SILVERY DRAGON PRESTRESSED MATERIALS CO.,LTD TIANJIN Financials Silvery Dragon Prestressed Materials Co.,LTD Tianjin
Equities
603969
CNE100002185
Iron & Steel
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.04 CNY | +5.41% |
|
+1.17% | +0.67% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 3,919 | 3,591 | 3,324 | 3,709 | 4,119 | 5,106 |
| Enterprise Value (EV) 1 | 3,792 | 3,338 | 3,336 | 3,604 | 3,792 | 5,271 |
| P/E ratio | 25.9 x | 21.4 x | 24.8 x | 24.6 x | 41 x | 30 x |
| Yield | 2.15% | 1.41% | 1.76% | - | 1.22% | 1.17% |
| Capitalization / Revenue | 1.68 x | 1.36 x | 1.3 x | 1.18 x | 1.67 x | 1.86 x |
| EV / Revenue | 1.62 x | 1.26 x | 1.3 x | 1.14 x | 1.54 x | 1.92 x |
| EV / EBITDA | 18.9 x | 13.1 x | 14 x | 13.9 x | 24 x | 22.3 x |
| EV / FCF | 33.7 x | 16.8 x | -15.4 x | 19.8 x | 17.8 x | -12.2 x |
| FCF Yield | 2.96% | 5.95% | -6.5% | 5.06% | 5.63% | -8.22% |
| Price to Book | 2.27 x | 1.98 x | 1.75 x | 1.86 x | 1.95 x | 2.23 x |
| Nbr of stocks (in thousands) | 841,000 | 841,000 | 837,250 | 837,250 | 837,250 | 851,014 |
| Reference price 2 | 4.660 | 4.270 | 3.970 | 4.430 | 4.920 | 6.000 |
| Announcement Date | 3/18/19 | 4/22/20 | 4/28/21 | 4/21/22 | 4/24/23 | 4/16/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 2,338 | 2,647 | 2,557 | 3,150 | 2,464 | 2,749 |
| EBITDA 1 | 200.9 | 255.2 | 238.4 | 259.2 | 157.8 | 236.9 |
| EBIT 1 | 168.8 | 213.3 | 186.3 | 206.6 | 113.4 | 200.9 |
| Operating Margin | 7.22% | 8.06% | 7.28% | 6.56% | 4.6% | 7.31% |
| Earnings before Tax (EBT) 1 | 188.9 | 206.8 | 169.1 | 183.4 | 125.6 | 209.1 |
| Net income 1 | 150.4 | 166.1 | 136.6 | 146.6 | 103.9 | 171.6 |
| Net margin | 6.44% | 6.28% | 5.34% | 4.66% | 4.22% | 6.24% |
| EPS 2 | 0.1800 | 0.2000 | 0.1600 | 0.1800 | 0.1200 | 0.2000 |
| Free Cash Flow 1 | 112.4 | 198.5 | -216.7 | 182.2 | 213.6 | -433.3 |
| FCF margin | 4.81% | 7.5% | -8.48% | 5.79% | 8.67% | -15.77% |
| FCF Conversion (EBITDA) | 55.96% | 77.79% | - | 70.31% | 135.32% | - |
| FCF Conversion (Net income) | 74.74% | 119.5% | - | 124.26% | 205.65% | - |
| Dividend per Share 2 | 0.1000 | 0.0600 | 0.0700 | - | 0.0600 | 0.0700 |
| Announcement Date | 3/18/19 | 4/22/20 | 4/28/21 | 4/21/22 | 4/24/23 | 4/16/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 11.8 | - | - | 165 |
| Net Cash position 1 | 127 | 253 | - | 105 | 328 | - |
| Leverage (Debt/EBITDA) | - | - | 0.0494 x | - | - | 0.6964 x |
| Free Cash Flow 1 | 112 | 199 | -217 | 182 | 214 | -433 |
| ROE (net income / shareholders' equity) | 8.99% | 9.81% | 7.55% | 7.9% | 4.95% | 8.28% |
| ROA (Net income/ Total Assets) | 4.37% | 4.59% | 3.99% | 4.45% | 2.24% | 3.8% |
| Assets 1 | 3,441 | 3,622 | 3,420 | 3,293 | 4,645 | 4,516 |
| Book Value Per Share 2 | 2.050 | 2.160 | 2.270 | 2.380 | 2.520 | 2.690 |
| Cash Flow per Share 2 | 0.3800 | 0.2600 | 0.3000 | 0.4200 | 0.3800 | 0.2700 |
| Capex 1 | 182 | 73.3 | 9.67 | 3.45 | 66.8 | 31.9 |
| Capex / Sales | 7.78% | 2.77% | 0.38% | 0.11% | 2.71% | 1.16% |
| Announcement Date | 3/18/19 | 4/22/20 | 4/28/21 | 4/21/22 | 4/24/23 | 4/16/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -4.50% | 674M | |
| -0.41% | 41.74B | |
| +20.14% | 24.92B | |
| -19.22% | 22.6B | |
| -4.42% | 21.45B | |
| +14.06% | 21.4B | |
| +7.52% | 20.92B | |
| +7.20% | 9.75B | |
| -14.23% | 8.37B | |
| +31.74% | 8.32B |
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