YIHAI INTERNATIONAL HOLDING LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 16.18 HKD | +4.79% |
|
+14.10% | +30.48% |
| Mar. 28 | Jefferies Adjusts Yihai International Holding’s Price Target to HK$15.80 From HK$12.50, Keeps at Hold | MT |
| Mar. 26 | Yihai International Holding Ltd. Announces Board Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 39,734 | 94,886 | 28,796 | 23,896 | 10,934 | 14,530 | - | - |
| Enterprise Value (EV) 1 | 38,252 | 92,899 | 27,223 | 23,896 | 10,934 | 11,809 | 11,422 | 10,901 |
| P/E ratio | 55.1 x | 107 x | 37.6 x | 32.2 x | 12.9 x | 15.7 x | 14.1 x | 12.9 x |
| Yield | 0.5% | 0.26% | 0.75% | - | - | 4.77% | 5.27% | 5.39% |
| Capitalization / Revenue | 9.28 x | 17.7 x | 4.85 x | 3.89 x | 1.78 x | 2.14 x | 1.93 x | 1.81 x |
| EV / Revenue | 8.93 x | 17.3 x | 4.58 x | 3.89 x | 1.78 x | 1.74 x | 1.52 x | 1.36 x |
| EV / EBITDA | 34 x | 65.4 x | 21.4 x | 18.6 x | 7.9 x | 7.92 x | 6.83 x | 6.25 x |
| EV / FCF | 55.2 x | 109 x | 138 x | - | - | 24.2 x | 12.9 x | 10.9 x |
| FCF Yield | 1.81% | 0.92% | 0.73% | - | - | 4.13% | 7.73% | 9.14% |
| Price to Book | 16.4 x | 30.8 x | 8.08 x | - | - | 2.94 x | 2.59 x | 2.5 x |
| Nbr of stocks (in thousands) | 972,894 | 980,332 | 980,332 | 980,332 | 970,132 | 970,132 | - | - |
| Reference price 2 | 40.84 | 96.79 | 29.37 | 24.38 | 11.27 | 14.98 | 14.98 | 14.98 |
| Announcement Date | 3/25/20 | 3/23/21 | 3/23/22 | 3/30/23 | 3/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,282 | 5,360 | 5,943 | 6,147 | 6,148 | 6,797 | 7,517 | 8,040 |
| EBITDA 1 | 1,126 | 1,420 | 1,270 | 1,283 | 1,384 | 1,490 | 1,673 | 1,743 |
| EBIT 1 | 1,072 | 1,334 | 1,147 | 1,118 | 1,195 | 1,306 | 1,473 | 1,574 |
| Operating Margin | 25.02% | 24.88% | 19.3% | 18.18% | 19.44% | 19.22% | 19.6% | 19.58% |
| Earnings before Tax (EBT) 1 | 1,094 | 1,352 | 1,170 | 1,142 | 1,264 | 1,411 | 1,590 | 1,716 |
| Net income 1 | 718.6 | 885.2 | 766.2 | 742 | 852.7 | 948.2 | 1,063 | 1,155 |
| Net margin | 16.78% | 16.52% | 12.89% | 12.07% | 13.87% | 13.95% | 14.14% | 14.36% |
| EPS 2 | 0.7410 | 0.9020 | 0.7820 | 0.7570 | 0.8750 | 0.9563 | 1.059 | 1.163 |
| Free Cash Flow 1 | 693.3 | 853.1 | 197.5 | - | - | 487.3 | 882.3 | 996.3 |
| FCF margin | 16.19% | 15.92% | 3.32% | - | - | 7.17% | 11.74% | 12.39% |
| FCF Conversion (EBITDA) | 61.57% | 60.08% | 15.55% | - | - | 32.7% | 52.73% | 57.16% |
| FCF Conversion (Net income) | 96.48% | 96.37% | 25.77% | - | - | 51.4% | 82.98% | 86.3% |
| Dividend per Share 2 | 0.2059 | 0.2537 | 0.2196 | - | - | 0.7139 | 0.7898 | 0.8076 |
| Announcement Date | 3/25/20 | 3/23/21 | 3/23/22 | 3/30/23 | 3/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,627 | 2,218 | 3,142 | 2,631 | 3,312 | 2,688 | 3,459 | 2,616 | 3,531 | 3,068 | 3,865 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 693.2 | - | 759.6 | 400 | 631.3 | - | 728.4 | 498.4 | - | 471.7 | 784.5 |
| Operating Margin | 26.39% | - | 24.18% | 15.2% | 19.06% | - | 21.06% | 19.05% | - | 15.38% | 20.3% |
| Earnings before Tax (EBT) | 708.1 | - | 766.5 | - | 645.3 | - | 740.8 | - | - | - | - |
| Net income | 448.3 | 398.9 | 486.3 | 348.8 | 417.4 | 263.1 | 478.8 | - | - | - | - |
| Net margin | 17.07% | 17.98% | 15.48% | 13.26% | 12.6% | 9.79% | 13.85% | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/25/20 | 8/25/20 | 3/23/21 | 8/24/21 | 3/23/22 | 8/30/22 | 3/30/23 | 8/29/23 | 3/26/24 | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,482 | 1,987 | 1,574 | - | - | 2,721 | 3,108 | 3,629 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 693 | 853 | 197 | - | - | 487 | 882 | 996 |
| ROE (net income / shareholders' equity) | 31.1% | 30% | 21.6% | - | - | 19% | 18.9% | 19.4% |
| ROA (Net income/ Total Assets) | 24.9% | 23.3% | 16.5% | - | - | 15.2% | 15.5% | 15.4% |
| Assets 1 | 2,887 | 3,800 | 4,646 | - | - | 6,234 | 6,867 | 7,515 |
| Book Value Per Share 2 | 2.500 | 3.150 | 3.640 | - | - | 5.090 | 5.780 | 5.990 |
| Cash Flow per Share 2 | 0.9800 | 1.200 | 0.8500 | - | - | 1.070 | 1.230 | 1.280 |
| Capex 1 | 258 | 326 | 632 | - | - | 327 | 298 | 289 |
| Capex / Sales | 6.03% | 6.08% | 10.64% | - | - | 4.81% | 3.96% | 3.59% |
| Announcement Date | 3/25/20 | 3/23/21 | 3/23/22 | 3/30/23 | 3/26/24 | - | - | - |
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
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
14.98
CNY
Average target price
15.15
CNY
Spread / Average Target
+1.16%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +30.48% | 2.01B | |
| +2.35% | 29.8B | |
| +4.50% | 21.6B | |
| +13.39% | 11.83B | |
| +12.40% | 5.15B | |
| +11.10% | 4.21B | |
| -16.49% | 3.48B | |
| -3.79% | 3.14B | |
| +4.73% | 3.11B | |
| +27.19% | 2.79B |
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