CHOW TAI SENG JEWELLERY CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 16.1 CNY | -1.29% |
|
+0.81% | +6.06% |
| May. 07 | Chow Tai Seng Jewellery Chairman, Deputy Complete Shareholding Increase | MT |
| Apr. 26 | Chow Tai Seng Jewellery Co., Ltd. Proposes Final Dividend for the Year 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 13,916 | 19,476 | 19,491 | 15,229 | 16,477 | 17,476 | - | - |
| Enterprise Value (EV) 1 | 13,916 | 19,476 | 18,259 | 13,563 | 15,909 | 16,612 | 16,727 | 16,857 |
| P/E ratio | 13.9 x | 19 x | 15.9 x | 13.9 x | 12.5 x | 11.9 x | 10.3 x | 9.25 x |
| Yield | 2.36% | 2.25% | 2.81% | 4.28% | 4.28% | 4.88% | 5.53% | 6.49% |
| Capitalization / Revenue | 2.56 x | 3.83 x | 2.13 x | 1.37 x | 1.01 x | 0.89 x | 0.78 x | 0.67 x |
| EV / Revenue | 2.56 x | 3.83 x | 1.99 x | 1.22 x | 0.98 x | 0.85 x | 0.75 x | 0.64 x |
| EV / EBITDA | 10.7 x | 14.4 x | 11.3 x | 9.38 x | 9.16 x | 8.09 x | 7.04 x | 6.2 x |
| EV / FCF | - | - | 420 x | 15.2 x | -209 x | 4.98 x | 14.1 x | 12.8 x |
| FCF Yield | - | - | 0.24% | 6.6% | -0.48% | 20.1% | 7.1% | 7.81% |
| Price to Book | 2.95 x | 3.61 x | 3.37 x | 2.54 x | 2.61 x | 2.5 x | 2.21 x | 2.02 x |
| Nbr of stocks (in thousands) | 1,096,358 | 1,096,223 | 1,096,223 | 1,085,474 | 1,085,474 | 1,085,474 | - | - |
| Reference price 2 | 12.69 | 17.77 | 17.78 | 14.03 | 15.18 | 16.10 | 16.10 | 16.10 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/11/22 | 4/28/23 | 4/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,439 | 5,084 | 9,155 | 11,118 | 16,290 | 19,548 | 22,366 | 26,144 |
| EBITDA 1 | 1,302 | 1,348 | 1,613 | 1,447 | 1,737 | 2,053 | 2,376 | 2,721 |
| EBIT 1 | 1,257 | 1,307 | 1,579 | 1,409 | 1,695 | 1,921 | 2,228 | 2,500 |
| Operating Margin | 23.12% | 25.7% | 17.24% | 12.67% | 10.41% | 9.83% | 9.96% | 9.56% |
| Earnings before Tax (EBT) 1 | 1,292 | 1,322 | 1,591 | 1,420 | 1,708 | 1,929 | 2,226 | 2,488 |
| Net income 1 | 991.4 | 1,012 | 1,225 | 1,091 | 1,316 | 1,477 | 1,704 | 1,905 |
| Net margin | 18.23% | 19.9% | 13.38% | 9.81% | 8.08% | 7.56% | 7.62% | 7.29% |
| EPS 2 | 0.9133 | 0.9333 | 1.120 | 1.010 | 1.210 | 1.349 | 1.556 | 1.740 |
| Free Cash Flow 1 | - | - | 43.5 | 895.2 | -76.04 | 3,339 | 1,187 | 1,317 |
| FCF margin | - | - | 0.48% | 8.05% | -0.47% | 17.08% | 5.31% | 5.04% |
| FCF Conversion (EBITDA) | - | - | 2.7% | 61.88% | - | 162.68% | 49.95% | 48.41% |
| FCF Conversion (Net income) | - | - | 3.55% | 82.08% | - | 226.06% | 69.66% | 69.12% |
| Dividend per Share 2 | 0.3000 | 0.4000 | 0.5000 | 0.6000 | 0.6500 | 0.7860 | 0.8900 | 1.045 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/11/22 | 4/28/23 | 4/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | - | - | 8,074 | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | 739.9 | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | 9.16% | - | - | - | - | - | - |
| EPS 1 | 0.2700 | 0.3200 | 0.1500 | 0.3400 | 0.3400 | - | 0.3300 | 0.2000 | 0.3100 | 0.3800 | 0.3600 | 0.2800 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/29/22 | 10/27/22 | 4/28/23 | 4/28/23 | 8/25/23 | 8/25/23 | 10/30/23 | 4/25/24 | 4/25/24 | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 1,231 | 1,667 | 568 | 864 | 749 | 619 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | - | 43.5 | 895 | -76 | 3,339 | 1,187 | 1,317 |
| ROE (net income / shareholders' equity) | 22.9% | 20.1% | 21.3% | 18.3% | 21.1% | 21% | 21.7% | 22.1% |
| ROA (Net income/ Total Assets) | 16.7% | 16.1% | 18% | 14.9% | - | 14.8% | 15% | 13.9% |
| Assets 1 | 5,933 | 6,290 | 6,804 | 7,312 | - | 10,006 | 11,337 | 13,689 |
| Book Value Per Share 2 | 4.300 | 4.920 | 5.280 | 5.510 | 5.820 | 6.450 | 7.280 | 7.960 |
| Cash Flow per Share 2 | 0.7300 | 1.240 | 0.1800 | 0.9300 | 0.1300 | 0.8400 | 1.190 | 0.0900 |
| Capex 1 | 181 | 131 | 153 | 123 | 215 | 178 | 140 | 132 |
| Capex / Sales | 3.33% | 2.59% | 1.67% | 1.1% | 1.32% | 0.91% | 0.63% | 0.51% |
| Announcement Date | 2/28/20 | 2/26/21 | 3/11/22 | 4/28/23 | 4/25/24 | - | - | - |
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
9
Last Close Price
16.1
CNY
Average target price
20.04
CNY
Spread / Average Target
+24.50%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.06% | 2.42B | |
| -11.64% | 34.85B | |
| -11.53% | 13.41B | |
| +18.95% | 13.03B | |
| +9.65% | 4.13B | |
| +14.59% | 2.63B | |
| +2.69% | 1.65B | |
| -14.48% | 1.4B | |
| -30.01% | 1.11B | |
| -18.18% | 1.06B |
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