TIBET DEVELOPMENT CO., LTD. |
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|
5-day change | 1st Jan Change | ||
| 6.29 CNY | -0.94% |
|
+1.13% | -10.91% |
| Apr. 26 | Tibet Development Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Feb. 07 | Carlsberg Disputes Management of Lhasa Beer JV with Tibet Development | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,859 | 1,200 | 1,008 | 1,374 | 1,071 | 1,862 |
| Enterprise Value (EV) 1 | 1,920 | 1,234 | 1,451 | 1,794 | 1,451 | 1,628 |
| P/E ratio | -4.51 x | -3.6 x | 76.4 x | -104 x | -16.2 x | -72.3 x |
| Yield | - | - | - | - | - | - |
| Capitalization / Revenue | 5.75 x | 3.77 x | 2.49 x | 3.5 x | 3.87 x | 5.53 x |
| EV / Revenue | 5.94 x | 3.88 x | 3.58 x | 4.57 x | 5.24 x | 4.83 x |
| EV / EBITDA | -8.1 x | 19.9 x | 17.5 x | 25.8 x | 56.6 x | 23.6 x |
| EV / FCF | -5.58 x | 88.4 x | -3.39 x | 170 x | 16.1 x | 4.17 x |
| FCF Yield | -17.9% | 1.13% | -29.5% | 0.59% | 6.21% | 24% |
| Price to Book | 4.97 x | 33.8 x | 20.3 x | 39.1 x | -34.8 x | 16.7 x |
| Nbr of stocks (in thousands) | 263,758 | 263,758 | 263,758 | 263,758 | 263,758 | 263,758 |
| Reference price 2 | 7.050 | 4.550 | 3.820 | 5.210 | 4.060 | 7.060 |
| Announcement Date | 4/29/19 | 4/28/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 323.1 | 318.4 | 405.3 | 392.8 | 276.9 | 336.9 |
| EBITDA 1 | -237 | 62.14 | 82.73 | 69.51 | 25.65 | 68.9 |
| EBIT 1 | -257.5 | 43.58 | 67.78 | 56.18 | 10.9 | 50.69 |
| Operating Margin | -79.7% | 13.69% | 16.72% | 14.3% | 3.93% | 15.05% |
| Earnings before Tax (EBT) 1 | -377.3 | -299.1 | 51.15 | 13.53 | -78.46 | 25.8 |
| Net income 1 | -412 | -333.4 | 14.05 | -14.37 | -65.97 | -25.77 |
| Net margin | -127.5% | -104.73% | 3.47% | -3.66% | -23.82% | -7.65% |
| EPS 2 | -1.562 | -1.264 | 0.0500 | -0.0500 | -0.2500 | -0.0977 |
| Free Cash Flow 1 | -344.2 | 13.96 | -427.4 | 10.56 | 90.06 | 390.1 |
| FCF margin | -106.53% | 4.39% | -105.45% | 2.69% | 32.52% | 115.81% |
| FCF Conversion (EBITDA) | - | 22.47% | - | 15.2% | 351.18% | 566.26% |
| FCF Conversion (Net income) | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - |
| Announcement Date | 4/29/19 | 4/28/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 61 | 34.2 | 444 | 420 | 380 | - |
| Net Cash position 1 | - | - | - | - | - | 234 |
| Leverage (Debt/EBITDA) | -0.2572 x | 0.55 x | 5.362 x | 6.041 x | 14.82 x | - |
| Free Cash Flow 1 | -344 | 14 | -427 | 10.6 | 90.1 | 390 |
| ROE (net income / shareholders' equity) | -44.3% | -65.2% | 13.3% | 2.37% | -23.2% | 3.82% |
| ROA (Net income/ Total Assets) | -12.2% | 2.67% | 4.66% | 3.85% | 0.77% | 3.46% |
| Assets 1 | 3,366 | -12,475 | 301.7 | -373.5 | -8,539 | -745.3 |
| Book Value Per Share 2 | 1.420 | 0.1300 | 0.1900 | 0.1300 | -0.1200 | 0.4200 |
| Cash Flow per Share 2 | 1.270 | 1.260 | 0.1100 | 0.1100 | 0.3400 | 2.060 |
| Capex 1 | 11.3 | 2.19 | 0.46 | 0.07 | 28.7 | 63.7 |
| Capex / Sales | 3.49% | 0.69% | 0.11% | 0.02% | 10.38% | 18.9% |
| Announcement Date | 4/29/19 | 4/28/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -10.91% | 230M | |
| +6.33% | 137B | |
| +4.98% | 60.44B | |
| +5.66% | 46.73B | |
| -9.83% | 38.13B | |
| +16.89% | 19.8B | |
| -20.52% | 19.57B | |
| +12.84% | 19.31B | |
| +9.36% | 15.41B | |
| +22.14% | 13.69B |
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