
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