Financials Qingdao Sentury Tire Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
27.82 ^CNY	+0.22%		+6.06%	+35.00%

Apr. 18	Qingdao Sentury Tire Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 12	Qingdao Sentury Tire Co., Ltd. Announces Dividend Implementation, Payable on 19 April 2024	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	16,495	23,109	20,003	21,314	28,543	-	-
Enterprise Value (EV) ¹	16,495	23,109	20,003	21,314	28,543	28,543	28,543
P/E ratio	15.5 x	30.9 x	25.7 x	15.1 x	13 x	11.4 x	9.55 x
Yield	-	0.48%	-	1.42%	1.6%	1.98%	2.02%
Capitalization / Revenue	-	4.46 x	3.18 x	2.72 x	2.95 x	2.48 x	2.09 x
EV / Revenue	-	4.46 x	3.18 x	2.72 x	2.95 x	2.48 x	2.09 x
EV / EBITDA	-	-	16.1 x	11 x	10.1 x	8.85 x	7.56 x
EV / FCF	-	-36.3 x	-837 x	17.4 x	9.28 x	20.2 x	24.7 x
FCF Yield	-	-2.75%	-0.12%	5.76%	10.8%	4.95%	4.05%
Price to Book	-	3.48 x	2.75 x	1.87 x	2.13 x	1.85 x	1.6 x
Nbr of stocks (in thousands)	909,537	909,537	909,539	1,034,287	1,026,000	-	-
Reference price ²	18.14	25.41	21.99	20.61	27.82	27.82	27.82
Announcement Date	2/1/21	2/14/22	2/20/23	2/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	5,177	6,292	7,842	9,691	11,525	13,662
EBITDA ¹	-	-	1,239	1,945	2,813	3,225	3,774
EBIT ¹	-	728.3	864.8	1,471	2,229	2,585	3,049
Operating Margin	-	14.07%	13.74%	18.76%	23%	22.43%	22.32%
Earnings before Tax (EBT) ¹	-	775.4	852.5	1,471	2,228	2,581	3,045
Net income ¹	980.6	753.4	800.9	1,369	2,102	2,412	2,850
Net margin	-	14.55%	12.73%	17.45%	21.69%	20.93%	20.86%
EPS ²	1.171	0.8214	0.8571	1.364	2.144	2.444	2.913
Free Cash Flow ¹	-	-635.8	-23.9	1,227	3,076	1,412	1,155
FCF margin	-	-12.28%	-0.38%	15.65%	31.74%	12.25%	8.45%
FCF Conversion (EBITDA)	-	-	-	63.08%	109.33%	43.78%	30.61%
FCF Conversion (Net income)	-	-	-	89.67%	146.31%	58.53%	40.53%
Dividend per Share ²	-	0.1214	-	0.2929	0.4462	0.5510	0.5621
Announcement Date	2/1/21	2/14/22	2/20/23	2/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-636	-23.9	1,227	3,076	1,412	1,155
ROE (net income / shareholders' equity)	-	12.9%	11.5%	16.4%	15.4%	15.5%	15.7%
ROA (Net income/ Total Assets)	-	-	7.45%	10.2%	11.9%	11.9%	12.3%
Assets ¹	-	-	10,755	13,386	17,626	20,225	23,102
Book Value Per Share ²	-	7.310	8.010	11.00	13.10	15.00	17.40
Cash Flow per Share ²	-	-	1.130	2.270	2.390	3.010	2.920
Capex ¹	-	1,467	1,052	1,140	1,502	1,749	1,711
Capex / Sales	-	28.34%	16.72%	14.53%	15.5%	15.17%	12.52%
Announcement Date	2/1/21	2/14/22	2/20/23	2/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

27.82 CNY

Average target price

36.98 CNY

Spread / Average Target

+32.91%

	1st Jan change	Capi.
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