Financials Gaona Aero Material Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-07 pm EDT			5-day change	1st Jan Change
17.74 ^CNY	-4.00%		-0.39%	-12.83%

Apr. 22	Gaona Aero Material Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 17	Firm Inflation Challenges the Idea of Rate Cuts This Year	DJ

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,495	16,892	27,991	22,276	15,774	13,751	-	-
Enterprise Value (EV) ¹	7,495	16,892	27,991	22,276	15,774	13,751	13,751	13,751
P/E ratio	46.3 x	82.2 x	90.4 x	65.8 x	49 x	30.6 x	22.9 x	18.5 x
Yield	-	0.38%	0.26%	0.45%	0.61%	0.7%	0.99%	1.24%
Capitalization / Revenue	5.18 x	10.7 x	14 x	7.74 x	4.63 x	3.21 x	2.57 x	2.12 x
EV / Revenue	5.18 x	10.7 x	14 x	7.74 x	4.63 x	3.21 x	2.57 x	2.12 x
EV / EBITDA	26.5 x	-	63.9 x	37.4 x	27 x	18.3 x	13.5 x	10.9 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.64 x	7.51 x	9.83 x	7.13 x	4.7 x	3.7 x	3.28 x	2.87 x
Nbr of stocks (in thousands)	750,945	751,778	777,531	777,531	775,138	775,138	-	-
Reference price ²	9.981	22.47	36.00	28.65	20.35	17.74	17.74	17.74
Announcement Date	2/28/20	4/22/21	4/26/22	4/26/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,446	1,585	2,003	2,879	3,408	4,285	5,346	6,472
EBITDA ¹	282.9	-	437.9	596.1	583.8	752.6	1,015	1,266
EBIT ¹	221.7	291.7	358.6	424.9	448.7	616.3	840.1	1,045
Operating Margin	15.33%	18.4%	17.9%	14.76%	13.17%	14.38%	15.71%	16.15%
Earnings before Tax (EBT) ¹	223.6	280.1	358.4	424.9	445.9	611.6	835.1	1,040
Net income ¹	155.7	203.7	304.6	336.5	319.1	447.1	599.9	744.4
Net margin	10.77%	12.85%	15.21%	11.69%	9.36%	10.43%	11.22%	11.5%
EPS ²	0.2158	0.2733	0.3984	0.4351	0.4150	0.5800	0.7750	0.9600
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.0844	0.0938	0.1300	0.1240	0.1250	0.1750	0.2200
Announcement Date	2/28/20	4/22/21	4/26/22	4/26/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	8.22%	9.48%	11.6%	11.2%	9.8%	12.2%	14.7%	15.9%
ROA (Net income/ Total Assets)	-	-	6%	5.35%	-	5.64%	6.52%	6.95%
Assets ¹	-	-	5,075	6,292	-	7,922	9,206	10,711
Book Value Per Share ²	2.740	2.990	3.660	4.020	4.330	4.790	5.420	6.180
Cash Flow per Share ²	0.1400	0.4000	0.0600	0.7200	0.6800	0.7000	0.5900	0.8800
Capex ¹	40.6	222	286	209	306	335	352	280
Capex / Sales	2.81%	14.03%	14.26%	7.28%	8.98%	7.81%	6.58%	4.33%
Announcement Date	2/28/20	4/22/21	4/26/22	4/26/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

17.74 CNY

Average target price

23.58 CNY

Spread / Average Target

+32.92%

	1st Jan change	Capi.
GAONA AERO MATERIAL CO., LTD.	-12.83%	1.9B
TRANSDIGM GROUP INC.	+29.99%	73.59B
HOWMET AEROSPACE INC.	+50.44%	33.23B
HEICO CORPORATION	+17.11%	25.47B
MTU AERO ENGINES AG	+20.31%	13.43B
AECC AVIATION POWER CO.,LTD	-4.41%	13.18B
CURTISS-WRIGHT CORPORATION	+23.09%	10.5B
AVIC AIRBORNE SYSTEMS CO., LTD.	-5.77%	8.32B
MEGGITT PLC	-.--%	7.35B
SPIRIT AEROSYSTEMS HOLDINGS, INC.	-2.77%	3.6B