AVIC AIRBORNE SYSTEMS CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 12.1 CNY | +1.17% |
|
+2.46% | -8.19% |
| May. 22 | AviChina Unit to Sell Buildings, Equipment in China to Affiliate | MT |
| Apr. 26 | AVIC Airborne Systems Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 24,957 | 37,685 | 42,940 | 30,627 | 63,777 | 58,551 | - | - |
| Enterprise Value (EV) 1 | 28,351 | 37,591 | 43,396 | 33,418 | 63,777 | 58,551 | 58,551 | 58,551 |
| P/E ratio | 45.1 x | 56.1 x | 53.8 x | 35.1 x | 30.2 x | 27.5 x | 23.5 x | 20.6 x |
| Yield | 0.42% | 0.51% | 0.56% | - | 0.96% | 1.16% | 1.12% | 1.16% |
| Capitalization / Revenue | 2.99 x | 4.31 x | 4.36 x | 2.74 x | 2.2 x | 2.05 x | 1.78 x | 1.67 x |
| EV / Revenue | 2.99 x | 4.31 x | 4.36 x | 2.74 x | 2.2 x | 2.05 x | 1.78 x | 1.67 x |
| EV / EBITDA | 24.6 x | 34.2 x | 32.2 x | 19.7 x | 17.2 x | 17.1 x | 12.7 x | 10.9 x |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 3.2 x | 3.57 x | 3.82 x | 2.53 x | 1.77 x | 1.56 x | 1.52 x | 1.42 x |
| Nbr of stocks (in thousands) | 1,752,626 | 1,917,799 | 1,917,799 | 1,917,799 | 4,838,897 | 4,838,897 | - | - |
| Reference price 2 | 14.24 | 19.65 | 22.39 | 15.97 | 13.18 | 12.10 | 12.10 | 12.10 |
| Announcement Date | 3/30/20 | 3/30/21 | 3/30/22 | 3/15/23 | 3/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,352 | 8,747 | 9,839 | 11,186 | 29,007 | 28,546 | 32,892 | 35,139 |
| EBITDA 1 | 1,013 | 1,103 | 1,335 | 1,553 | 3,698 | 3,427 | 4,599 | 5,350 |
| EBIT 1 | 607.2 | 731.4 | 881.7 | 927 | 2,230 | 2,387 | 2,870 | 3,341 |
| Operating Margin | 7.27% | 8.36% | 8.96% | 8.29% | 7.69% | 8.36% | 8.72% | 9.51% |
| Earnings before Tax (EBT) 1 | 631.1 | 719.5 | 881.1 | 925.7 | 2,257 | 2,395 | 2,879 | 3,353 |
| Net income 1 | 556 | 630.8 | 798.7 | 871.9 | 1,886 | 2,144 | 2,499 | 2,846 |
| Net margin | 6.66% | 7.21% | 8.12% | 7.79% | 6.5% | 7.51% | 7.6% | 8.1% |
| EPS 2 | 0.3160 | 0.3501 | 0.4165 | 0.4546 | 0.4370 | 0.4400 | 0.5150 | 0.5867 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.0600 | 0.1000 | 0.1250 | - | 0.1260 | 0.1400 | 0.1350 | 0.1400 |
| Announcement Date | 3/30/20 | 3/30/21 | 3/30/22 | 3/15/23 | 3/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,902 | 2,346 | 2,841 | 2,713 | 3,286 | 2,467 | 11,514 | - | 8,276 | 5,643 | 7,765 | 6,799 | 8,336 | 6,974 | 8,572 |
| EBITDA | 252.8 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 229.4 | 231.2 | 336.1 | 175.1 | 184.6 | 240.3 | 1,074 | - | - | - | - | - | - | - | - |
| