Financials Nanjing Central Emporium (Group) Stocks Co., Ltd.

Equities

600280

CNE0000014V9

Department Stores

End-of-day quote Shanghai S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
2.75 CNY -1.43% Intraday chart for Nanjing Central Emporium (Group) Stocks Co., Ltd. +2.23% -27.25%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,704 3,150 2,685 3,283 3,690 4,265
Enterprise Value (EV) 1 9,938 8,822 8,378 9,710 10,197 10,418
P/E ratio -10.9 x -5.45 x 34 x 72.8 x -65.4 x -27 x
Yield - - - - - -
Capitalization / Revenue 0.45 x 0.39 x 0.84 x 1.14 x 1.48 x 1.74 x
EV / Revenue 1.2 x 1.09 x 2.63 x 3.37 x 4.08 x 4.25 x
EV / EBITDA 24.5 x 95.1 x 15.4 x 20.5 x 20.7 x 17.9 x
EV / FCF 7.59 x 4.86 x 23.5 x -9.69 x -128 x 14.7 x
FCF Yield 13.2% 20.6% 4.26% -10.3% -0.78% 6.81%
Price to Book 2.55 x 3.72 x 2.89 x 3.37 x 4 x 3.9 x
Nbr of stocks (in thousands) 1,139,618 1,132,920 1,128,335 1,128,335 1,128,335 1,128,335
Reference price 2 3.250 2.780 2.380 2.910 3.270 3.780
Announcement Date 4/27/19 4/29/20 4/28/21 4/27/22 4/27/23 4/25/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 8,250 8,103 3,183 2,881 2,497 2,450
EBITDA 1 406 92.78 544.3 474.2 491.5 583.1
EBIT 1 256.7 -62.49 367.2 295 306.4 402.6
Operating Margin 3.11% -0.77% 11.53% 10.24% 12.27% 16.43%
Earnings before Tax (EBT) 1 -251.5 -544.1 184.3 252.6 11.95 -94
Net income 1 -340.4 -588.3 81.38 45.36 -53.45 -152.8
Net margin -4.13% -7.26% 2.56% 1.57% -2.14% -6.23%
EPS 2 -0.2990 -0.5100 0.0700 0.0400 -0.0500 -0.1400
Free Cash Flow 1 1,310 1,815 357 -1,002 -79.38 709
FCF margin 15.88% 22.4% 11.22% -34.79% -3.18% 28.94%
FCF Conversion (EBITDA) 322.67% 1,956.52% 65.59% - - 121.6%
FCF Conversion (Net income) - - 438.69% - - -
Dividend per Share - - - - - -
Announcement Date 4/27/19 4/29/20 4/28/21 4/27/22 4/27/23 4/25/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 6,234 5,673 5,692 6,426 6,508 6,153
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 15.36 x 61.14 x 10.46 x 13.55 x 13.24 x 10.55 x
Free Cash Flow 1 1,310 1,815 357 -1,002 -79.4 709
ROE (net income / shareholders' equity) -20.6% -50.4% 9.23% 4.69% -6.21% -17.1%
ROA (Net income/ Total Assets) 0.96% -0.25% 1.62% 1.4% 1.5% 2.12%
Assets 1 -35,589 234,675 5,036 3,248 -3,557 -7,215
Book Value Per Share 2 1.280 0.7500 0.8200 0.8600 0.8200 0.9700
Cash Flow per Share 2 1.660 1.030 0.5800 0.4600 0.1800 0.2500
Capex 1 125 146 58.4 80.6 73 62.8
Capex / Sales 1.52% 1.81% 1.83% 2.8% 2.92% 2.57%
Announcement Date 4/27/19 4/29/20 4/28/21 4/27/22 4/27/23 4/25/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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