Financials Huida Sanitary Ware Co.,Ltd

Equities

603385

CNE100002FP8

Construction Supplies & Fixtures

End-of-day quote Shanghai S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
6.2 CNY +4.03% Intraday chart for Huida Sanitary Ware Co.,Ltd +5.62% -22.60%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,959 4,252 4,136 4,268 2,661 3,058
Enterprise Value (EV) 1 2,540 3,582 2,891 4,079 2,785 3,341
P/E ratio 12.3 x 12.9 x 13.1 x 17.9 x 21 x -15.7 x
Yield 2.87% 2% 2.23% 1.68% 1.46% -
Capitalization / Revenue 1.02 x 1.32 x 1.29 x 1.1 x 0.78 x 0.85 x
EV / Revenue 0.88 x 1.12 x 0.9 x 1.05 x 0.81 x 0.93 x
EV / EBITDA 8.37 x 7.41 x 6.28 x 10.7 x 11.1 x 10.3 x
EV / FCF -10.5 x -23.5 x 6.15 x -8.7 x 10.8 x 5.87 x
FCF Yield -9.55% -4.25% 16.3% -11.5% 9.23% 17%
Price to Book 0.94 x 1.26 x 1.12 x 1.11 x 0.68 x 0.86 x
Nbr of stocks (in thousands) 369,396 369,396 379,762 384,502 383,486 381,721
Reference price 2 8.010 11.51 10.89 11.10 6.940 8.010
Announcement Date 4/24/19 3/19/20 3/11/21 4/14/22 4/20/23 4/25/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,900 3,210 3,218 3,893 3,419 3,604
EBITDA 1 303.5 483.5 460.3 382.4 251.9 324.7
EBIT 1 207.1 369.7 334.7 232.8 79.59 145.1
Operating Margin 7.14% 11.52% 10.4% 5.98% 2.33% 4.03%
Earnings before Tax (EBT) 1 295.7 419.2 367.8 304 158.9 -175.9
Net income 1 238.8 329 307.4 235.3 128.4 -196.6
Net margin 8.24% 10.25% 9.55% 6.05% 3.75% -5.46%
EPS 2 0.6500 0.8900 0.8300 0.6200 0.3300 -0.5100
Free Cash Flow 1 -242.6 -152.2 470.1 -469.1 257.1 568.9
FCF margin -8.37% -4.74% 14.61% -12.05% 7.52% 15.79%
FCF Conversion (EBITDA) - - 102.13% - 102.06% 175.24%
FCF Conversion (Net income) - - 152.94% - 200.24% -
Dividend per Share 2 0.2300 0.2300 0.2430 0.1860 0.1010 -
Announcement Date 4/24/19 3/19/20 3/11/21 4/14/22 4/20/23 4/25/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - 124 284
Net Cash position 1 419 670 1,245 189 - -
Leverage (Debt/EBITDA) - - - - 0.4923 x 0.8733 x
Free Cash Flow 1 -243 -152 470 -469 257 569
ROE (net income / shareholders' equity) 8.03% 10.1% 8.58% 6.02% 3% -5.05%
ROA (Net income/ Total Assets) 3.05% 5.03% 4.01% 2.43% 0.81% 1.53%
Assets 1 7,829 6,538 7,657 9,690 15,888 -12,824
Book Value Per Share 2 8.520 9.160 9.720 10.00 10.20 9.260
Cash Flow per Share 2 0.5100 0.4100 1.710 1.130 0.6800 0.5400
Capex 1 263 306 259 284 92.1 39.9
Capex / Sales 9.09% 9.53% 8.04% 7.29% 2.69% 1.11%
Announcement Date 4/24/19 3/19/20 3/11/21 4/14/22 4/20/23 4/25/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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