DONGFENG AUTOMOBILE CO. LTD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.59 CNY | +2.02% |
|
+1.88% | +31.54% |
| Apr. 26 | TAKE A LOOK-Beijing auto show | RE |
| Apr. 26 | TAKE A LOOK-Beijing auto show | RE |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 7,200 | 9,160 | 18,880 | 13,620 | 11,160 | 11,540 |
| Enterprise Value (EV) 1 | 3,869 | 5,338 | 13,531 | 7,204 | 4,664 | 5,004 |
| P/E ratio | 13 x | 20.7 x | 34.1 x | 36.6 x | 39.2 x | 57.7 x |
| Yield | 2.31% | 1.45% | 0.88% | 0.82% | 0.77% | 0.52% |
| Capitalization / Revenue | 0.5 x | 0.68 x | 1.37 x | 0.88 x | 0.92 x | 0.96 x |
| EV / Revenue | 0.27 x | 0.39 x | 0.99 x | 0.46 x | 0.38 x | 0.41 x |
| EV / EBITDA | 83.9 x | 67.2 x | 51.8 x | -71.5 x | -35.2 x | -11.5 x |
| EV / FCF | -4.15 x | 24.8 x | 9.26 x | 11.7 x | -7.21 x | -24.3 x |
| FCF Yield | -24.1% | 4.04% | 10.8% | 8.52% | -13.9% | -4.11% |
| Price to Book | 1.01 x | 1.24 x | 2.42 x | 1.7 x | 1.36 x | 1.39 x |
| Nbr of stocks (in thousands) | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 |
| Reference price 2 | 3.600 | 4.580 | 9.440 | 6.810 | 5.580 | 5.770 |
| Announcement Date | 3/29/19 | 4/28/20 | 3/29/21 | 3/30/22 | 4/10/23 | 4/12/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 14,421 | 13,520 | 13,733 | 15,550 | 12,190 | 12,070 |
| EBITDA 1 | 46.14 | 79.43 | 261.3 | -100.8 | -132.4 | -434 |
| EBIT 1 | -171.7 | -113.9 | 50.05 | -311.2 | -378 | -696.3 |
| Operating Margin | -1.19% | -0.84% | 0.36% | -2% | -3.1% | -5.77% |
| Earnings before Tax (EBT) 1 | 492 | 401.2 | 507.8 | 354.4 | 284.9 | 205.6 |
| Net income 1 | 553.8 | 442.4 | 553.5 | 371.7 | 285.1 | 200 |
| Net margin | 3.84% | 3.27% | 4.03% | 2.39% | 2.34% | 1.66% |
| EPS 2 | 0.2769 | 0.2212 | 0.2768 | 0.1859 | 0.1425 | 0.1000 |
| Free Cash Flow 1 | -933.4 | 215.4 | 1,461 | 613.5 | -647.3 | -205.7 |
| FCF margin | -6.47% | 1.59% | 10.64% | 3.95% | -5.31% | -1.7% |
| FCF Conversion (EBITDA) | - | 271.2% | 559.03% | - | - | - |
| FCF Conversion (Net income) | - | 48.69% | 263.93% | 165.03% | - | - |
| Dividend per Share 2 | 0.0833 | 0.0664 | 0.0831 | 0.0558 | 0.0428 | 0.0301 |
| Announcement Date | 3/29/19 | 4/28/20 | 3/29/21 | 3/30/22 | 4/10/23 | 4/12/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 3,331 | 3,822 | 5,349 | 6,416 | 6,496 | 6,536 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | -933 | 215 | 1,461 | 613 | -647 | -206 |
| ROE (net income / shareholders' equity) | 7.58% | 5.46% | 7% | 4.66% | 3.51% | 2.38% |
| ROA (Net income/ Total Assets) | -0.57% | -0.37% | 0.16% | -0.97% | -1.26% | -2.36% |
| Assets 1 | -96,540 | -119,537 | 344,863 | -38,269 | -22,667 | -8,472 |
| Book Value Per Share 2 | 3.570 | 3.700 | 3.910 | 4.010 | 4.100 | 4.150 |
| Cash Flow per Share 2 | 1.280 | 1.810 | 2.770 | 2.900 | 3.090 | 2.860 |
| Capex 1 | 358 | 347 | 297 | 183 | 203 | 203 |
| Capex / Sales | 2.48% | 2.56% | 2.17% | 1.18% | 1.67% | 1.68% |
| Announcement Date | 3/29/19 | 4/28/20 | 3/29/21 | 3/30/22 | 4/10/23 | 4/12/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +31.54% | 2.05B | |
| +9.24% | 87.34B | |
| +0.93% | 84.51B | |
| +24.68% | 76.07B | |
| +23.17% | 47.89B | |
| +18.30% | 34.02B | |
| +12.93% | 23.85B | |
| -2.79% | 19.82B | |
| +49.56% | 11.99B | |
| -8.54% | 10.13B |
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