Financials Anhui Estone Materials Technology Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
19.97 ^CNY	-3.01%		+0.66%	-31.77%

Apr. 29	Anhui Estone Materials Technology Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 21	Estone Materials, Hunan Huamin Tie Up for Synthetic Quartz Sand R&D	MT

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	14,529	7,526	5,800	3,953	-	-
Enterprise Value (EV) ¹	14,529	7,526	5,800	3,953	3,953	3,953
P/E ratio	112 x	47.7 x	244 x	29.2 x	19.6 x	16 x
Yield	0.25%	0.53%	0.34%	1%	-	-
Capitalization / Revenue	34.4 x	12.5 x	12.5 x	4.56 x	3.36 x	3.41 x
EV / Revenue	34.4 x	12.5 x	12.5 x	4.56 x	3.36 x	3.41 x
EV / EBITDA	95.7 x	36.2 x	59.7 x	23.3 x	16 x	11.7 x
EV / FCF	-	-21,271,958 x	-	-	-	-
FCF Yield	-	-0%	-	-	-	-
Price to Book	11.9 x	3.33 x	2.61 x	1.71 x	1.56 x	1.49 x
Nbr of stocks (in thousands)	182,164	199,775	198,171	197,965	-	-
Reference price ²	79.76	37.67	29.27	19.97	19.97	19.97
Announcement Date	2/23/22	2/27/23	2/23/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	422.7	603	464.5	867.4	1,178	1,158
EBITDA ¹	-	151.9	207.6	97.21	169.7	247.2	336.6
EBIT ¹	-	122.6	163.4	18.07	78.77	205.2	180.3
Operating Margin	-	29.01%	27.1%	3.89%	9.08%	17.42%	15.57%
Earnings before Tax (EBT) ¹	-	123.8	167.7	17.77	80.48	209.1	181.4
Net income ¹	45.09	108.2	146.9	24.52	136.5	204.2	250.4
Net margin	-	25.6%	24.36%	5.28%	15.74%	17.34%	21.62%
EPS ²	0.3300	0.7100	0.7900	0.1200	0.6850	1.020	1.250
Free Cash Flow	-	-	-353.8	-	-	-	-
FCF margin	-	-	-58.67%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	0.2000	0.2000	0.1000	0.2000	-	-
Announcement Date	7/28/21	2/23/22	2/27/23	2/23/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-354	-	-	-	-
ROE (net income / shareholders' equity)	-	14.4%	9.71%	1.09%	5.67%	7.81%	9.36%
ROA (Net income/ Total Assets)	-	10.7%	6.66%	0.82%	3.45%	4.1%	-
Assets ¹	-	1,007	2,206	2,980	3,957	4,981	-
Book Value Per Share ²	-	6.730	11.30	11.20	11.70	12.80	13.40
Cash Flow per Share ²	-	-0.2200	0.2500	0.0300	0.1500	1.800	1.180
Capex ¹	-	159	404	414	358	330	249
Capex / Sales	-	37.72%	67.04%	89.12%	41.3%	28.05%	21.49%
Announcement Date	7/28/21	2/23/22	2/27/23	2/23/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.97 CNY

Average target price

26.47 CNY

Spread / Average Target

+32.53%

	1st Jan change	Capi.
ANHUI ESTONE MATERIALS TECHNOLOGY CO.,LTD	-31.77%	547M
AIR LIQUIDE	+5.97%	105B
SABIC	-4.19%	63.99B
PT CHANDRA ASRI PACIFIC TBK	+51.90%	42.95B
WANHUA CHEMICAL GROUP CO., LTD.	+17.44%	39.2B
LYONDELLBASELL INDUSTRIES N.V.	+6.62%	33.01B
WESTLAKE CORPORATION	+13.00%	20.33B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+15.64%	17.29B
HENGLI PETROCHEMICAL CO.,LTD.	+22.55%	15.72B
RONGSHENG PETROCHEMICAL CO., LTD.	+7.34%	14.72B