Financials Cinda Real Estate Co., Ltd.

Equities

600657

CNE000000966

Real Estate Development & Operations

End-of-day quote Shanghai S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
3.66 CNY +7.33% Intraday chart for Cinda Real Estate Co., Ltd. +12.27% +1.95%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 11,208 11,379 11,550 10,638 14,659 10,238
Enterprise Value (EV) 1 27,986 28,208 18,117 28,369 26,813 30,345
P/E ratio 3.78 x 4.93 x 7.64 x 12.9 x 27.1 x 19.9 x
Yield 3.05% 2.51% - 1.88% 0.78% -
Capitalization / Revenue 0.6 x 0.58 x 0.45 x 0.48 x 0.8 x 0.9 x
EV / Revenue 1.49 x 1.45 x 0.7 x 1.28 x 1.47 x 2.66 x
EV / EBITDA 8.49 x 9.12 x 4.69 x 44.6 x 10.7 x 21.5 x
EV / FCF -4.44 x 5.3 x 2.52 x -6.26 x 7.23 x -7.22 x
FCF Yield -22.5% 18.9% 39.6% -16% 13.8% -13.9%
Price to Book 0.56 x 0.52 x 0.5 x 0.45 x 0.61 x 0.42 x
Nbr of stocks (in thousands) 2,851,879 2,851,879 2,851,879 2,851,879 2,851,879 2,851,879
Reference price 2 3.930 3.990 4.050 3.730 5.140 3.590
Announcement Date 3/29/19 3/31/20 3/26/21 3/29/22 3/28/23 3/26/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 18,754 19,478 25,864 22,105 18,248 11,420
EBITDA 1 3,298 3,092 3,860 636.2 2,512 1,409
EBIT 1 3,204 2,993 3,839 613.4 2,490 1,384
Operating Margin 17.08% 15.36% 14.84% 2.77% 13.65% 12.12%
Earnings before Tax (EBT) 1 3,364 3,621 3,061 1,467 1,471 875.6
Net income 1 2,151 2,315 1,502 815.3 550.4 505.4
Net margin 11.47% 11.89% 5.81% 3.69% 3.02% 4.43%
EPS 2 1.040 0.8100 0.5300 0.2900 0.1900 0.1800
Free Cash Flow 1 -6,306 5,324 7,176 -4,533 3,709 -4,206
FCF margin -33.63% 27.33% 27.75% -20.5% 20.33% -36.83%
FCF Conversion (EBITDA) - 172.15% 185.88% - 147.65% -
FCF Conversion (Net income) - 229.93% 477.75% - 673.94% -
Dividend per Share 2 0.1200 0.1000 - 0.0700 0.0400 -
Announcement Date 3/29/19 3/31/20 3/26/21 3/29/22 3/28/23 3/26/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 16,778 16,829 6,567 17,732 12,155 20,107
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.088 x 5.442 x 1.701 x 27.87 x 4.838 x 14.27 x
Free Cash Flow 1 -6,306 5,324 7,176 -4,533 3,709 -4,206
ROE (net income / shareholders' equity) 16.2% 11.7% 7.43% 3.46% 2.31% 2.39%
ROA (Net income/ Total Assets) 2.31% 1.87% 2.49% 0.42% 1.78% 1.01%
Assets 1 93,160 123,852 60,369 192,685 31,005 49,982
Book Value Per Share 2 6.980 7.670 8.100 8.370 8.490 8.640
Cash Flow per Share 2 6.850 5.080 7.410 4.290 4.320 3.390
Capex 1 9.54 30.2 18.7 24.2 19.7 39.6
Capex / Sales 0.05% 0.15% 0.07% 0.11% 0.11% 0.35%
Announcement Date 3/29/19 3/31/20 3/26/21 3/29/22 3/28/23 3/26/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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