Financials Guangdong Xinbao Electrical Appliances Holdings Co., Ltd

Equities

002705

CNE100001R82

Appliances, Tools & Housewares

End-of-day quote Shenzhen S.E. 06:00:00 2024-05-23 pm EDT 5-day change 1st Jan Change
16.16 CNY -1.22% Intraday chart for Guangdong Xinbao Electrical Appliances Holdings Co., Ltd -5.99% +10.91%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,216 33,862 20,239 13,575 11,920 13,221 - -
Enterprise Value (EV) 1 13,216 33,862 20,239 9,996 9,045 10,650 11,502 12,343
P/E ratio 19.2 x 30.3 x 25.7 x 14.2 x 12.3 x 11.7 x 10.5 x 9.6 x
Yield 2.43% 1.42% 0.81% 2.4% 2.75% 2.9% 3.24% 3.96%
Capitalization / Revenue 1.45 x 2.57 x 1.36 x 0.99 x 0.81 x 0.82 x 0.75 x 0.69 x
EV / Revenue 1.45 x 2.57 x 1.36 x 0.73 x 0.62 x 0.66 x 0.65 x 0.65 x
EV / EBITDA 11.5 x 19.2 x 14.4 x 5.68 x 4.74 x 5.11 x 5.06 x 5.02 x
EV / FCF - - -94.4 x 25.3 x -137 x 14.5 x 7.95 x 7.52 x
FCF Yield - - -1.06% 3.95% -0.73% 6.91% 12.6% 13.3%
Price to Book 3.07 x 5.61 x 3.36 x 1.97 x 1.58 x 1.57 x 1.41 x 1.29 x
Nbr of stocks (in thousands) 801,473 801,473 819,412 815,333 818,146 818,146 - -
Reference price 2 16.49 42.25 24.70 16.65 14.57 16.16 16.16 16.16
Announcement Date 2/25/20 3/5/21 2/25/22 2/27/23 2/29/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,125 13,191 14,912 13,696 14,647 16,203 17,633 19,123
EBITDA 1 1,154 1,759 1,402 1,760 1,909 2,084 2,275 2,460
EBIT 1 784.4 1,375 977.3 1,281 1,312 1,473 1,647 1,812
Operating Margin 8.6% 10.42% 6.55% 9.35% 8.96% 9.09% 9.34% 9.48%
Earnings before Tax (EBT) 1 795.3 1,374 986.4 1,257 1,307 1,478 1,647 1,793
Net income 1 687.3 1,118 792.5 961.4 977.1 1,137 1,265 1,382
Net margin 7.53% 8.48% 5.31% 7.02% 6.67% 7.02% 7.17% 7.23%
EPS 2 0.8575 1.396 0.9613 1.174 1.188 1.380 1.535 1.682
Free Cash Flow 1 - - -214.4 394.7 -66.08 736 1,447 1,642
FCF margin - - -1.44% 2.88% -0.45% 4.54% 8.21% 8.59%
FCF Conversion (EBITDA) - - - 22.42% - 35.32% 63.61% 66.76%
FCF Conversion (Net income) - - - 41.05% - 64.71% 114.4% 118.81%
Dividend per Share 2 0.4000 0.6000 0.2000 0.4000 0.4000 0.4683 0.5233 0.6400
Announcement Date 2/25/20 3/5/21 2/25/22 2/27/23 2/29/24 - - -
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 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 4,209 3,642 - 3,591 2,979 2,829 3,525 4,400 3,892 3,474 3,990 4,672 4,218
EBITDA - - - - - - - - - - - - -
EBIT - - - - 204 196.7 331.5 442 - 251.7 - - -
Operating Margin - - - - 6.85% 6.95% 9.4% 10.05% - 7.25% - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income 197.6 - 486.3 357.5 - - - - 241.2 172.6 - - -
Net margin 4.69% - - 9.95% - - - - 6.2% 4.97% - - -
EPS 2 0.2400 - 0.5965 - 0.1400 0.1681 0.3100 0.4100 0.3000 0.2110 0.3600 0.4600 0.3200
Dividend per Share - - - - - - - - - - - - -
Announcement Date 2/25/22 4/27/22 8/26/22 10/27/22 2/27/23 4/27/23 8/28/23 10/27/23 2/29/24 4/26/24 - - -
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 - - - 3,580 2,875 2,572 1,720 878
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - -214 395 -66.1 736 1,447 1,642
ROE (net income / shareholders' equity) 16.7% 23.7% 12.9% 14.7% 13.3% 13.7% 13.6% 13.7%
ROA (Net income/ Total Assets) 9% 10.8% 6.33% 7.54% 7.15% 7.41% 7.47% 7.47%
Assets 1 7,641 10,323 12,518 12,746 13,671 15,352 16,940 18,509
Book Value Per Share 2 5.360 7.530 7.360 8.440 9.230 10.30 11.40 12.50
Cash Flow per Share 2 1.800 3.130 1.020 1.720 2.320 2.010 2.660 2.140
Capex 1 614 919 1,061 1,028 1,975 723 695 553
Capex / Sales 6.73% 6.97% 7.11% 7.51% 13.48% 4.46% 3.94% 2.89%
Announcement Date 2/25/20 3/5/21 2/25/22 2/27/23 2/29/24 - - -
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
BUY
Number of Analysts
12
Last Close Price
16.16 CNY
Average target price
22.33 CNY
Spread / Average Target
+38.19%
Consensus
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