BAOSHAN IRON & STEEL CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.09 CNY | -0.28% |
|
-3.67% | +19.56% |
| Apr. 26 | China's Baosteel Q1 net profit climbs 4.4% despite sagging steel prices | RE |
| Apr. 26 | Baoshan Iron & Steel Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 127,855 | 132,503 | 159,442 | 123,854 | 128,987 | 154,219 | - | - |
| Enterprise Value (EV) 1 | 142,135 | 151,799 | 184,433 | 141,357 | 148,389 | 167,960 | 149,298 | 137,805 |
| P/E ratio | 10.3 x | 10.4 x | 6.69 x | 9.98 x | 10.8 x | 11.9 x | 10.5 x | 9.16 x |
| Yield | 4.88% | 5.04% | 3.49% | 1.79% | 3.37% | 3.76% | 4.47% | 5.53% |
| Capitalization / Revenue | 0.44 x | 0.47 x | 0.44 x | 0.34 x | 0.37 x | 0.44 x | 0.42 x | 0.44 x |
| EV / Revenue | 0.49 x | 0.54 x | 0.51 x | 0.38 x | 0.43 x | 0.48 x | 0.41 x | 0.4 x |
| EV / EBITDA | 4.11 x | 4.29 x | 3.58 x | 3.98 x | - | 4.97 x | 3.91 x | 3.69 x |
| EV / FCF | 11.3 x | 15.7 x | 4.81 x | 6.07 x | 29.5 x | 15.9 x | 11.2 x | 6.1 x |
| FCF Yield | 8.87% | 6.37% | 20.8% | 16.5% | 3.39% | 6.3% | 8.91% | 16.4% |
| Price to Book | 0.72 x | 0.72 x | 0.84 x | 0.64 x | 0.65 x | 0.78 x | 0.72 x | 0.71 x |
| Nbr of stocks (in thousands) | 22,274,460 | 22,269,448 | 22,268,412 | 22,156,356 | 21,751,577 | 21,751,577 | - | - |
| Reference price 2 | 5.740 | 5.950 | 7.160 | 5.590 | 5.930 | 7.090 | 7.090 | 7.090 |
| Announcement Date | 4/28/20 | 4/26/21 | 4/28/22 | 4/27/23 | 1/30/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 291,594 | 283,674 | 364,349 | 367,778 | 344,500 | 348,716 | 364,346 | 348,531 |
| EBITDA 1 | 34,555 | 35,407 | 51,540 | 35,543 | - | 33,775 | 38,136 | 37,373 |
| EBIT 1 | 15,515 | 16,955 | 32,563 | 15,604 | 15,984 | 18,161 | 20,426 | 26,166 |
| Operating Margin | 5.32% | 5.98% | 8.94% | 4.24% | 4.64% | 5.21% | 5.61% | 7.51% |
| Earnings before Tax (EBT) 1 | 14,994 | 16,022 | 30,708 | 15,044 | 15,086 | 16,895 | 19,262 | 21,410 |
| Net income 1 | 12,423 | 12,677 | 23,632 | 12,187 | 11,944 | 13,111 | 14,954 | 17,263 |
| Net margin | 4.26% | 4.47% | 6.49% | 3.31% | 3.47% | 3.76% | 4.1% | 4.95% |
| EPS 2 | 0.5600 | 0.5700 | 1.070 | 0.5600 | 0.5500 | 0.5934 | 0.6728 | 0.7739 |
| Free Cash Flow 1 | 12,606 | 9,673 | 38,381 | 23,281 | 5,027 | 10,576 | 13,302 | 22,601 |
| FCF margin | 4.32% | 3.41% | 10.53% | 6.33% | 1.46% | 3.03% | 3.65% | 6.48% |
| FCF Conversion (EBITDA) | 36.48% | 27.32% | 74.47% | 65.5% | - | 31.31% | 34.88% | 60.47% |
| FCF Conversion (Net income) | 101.47% | 76.3% | 162.41% | 191.03% | 42.09% | 80.67% | 88.95% | 130.92% |
| Dividend per Share 2 | 0.2800 | 0.3000 | 0.2500 | 0.1000 | 0.2000 | 0.2666 | 0.3173 | 0.3920 |
| Announcement Date | 4/28/20 | 4/26/21 | 4/28/22 | 4/27/23 | 1/30/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 141,087 | 150,718 | 129,772 | 153,903 | 185,252 | 86,127 | 179,097 | 85,980 | 97,675 | 183,655 | 94,597 | 89,526 | 184,123 | 78,602 | 91,252 | 169,855 | 85,162 | 89,484 | 174,646 | 80,814 | 75,625 | 170,656 | 90,503 | 102,986 | 170,656 | 172,477 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | 21,543 | 1,922 | 11,020 | 5,305 | 5,882 | 11,187 | 2,368 | 2,050 | 4,417 | 2,961 | 3,942 | 6,904 | 5,537 | - | 9,080 | 2,843 | - | 11,686 | - | - | 11,069 | 14,066 |
