GUOTAI JUNAN SECURITIES CO., LTD. Financials Guotai Junan Securities Co., Ltd.
Equities
601211
CNE1000022F3
Investment Banking & Brokerage Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 13.76 CNY | -0.86% |
|
+2.69% | -7.53% |
| Apr. 29 | Guotai Junan Securities Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 26 | Chinese Financial Services Shares Gain on Consolidation Hopes | DJ |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 156,143 | 143,449 | 146,600 | 111,763 | 122,000 | 113,303 | - | - |
| Enterprise Value (EV) 1 | 232,055 | 244,911 | 319,827 | 262,176 | 122,000 | 268,170 | 113,303 | 113,303 |
| P/E ratio | 20.5 x | 14.6 x | 10.8 x | 11 x | 15.3 x | 12 x | 10.3 x | 9.97 x |
| Yield | 2.11% | 3.19% | 3.8% | 3.9% | 2.69% | 4.09% | 4.13% | 5.23% |
| Capitalization / Revenue | 4 x | 4.08 x | 3.42 x | 3.15 x | 3.38 x | 3.69 x | 2.83 x | 2.77 x |
| EV / Revenue | 5.94 x | 6.96 x | 7.47 x | 7.39 x | 3.38 x | 8.74 x | 2.83 x | 2.77 x |
| EV / EBITDA | 18,472,483 x | 15,593,445 x | - | - | 9,184,742 x | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 1.36 x | 1.14 x | 1.07 x | 0.77 x | 0.79 x | 0.71 x | 0.72 x | 0.68 x |
| Nbr of stocks (in thousands) | 8,907,948 | 8,819,448 | 8,819,450 | 8,819,450 | 8,844,446 | 8,844,446 | - | - |
| Reference price 2 | 18.49 | 17.53 | 17.89 | 13.59 | 14.88 | 13.76 | 13.76 | 13.76 |
| Announcement Date | 1/22/20 | 1/29/21 | 1/21/22 | 2/7/23 | 3/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 39,050 | 35,195 | 42,817 | 35,471 | 36,141 | 30,691 | 40,089 | 40,959 |
| EBITDA | 12,562 | 15,706 | - | - | 13,283 | - | - | - |
| EBIT 1 | 11,271 | 14,912 | 19,280 | 14,283 | 12,178 | 12,711 | 15,275 | 14,977 |
| Operating Margin | 28.86% | 42.37% | 45.03% | 40.27% | 33.69% | 41.41% | 38.1% | 36.57% |
| Earnings before Tax (EBT) 1 | 11,445 | 14,832 | 19,112 | 14,140 | 12,148 | 13,360 | 15,662 | 15,918 |
| Net income 1 | 8,637 | 11,102 | 15,013 | 11,507 | 9,374 | 10,405 | 11,941 | 12,210 |
| Net margin | 22.12% | 31.54% | 35.06% | 32.44% | 25.94% | 33.9% | 29.79% | 29.81% |
| EPS 2 | 0.9000 | 1.200 | 1.650 | 1.230 | 0.9700 | 1.145 | 1.333 | 1.380 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.3900 | 0.5600 | 0.6800 | 0.5300 | 0.4000 | 0.5623 | 0.5676 | 0.7190 |
| Announcement Date | 1/22/20 | 1/29/21 | 1/21/22 | 2/7/23 | 3/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 15,812 | 10,763 | 8,150 | 11,385 | 7,161 | 8,977 | 9,288 | 9,044 | 18,334 | 8,696 | 9,112 | 7,983 | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | 4,228 | 3,228 | 4,902 | 2,471 | 3,523 | 4,014 | 3,529 | - | 3,727 | - | - | 3,607 | 3,604 | 3,757 | 3,983 | 4,157 |
| Net income 1 | 5,454 | 3,378 | 2,519 | 3,854 | 2,055 | 3,079 | 3,041 | 2,701 | 5,742 | 2,886 | 746.7 | 2,489 | 2,891 | 2,559 | 2,839 | 3,034 | 3,208 |
| Net margin | 34.49% | 31.38% | 30.91% | 33.86% | 28.7% | 34.3% | 32.74% | 29.86% | 31.32% | 33.19% | 8.19% | 31.18% | - | - | - | - | - |
| EPS 2 | - | 0.3900 | 0.2700 | 0.4200 | 0.2100 | 0.3400 | 0.3200 | 0.2800 | - | 0.3000 | - | - | 0.3245 | 0.2874 | 0.3188 | 0.3406 | 0.3602 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/11/20 | 1/21/22 | 4/29/22 | 7/22/22 | 10/28/22 | 2/7/23 | 4/28/23 | 7/28/23 | 7/28/23 | 10/30/23 | 3/28/24 | 4/29/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 75,912 | 101,462 | 173,227 | 150,413 | - | 154,867 | - | - |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.043 x | 6.46 x | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 6.61% | 8.52% | 11.1% | 7.55% | 6.02% | 5.91% | 6.47% | 6.63% |
| ROA (Net income/ Total Assets) | 1.73% | 1.75% | 2.01% | 1.39% | 1.05% | 1.2% | 1.14% | 1.12% |
| Assets 1 | 499,251 | 633,018 | 747,125 | 825,951 | 893,031 | 865,628 | 1,050,514 | 1,095,036 |
| Book Value Per Share 2 | 13.60 | 15.40 | 16.70 | 17.70 | 18.80 | 19.50 | 19.20 | 20.40 |
| Cash Flow per Share 2 | - | - | 1.130 | - | 0.8100 | 1.500 | 2.300 | 2.700 |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 1/22/20 | 1/29/21 | 1/21/22 | 2/7/23 | 3/28/24 | - | - | - |
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
BUY
Number of Analysts
13
Last Close Price
13.76
CNY
Average target price
17.77
CNY
Spread / Average Target
+29.14%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.53% | 15.65B | |
| -7.05% | 28.46B | |
| +3.39% | 14.47B | |
| +38.87% | 12.33B | |
| -21.48% | 11.23B | |
| -4.02% | 9B | |
| -12.62% | 7.04B | |
| +8.34% | 5.99B | |
| -5.04% | 5.68B | |
| +16.17% | 4.57B |
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