SINOFERT HOLDINGS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.87 HKD | -1.14% |
|
+8.75% | -4.40% |
| Apr. 10 | Sinofert to Offload Nitrogen Fertilizer Business | MT |
| Apr. 01 | Syngenta Abandons $9 Billion Shanghai IPO Plan | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 5,551 | 5,085 | 4,493 | 6,697 | 5,894 | 5,810 |
| Enterprise Value (EV) 1 | 7,350 | 5,473 | 5,493 | 6,474 | 4,355 | 3,719 |
| P/E ratio | 12.1 x | 8.26 x | 6.98 x | 7.73 x | 5.28 x | 9.29 x |
| Yield | 2.48% | 3.63% | 4.3% | 4.53% | 6.64% | 5.38% |
| Capitalization / Revenue | 0.24 x | 0.22 x | 0.21 x | 0.3 x | 0.26 x | 0.27 x |
| EV / Revenue | 0.32 x | 0.24 x | 0.26 x | 0.29 x | 0.19 x | 0.17 x |
| EV / EBITDA | 11.5 x | 5.75 x | 6.93 x | 7.35 x | 3.57 x | 3.62 x |
| EV / FCF | 2.93 x | 4.84 x | 10.4 x | -8.67 x | 3.59 x | 8.94 x |
| FCF Yield | 34.2% | 20.6% | 9.61% | -11.5% | 27.8% | 11.2% |
| Price to Book | 0.76 x | 0.66 x | 0.56 x | 0.77 x | 0.62 x | 0.6 x |
| Nbr of stocks (in thousands) | 7,024,456 | 7,024,456 | 7,024,456 | 7,024,456 | 7,024,456 | 7,024,456 |
| Reference price 2 | 0.7903 | 0.7239 | 0.6397 | 0.9533 | 0.8390 | 0.8271 |
| Announcement Date | 4/15/19 | 4/8/20 | 4/16/21 | 4/20/22 | 4/21/23 | 4/25/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 22,996 | 22,951 | 21,381 | 22,641 | 23,003 | 21,728 |
| EBITDA 1 | 637.5 | 951.9 | 792.4 | 880.5 | 1,221 | 1,027 |
| EBIT 1 | 334.8 | 672.6 | 589.6 | 692.7 | 997.8 | 675.9 |
| Operating Margin | 1.46% | 2.93% | 2.76% | 3.06% | 4.34% | 3.11% |
| Earnings before Tax (EBT) 1 | 451.1 | 650.3 | 671.7 | 900.1 | 1,187 | 846.2 |
| Net income 1 | 460.5 | 615.8 | 644.1 | 866.6 | 1,117 | 625.5 |
| Net margin | 2% | 2.68% | 3.01% | 3.83% | 4.86% | 2.88% |
| EPS 2 | 0.0656 | 0.0877 | 0.0917 | 0.1234 | 0.1590 | 0.0891 |
| Free Cash Flow 1 | 2,510 | 1,130 | 528.1 | -746.3 | 1,212 | 416 |
| FCF margin | 10.91% | 4.92% | 2.47% | -3.3% | 5.27% | 1.91% |
| FCF Conversion (EBITDA) | 393.74% | 118.66% | 66.65% | - | 99.24% | 40.52% |
| FCF Conversion (Net income) | 545.08% | 183.45% | 82% | - | 108.5% | 66.51% |
| Dividend per Share 2 | 0.0196 | 0.0263 | 0.0275 | 0.0432 | 0.0557 | 0.0445 |
| Announcement Date | 4/15/19 | 4/8/20 | 4/16/21 | 4/20/22 | 4/21/23 | 4/25/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 1,799 | 388 | 1,000 | - | - | - |
| Net Cash position 1 | - | - | - | 223 | 1,538 | 2,091 |
| Leverage (Debt/EBITDA) | 2.821 x | 0.4074 x | 1.262 x | - | - | - |
| Free Cash Flow 1 | 2,510 | 1,130 | 528 | -746 | 1,212 | 416 |
| ROE (net income / shareholders' equity) | 7.05% | 8.62% | 8.24% | 10.3% | 12% | 6.96% |
| ROA (Net income/ Total Assets) | 1.05% | 2.44% | 2.17% | 2.5% | 3.26% | 1.97% |
| Assets 1 | 43,940 | 25,253 | 29,701 | 34,633 | 34,323 | 31,694 |
| Book Value Per Share 2 | 1.050 | 1.100 | 1.140 | 1.240 | 1.350 | 1.380 |
| Cash Flow per Share 2 | 0.0800 | 0.1900 | 0.1100 | 0.1900 | 0.4800 | 0.5600 |
| Capex 1 | 464 | 761 | 601 | 1,348 | 1,191 | 527 |
| Capex / Sales | 2.02% | 3.32% | 2.81% | 5.95% | 5.18% | 2.43% |
| Announcement Date | 4/15/19 | 4/8/20 | 4/16/21 | 4/20/22 | 4/21/23 | 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
| 1st Jan change | Capi. | |
|---|---|---|
| -4.40% | 790M | |
| +26.95% | 724M | |
| -36.19% | 625M | |
| -8.40% | 330M | |
| -6.41% | 210M | |
| -.--% | 101M | |
| +23.93% | 80.84M |
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