| Operating Margin | - | - | - | - | 11.63% | 2.23% | 6.15% | 6.17% | 6.02% | 6.09% | 2.5% | 2.29% | 2.4% | 3.77% | 4.32% | 4.06% | 6.5% | - | 5.2% | 3.52% | - | 6.85% | - | - | 6.49% | 8.16% |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | 1,577 | - | 5,145 | 5,713 | - | 2,290 | 1,896 | - | 2,814 | 3,702 | - | 5,389 | 3,181 | - | 2,788 | 2,875 | - | 3,583 | 1,925 | - | - |
| Net income 1 | - | - | - | - | - | 2,042 | - | 3,732 | 4,059 | 7,791 | 1,672 | 2,723 | - | 1,845 | 2,707 | - | 3,798 | 3,594 | - | 1,926 | 2,342 | - | 2,993 | 1,468 | - | - |
| Net margin | - | - | - | - | - | 2.37% | - | 4.34% | 4.16% | 4.24% | 1.77% | 3.04% | - | 2.35% | 2.97% | - | 4.46% | 4.02% | - | 2.38% | 3.1% | - | 3.31% | 1.43% | - | - |
| EPS 2 | 0.2800 | 0.2800 | 0.1800 | 0.3900 | 0.6800 | 0.0900 | 0.3900 | 0.1700 | 0.1800 | 0.3500 | 0.0800 | 0.1300 | 0.2100 | 0.0800 | 0.1300 | 0.2100 | 0.1700 | 0.1700 | 0.3400 | 0.0900 | 0.1052 | 0.3500 | 0.1344 | - | 0.3300 | 0.4400 |
| Dividend per Share 2 | - | - | - | - | - | 0.2500 | - | - | - | - | - | 0.1000 | - | - | 0.1100 | - | - | - | - | - | - | - | - | 0.1792 | - | - |
| Announcement Date | 8/22/19 | 4/28/20 | 8/27/20 | 4/26/21 | 8/27/21 | 4/28/22 | 4/28/22 | 4/28/22 | 8/30/22 | 8/30/22 | 10/25/22 | 4/27/23 | 4/27/23 | 4/27/23 | 8/30/23 | 8/30/23 | 10/24/23 | 1/30/24 | 1/30/24 | 4/26/24 | - | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 14,280 | 19,296 | 24,991 | 17,503 | 19,403 | 13,741 | - | - |
| Net Cash position 1 | - | - | - | - | - | - | 4,921 | 16,414 |
| Leverage (Debt/EBITDA) | 0.4132 x | 0.545 x | 0.4849 x | 0.4924 x | - | 0.4068 x | - | - |
| Free Cash Flow 1 | 12,606 | 9,673 | 38,381 | 23,281 | 5,027 | 10,577 | 13,302 | 22,601 |
| ROE (net income / shareholders' equity) | 7.05% | 7.03% | 12.4% | 6.33% | 6.01% | 6.32% | 6.82% | 7.3% |
| ROA (Net income/ Total Assets) | 3.68% | 3.61% | 6.4% | 3.13% | - | 3.43% | 3.78% | 6% |
| Assets 1 | 337,771 | 351,060 | 369,088 | 389,323 | - | 382,801 | 396,046 | 287,714 |
| Book Value Per Share 2 | 7.990 | 8.280 | 8.570 | 8.740 | 9.060 | 9.050 | 9.820 | 10.00 |
| Cash Flow per Share 2 | 1.320 | 1.260 | 2.690 | 2.010 | 1.140 | 1.250 | 1.350 | - |
| Capex 1 | 16,898 | 18,411 | 21,488 | 21,438 | 20,275 | 17,234 | 15,297 | 18,154 |
| Capex / Sales | 5.79% | 6.49% | 5.9% | 5.83% | 5.89% | 4.94% | 4.2% | 5.21% |
| Announcement Date | 4/28/20 | 4/26/21 | 4/28/22 | 4/27/23 | 1/30/24 | - | - | - |
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
A
Sell
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
7.09
CNY
Average target price
7.562
CNY
Spread / Average Target
+6.65%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +19.56% | 21.28B | |
| +0.70% | 25.86B | |
| -9.07% | 11.73B | |
| +24.56% | 11.2B | |
| +11.54% | 10.91B | |
| +10.96% | 10.15B | |
| +2.61% | 8.56B | |
| +5.78% | 7.32B | |
| +22.56% | 6.92B | |
| -3.33% | 6.52B |
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