SHANDONG LINGLONG TYRE CO.,LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 22.83 CNY | +0.62% |
|
+1.92% | +18.72% |
| Apr. 25 | Shandong Linglong Tyre's Q1 Profit Jumps 106% | MT |
| Apr. 25 | Linglong Tyre to Apply for Credit of Up to 11.8 Billion Yuan; Shares Down 5% | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 27,012 | 45,289 | 49,360 | 29,793 | 28,167 | 33,412 | - | - |
| Enterprise Value (EV) 1 | 32,245 | 45,006 | 54,206 | 35,741 | 36,465 | 42,050 | 41,673 | 40,128 |
| P/E ratio | 16.7 x | 19.9 x | 63 x | 102 x | 20.2 x | 15.1 x | 12.7 x | 10.2 x |
| Yield | 1.88% | 1.39% | 0.44% | 0.29% | 1.49% | 1.98% | 2.61% | 2.93% |
| Capitalization / Revenue | 1.57 x | 2.46 x | 2.66 x | 1.75 x | 1.4 x | 1.34 x | 1.16 x | 1.02 x |
| EV / Revenue | 1.88 x | 2.45 x | 2.92 x | 2.1 x | 1.81 x | 1.69 x | 1.45 x | 1.22 x |
| EV / EBITDA | 11.9 x | 12.9 x | 26.6 x | 25.4 x | 12.7 x | 9.18 x | 7.58 x | 6.5 x |
| EV / FCF | - | - | -12.6 x | -10.7 x | -19.5 x | 31 x | -45.2 x | 9.99 x |
| FCF Yield | - | - | -7.92% | -9.33% | -5.14% | 3.22% | -2.21% | 10% |
| Price to Book | 2.56 x | 2.93 x | 3.06 x | 1.57 x | 1.36 x | 1.49 x | 1.38 x | 1.24 x |
| Nbr of stocks (in thousands) | 1,178,012 | 1,287,714 | 1,350,492 | 1,454,732 | 1,464,722 | 1,463,503 | - | - |
| Reference price 2 | 22.93 | 35.17 | 36.55 | 20.48 | 19.23 | 22.83 | 22.83 | 22.83 |
| Announcement Date | 4/13/20 | 4/12/21 | 4/28/22 | 4/28/23 | 3/11/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,164 | 18,383 | 18,579 | 17,006 | 20,165 | 24,847 | 28,711 | 32,759 |
| EBITDA 1 | 2,711 | 3,481 | 2,037 | 1,408 | 2,882 | 4,583 | 5,501 | 6,170 |
| EBIT 1 | 1,648 | 2,319 | 730.3 | 156.9 | 1,528 | 2,519 | 3,009 | 3,696 |
| Operating Margin | 9.6% | 12.61% | 3.93% | 0.92% | 7.58% | 10.14% | 10.48% | 11.28% |
| Earnings before Tax (EBT) 1 | 1,665 | 2,311 | 713.9 | 156.6 | 1,529 | 2,459 | 2,964 | 3,618 |
| Net income 1 | 1,668 | 2,220 | 788.7 | 291.6 | 1,391 | 2,235 | 2,715 | 3,284 |
| Net margin | 9.72% | 12.08% | 4.25% | 1.71% | 6.9% | 9% | 9.46% | 10.02% |
| EPS 2 | 1.370 | 1.770 | 0.5800 | 0.2000 | 0.9500 | 1.517 | 1.795 | 2.229 |
| Free Cash Flow 1 | - | - | -4,294 | -3,335 | -1,874 | 1,354 | -922.3 | 4,018 |
| FCF margin | - | - | -23.11% | -19.61% | -9.29% | 5.45% | -3.21% | 12.27% |
| FCF Conversion (EBITDA) | - | - | - | - | - | 29.55% | - | 65.13% |
| FCF Conversion (Net income) | - | - | - | - | - | 60.6% | - | 122.36% |
| Dividend per Share 2 | 0.4300 | 0.4900 | 0.1600 | 0.0600 | 0.2860 | 0.4526 | 0.5953 | 0.6693 |
| Announcement Date | 4/13/20 | 4/12/21 | 4/28/22 | 4/28/23 | 3/11/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,264 | 4,351 | 4,052 | 4,373 | 4,229 | 4,385 | 4,852 | 5,293 | 5,635 | 5,045 | 6,535 | 7,038 | 7,038 | - | - |
