SHENZHEN CEREALS HOLDINGS CO.,LTD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.68 CNY | -0.89% |
|
+2.14% | -11.41% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 8,035 | 6,848 | 8,425 | 7,814 | 8,434 | 8,452 |
| Enterprise Value (EV) 1 | 7,906 | 7,234 | 9,120 | 8,986 | 9,609 | 9,470 |
| P/E ratio | 26.7 x | 19.3 x | 21.3 x | 18.7 x | 20.6 x | 25 x |
| Yield | 1.4% | 3.29% | 2.67% | 3.59% | 3.33% | 2.65% |
| Capitalization / Revenue | 0.75 x | 0.62 x | 0.71 x | 0.77 x | 1.01 x | 1.37 x |
| EV / Revenue | 0.73 x | 0.65 x | 0.77 x | 0.89 x | 1.16 x | 1.53 x |
| EV / EBITDA | 17.7 x | 14.3 x | 17 x | 14.4 x | 15 x | 16.6 x |
| EV / FCF | -23.4 x | -14.5 x | 490 x | 82.1 x | 129 x | 34.6 x |
| FCF Yield | -4.28% | -6.88% | 0.2% | 1.22% | 0.77% | 2.89% |
| Price to Book | 1.97 x | 1.59 x | 1.88 x | 1.73 x | 1.82 x | 1.8 x |
| Nbr of stocks (in thousands) | 1,152,535 | 1,152,535 | 1,152,535 | 1,152,535 | 1,152,535 | 1,152,535 |
| Reference price 2 | 7.140 | 6.080 | 7.500 | 6.960 | 7.510 | 7.540 |
| Announcement Date | 4/26/19 | 4/27/20 | 4/26/21 | 4/25/22 | 4/25/23 | 4/15/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 10,759 | 11,060 | 11,885 | 10,140 | 8,313 | 6,190 |
| EBITDA 1 | 446 | 505.5 | 537.5 | 623.6 | 640.2 | 571.3 |
| EBIT 1 | 348.4 | 410.8 | 435.2 | 510.4 | 509.2 | 437.2 |
| Operating Margin | 3.24% | 3.71% | 3.66% | 5.03% | 6.13% | 7.06% |
| Earnings before Tax (EBT) 1 | 339.3 | 429 | 457.8 | 516.1 | 470.9 | 421.4 |
| Net income 1 | 308.3 | 363.5 | 405.1 | 428.7 | 420.6 | 347.8 |
| Net margin | 2.87% | 3.29% | 3.41% | 4.23% | 5.06% | 5.62% |
| EPS 2 | 0.2675 | 0.3154 | 0.3515 | 0.3720 | 0.3649 | 0.3018 |
| Free Cash Flow 1 | -338.2 | -498 | 18.61 | 109.4 | 74.37 | 273.8 |
| FCF margin | -3.14% | -4.5% | 0.16% | 1.08% | 0.89% | 4.42% |
| FCF Conversion (EBITDA) | - | - | 3.46% | 17.54% | 11.62% | 47.92% |
| FCF Conversion (Net income) | - | - | 4.6% | 25.52% | 17.68% | 78.71% |
| Dividend per Share 2 | 0.1000 | 0.2000 | 0.2000 | 0.2500 | 0.2500 | 0.2000 |
| Announcement Date | 4/26/19 | 4/27/20 | 4/26/21 | 4/25/22 | 4/25/23 | 4/15/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | 386 | 695 | 1,173 | 1,175 | 1,019 |
| Net Cash position 1 | 129 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.7632 x | 1.294 x | 1.881 x | 1.835 x | 1.783 x |
| Free Cash Flow 1 | -338 | -498 | 18.6 | 109 | 74.4 | 274 |
| ROE (net income / shareholders' equity) | 7.72% | 8.58% | 8.57% | 9.19% | 8.78% | 7.14% |
| ROA (Net income/ Total Assets) | 3.52% | 3.88% | 3.86% | 4.26% | 4.21% | 3.68% |
| Assets 1 | 8,765 | 9,376 | 10,489 | 10,065 | 9,984 | 9,445 |
| Book Value Per Share 2 | 3.620 | 3.840 | 3.990 | 4.020 | 4.130 | 4.190 |
| Cash Flow per Share 2 | 0.5500 | 0.1300 | 0.1700 | 0.0400 | 0.0500 | 0.2000 |
| Capex 1 | 383 | 579 | 330 | 204 | 198 | 148 |
| Capex / Sales | 3.56% | 5.24% | 2.78% | 2.01% | 2.38% | 2.38% |
| Announcement Date | 4/26/19 | 4/27/20 | 4/26/21 | 4/25/22 | 4/25/23 | 4/15/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -11.41% | 1.05B | |
| +6.89% | 2B | |
| -9.30% | 1.81B | |
| +4.45% | 1.37B | |
| -0.58% | 1.06B | |
| -9.53% | 1.03B | |
| -16.84% | 929M | |
| +12.57% | 757M | |
| -5.94% | 449M | |
| -66.86% | 358M |
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