Financials Zhejiang Crystal-Optech Co., Ltd

Equities

002273

CNE100000CT1

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
13.61 CNY +4.93% Intraday chart for Zhejiang Crystal-Optech Co., Ltd +3.50% +0.52%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 18,475 14,025 24,051 16,213 18,513 18,807 - -
Enterprise Value (EV) 1 18,475 14,025 24,051 13,816 16,230 16,283 15,521 18,807
P/E ratio 36.7 x 31.3 x 51.1 x 28.1 x 31.5 x 24.2 x 20.5 x 16.9 x
Yield 0.62% - - 1.7% 2.22% 2.2% 2.03% -
Capitalization / Revenue 6.16 x 4.35 x 6.31 x 3.71 x 3.65 x 3.01 x 2.46 x 2.11 x
EV / Revenue 6.16 x 4.35 x 6.31 x 3.16 x 3.2 x 2.6 x 2.03 x 2.11 x
EV / EBITDA 23.8 x 17.7 x 29.5 x 14.1 x 15 x 12.8 x 10.8 x 10.7 x
EV / FCF - -583 x -123 x -97.7 x 109 x 26.1 x 15.3 x -
FCF Yield - -0.17% -0.81% -1.02% 0.92% 3.83% 6.55% -
Price to Book 4.06 x 2.51 x 2.98 x 2.01 x 2.19 x 2.06 x 1.94 x 1.85 x
Nbr of stocks (in thousands) 1,143,277 1,210,074 1,383,018 1,375,150 1,367,268 1,381,843 - -
Reference price 2 16.16 11.59 17.39 11.79 13.54 13.61 13.61 13.61
Announcement Date 2/25/20 4/7/21 3/9/22 4/11/23 3/21/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,000 3,223 3,809 4,376 5,076 6,252 7,652 8,917
EBITDA 1 776.4 794 815.2 978.1 1,082 1,272 1,436 1,760
EBIT 1 566.1 528.8 498.7 617.8 664.6 825 1,004 1,262
Operating Margin 18.87% 16.41% 13.09% 14.12% 13.09% 13.2% 13.12% 14.15%
Earnings before Tax (EBT) 1 558.3 511.9 496.6 615.4 665.7 865.3 1,019 1,262
Net income 1 491.1 443.4 442.2 576.2 600.2 785.8 925 1,123
Net margin 16.37% 13.75% 11.61% 13.17% 11.82% 12.57% 12.09% 12.59%
EPS 2 0.4400 0.3700 0.3400 0.4200 0.4300 0.5616 0.6650 0.8050
Free Cash Flow 1 - -24.07 -194.8 -141.4 149 623 1,017 -
FCF margin - -0.75% -5.11% -3.23% 2.94% 9.97% 13.29% -
FCF Conversion (EBITDA) - - - - 13.77% 48.96% 70.81% -
FCF Conversion (Net income) - - - - 24.82% 79.28% 109.95% -
Dividend per Share 2 0.1000 - - 0.2000 0.3000 0.3000 0.2767 -
Announcement Date 2/25/20 4/7/21 3/9/22 4/11/23 3/21/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 - 954.5 2,089 946.5 938 1,317 1,174 2,491 876.9 976.9 1,696 1,527 3,222 1,172 1,142 1,701 1,856 1,338
EBITDA 1 - - - - - 283.7 - - - - - - - 240.5 239.2 - - -
EBIT 1 - 91.8 300 - - 269.5 67.45 337 106.7 94.82 295.2 167.8 463.1 112 81 265 236 162
Operating Margin - 9.62% 14.36% - - 20.46% 5.75% 13.53% 12.17% 9.71% 17.41% 10.99% 14.37% 9.56% 7.09% 15.58% 12.72% 12.11%
Earnings before Tax (EBT) 1 - - 297.9 - - - 65.3 334.8 106.2 - 294.2 169.9 464.1 148 117 301 272 198
Net income 1 178.6 88.49 267.1 114.1 131.4 234.7 96.04 330.7 92.78 84.64 260.4 162.4 422.8 133 108 277 250 179
Net margin - 9.27% 12.79% 12.05% 14% 17.82% 8.18% 13.28% 10.58% 8.66% 15.36% 10.64% 13.12% 11.35% 9.46% 16.28% 13.47% 13.38%
EPS 2 0.1400 0.0600 0.2000 0.0800 0.1000 0.1700 0.0700 0.2400 0.0700 0.0600 0.1800 0.1200 0.3000 0.1049 0.1015 0.1950 0.1450 0.1300
Dividend per Share - - - - - - - - - - - - - - - - - -
Announcement Date 10/22/21 3/9/22 3/9/22 4/14/22 8/17/22 10/24/22 4/11/23 4/11/23 4/24/23 8/29/23 10/20/23 3/21/24 3/21/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - 2,397 2,283 2,524 3,286 -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - -24.1 -195 -141 149 623 1,017 -
ROE (net income / shareholders' equity) 12% 8.32% 6.46% 7.15% 7.15% 8.67% 9.6% 10.9%
ROA (Net income/ Total Assets) 8.27% 6.38% - 5.73% - 6.45% 6.85% 7.9%
Assets 1 5,939 6,952 - 10,057 - 12,183 13,503 14,215
Book Value Per Share 2 3.980 4.620 5.830 5.860 6.190 6.600 7.020 7.360
Cash Flow per Share 2 0.5000 0.4500 0.5500 0.6100 0.8800 0.6100 0.9300 1.060
Capex 1 847 542 780 926 1,081 766 742 763
Capex / Sales 28.23% 16.83% 20.48% 21.15% 21.29% 12.25% 9.69% 8.56%
Announcement Date 2/25/20 4/7/21 3/9/22 4/11/23 3/21/24 - - -
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
13.61 CNY
Average target price
16.78 CNY
Spread / Average Target
+23.32%
Consensus
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