Financials FULONGMA GROUP Co.,Ltd.

Equities

603686

CNE100001V52

Environmental Services & Equipment

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
8.68 ^CNY	+0.93%		+4.70%	-15.15%

Apr. 19	FULONGMA GROUP Co.,Ltd. agreed to acquire 20.3% stake in Fulongma New Energy Technology Development Co., Ltd. from Yuanyu Equity Investment (Longyan City) Partnership Enterprise (Limited Partnership) for CNY 0.0 million.	CI
Apr. 19	FULONGMA GROUP Co.,Ltd. agreed to acquire additional 20% stake in Fulongma Environmental Technology Co., Ltd from Yangcheng Xinsheng Equity Investment Partnership (Limited Partnership) for CNY 0.0 million.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,539	6,684	5,897	3,544	4,250	3,606	-	-
Enterprise Value (EV) ¹	4,539	6,684	5,897	3,544	4,250	3,606	3,606	3,606
P/E ratio	16.8 x	15.2 x	17.5 x	13.7 x	18.3 x	13.2 x	10.9 x	9.04 x
Yield	1.83%	2.36%	-	-	-	-	-	-
Capitalization / Revenue	1.07 x	1.23 x	-	-	0.83 x	0.6 x	0.51 x	0.44 x
EV / Revenue	1.07 x	1.23 x	-	-	0.83 x	0.6 x	0.51 x	0.44 x
EV / EBITDA	9.58 x	8.23 x	-	-	6.35 x	5.32 x	4.64 x	3.85 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.82 x	2.35 x	-	-	1.28 x	1.03 x	0.97 x	0.9 x
Nbr of stocks (in thousands)	415,656	415,656	410,645	410,645	415,430	415,430	-	-
Reference price ²	10.92	16.08	14.36	8.630	10.23	8.680	8.680	8.680
Announcement Date	4/14/20	4/7/21	4/11/22	4/13/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,228	5,443	-	-	5,106	5,963	7,085	8,223
EBITDA ¹	474	812.1	-	-	669.3	678.2	776.8	935.7
EBIT ¹	364.6	649.3	-	-	418.1	492.9	599.7	713.6
Operating Margin	8.62%	11.93%	-	-	8.19%	8.27%	8.46%	8.68%
Earnings before Tax (EBT) ¹	361.6	642.9	-	-	413.7	488.5	595.3	709.2
Net income ¹	270.4	442.6	340.3	260.8	232.4	274.5	334.5	398.5
Net margin	6.39%	8.13%	-	-	4.55%	4.6%	4.72%	4.85%
EPS ²	0.6500	1.060	0.8200	0.6300	0.5600	0.6600	0.8000	0.9600
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.2000	0.3800	-	-	-	-	-	-
Announcement Date	4/14/20	4/7/21	4/11/22	4/13/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2022 Q1
Net sales	1,455	-
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income ¹	-	79.09
Net margin	-	-
EPS	-	-
Dividend per Share	-	-
Announcement Date	10/28/21	4/28/22

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	11.2%	16.4%	-	-	7.18%	9.35%	10.5%	11.3%
ROA (Net income/ Total Assets)	6.24%	8.85%	-	-	-	-	-	-
Assets ¹	4,336	5,003	-	-	-	-	-	-
Book Value Per Share ²	6.010	6.850	-	-	7.980	8.390	8.950	9.660
Cash Flow per Share ²	0.7800	2.120	-	-	2.090	1.970	2.020	2.290
Capex ¹	409	477	-	-	255	253	305	321
Capex / Sales	9.67%	8.77%	-	-	4.99%	4.24%	4.31%	3.9%
Announcement Date	4/14/20	4/7/21	4/11/22	4/13/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for FULONGMA GROUP Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.68 CNY

Average target price

11.95 CNY

Spread / Average Target

+37.67%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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