FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD. Financials Foshan Haitian Flavouring and Food Company Ltd.
Equities
603288
CNE100001SL2
Food Processing
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 38.84 CNY | +2.05% |
|
+4.44% | +2.35% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 290,317 | 649,838 | 442,784 | 368,853 | 211,025 | 215,711 | - | - |
| Enterprise Value (EV) 1 | 276,881 | 632,973 | 423,096 | 350,875 | 189,800 | 194,081 | 190,764 | 189,910 |
| P/E ratio | 54.3 x | 101 x | 66.5 x | 59.4 x | 37.6 x | 34.3 x | 28.4 x | 28 x |
| Yield | 1% | 0.51% | 0.72% | 0.88% | 1.74% | 1.91% | 1.78% | 2% |
| Capitalization / Revenue | 14.7 x | 28.5 x | 17.7 x | 14.4 x | 8.59 x | 7.9 x | 6.97 x | 6.57 x |
| EV / Revenue | 14 x | 27.8 x | 16.9 x | 13.7 x | 7.73 x | 7.11 x | 6.16 x | 5.79 x |
| EV / EBITDA | 40.4 x | 77 x | 49.5 x | 42.9 x | 24.8 x | 25.5 x | 21.1 x | 19.9 x |
| EV / FCF | 46.2 x | 105 x | 79.7 x | 151 x | 34.9 x | 43.2 x | 28.2 x | 28.7 x |
| FCF Yield | 2.16% | 0.96% | 1.25% | 0.66% | 2.86% | 2.31% | 3.55% | 3.49% |
| Price to Book | 17.5 x | 32.4 x | 18.9 x | 14 x | 7.4 x | 6.6 x | 5.66 x | 5.08 x |
| Nbr of stocks (in thousands) | 5,560,601 | 5,560,601 | 5,560,601 | 5,560,601 | 5,560,601 | 5,553,843 | - | - |
| Reference price 2 | 52.21 | 116.9 | 79.63 | 66.33 | 37.95 | 38.84 | 38.84 | 38.84 |
| Announcement Date | 3/25/20 | 3/30/21 | 3/24/22 | 4/25/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 19,797 | 22,792 | 25,004 | 25,610 | 24,559 | 27,307 | 30,967 | 32,822 |
| EBITDA 1 | 6,857 | 8,218 | 8,544 | 8,171 | 7,653 | 7,617 | 9,054 | 9,541 |
| EBIT 1 | 6,379 | 7,644 | 7,820 | 7,352 | 6,745 | 7,987 | 9,014 | 8,801 |
| Operating Margin | 32.22% | 33.54% | 31.28% | 28.71% | 27.46% | 29.25% | 29.11% | 26.81% |
| Earnings before Tax (EBT) 1 | 6,377 | 7,642 | 7,821 | 7,364 | 6,739 | 7,528 | 9,035 | 9,350 |
| Net income 1 | 5,353 | 6,403 | 6,671 | 6,198 | 5,627 | 6,303 | 7,645 | 7,725 |
| Net margin | 27.04% | 28.09% | 26.68% | 24.2% | 22.91% | 23.08% | 24.69% | 23.54% |
| EPS 2 | 0.9615 | 1.154 | 1.197 | 1.117 | 1.010 | 1.133 | 1.369 | 1.389 |
| Free Cash Flow 1 | 5,988 | 6,045 | 5,310 | 2,317 | 5,433 | 4,492 | 6,768 | 6,622 |
| FCF margin | 30.25% | 26.52% | 21.24% | 9.05% | 22.12% | 16.45% | 21.86% | 20.17% |
| FCF Conversion (EBITDA) | 87.33% | 73.56% | 62.14% | 28.36% | 71% | 58.96% | 74.75% | 69.4% |
| FCF Conversion (Net income) | 111.86% | 94.41% | 79.6% | 37.39% | 96.56% | 71.26% | 88.53% | 85.72% |
| Dividend per Share 2 | 0.5245 | 0.6002 | 0.5758 | 0.5833 | 0.6600 | 0.7401 | 0.6901 | 0.7760 |
| Announcement Date | 3/25/20 | 3/30/21 | 3/24/22 | 4/25/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 7,010 | 12,672 | 7,210 | 6,322 | 13,532 | 5,562 | 6,515 | 6,981 | 5,985 | 5,685 | 5,909 | 7,694 | 6,913 | 6,452 | 7,238 |
