Financials Nantong Acetic Acid Chemical Co., Ltd.

Equities

603968

CNE1000025Q3

Specialty Chemicals

End-of-day quote Shanghai S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
12.02 CNY -4.15% Intraday chart for Nantong Acetic Acid Chemical Co., Ltd. -2.91% -15.41%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,585 3,018 3,417 3,822 4,443 2,974
Enterprise Value (EV) 1 1,997 2,305 2,593 3,118 3,637 2,282
P/E ratio 12.9 x 13.7 x 13.8 x 22 x 11.1 x 92.2 x
Yield 3.96% 3.39% 2.99% 2.68% 3.68% 1.97%
Capitalization / Revenue 1.27 x 1.34 x 1.41 x 1.27 x 1.24 x 0.99 x
EV / Revenue 0.98 x 1.02 x 1.07 x 1.04 x 1.01 x 0.76 x
EV / EBITDA 6.82 x 7.12 x 6.93 x 12.7 x 7.3 x 17.4 x
EV / FCF 12.5 x 13.6 x 14.4 x -1,058 x 23 x 14 x
FCF Yield 7.97% 7.33% 6.94% -0.09% 4.35% 7.15%
Price to Book 1.79 x 1.92 x 2.01 x 2.14 x 2.12 x 1.49 x
Nbr of stocks (in thousands) 204,480 204,480 204,480 204,480 204,480 209,315
Reference price 2 12.64 14.76 16.71 18.69 21.73 14.21
Announcement Date 4/17/19 4/17/20 4/28/21 4/19/22 4/17/23 4/24/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,028 2,258 2,424 2,999 3,590 3,008
EBITDA 1 293 323.8 374.4 244.9 497.9 131.3
EBIT 1 209.7 241.3 295.1 169.6 436.6 33
Operating Margin 10.34% 10.69% 12.17% 5.65% 12.16% 1.1%
Earnings before Tax (EBT) 1 234 259.5 295.4 201.7 468.6 49.71
Net income 1 200.9 221 247.6 174.1 401.5 32.7
Net margin 9.9% 9.79% 10.21% 5.8% 11.18% 1.09%
EPS 2 0.9800 1.080 1.210 0.8512 1.964 0.1541
Free Cash Flow 1 159.3 168.9 179.9 -2.946 158.2 163.1
FCF margin 7.85% 7.48% 7.42% -0.1% 4.41% 5.42%
FCF Conversion (EBITDA) 54.36% 52.16% 48.05% - 31.77% 124.22%
FCF Conversion (Net income) 79.3% 76.43% 72.66% - 39.4% 498.74%
Dividend per Share 2 0.5000 0.5000 0.5000 0.5000 0.8000 0.2800
Announcement Date 4/17/19 4/17/20 4/28/21 4/19/22 4/17/23 4/24/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 587 713 824 703 807 692
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 159 169 180 -2.95 158 163
ROE (net income / shareholders' equity) 14.5% 14.6% 15.1% 9.97% 20.7% 1.64%
ROA (Net income/ Total Assets) 6.94% 7.44% 8.23% 4.09% 9.16% 0.61%
Assets 1 2,894 2,972 3,010 4,252 4,381 5,326
Book Value Per Share 2 7.070 7.700 8.330 8.750 10.20 9.530
Cash Flow per Share 2 2.500 2.530 4.380 1.380 4.050 4.280
Capex 1 19.2 46.9 93.1 191 101 45.2
Capex / Sales 0.95% 2.08% 3.84% 6.38% 2.81% 1.5%
Announcement Date 4/17/19 4/17/20 4/28/21 4/19/22 4/17/23 4/24/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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