Financials Wenfeng Great World Chain Development Corporation

Equities

601010

CNE1000013F2

Department Stores

End-of-day quote Shanghai S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
2.09 CNY -.--% Intraday chart for Wenfeng Great World Chain Development Corporation +6.09% -14.34%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,359 5,655 5,452 6,364 5,270 4,413
Enterprise Value (EV) 1 4,631 4,684 4,246 5,473 4,417 3,343
P/E ratio 22.3 x 17 x 19.7 x 26.7 x -32.1 x 27.1 x
Yield 1.38% 2.94% 4.92% 3.72% - -
Capitalization / Revenue 0.84 x 0.94 x 2.32 x 2.57 x 2.2 x 2.04 x
EV / Revenue 0.73 x 0.78 x 1.81 x 2.21 x 1.85 x 1.54 x
EV / EBITDA 8.25 x 7.99 x 8.45 x 10.1 x 10.6 x 7.24 x
EV / FCF 69.2 x 9.68 x 13.3 x 12.4 x 11.4 x 8.6 x
FCF Yield 1.44% 10.3% 7.51% 8.08% 8.78% 11.6%
Price to Book 1.19 x 1.19 x 1.12 x 1.33 x 1.21 x 1.18 x
Nbr of stocks (in thousands) 1,848,000 1,848,000 1,848,000 1,834,014 1,823,357 1,808,696
Reference price 2 2.900 3.060 2.950 3.470 2.890 2.440
Announcement Date 4/8/19 4/14/20 4/19/21 4/29/22 4/28/23 4/29/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 6,373 5,993 2,349 2,474 2,393 2,166
EBITDA 1 561.4 586 502.3 539.4 415.8 461.9
EBIT 1 363.7 385.2 302.4 335.4 203.6 238.9
Operating Margin 5.71% 6.43% 12.87% 13.56% 8.51% 11.03%
Earnings before Tax (EBT) 1 384.7 472.8 333.3 308.6 -143.1 242.5
Net income 1 242.3 334.3 268.3 236.6 -162 170.6
Net margin 3.8% 5.58% 11.42% 9.56% -6.77% 7.88%
EPS 2 0.1300 0.1800 0.1500 0.1300 -0.0900 0.0900
Free Cash Flow 1 66.9 484 318.9 442.2 387.8 388.8
FCF margin 1.05% 8.08% 13.57% 17.87% 16.21% 17.95%
FCF Conversion (EBITDA) 11.92% 82.61% 63.48% 81.99% 93.26% 84.19%
FCF Conversion (Net income) 27.61% 144.78% 118.86% 186.94% - 227.96%
Dividend per Share 2 0.0400 0.0900 0.1450 0.1290 - -
Announcement Date 4/8/19 4/14/20 4/19/21 4/29/22 4/28/23 4/29/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 728 971 1,206 891 853 1,070
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 66.9 484 319 442 388 389
ROE (net income / shareholders' equity) 5.47% 7.22% 5.56% 4.88% -3.69% 3.76%
ROA (Net income/ Total Assets) 3.55% 3.73% 2.83% 2.97% 1.82% 2.27%
Assets 1 6,824 8,952 9,467 7,961 -8,923 7,529
Book Value Per Share 2 2.440 2.580 2.640 2.620 2.400 2.070
Cash Flow per Share 2 0.2500 0.1800 0.1800 0.3400 0.4000 0.5100
Capex 1 352 177 197 177 233 202
Capex / Sales 5.52% 2.95% 8.38% 7.16% 9.73% 9.31%
Announcement Date 4/8/19 4/14/20 4/19/21 4/29/22 4/28/23 4/29/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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