| EBITDA | - | 2,136 | - | - | 1,738 | - | 1,485 | - | - | - | - | - | - | - | - | - |
| EBIT | - | 2,285 | - | - | 1,830 | - | 1,539 | 1,808 | 2,052 | - | 1,487 | 1,555 | 2,280 | - | - | - |
| Operating Margin | - | 32.6% | - | - | 28.95% | - | 27.66% | 27.75% | 29.4% | - | 26.15% | 26.32% | 29.63% | - | - | - |
| Earnings before Tax (EBT) | - | 2,281 | 3,876 | - | 1,842 | - | 1,539 | 1,808 | - | 1,649 | 1,487 | 1,551 | - | - | - | - |
| Net income | 3,253 | 1,963 | 3,318 | - | 1,564 | 3,393 | 1,274 | 1,531 | - | 1,381 | 1,232 | 1,298 | - | - | - | - |
| Net margin | - | 28.01% | 26.18% | - | 24.74% | 25.08% | 22.9% | 23.49% | - | 23.07% | 21.68% | 21.97% | - | - | - | - |
| EPS 2 | 0.9324 | 0.3485 | - | 0.3258 | 0.2500 | - | 0.2333 | 0.2750 | 0.3083 | 0.2517 | 0.2200 | 0.2300 | 0.3500 | 0.2800 | 0.2500 | 0.3300 |
| Dividend per Share 2 | - | 0.5758 | - | - | - | - | - | 0.5833 | - | - | - | - | - | - | - | 0.6606 |
| Announcement Date | 8/27/20 | 3/24/22 | 3/24/22 | 4/28/22 | 8/29/22 | 8/29/22 | 10/26/22 | 4/25/23 | 4/25/23 | 8/29/23 | 10/30/23 | 4/26/24 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 13,436 | 16,865 | 19,688 | 17,978 | 21,225 | 21,631 | 24,947 | 25,801 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 5,988 | 6,045 | 5,310 | 2,317 | 5,433 | 4,492 | 6,768 | 6,622 |
| ROE (net income / shareholders' equity) | 33.7% | 36.1% | 30.7% | 25.5% | 20.7% | 20.2% | 20.8% | 18.7% |
| ROA (Net income/ Total Assets) | 23.8% | 23.6% | 21.2% | 18.4% | - | 15.2% | 16.1% | 15.7% |
| Assets 1 | 22,449 | 27,143 | 31,436 | 33,698 | - | 41,572 | 47,472 | 49,081 |
| Book Value Per Share 2 | 2.980 | 3.610 | 4.210 | 4.750 | 5.130 | 5.890 | 6.860 | 7.650 |
| Cash Flow per Share 2 | 1.180 | 1.250 | 1.130 | 0.6900 | 1.320 | 1.170 | 1.570 | 1.370 |
| Capex 1 | 579 | 905 | 1,014 | 1,513 | 1,922 | 1,074 | 1,094 | 1,404 |
| Capex / Sales | 2.93% | 3.97% | 4.05% | 5.91% | 7.83% | 3.93% | 3.53% | 4.28% |
| Announcement Date | 3/25/20 | 3/30/21 | 3/24/22 | 4/25/23 | 4/26/24 | - | - | - |
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
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
27
Last Close Price
38.84
CNY
Average target price
40.41
CNY
Spread / Average Target
+4.05%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.35% | 29.77B | |
| +4.50% | 21.6B | |
| +13.39% | 11.83B | |
| +12.40% | 5.15B | |
| +11.10% | 4.21B | |
| -16.49% | 3.48B | |
| -3.79% | 3.14B | |
| +4.73% | 3.11B | |
| +27.19% | 2.79B | |
| -14.60% | 2.34B |
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- 603288 Stock
- Financials Foshan Haitian Flavouring and Food Company Ltd.
