TIELIU CO,.LTD |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 9.46 CNY | +0.75% |
|
-2.67% | -24.38% |
| Apr. 26 | Tieliu Co,.Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 24 | Tieliu Co,.Ltd Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,709 | 1,916 | 1,860 | 2,876 | 2,080 | 2,871 |
| Enterprise Value (EV) 1 | 1,407 | 1,709 | 1,609 | 2,581 | 1,765 | 2,447 |
| P/E ratio | 20 x | 15.5 x | 11.4 x | 15.2 x | 25.2 x | 29.1 x |
| Yield | 1.81% | 2.51% | 4.31% | 1.04% | 1.21% | 3.04% |
| Capitalization / Revenue | 1.77 x | 1.31 x | 1.23 x | 1.53 x | 0.99 x | 1.31 x |
| EV / Revenue | 1.46 x | 1.17 x | 1.07 x | 1.37 x | 0.84 x | 1.11 x |
| EV / EBITDA | 12.8 x | 9.39 x | 6.83 x | 9.7 x | 13.5 x | 15.3 x |
| EV / FCF | -39.6 x | 3.22 x | -115 x | -30.2 x | -90.9 x | 22.4 x |
| FCF Yield | -2.53% | 31.1% | -0.87% | -3.31% | -1.1% | 4.46% |
| Price to Book | 1.53 x | 1.69 x | 1.47 x | 1.88 x | 1.31 x | 1.72 x |
| Nbr of stocks (in thousands) | 208,952 | 208,473 | 208,276 | 229,533 | 229,533 | 229,533 |
| Reference price 2 | 8.178 | 9.192 | 8.931 | 12.53 | 9.060 | 12.51 |
| Announcement Date | 4/25/19 | 4/23/20 | 4/6/21 | 4/25/22 | 4/24/23 | 4/24/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 966.1 | 1,461 | 1,508 | 1,879 | 2,096 | 2,200 |
| EBITDA 1 | 109.8 | 181.9 | 235.8 | 266 | 131 | 159.5 |
| EBIT 1 | 72.4 | 113.8 | 168 | 189.5 | 51.65 | 72.3 |
| Operating Margin | 7.49% | 7.79% | 11.14% | 10.09% | 2.46% | 3.29% |
| Earnings before Tax (EBT) 1 | 96.75 | 131 | 197.4 | 193.5 | 83.33 | 103.2 |
| Net income 1 | 83.4 | 121.1 | 161.4 | 176.5 | 83.72 | 98.29 |
| Net margin | 8.63% | 8.29% | 10.7% | 9.4% | 3.99% | 4.47% |
| EPS 2 | 0.4083 | 0.5923 | 0.7846 | 0.8231 | 0.3600 | 0.4300 |
| Free Cash Flow 1 | -35.55 | 531.2 | -13.98 | -85.33 | -19.43 | 109.1 |
| FCF margin | -3.68% | 36.37% | -0.93% | -4.54% | -0.93% | 4.96% |
| FCF Conversion (EBITDA) | - | 292.01% | - | - | - | 68.38% |
| FCF Conversion (Net income) | - | 438.69% | - | - | - | 110.99% |
| Dividend per Share 2 | 0.1479 | 0.2308 | 0.3846 | 0.1308 | 0.1100 | 0.3800 |
| Announcement Date | 4/25/19 | 4/23/20 | 4/6/21 | 4/25/22 | 4/24/23 | 4/24/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 302 | 208 | 251 | 295 | 314 | 425 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | -35.5 | 531 | -14 | -85.3 | -19.4 | 109 |
| ROE (net income / shareholders' equity) | 7.23% | 10.3% | 13.3% | 12.3% | 5.18% | 5.84% |
| ROA (Net income/ Total Assets) | 2.94% | 3.48% | 4.91% | 4.82% | 1.22% | 1.67% |
| Assets 1 | 2,833 | 3,477 | 3,283 | 3,663 | 6,873 | 5,885 |
| Book Value Per Share 2 | 5.360 | 5.440 | 6.080 | 6.660 | 6.910 | 7.260 |
| Cash Flow per Share 2 | 0.9000 | 1.440 | 2.550 | 2.330 | 2.390 | 2.800 |
| Capex 1 | 65.6 | 112 | 115 | 107 | 166 | 128 |
| Capex / Sales | 6.79% | 7.69% | 7.6% | 5.69% | 7.94% | 5.82% |
| Announcement Date | 4/25/19 | 4/23/20 | 4/6/21 | 4/25/22 | 4/24/23 | 4/24/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -24.38% | 300M | |
| -4.00% | 3.74B | |
| -27.54% | 3B | |
| +154.60% | 2.48B | |
| -4.65% | 2.48B | |
| +45.70% | 2.38B | |
| -31.28% | 1.93B | |
| -18.26% | 1.29B | |
| -19.38% | 1.17B | |
| -22.42% | 1.05B |
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