Financials China Yongda Automobiles Services Holdings Limited

Equities

3669

KYG2162W1024

Auto Vehicles, Parts & Service Retailers

Market Closed - Hong Kong S.E. 04:08:35 2024-05-13 am EDT 5-day change 1st Jan Change
2.24 HKD +0.90% Intraday chart for China Yongda Automobiles Services Holdings Limited +2.28% -23.55%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,675 21,308 16,746 10,018 5,143 3,986 - -
Enterprise Value (EV) 1 21,843 27,883 21,467 11,270 5,143 6,400 5,796 5,456
P/E ratio 7.93 x 12.7 x 6.97 x 7.11 x 9.18 x 6.33 x 3.94 x 4.81 x
Yield - 2.67% 5.63% 5.7% - 7.71% 11.8% 12.2%
Capitalization / Revenue 0.19 x 0.31 x 0.21 x 0.14 x 0.07 x 0.06 x 0.05 x 0.05 x
EV / Revenue 0.35 x 0.41 x 0.28 x 0.16 x 0.07 x 0.09 x 0.08 x 0.07 x
EV / EBITDA 6.16 x 7.47 x 4.59 x 3.51 x 2.3 x 2.95 x 2.13 x 1.89 x
EV / FCF 9.1 x 5.89 x 6.09 x 3.95 x - 9.33 x 3.66 x 5.96 x
FCF Yield 11% 17% 16.4% 25.3% - 10.7% 27.3% 16.8%
Price to Book 1.18 x 1.74 x 1.23 x 0.71 x - 0.28 x 0.27 x 0.26 x
Nbr of stocks (in thousands) 1,840,016 1,974,838 1,968,570 1,955,705 1,931,123 1,922,199 - -
Reference price 2 6.345 10.79 8.507 5.122 2.663 2.074 2.074 2.074
Announcement Date 3/25/20 3/16/21 3/15/22 3/24/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 62,707 68,534 77,917 72,024 72,595 72,398 74,985 74,314
EBITDA 1 3,548 3,734 4,675 3,209 2,240 2,168 2,717 2,882
EBIT 1 2,819 2,925 3,809 2,304 961.5 1,023 1,550 1,424
Operating Margin 4.5% 4.27% 4.89% 3.2% 1.32% 1.41% 2.07% 1.92%
Earnings before Tax (EBT) 1 2,076 2,295 3,375 2,073 740.3 827.3 1,358 1,282
Net income 1 1,473 1,625 2,480 1,425 572.6 663.2 1,033 1,068
Net margin 2.35% 2.37% 3.18% 1.98% 0.79% 0.92% 1.38% 1.44%
EPS 2 0.8000 0.8500 1.220 0.7200 0.2900 0.3277 0.5264 0.4314
Free Cash Flow 1 2,400 4,737 3,525 2,851 - 685.7 1,582 915.7
FCF margin 3.83% 6.91% 4.52% 3.96% - 0.95% 2.11% 1.23%
FCF Conversion (EBITDA) 67.64% 126.85% 75.39% 88.86% - 31.63% 58.23% 31.77%
FCF Conversion (Net income) 162.95% 291.53% 142.13% 200.03% - 103.39% 153.16% 85.73%
Dividend per Share 2 - 0.2880 0.4790 0.2920 - 0.1599 0.2455 0.2532
Announcement Date 3/25/20 3/16/21 3/15/22 3/24/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 S2 2022 Q1 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 33,602 27,950 40,584 40,506 18,942 37,411 - 31,392 21,292 18,746 40,632 34,862 37,734 28,093 30,434
EBITDA - - - - - - - - - - - - - - -
EBIT 1,413 1,103 1,822 1,834 - 1,975 - 1,069 - - 1,235 - 293.7 403 548.9
Operating Margin 4.21% 3.95% 4.49% 4.53% - 5.28% - 3.41% - - 3.04% - 0.78% 1.43% 1.8%
Earnings before Tax (EBT) 1,019 756.2 1,539 1,594 - - - - - - 1,128 - - - -
Net income 738.9 530 1,095 1,172 631 - 336.6 - 487 - 752.2 - 166 - -
Net margin 2.2% 1.9% 2.7% 2.89% 3.33% - - - 2.29% - 1.85% - 0.44% - -
EPS 0.4000 0.2900 0.5600 0.5900 - 0.6300 - 0.3400 - - 0.3800 - 0.0800 0.1300 0.2700
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 3/25/20 8/25/20 3/16/21 8/24/21 10/25/21 3/15/22 9/23/22 8/29/22 10/25/22 3/24/23 3/24/23 9/21/23 3/26/24 - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 10,168 6,575 4,721 1,252 - 2,414 1,810 1,470
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.865 x 1.761 x 1.01 x 0.3903 x - 1.113 x 0.6662 x 0.5101 x
Free Cash Flow 1 2,400 4,737 3,525 2,851 - 686 1,582 916
ROE (net income / shareholders' equity) 15.6% 15% 19.4% 10.2% - 4.25% 5.97% 6.35%
ROA (Net income/ Total Assets) 4.43% 4.63% 7.48% 4.46% - 1.89% 2.5% 2.57%
Assets 1 33,245 35,106 33,152 31,984 - 35,099 41,368 41,604
Book Value Per Share 2 5.370 6.200 6.940 7.240 - 7.410 7.740 7.910
Cash Flow per Share 2 2.150 2.980 2.540 2.150 - 1.050 1.090 1.490
Capex 1 1,709 944 1,490 1,381 - 1,220 1,232 1,373
Capex / Sales 2.72% 1.38% 1.91% 1.92% - 1.69% 1.64% 1.85%
Announcement Date 3/25/20 3/16/21 3/15/22 3/24/23 3/26/24 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
2.074 CNY
Average target price
2.831 CNY
Spread / Average Target
+36.51%
Consensus
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