Financials Kangmei Pharmaceutical Co., Ltd.

Equities

600518

CNE0000017M1

Pharmaceuticals

End-of-day quote Shanghai S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
2.03 CNY +1.50% Intraday chart for Kangmei Pharmaceutical Co., Ltd. +6.84% +9.14%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 45,809 18,553 13,330 42,839 30,501 25,787
Enterprise Value (EV) 1 79,760 50,466 43,843 40,626 29,257 24,985
P/E ratio 50.3 x -3.77 x -0.48 x 5.42 x -11.6 x 186 x
Yield 0.26% - - - - -
Capitalization / Revenue 2.37 x 1.62 x 2.46 x 10.3 x 7.3 x 5.29 x
EV / Revenue 4.12 x 4.41 x 8.1 x 9.78 x 7 x 5.13 x
EV / EBITDA 22.4 x -48.8 x -1.92 x -16.2 x -39.7 x 50.9 x
EV / FCF -12 x 11 x 4.03 x -6.74 x 250 x -89.9 x
FCF Yield -8.34% 9.08% 24.8% -14.8% 0.4% -1.11%
Price to Book 1.82 x 1.06 x -1.31 x 4.32 x 4.39 x 3.66 x
Nbr of stocks (in thousands) 4,973,862 4,973,862 4,973,862 13,863,867 13,863,867 13,863,867
Reference price 2 9.210 3.730 2.680 3.090 2.200 1.860
Announcement Date 4/30/19 6/17/20 4/28/21 4/28/22 4/28/23 4/12/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 19,356 11,446 5,411 4,153 4,180 4,874
EBITDA 1 3,553 -1,033 -22,851 -2,512 -736.3 491
EBIT 1 3,056 -1,704 -23,456 -3,046 -1,040 205.4
Operating Margin 15.79% -14.89% -433.45% -73.37% -24.89% 4.21%
Earnings before Tax (EBT) 1 1,362 -4,391 -27,685 8,155 -2,664 110.4
Net income 1 1,135 -4,661 -27,736 7,918 -2,689 102.5
Net margin 5.86% -40.72% -512.54% 190.68% -64.32% 2.1%
EPS 2 0.1830 -0.9896 -5.616 0.5700 -0.1900 0.0100
Free Cash Flow 1 -6,648 4,585 10,876 -6,029 117.2 -278
FCF margin -34.35% 40.06% 200.98% -145.2% 2.8% -5.7%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.0240 - - - - -
Announcement Date 4/30/19 6/17/20 4/28/21 4/28/22 4/28/23 4/12/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 33,951 31,913 30,513 - - -
Net Cash position 1 - - - 2,214 1,244 802
Leverage (Debt/EBITDA) 9.555 x -30.88 x -1.335 x - - -
Free Cash Flow 1 -6,648 4,585 10,876 -6,029 117 -278
ROE (net income / shareholders' equity) 3.95% -19.9% -408% -3,591% -31.8% 1.47%
ROA (Net income/ Total Assets) 2.73% -1.55% -29.1% -7.71% -4.17% 0.87%
Assets 1 41,584 301,311 95,352 -102,673 64,438 11,762
Book Value Per Share 2 5.070 3.530 -2.040 0.7200 0.5000 0.5100
Cash Flow per Share 2 0.3700 0.1000 0.1100 0.1700 0.1100 0.0800
Capex 1 4,593 473 302 172 48.1 99.7
Capex / Sales 23.73% 4.13% 5.58% 4.13% 1.15% 2.05%
Announcement Date 4/30/19 6/17/20 4/28/21 4/28/22 4/28/23 4/12/24
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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