Financials Zhejiang Meorient Commerce Exhibition Inc.

Equities

300795

CNE100003QN8

Business Support Services

End-of-day quote Shenzhen S.E. 06:00:00 2024-05-09 pm EDT 5-day change 1st Jan Change
22.92 CNY -3.78% Intraday chart for Zhejiang Meorient Commerce Exhibition Inc. +4.28% -6.75%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,833 1,911 2,123 4,123 5,640 5,259 - -
Enterprise Value (EV) 1 2,833 1,911 2,123 4,123 5,640 5,259 5,259 5,259
P/E ratio 34.1 x -29.4 x -36.6 x 81.6 x 30 x 19.5 x 14.8 x 11.7 x
Yield - - - - 1.36% 1.79% 2.37% 3.01%
Capitalization / Revenue 6.65 x - - 11.8 x 6.75 x 4.61 x 3.7 x 3.05 x
EV / Revenue 6.65 x - - 11.8 x 6.75 x 4.61 x 3.7 x 3.05 x
EV / EBITDA 32.3 x - - 103 x 24.1 x 16.6 x 12.6 x 10.3 x
EV / FCF - - - - 21.3 x 14.3 x 12.7 x 9.87 x
FCF Yield - - - - 4.7% 6.98% 7.89% 10.1%
Price to Book 4.71 x - - 9.21 x 8.59 x 6.18 x 4.64 x 3.53 x
Nbr of stocks (in thousands) 225,369 225,369 225,369 227,293 229,442 229,442 - -
Reference price 2 12.57 8.480 9.422 18.14 24.58 22.92 22.92 22.92
Announcement Date 3/19/20 4/26/21 3/22/22 4/18/23 3/11/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 425.8 - - 348.3 835 1,141 1,421 1,725
EBITDA 1 87.68 - - 40.08 234.4 317.3 417.8 512.3
EBIT 1 83.19 - - 55.76 227.7 342.8 450.1 568.6
Operating Margin 19.54% - - 16.01% 27.28% 30.05% 31.67% 32.96%
Earnings before Tax (EBT) 1 86.16 - - 55.19 229.5 343.1 450.1 568.6
Net income 1 66.12 -64.63 -57.65 50.39 188.2 269.6 354.1 447
Net margin 15.53% - - 14.47% 22.54% 23.64% 24.92% 25.92%
EPS 2 0.3689 -0.2889 -0.2578 0.2222 0.8200 1.178 1.547 1.956
Free Cash Flow 1 - - - - 264.8 367 415 533
FCF margin - - - - 31.71% 32.18% 29.2% 30.9%
FCF Conversion (EBITDA) - - - - 112.98% 115.67% 99.34% 104.04%
FCF Conversion (Net income) - - - - 140.7% 136.12% 117.19% 119.23%
Dividend per Share 2 - - - - 0.3333 0.4100 0.5433 0.6900
Announcement Date 3/19/20 4/26/21 3/22/22 4/18/23 3/11/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - - 265 367 415 533
ROE (net income / shareholders' equity) 20.9% - - 12.3% 34.4% 31.8% 31.4% 30.3%
ROA (Net income/ Total Assets) - - - - 21.7% 23% 23.6% 23.6%
Assets 1 - - - - 868.4 1,173 1,499 1,892
Book Value Per Share 2 2.670 - - 1.970 2.860 3.710 4.940 6.490
Cash Flow per Share 2 0.2600 - - 0.3300 1.180 1.800 1.720 2.150
Capex 1 3.52 - - 2.09 6.57 13.3 10.4 9.41
Capex / Sales 0.83% - - 0.6% 0.79% 1.16% 0.73% 0.55%
Announcement Date 3/19/20 4/26/21 3/22/22 4/18/23 3/11/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
22.92
Average target price
-
Consensus

Annual profits - Rate of surprise

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