NETDRAGON WEBSOFT HOLDINGS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 10.92 HKD | +0.92% |
|
+4.00% | -11.79% |
| Mar. 29 | Netdragon Websoft Holdings' Net Profit Declines 34% in 2023 | MT |
| Mar. 28 | Transcript : NetDragon Websoft Holdings Limited, 2023 Earnings Call, Mar 28, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 8,666 | 8,121 | 8,099 | 7,983 | 5,978 | 5,370 | - | - |
| Enterprise Value (EV) 1 | 8,666 | 5,478 | 5,870 | 6,354 | 5,978 | 4,387 | 3,519 | 2,399 |
| P/E ratio | 10.8 x | 8.56 x | 7.79 x | 9.6 x | 10.9 x | 5.54 x | 4.74 x | 4.25 x |
| Yield | 1.4% | 2.88% | 4.36% | - | - | 6.75% | 7.23% | 6.41% |
| Capitalization / Revenue | 1.5 x | 1.32 x | 1.15 x | 1.01 x | 0.84 x | 0.72 x | 0.65 x | 0.64 x |
| EV / Revenue | 1.5 x | 0.89 x | 0.83 x | 0.81 x | 0.84 x | 0.59 x | 0.43 x | 0.28 x |
| EV / EBITDA | 6.96 x | 3.38 x | 3.21 x | 4.24 x | 4.6 x | 2.51 x | 1.99 x | 1.1 x |
| EV / FCF | 11.7 x | 5.41 x | 6.65 x | 8.19 x | - | 4.16 x | 2.93 x | 1.65 x |
| FCF Yield | 8.53% | 18.5% | 15% | 12.2% | - | 24% | 34.2% | 60.5% |
| Price to Book | 1.55 x | 1.2 x | 1.13 x | - | - | 0.91 x | 0.68 x | 0.68 x |
| Nbr of stocks (in thousands) | 529,345 | 555,160 | 542,566 | 539,344 | 531,263 | 531,263 | - | - |
| Reference price 2 | 16.37 | 14.63 | 14.93 | 14.80 | 11.25 | 10.11 | 10.11 | 10.11 |
| Announcement Date | 3/31/20 | 3/25/21 | 3/29/22 | 3/27/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,793 | 6,138 | 7,035 | 7,866 | 7,101 | 7,417 | 8,280 | 8,456 |
| EBITDA 1 | 1,245 | 1,622 | 1,829 | 1,500 | 1,300 | 1,748 | 1,772 | 2,172 |
| EBIT 1 | 778.2 | 1,088 | 1,385 | 1,150 | 821 | 1,375 | 1,591 | 1,878 |
| Operating Margin | 13.43% | 17.72% | 19.69% | 14.62% | 11.56% | 18.54% | 19.21% | 22.2% |
| Earnings before Tax (EBT) 1 | 866.3 | 1,073 | 1,236 | 840 | 635 | 1,154 | 1,334 | 1,563 |
| Net income 1 | 807.2 | 953.5 | 1,062 | 834 | 550 | 971 | 1,134 | 1,270 |
| Net margin | 13.93% | 15.54% | 15.1% | 10.6% | 7.75% | 13.09% | 13.7% | 15.01% |
| EPS 2 | 1.522 | 1.710 | 1.916 | 1.541 | 1.030 | 1.824 | 2.133 | 2.380 |
| Free Cash Flow 1 | 739.3 | 1,012 | 882.8 | 776 | - | 1,055 | 1,203 | 1,451 |
| FCF margin | 12.76% | 16.49% | 12.55% | 9.87% | - | 14.22% | 14.53% | 17.16% |
| FCF Conversion (EBITDA) | 59.37% | 62.43% | 48.26% | 51.73% | - | 60.37% | 67.89% | 66.82% |
| FCF Conversion (Net income) | 91.59% | 106.17% | 83.12% | 93.05% | - | 108.65% | 106.05% | 114.3% |
| Dividend per Share 2 | 0.2284 | 0.4213 | 0.6503 | - | - | 0.6820 | 0.7310 | 0.6480 |
| Announcement Date | 3/31/20 | 3/25/21 | 3/29/22 | 3/27/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,121 | 2,823 | 3,315 | - | 3,626 | - | 3,420 |
| EBITDA | - | - | - | - | - | - | - |
| EBIT 1 | 297.8 | 434.4 | 653.1 | - | 405.4 | - | 122 |
| Operating Margin | 9.54% | 15.39% | 19.7% | - | 11.18% | - | 3.57% |
| Earnings before Tax (EBT) 1 | 382.2 | 370.5 | 702.9 | - | 260.4 | - | 56 |
| Net income 1 | 386.2 | 336.5 | 617 | 565.1 | 268.9 | - | 50 |
| Net margin | 12.38% | 11.92% | 18.61% | - | 7.42% | - | 1.46% |
| EPS | 0.7265 | 0.6084 | 1.101 | 1.044 | - | 0.9261 | - |
| Dividend per Share | - | - | - | - | - | - | - |
| Announcement Date | 3/31/20 | 8/27/20 | 3/25/21 | 8/30/22 | 3/27/23 | 8/30/23 | 3/27/24 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | - | 2,643 | 2,229 | 1,629 | - | 983 | 1,851 | 2,971 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 739 | 1,012 | 883 | 776 | - | 1,055 | 1,203 | 1,451 |
| ROE (net income / shareholders' equity) | 15.3% | 15.4% | 15% | 11.7% | - | 16.3% | 15% | 16.2% |
| ROA (Net income/ Total Assets) | 11.1% | 10.7% | 10.2% | 7.61% | - | 9.84% | 9.59% | 10.7% |
| Assets 1 | 7,251 | 8,875 | 10,439 | 10,958 | - | 9,868 | 11,824 | 11,920 |
| Book Value Per Share 2 | 10.60 | 12.20 | 13.20 | - | - | 11.20 | 14.80 | 14.90 |
| Cash Flow per Share 2 | 2.220 | 2.380 | - | - | - | 2.920 | 3.320 | 3.920 |
| Capex 1 | 437 | 317 | 431 | 294 | - | 436 | 441 | 447 |
| Capex / Sales | 7.54% | 5.17% | 6.12% | 3.74% | - | 5.88% | 5.33% | 5.28% |
| Announcement Date | 3/31/20 | 3/25/21 | 3/29/22 | 3/27/23 | 3/27/24 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
10.11
CNY
Average target price
14.94
CNY
Spread / Average Target
+47.77%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -11.79% | 741M | |
| +3.04% | 61.86B | |
| -3.35% | 13.24B | |
| +18.54% | 7.71B | |
| +6.47% | 6.68B | |
| -11.96% | 5.04B | |
| +13.19% | 4.37B | |
| -20.74% | 4.15B | |
| -8.26% | 3.17B | |
| +1.53% | 2.97B |
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