Stock 600406 NARI TECHNOLOGY CO., LTD.
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Financials NARI Technology Co., Ltd.

Equities

600406

CNE000001G38

IT Services & Consulting

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
23.54 CNY -0.47% Intraday chart for NARI Technology Co., Ltd. -7.97% +5.47%
Apr. 25 NARI Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 25 NARI Technology Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 97,896 122,799 221,984 163,354 179,297 189,093 - -
Enterprise Value (EV) 1 91,686 113,049 210,828 149,926 163,106 168,604 165,813 164,462
P/E ratio 22.5 x 25.1 x 39.2 x 25.2 x 24.8 x 22.8 x 19.9 x 18 x
Yield 1.37% 1.58% 1.02% 1.6% 2.42% 2.06% 2.38% 3.34%
Capitalization / Revenue 3.02 x 3.19 x 5.23 x 3.49 x 3.48 x 3.29 x 2.85 x 2.62 x
EV / Revenue 2.83 x 2.94 x 4.97 x 3.2 x 3.16 x 2.93 x 2.5 x 2.28 x
EV / EBITDA 15.2 x 16.1 x 25.9 x 16.2 x 15.9 x 16.2 x 13.6 x 11.4 x
EV / FCF 52.1 x - 79.2 x 28 x 17.2 x 40.4 x 21.6 x 26.5 x
FCF Yield 1.92% - 1.26% 3.57% 5.82% 2.47% 4.62% 3.78%
Price to Book 3.21 x 3.6 x 5.84 x 3.85 x 3.8 x 3.6 x 3.2 x 2.84 x
Nbr of stocks (in thousands) 7,987,015 7,986,359 7,985,429 8,033,819 8,033,033 8,032,824 - -
Reference price 2 12.26 15.38 27.80 20.33 22.32 23.54 23.54 23.54
Announcement Date 4/29/20 4/22/21 4/28/22 4/27/23 4/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 32,424 38,502 42,411 46,829 51,573 57,482 66,311 72,135
EBITDA 1 6,041 7,009 8,136 9,230 10,242 10,432 12,222 14,396
EBIT 1 5,253 5,874 6,843 7,852 8,575 9,309 10,988 12,246
Operating Margin 16.2% 15.26% 16.14% 16.77% 16.63% 16.19% 16.57% 16.98%
Earnings before Tax (EBT) 1 5,280 5,934 6,866 7,885 8,600 9,884 11,462 12,645
Net income 1 4,343 4,852 5,642 6,446 7,184 8,290 9,500 10,519
Net margin 13.39% 12.6% 13.3% 13.77% 13.93% 14.42% 14.33% 14.58%
EPS 2 0.5440 0.6134 0.7083 0.8083 0.9000 1.035 1.184 1.310
Free Cash Flow 1 1,760 - 2,662 5,346 9,495 4,170 7,659 6,210
FCF margin 5.43% - 6.28% 11.42% 18.41% 7.25% 11.55% 8.61%
FCF Conversion (EBITDA) 29.13% - 32.71% 57.92% 92.7% 39.98% 62.67% 43.13%
FCF Conversion (Net income) 40.51% - 47.17% 82.94% 132.17% 50.3% 80.62% 59.03%
Dividend per Share 2 0.1678 0.2431 0.2847 0.3250 0.5400 0.4844 0.5614 0.7860
Announcement Date 4/29/20 4/22/21 4/28/22 4/27/23 4/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 19,179 - - 16,323 9,294 21,213 - 6,195 12,055 10,317 23,006 7,699 13,452 11,830 27,002 - -
EBITDA - - - - - - - - - - - - - - - - -
EBIT 2,892 - - - 1,898 3,286 - 627.2 2,421 2,040 3,486 - - - - - -
Operating Margin 15.08% - - - 20.43% 15.49% - 10.12% 20.08% 19.77% 15.15% - - - - - -
Earnings before Tax (EBT) 2,899 - - - - 3,286 - - 2,424 2,041 3,494 - - - - - -
Net income 2,450 379.1 - - - 2,791 4,336 525.7 1,974 1,661 3,023 - - - - - -
Net margin 12.77% - - - - 13.16% - 8.49% 16.37% 16.1% 13.14% - - - - - -
EPS 2 0.3125 0.0486 0.2083 - 0.1917 0.3500 - 0.0667 0.2433 0.2100 0.3800 0.0700 0.2600 0.2300 0.4100 - -
Dividend per Share 2 0.2847 - - - - 0.3250 - - - - - - - - 0.4353 - -
Announcement Date 4/28/22 4/28/22 8/30/22 8/30/22 10/28/22 4/27/23 4/27/23 4/27/23 8/30/23 10/30/23 4/25/24 4/25/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 6,210 9,750 11,156 13,428 16,192 20,488 23,280 24,630
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,760 - 2,662 5,346 9,495 4,170 7,659 6,210
ROE (net income / shareholders' equity) 14.8% 15.1% 15.7% 16.1% 16.1% 16.1% 16.7% 16.8%
ROA (Net income/ Total Assets) 7.91% 7.86% 8.14% 8.63% - 9.1% 9.31% 10%
Assets 1 54,885 61,693 69,347 74,699 - 91,140 102,006 104,679
Book Value Per Share 2 3.820 4.280 4.760 5.290 5.870 6.540 7.350 8.290
Cash Flow per Share 2 0.5900 0.7100 0.5800 1.090 1.420 1.150 1.380 1.840
Capex 1 2,925 3,462 2,009 3,414 1,949 2,351 2,695 2,991
Capex / Sales 9.02% 8.99% 4.74% 7.29% 3.78% 4.09% 4.06% 4.15%
Announcement Date 4/29/20 4/22/21 4/28/22 4/27/23 4/25/24 - - -
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

Ratings for NARI Technology Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
23.54 CNY
Average target price
27.22 CNY
Spread / Average Target
+15.61%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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