GUIZHOU TYRE CO.,LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.34 CNY | -0.78% |
|
-6.07% | +3.59% |
| Apr. 16 | Guizhou Tyre to Pay Second-Year Interest of 1.8 Million Yuan Convertible Bonds | MT |
| Apr. 15 | Guizhou Tyre Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,598 | 3,614 | 5,248 | 5,881 | 5,497 | 7,302 |
| Enterprise Value (EV) 1 | 4,529 | 4,848 | 5,713 | 6,172 | 7,078 | 8,905 |
| P/E ratio | 30.4 x | 27.4 x | 4.6 x | 15.8 x | 14.5 x | 10.9 x |
| Yield | - | 0.86% | 2.28% | 1.63% | 4.18% | 3.27% |
| Capitalization / Revenue | 0.38 x | 0.56 x | 0.77 x | 0.8 x | 0.65 x | 0.76 x |
| EV / Revenue | 0.66 x | 0.75 x | 0.84 x | 0.84 x | 0.84 x | 0.93 x |
| EV / EBITDA | 9.39 x | 7.93 x | 5.78 x | 10.8 x | 9.07 x | 6.45 x |
| EV / FCF | 7.75 x | 20.8 x | 6.46 x | -5.7 x | -4.86 x | 63.2 x |
| FCF Yield | 12.9% | 4.81% | 15.5% | -17.5% | -20.6% | 1.58% |
| Price to Book | 0.76 x | 0.97 x | 1.08 x | 0.99 x | 0.84 x | 1.26 x |
| Nbr of stocks (in thousands) | 930,561 | 930,561 | 957,111 | 1,147,588 | 1,147,500 | 1,193,143 |
| Reference price 2 | 2.792 | 3.883 | 5.483 | 5.125 | 4.790 | 6.120 |
| Announcement Date | 4/19/19 | 4/24/20 | 4/26/21 | 3/7/22 | 4/24/23 | 4/15/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 6,825 | 6,458 | 6,809 | 7,339 | 8,440 | 9,601 |
| EBITDA 1 | 482.4 | 611.1 | 988 | 570 | 780 | 1,382 |
| EBIT 1 | 180.3 | 317.6 | 738.6 | 296.8 | 397.2 | 960.7 |
| Operating Margin | 2.64% | 4.92% | 10.85% | 4.04% | 4.71% | 10.01% |
| Earnings before Tax (EBT) 1 | 106.6 | 150.3 | 1,328 | 389.7 | 435.2 | 934.6 |
| Net income 1 | 88.17 | 135.4 | 1,138 | 369.7 | 428.8 | 832.7 |
| Net margin | 1.29% | 2.1% | 16.72% | 5.04% | 5.08% | 8.67% |
| EPS 2 | 0.0917 | 0.1417 | 1.192 | 0.3250 | 0.3300 | 0.5600 |
| Free Cash Flow 1 | 584.6 | 233.2 | 884.8 | -1,082 | -1,457 | 140.9 |
| FCF margin | 8.56% | 3.61% | 12.99% | -14.75% | -17.26% | 1.47% |
| FCF Conversion (EBITDA) | 121.17% | 38.15% | 89.55% | - | - | 10.2% |
| FCF Conversion (Net income) | 662.97% | 172.14% | 77.72% | - | - | 16.93% |
| Dividend per Share | - | 0.0333 | 0.1250 | 0.0833 | 0.2000 | 0.2000 |
| Announcement Date | 4/19/19 | 4/24/20 | 4/26/21 | 3/7/22 | 4/24/23 | 4/15/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 1,932 | 1,235 | 465 | 291 | 1,581 | 1,603 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.004 x | 2.021 x | 0.4706 x | 0.51 x | 2.027 x | 1.16 x |
| Free Cash Flow 1 | 585 | 233 | 885 | -1,082 | -1,457 | 141 |
| ROE (net income / shareholders' equity) | 2.61% | 3.79% | 26.5% | 6.83% | 6.95% | 12.3% |
| ROA (Net income/ Total Assets) | 1.12% | 1.89% | 4.19% | 1.52% | 1.73% | 3.59% |
| Assets 1 | 7,903 | 7,166 | 27,176 | 24,310 | 24,731 | 23,185 |
| Book Value Per Share 2 | 3.660 | 3.990 | 5.090 | 5.160 | 5.670 | 4.850 |
| Cash Flow per Share 2 | 1.820 | 2.330 | 1.990 | 1.840 | 2.940 | 2.350 |
| Capex 1 | 308 | 407 | 835 | 1,197 | 1,028 | 1,738 |
| Capex / Sales | 4.51% | 6.3% | 12.27% | 16.31% | 12.19% | 18.1% |
| Announcement Date | 4/19/19 | 4/24/20 | 4/26/21 | 3/7/22 | 4/24/23 | 4/15/24 |
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. | |
|---|---|---|
| +3.59% | 1.28B | |
| +21.41% | 6.39B | |
| -7.58% | 5.5B | |
| +24.89% | 5.03B | |
| +2.23% | 4.56B | |
| +17.11% | 4.55B | |
| +8.45% | 3.75B | |
| +25.05% | 3.65B | |
| +43.04% | 3.08B | |
| +27.13% | 2.02B |
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