TENFU (CAYMAN) HOLDINGS COMPANY LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.59 HKD | 0.00% |
|
+9.29% | -8.20% |
| Mar. 12 | Tenfu's Profit Rises Over 3% in 2023 | MT |
| Mar. 12 | Tenfu Holdings Company Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 29 May 2024 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 5,857 | 5,966 | 5,626 | 4,993 | 5,022 | 4,937 |
| Enterprise Value (EV) 1 | 5,483 | 6,310 | 5,991 | 5,377 | 5,525 | 5,340 |
| P/E ratio | 22.2 x | 22.8 x | 18.5 x | 13.9 x | 24.3 x | 23.2 x |
| Yield | 3.52% | 3.42% | 4.38% | 5.7% | 3.13% | 3.43% |
| Capitalization / Revenue | 3.58 x | 3.32 x | 3.29 x | 2.59 x | 2.93 x | 2.85 x |
| EV / Revenue | 3.35 x | 3.51 x | 3.5 x | 2.79 x | 3.22 x | 3.08 x |
| EV / EBITDA | 12.4 x | 12.4 x | 10.7 x | 9.01 x | 14.6 x | 13.6 x |
| EV / FCF | 24.4 x | 26.4 x | 26.8 x | 21.9 x | 28.8 x | 14.4 x |
| FCF Yield | 4.09% | 3.79% | 3.74% | 4.58% | 3.48% | 6.95% |
| Price to Book | 2.87 x | 3.52 x | 3.21 x | 2.72 x | 2.84 x | 2.76 x |
| Nbr of stocks (in thousands) | 1,199,592 | 1,108,869 | 1,099,478 | 1,094,294 | 1,091,365 | 1,086,337 |
| Reference price 2 | 4.882 | 5.380 | 5.117 | 4.563 | 4.601 | 4.545 |
| Announcement Date | 4/8/19 | 4/8/20 | 4/13/21 | 4/11/22 | 4/13/23 | 4/8/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 1,636 | 1,797 | 1,713 | 1,925 | 1,715 | 1,734 |
| EBITDA 1 | 443.2 | 510.8 | 560.9 | 597.1 | 377.2 | 391.5 |
| EBIT 1 | 369 | 440.4 | 488.2 | 525.2 | 295.5 | 308.2 |
| Operating Margin | 22.56% | 24.51% | 28.51% | 27.29% | 17.23% | 17.78% |
| Earnings before Tax (EBT) 1 | 371.3 | 416 | 467.1 | 508.7 | 288.2 | 295.3 |
| Net income 1 | 268.6 | 273.1 | 305.4 | 359.5 | 206.5 | 213.2 |
| Net margin | 16.42% | 15.2% | 17.83% | 18.68% | 12.04% | 12.3% |
| EPS 2 | 0.2197 | 0.2363 | 0.2760 | 0.3276 | 0.1893 | 0.1957 |
| Free Cash Flow 1 | 224.5 | 239.2 | 223.9 | 246.1 | 192 | 371.1 |
| FCF margin | 13.72% | 13.31% | 13.07% | 12.78% | 11.19% | 21.4% |
| FCF Conversion (EBITDA) | 50.65% | 46.83% | 39.91% | 41.21% | 50.91% | 94.79% |
| FCF Conversion (Net income) | 83.56% | 87.58% | 73.31% | 68.45% | 93.01% | 174.03% |
| Dividend per Share 2 | 0.1720 | 0.1840 | 0.2240 | 0.2600 | 0.1440 | 0.1560 |
| Announcement Date | 4/8/19 | 4/8/20 | 4/13/21 | 4/11/22 | 4/13/23 | 4/8/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | 345 | 365 | 384 | 503 | 403 |
| Net Cash position 1 | 374 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.6748 x | 0.6506 x | 0.6435 x | 1.334 x | 1.029 x |
| Free Cash Flow 1 | 224 | 239 | 224 | 246 | 192 | 371 |
| ROE (net income / shareholders' equity) | 13% | 14.6% | 17.7% | 20.1% | 11.5% | 12% |
| ROA (Net income/ Total Assets) | 8.34% | 9.59% | 10.4% | 10.6% | 5.82% | 6.27% |
| Assets 1 | 3,223 | 2,848 | 2,938 | 3,384 | 3,550 | 3,399 |
| Book Value Per Share 2 | 1.700 | 1.530 | 1.590 | 1.670 | 1.620 | 1.640 |
| Cash Flow per Share 2 | 0.5600 | 0.1700 | 0.3300 | 0.2200 | 0.3200 | 0.2500 |
| Capex 1 | 40.9 | 48.8 | 42.5 | 96.6 | 97.5 | 74.3 |
| Capex / Sales | 2.5% | 2.71% | 2.48% | 5.02% | 5.68% | 4.29% |
| Announcement Date | 4/8/19 | 4/8/20 | 4/13/21 | 4/11/22 | 4/13/23 | 4/8/24 |
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. | |
|---|---|---|
| -8.20% | 637M | |
| +1.98% | 12.65B | |
| -15.02% | 10.81B | |
| +23.42% | 1.56B | |
| +1.87% | 991M | |
| +2.64% | 922M | |
| -.--% | 729M | |
| +3.45% | 546M | |
| -2.83% | 276M | |
| +7.44% | 247M |
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