Financials Chongqing Fuling Electric Power Industrial Co., Ltd.

Equities

600452

CNE000001GT1

Electric Utilities

End-of-day quote Shanghai S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
13.66 CNY +1.79% Intraday chart for Chongqing Fuling Electric Power Industrial Co., Ltd. +3.48% +3.48%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,550 5,786 7,222 15,350 13,811 14,487
Enterprise Value (EV) 1 4,265 6,641 7,604 14,492 11,902 12,226
P/E ratio 10.2 x 14.6 x 18.1 x 26.5 x 22.5 x 27.5 x
Yield 1.39% 1.19% 1.34% 0.79% 1.19% 1.1%
Capitalization / Revenue 1.45 x 2.21 x 2.72 x 4.88 x 3.88 x 4.21 x
EV / Revenue 1.74 x 2.53 x 2.86 x 4.61 x 3.34 x 3.55 x
EV / EBITDA 4.1 x 5.78 x 6.1 x 9.3 x 7.1 x 7.77 x
EV / FCF 59.4 x -10.8 x 5.59 x -8.37 x 13 x 38.6 x
FCF Yield 1.68% -9.27% 17.9% -11.9% 7.7% 2.59%
Price to Book 2.42 x 3.12 x 3.75 x 3.74 x 3 x 2.91 x
Nbr of stocks (in thousands) 885,105 885,105 885,105 1,097,530 1,097,530 1,097,530
Reference price 2 4.011 6.537 8.160 13.99 12.58 13.20
Announcement Date 3/28/19 4/16/20 4/8/21 4/14/22 4/20/23 4/18/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,448 2,622 2,654 3,146 3,562 3,442
EBITDA 1 1,040 1,149 1,246 1,558 1,676 1,573
EBIT 1 361 422.2 435.9 549 631.5 579
Operating Margin 14.75% 16.1% 16.42% 17.45% 17.73% 16.82%
Earnings before Tax (EBT) 1 369.3 416.8 431.5 540.4 677.2 619.1
Net income 1 348.7 396.7 400.8 505.2 613.1 525.4
Net margin 14.25% 15.13% 15.1% 16.06% 17.21% 15.26%
EPS 2 0.3948 0.4482 0.4514 0.5278 0.5583 0.4800
Free Cash Flow 1 71.82 -615.7 1,361 -1,732 916.1 316.9
FCF margin 2.93% -23.48% 51.28% -55.05% 25.72% 9.21%
FCF Conversion (EBITDA) 6.9% - 109.25% - 54.66% 20.15%
FCF Conversion (Net income) 20.59% - 339.65% - 149.41% 60.32%
Dividend per Share 2 0.0557 0.0779 0.1091 0.1111 0.1500 0.1450
Announcement Date 3/28/19 4/16/20 4/8/21 4/14/22 4/20/23 4/18/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 715 855 382 - - -
Net Cash position 1 - - - 858 1,909 2,261
Leverage (Debt/EBITDA) 0.6869 x 0.7447 x 0.3067 x - - -
Free Cash Flow 1 71.8 -616 1,361 -1,732 916 317
ROE (net income / shareholders' equity) 26.8% 23.9% 21.2% 16.7% 14.1% 11%
ROA (Net income/ Total Assets) 5.1% 5.51% 5.04% 5.6% 5.95% 5.31%
Assets 1 6,838 7,195 7,957 9,028 10,307 9,900
Book Value Per Share 2 1.660 2.100 2.170 3.740 4.200 4.540
Cash Flow per Share 2 0.5100 0.3900 0.7900 1.080 2.020 2.070
Capex 1 946 1,203 558 1,754 474 604
Capex / Sales 38.65% 45.88% 21.02% 55.77% 13.3% 17.53%
Announcement Date 3/28/19 4/16/20 4/8/21 4/14/22 4/20/23 4/18/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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