| EBITDA 1 | -45.73 | - | 330 | 543.3 | - | - | - | - | - | - | 1,088 | 1,172 | 1,172 | - | - |
| EBIT 1 | -198.8 | -164.6 | 185.6 | 67.7 | 68.26 | - | 381.6 | 440.7 | 497.3 | - | 695.6 | 749.1 | 749.1 | - | - |
| Operating Margin | -4.66% | -3.78% | 4.58% | 1.55% | 1.61% | - | 7.87% | 8.33% | 8.82% | - | 10.64% | 10.64% | 10.64% | - | - |
| Earnings before Tax (EBT) 1 | -217.2 | -163.1 | 182.6 | 70.02 | 67.15 | - | 380.7 | 439.9 | 496.1 | - | 621.2 | 669 | 669 | - | - |
| Net income 1 | -140 | -91.89 | 202.6 | 105.4 | 75.44 | - | 347.2 | 398.6 | 431.1 | - | 559.1 | 602.1 | 602.1 | - | - |
| Net margin | -3.28% | -2.11% | 5% | 2.41% | 1.78% | - | 7.16% | 7.53% | 7.65% | - | 8.56% | 8.56% | 8.56% | - | - |
| EPS 2 | -0.1000 | -0.0700 | 0.1500 | 0.0700 | 0.0500 | - | 0.2300 | 0.2700 | 0.3000 | - | 0.3786 | 0.4077 | 0.4077 | - | - |
| Dividend per Share 2 | 0.1600 | - | - | - | 0.0600 | - | - | - | - | 0.0910 | - | - | 0.4368 | - | - |
| Announcement Date | 4/28/22 | 4/29/22 | 8/25/22 | 10/28/22 | 4/28/23 | 4/28/23 | 8/29/23 | 10/23/23 | 3/11/24 | 4/24/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,233 | - | 4,846 | 5,948 | 8,298 | 8,639 | 8,262 | 6,716 |
| Net Cash position 1 | - | 283 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.93 x | - | 2.379 x | 4.226 x | 2.879 x | 1.885 x | 1.502 x | 1.089 x |
| Free Cash Flow 1 | - | - | -4,294 | -3,335 | -1,874 | 1,354 | -922 | 4,018 |
| ROE (net income / shareholders' equity) | 16% | 17.7% | 4.79% | 1.58% | 6.93% | 10.1% | 11.1% | 12.2% |
| ROA (Net income/ Total Assets) | 6.37% | 7.95% | 2.49% | - | - | 4.86% | 5.32% | 5.85% |
| Assets 1 | 26,188 | 27,940 | 31,718 | - | - | 45,989 | 51,038 | 56,135 |
| Book Value Per Share 2 | 8.960 | 12.00 | 11.90 | 13.00 | 14.20 | 15.40 | 16.60 | 18.50 |
| Cash Flow per Share 2 | 2.330 | 3.120 | 0.3600 | 0.1000 | 0.8100 | 2.430 | 2.940 | 3.560 |
| Capex 1 | 2,595 | 2,426 | 4,784 | 3,481 | 3,072 | 3,205 | 3,613 | 3,355 |
| Capex / Sales | 15.12% | 13.2% | 25.75% | 20.47% | 15.24% | 12.9% | 12.58% | 10.24% |
| Announcement Date | 4/13/20 | 4/12/21 | 4/28/22 | 4/28/23 | 3/11/24 | - | - | - |
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
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
22.83
CNY
Average target price
30.82
CNY
Spread / Average Target
+35.00%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +18.72% | 4.6B | |
| +26.53% | 6.54B | |
| -1.53% | 6.41B | |
| -3.49% | 5.65B | |
| +11.36% | 4.87B | |
| +35.00% | 3.94B | |
| -5.29% | 3.9B | |
| +5.88% | 3.64B | |
| +44.36% | 3.15B | |
| +23.66% | 1.96B |
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