Financials Titan Wind Energy (Suzhou) Co.,Ltd

Equities

002531

CNE100000YH0

Renewable Energy Equipment & Services

End-of-day quote Shenzhen S.E. 06:00:00 2024-05-09 pm EDT 5-day change 1st Jan Change
10.89 CNY +0.93% Intraday chart for Titan Wind Energy (Suzhou) Co.,Ltd +4.91% -6.12%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,172 14,836 34,841 27,187 20,844 19,568 - -
Enterprise Value (EV) 1 14,077 19,104 38,907 33,667 29,948 29,108 31,267 19,568
P/E ratio 15 x 14 x 26.6 x 43.2 x 26.4 x 14.1 x 9.49 x 7.23 x
Yield 1.58% 1.78% 0.41% - 0.65% 1.31% 1.88% 2.33%
Capitalization / Revenue 1.87 x 1.84 x 4.27 x 4.03 x 2.7 x 1.74 x 1.28 x 1.07 x
EV / Revenue 2.36 x 2.37 x 4.76 x 5 x 3.88 x 2.6 x 2.05 x 1.07 x
EV / EBITDA 12 x 11.4 x 21.2 x 31.3 x 19.9 x 10.5 x 8.09 x 4.12 x
EV / FCF - - -213 x -40.2 x 36.4 x 25.8 x 14.2 x -
FCF Yield - - -0.47% -2.49% 2.75% 3.88% 7.02% -
Price to Book 1.94 x 2.24 x 4.49 x 3.3 x 2.35 x 1.92 x 1.6 x 1.34 x
Nbr of stocks (in thousands) 1,767,659 1,762,029 1,796,879 1,796,879 1,796,879 1,796,879 - -
Reference price 2 6.320 8.420 19.39 15.13 11.60 10.89 10.89 10.89
Announcement Date 2/28/20 3/11/21 4/12/22 4/28/23 4/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,967 8,051 8,166 6,738 7,727 11,214 15,254 18,203
EBITDA 1 1,178 1,669 1,833 1,074 1,502 2,783 3,864 4,745
EBIT 1 872.8 1,312 1,498 659 891 1,551 2,369 2,997
Operating Margin 14.63% 16.29% 18.34% 9.78% 11.53% 13.83% 15.53% 16.46%
Earnings before Tax (EBT) 1 877.9 1,314 1,489 666.5 886.8 1,550 2,306 2,997
Net income 1 746.5 1,050 1,310 628.1 795.2 1,388 2,061 2,708
Net margin 12.51% 13.04% 16.04% 9.32% 10.29% 12.38% 13.51% 14.88%
EPS 2 0.4200 0.6000 0.7300 0.3500 0.4400 0.7712 1.148 1.507
Free Cash Flow 1 - - -182.7 -837.9 823.2 1,128 2,196 -
FCF margin - - -2.24% -12.44% 10.65% 10.06% 14.4% -
FCF Conversion (EBITDA) - - - - 54.81% 40.53% 56.84% -
FCF Conversion (Net income) - - - - 103.52% 81.27% 106.57% -
Dividend per Share 2 0.1000 0.1500 0.0800 - 0.0750 0.1425 0.2043 0.2533
Announcement Date 2/28/20 3/11/21 4/12/22 4/28/23 4/26/24 - - -
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
Net sales 1 - - - - - - 2,946 2,098 1,320 1,054 3,396 3,532 3,939
EBITDA - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS 2 0.1500 0.0181 0.1200 0.0700 0.1400 0.1097 0.2100 0.0800 0.0400 0.0826 0.2500 0.0900 0.3000
Dividend per Share - - - - - - - - - - - - -
Announcement Date 4/12/22 4/29/22 8/18/22 10/27/22 4/28/23 4/28/23 8/28/23 10/30/23 4/26/24 4/26/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,905 4,267 4,066 6,480 9,104 9,540 11,699 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.466 x 2.557 x 2.219 x 6.034 x 6.061 x 3.428 x 3.028 x -
Free Cash Flow 1 - - -183 -838 823 1,128 2,196 -
ROE (net income / shareholders' equity) 13.5% 16.8% 18.1% 7.84% 9.37% 13.7% 17% 18.4%
ROA (Net income/ Total Assets) 5.71% 7.55% 8.6% 3.53% - 5.32% 6.49% 8.13%
Assets 1 13,071 13,908 15,224 17,791 - 26,077 31,775 33,333
Book Value Per Share 2 3.270 3.750 4.310 4.580 4.950 5.660 6.800 8.140
Cash Flow per Share 2 0.4800 0.1300 0.4300 0.4200 1.020 1.250 1.350 1.440
Capex 1 872 1,140 959 1,592 1,006 1,096 1,157 2,348
Capex / Sales 14.61% 14.16% 11.74% 23.62% 13.02% 9.77% 7.58% 12.9%
Announcement Date 2/28/20 3/11/21 4/12/22 4/28/23 4/26/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
10.89 CNY
Average target price
13.21 CNY
Spread / Average Target
+21.27%
Consensus
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