CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED Financials China Merchants Port Holdings Company Limited
Equities
144
HK0144000764
Marine Port Services
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 10.36 HKD | +0.58% |
|
+3.39% | -2.63% |
| Apr. 02 | China Merchants Port Group's 2023 Profit Rises 7% Despite 3% Revenue Drop | MT |
| Apr. 01 | China Merchants Port Holdings' Net Profit Declines in 2023 | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 45,457 | 34,744 | 53,756 | 45,799 | 44,667 | 43,491 | - | - |
| Enterprise Value (EV) 1 | 76,168 | 63,527 | 81,484 | 71,649 | 68,644 | 65,683 | 67,841 | 67,257 |
| P/E ratio | 5.32 x | 6.49 x | 6.46 x | 5.68 x | 6.94 x | 6.62 x | 6.34 x | 5.92 x |
| Yield | 6.07% | 7.27% | 6.62% | 7.17% | 6.58% | 6.82% | 7.21% | 7.61% |
| Capitalization / Revenue | 5.11 x | 3.88 x | 4.54 x | 3.65 x | 3.89 x | 3.66 x | 3.57 x | 3.38 x |
| EV / Revenue | 8.56 x | 7.1 x | 6.88 x | 5.71 x | 5.98 x | 5.53 x | 5.56 x | 5.23 x |
| EV / EBITDA | 17.8 x | 14.4 x | 11.5 x | 12.4 x | 10.6 x | 10.4 x | 10.2 x | 9.63 x |
| EV / FCF | 22.3 x | 15.8 x | 11.7 x | 9.86 x | - | 12.7 x | 13 x | 12.3 x |
| FCF Yield | 4.49% | 6.35% | 8.53% | 10.1% | - | 7.89% | 7.67% | 8.1% |
| Price to Book | 0.56 x | 0.36 x | 0.51 x | 0.44 x | 0.43 x | 0.41 x | 0.4 x | 0.38 x |
| Nbr of stocks (in thousands) | 3,448,948 | 3,661,088 | 3,785,620 | 4,003,383 | 4,198,009 | 4,198,009 | - | - |
| Reference price 2 | 13.18 | 9.490 | 14.20 | 11.44 | 10.64 | 10.36 | 10.36 | 10.36 |
| Announcement Date | 3/30/20 | 3/30/21 | 3/30/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,898 | 8,945 | 11,850 | 12,545 | 11,482 | 11,874 | 12,198 | 12,860 |
| EBITDA 1 | 4,291 | 4,406 | 7,073 | 5,790 | 6,452 | 6,345 | 6,635 | 6,986 |
| EBIT 1 | 9,243 | 4,225 | 4,787 | 3,417 | 4,243 | 4,237 | 4,301 | 4,652 |
| Operating Margin | 103.88% | 47.23% | 40.4% | 27.24% | 36.95% | 35.68% | 35.26% | 36.18% |
| Earnings before Tax (EBT) 1 | 11,756 | 7,158 | 10,626 | 10,075 | 8,559 | 8,869 | 9,248 | 9,754 |
| Net income 1 | 8,362 | 5,151 | 8,144 | 7,781 | 6,233 | 6,653 | 6,926 | 7,422 |
| Net margin | 93.98% | 57.59% | 68.73% | 62.02% | 54.28% | 56.03% | 56.78% | 57.72% |
| EPS 2 | 2.478 | 1.462 | 2.199 | 2.015 | 1.532 | 1.564 | 1.633 | 1.751 |
| Free Cash Flow 1 | 3,421 | 4,033 | 6,951 | 7,267 | - | 5,184 | 5,206 | 5,446 |
| FCF margin | 38.45% | 45.09% | 58.66% | 57.93% | - | 43.66% | 42.68% | 42.35% |
| FCF Conversion (EBITDA) | 79.73% | 91.53% | 98.28% | 125.51% | - | 81.71% | 78.47% | 77.95% |
| FCF Conversion (Net income) | 40.91% | 78.3% | 85.35% | 93.39% | - | 77.93% | 75.17% | 73.37% |
| Dividend per Share 2 | 0.8000 | 0.6900 | 0.9400 | 0.8200 | 0.7000 | 0.7060 | 0.7470 | 0.7883 |
| Announcement Date | 3/30/20 | 3/30/21 | 3/30/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 Q1 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,434 | 4,077 | 4,868 | 5,663 | 6,187 | 6,508 | 6,037 | 3,694 | 5,805 | 5,677 | 6,260 | 5,807 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | - | 1,546 | - | - | 3,433 | 4,825 | - | 850 | - | - | - | - |
| Net margin | - | 37.92% | - | - | 55.49% | 74.14% | - | 23.01% | - | - | - | - |
| EPS | 0.5177 | 0.4483 | 1.014 | 1.287 | - | 1.275 | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/30/20 | 8/28/20 | 3/30/21 | 8/30/21 | 3/30/22 | 8/30/22 | 3/31/23 | 4/28/23 | 9/18/23 | 3/28/24 | - | - |
1HKD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 30,711 | 28,783 | 27,728 | 25,850 | 23,977 | 22,192 | 24,350 | 23,766 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.157 x | 6.533 x | 3.92 x | 4.465 x | 3.716 x | 3.497 x | 3.67 x | 3.402 x |
| Free Cash Flow 1 | 3,421 | 4,033 | 6,951 | 7,267 | - | 5,185 | 5,207 | 5,446 |
| ROE (net income / shareholders' equity) | 10.8% | 4.78% | 8.2% | 7.49% | 6.03% | 6.03% | 6.18% | 6.15% |
| ROA (Net income/ Total Assets) | 5.78% | 2.61% | 4.67% | 4.44% | 3.62% | 3.73% | 3.89% | 4.03% |
| Assets 1 | 144,671 | 197,682 | 174,379 | 175,422 | 172,235 | 178,456 | 178,052 | 184,067 |
| Book Value Per Share 2 | 23.60 | 26.70 | 27.60 | 25.80 | 24.60 | 25.40 | 26.20 | 27.30 |
| Cash Flow per Share 2 | 1.870 | 1.650 | 2.370 | 2.270 | - | 1.580 | 1.610 | 1.710 |
| Capex 1 | 2,889 | 1,789 | 1,834 | 1,514 | 1,873 | 2,829 | 2,936 | 2,930 |
| Capex / Sales | 32.47% | 20% | 15.48% | 12.07% | 16.31% | 23.83% | 24.07% | 22.79% |
| Announcement Date | 3/30/20 | 3/30/21 | 3/30/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
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
9
Last Close Price
10.36
HKD
Average target price
12.14
HKD
Spread / Average Target
+17.22%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.63% | 5.56B | |
| +29.31% | 34.31B | |
| +14.90% | 18.09B | |
| 0.00% | 13.47B | |
| -14.11% | 7.59B | |
| +8.23% | 7.39B | |
| +21.75% | 6.85B | |
| +21.22% | 6.19B | |
| 0.00% | 4.12B | |
| +0.31% | 3.74B |
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- Financials China Merchants Port Holdings Company Limited
