HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. Financials Hangzhou Hikvision Digital Technology Co., Ltd.
Equities
002415
CNE100000PM8
Communications & Networking
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 33.88 CNY | +0.56% |
|
+1.99% | -2.42% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 305,956 | 453,249 | 488,449 | 327,064 | 323,958 | 316,121 | - | - |
| Enterprise Value (EV) 1 | 286,214 | 427,258 | 461,684 | 298,786 | 291,203 | 269,257 | 274,879 | 256,465 |
| P/E ratio | 24.4 x | 33.6 x | 29 x | 25.3 x | 22.8 x | 19.1 x | 16.2 x | 14.3 x |
| Yield | 2.14% | 1.65% | 1.72% | 2.02% | 2.59% | 2.78% | 3.01% | 3.3% |
| Capitalization / Revenue | 5.31 x | 7.14 x | 6 x | 3.93 x | 3.63 x | 3.17 x | 2.79 x | 2.53 x |
| EV / Revenue | 4.96 x | 6.73 x | 5.67 x | 3.59 x | 3.26 x | 2.7 x | 2.42 x | 2.05 x |
| EV / EBITDA | 19.9 x | 26.6 x | 23.8 x | 18.8 x | 16.6 x | 13.1 x | 11.6 x | 9.21 x |
| EV / FCF | 48.3 x | 30.3 x | 47.7 x | 46.5 x | 23.1 x | 23.1 x | 19.1 x | 15.2 x |
| FCF Yield | 2.07% | 3.3% | 2.1% | 2.15% | 4.33% | 4.33% | 5.22% | 6.56% |
| Price to Book | 6.81 x | 8.42 x | 7.69 x | 4.78 x | 4.24 x | 3.68 x | 3.19 x | 2.95 x |
| Nbr of stocks (in thousands) | 9,345,011 | 9,343,417 | 9,335,806 | 9,430,921 | 9,330,601 | 9,330,601 | - | - |
| Reference price 2 | 32.74 | 48.51 | 52.32 | 34.68 | 34.72 | 33.88 | 33.88 | 33.88 |
| Announcement Date | 2/28/20 | 2/26/21 | 2/22/22 | 2/17/23 | 1/29/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 57,658 | 63,503 | 81,420 | 83,166 | 89,340 | 99,649 | 113,400 | 125,184 |
| EBITDA 1 | 14,406 | 16,042 | 19,366 | 15,872 | 17,525 | 20,565 | 23,627 | 27,860 |
| EBIT 1 | 13,708 | 15,197 | 18,474 | 14,783 | 16,039 | 19,213 | 22,249 | 25,593 |
| Operating Margin | 23.77% | 23.93% | 22.69% | 17.77% | 17.95% | 19.28% | 19.62% | 20.44% |
| Earnings before Tax (EBT) 1 | 13,755 | 15,273 | 18,468 | 14,855 | 16,099 | 19,180 | 22,446 | 25,487 |
| Net income 1 | 12,415 | 13,386 | 16,800 | 12,837 | 14,108 | 16,577 | 19,555 | 22,096 |
| Net margin | 21.53% | 21.08% | 20.63% | 15.44% | 15.79% | 16.63% | 17.24% | 17.65% |
| EPS 2 | 1.340 | 1.444 | 1.806 | 1.370 | 1.520 | 1.773 | 2.094 | 2.366 |
| Free Cash Flow 1 | 5,926 | 14,085 | 9,675 | 6,421 | 12,606 | 11,648 | 14,362 | 16,822 |
| FCF margin | 10.28% | 22.18% | 11.88% | 7.72% | 14.11% | 11.69% | 12.66% | 13.44% |
| FCF Conversion (EBITDA) | 41.13% | 87.8% | 49.96% | 40.46% | 71.93% | 56.64% | 60.78% | 60.38% |
| FCF Conversion (Net income) | 47.73% | 105.22% | 57.59% | 50.02% | 89.36% | 70.27% | 73.44% | 76.13% |
| Dividend per Share 2 | 0.7000 | 0.8000 | 0.9000 | 0.7000 | 0.9000 | 0.9404 | 1.021 | 1.119 |
| Announcement Date | 2/28/20 | 2/26/21 | 2/22/22 | 2/17/23 | 1/29/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 33,735 | 25,791 | 47,518 | 16,522 | 20,736 | 22,464 | 23,445 | 45,909 | 16,201 | 21,370 | 23,704 | 28,065 | 51,769 | 17,818 | 23,886 | 26,486 | 31,430 | 19,315 | 25,477 |
