Financials Sinopec Kantons Holdings Limited

Equities

934

BMG8165U1009

Oil & Gas Transportation Services

Delayed Hong Kong S.E. 01:51:06 2024-04-30 am EDT 5-day change 1st Jan Change
3.97 HKD +2.32% Intraday chart for Sinopec Kantons Holdings Limited +3.39% +18.15%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 8,627 8,155 6,713 7,608 7,334 8,353
Enterprise Value (EV) 1 11,980 10,468 2,960 3,433 1,879 2,572
P/E ratio 6.84 x 6.35 x 2.92 x 7.24 x 16.9 x 6.43 x
Yield 4.32% 6.1% 7.41% 6.54% 6.78% 7.44%
Capitalization / Revenue 5.21 x 5.63 x 11.2 x 12 x 11.9 x 13.7 x
EV / Revenue 7.24 x 7.23 x 4.92 x 5.39 x 3.05 x 4.22 x
EV / EBITDA 11.8 x 11.8 x 7.11 x 11.7 x 7.42 x 9.84 x
EV / FCF 14.8 x 16.4 x 10.5 x -4.03 x 1.51 x -13.6 x
FCF Yield 6.75% 6.09% 9.5% -24.8% 66.2% -7.35%
Price to Book 0.74 x 0.67 x 0.46 x 0.5 x 0.49 x 0.54 x
Nbr of stocks (in thousands) 2,486,160 2,486,160 2,486,160 2,486,160 2,486,160 2,486,160
Reference price 2 3.470 3.280 2.700 3.060 2.950 3.360
Announcement Date 4/3/19 4/8/20 3/31/21 4/4/22 4/14/23 4/12/24
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,656 1,447 601.2 636.5 616.1 609.9
EBITDA 1 1,013 884.7 416.2 294 253.2 261.4
EBIT 1 590.8 493.1 104.9 153.7 138.8 127.6
Operating Margin 35.69% 34.07% 17.45% 24.15% 22.53% 20.92%
Earnings before Tax (EBT) 1 1,488 1,494 1,387 1,157 609.7 1,401
Net income 1 1,262 1,285 2,302 1,050 434.9 1,299
Net margin 76.23% 88.79% 382.89% 165.02% 70.59% 212.93%
EPS 2 0.5076 0.5169 0.9260 0.4225 0.1749 0.5223
Free Cash Flow 1 808.7 637.4 281.2 -851.6 1,245 -189.2
FCF margin 48.84% 44.04% 46.77% -133.79% 202.01% -31.02%
FCF Conversion (EBITDA) 79.87% 72.05% 67.57% - 491.58% -
FCF Conversion (Net income) 64.07% 49.6% 12.22% - 286.18% -
Dividend per Share 2 0.1500 0.2000 0.2000 0.2000 0.2000 0.2500
Announcement Date 4/3/19 4/8/20 3/31/21 4/4/22 4/14/23 4/12/24
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,353 2,314 - - - -
Net Cash position 1 - - 3,753 4,175 5,455 5,781
Leverage (Debt/EBITDA) 3.311 x 2.615 x - - - -
Free Cash Flow 1 809 637 281 -852 1,245 -189
ROE (net income / shareholders' equity) 10.9% 10.7% 9.41% 6.97% 2.66% 8.55%
ROA (Net income/ Total Assets) 2.23% 1.94% 0.41% 0.6% 0.56% 0.51%
Assets 1 56,712 66,291 556,735 174,224 78,230 255,582
Book Value Per Share 2 4.690 4.900 5.900 6.180 5.980 6.240
Cash Flow per Share 2 0.1300 0.0900 1.520 1.690 1.000 0.7400
Capex 1 16.8 68.5 223 42.2 5.49 78.7
Capex / Sales 1.01% 4.73% 37.15% 6.63% 0.89% 12.9%
Announcement Date 4/3/19 4/8/20 3/31/21 4/4/22 4/14/23 4/12/24
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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