| EBITDA | - | 6,039 | - | - | - | 4,084 | 4,558 | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 5,747 | - | 2,847 | 3,892 | 3,708 | 4,335 | 8,043 | 2,260 | 3,938 | - | 5,568 | - | 2,566 | - | - | - | - | - |
| Operating Margin | - | 22.28% | - | 17.23% | 18.77% | 16.51% | 18.49% | 17.52% | 13.95% | 18.43% | - | 19.84% | - | 14.4% | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | 5,756 | - | - | 3,901 | 3,745 | 4,344 | 8,088 | 2,290 | 3,957 | 4,287 | 5,565 | - | 2,577 | 4,644 | 5,047 | 6,246 | - | - |
| Net income 1 | - | 5,835 | - | 2,284 | 3,475 | 3,081 | 3,997 | 7,078 | 1,811 | 3,527 | 3,513 | 5,256 | - | 1,916 | 4,030 | 4,408 | 5,479 | - | - |
| Net margin | - | 22.62% | - | 13.83% | 16.76% | 13.72% | 17.05% | 15.42% | 11.18% | 16.5% | 14.82% | 18.73% | - | 10.75% | 16.87% | 16.64% | 17.43% | - | - |
| EPS 2 | 0.9000 | 0.6300 | - | 0.2460 | 0.3600 | 0.3310 | 0.4320 | 0.7630 | 0.1960 | 0.3720 | 0.3800 | 0.5720 | - | 0.2080 | 0.4413 | 0.4883 | 0.5815 | 0.3050 | 0.4900 |
| Dividend per Share 2 | - | 0.9000 | - | - | - | - | 0.7000 | - | - | - | - | - | - | - | 0.8800 | - | - | - | - |
| Announcement Date | 2/28/20 | 2/22/22 | 2/22/22 | 4/15/22 | 8/12/22 | 10/28/22 | 2/17/23 | 2/17/23 | 4/14/23 | 8/18/23 | 10/20/23 | 1/29/24 | 1/29/24 | 4/19/24 | - | - | - | - | - |
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 | 19,742 | 25,992 | 26,766 | 28,278 | 32,756 | 46,863 | 41,241 | 59,655 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 5,926 | 14,085 | 9,675 | 6,421 | 12,606 | 11,648 | 14,362 | 16,823 |
| ROE (net income / shareholders' equity) | 30.5% | 27.7% | 29% | 19.6% | 19.6% | 19.7% | 20.1% | 20.4% |
| ROA (Net income/ Total Assets) | 17.9% | 16.3% | 17.4% | 11.5% | - | 11.2% | 11.8% | 12% |
| Assets 1 | 69,425 | 82,029 | 96,689 | 111,639 | - | 148,266 | 165,362 | 184,813 |
| Book Value Per Share 2 | 4.810 | 5.760 | 6.800 | 7.250 | 8.180 | 9.210 | 10.60 | 11.50 |
| Cash Flow per Share 2 | 0.8300 | 1.720 | 1.360 | 1.080 | 1.780 | 1.630 | 2.010 | 2.150 |
| Capex 1 | 1,842 | 1,989 | 3,034 | 3,743 | 4,017 | 4,372 | 4,013 | 4,372 |
| Capex / Sales | 3.19% | 3.13% | 3.73% | 4.5% | 4.5% | 4.39% | 3.54% | 3.49% |
| Announcement Date | 2/28/20 | 2/26/21 | 2/22/22 | 2/17/23 | 1/29/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
20
Last Close Price
33.88
CNY
Average target price
41.17
CNY
Spread / Average Target
+21.51%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.42% | 43.53B | |
| -2.72% | 10.88B | |
| -2.98% | 7.94B | |
| +6.45% | 6.47B | |
| +14.13% | 3.15B | |
| +7.60% | 2.25B | |
| +10.68% | 1.78B | |
| +37.14% | 1.68B | |
| +9.90% | 1.58B | |
| +4.17% | 1.58B |
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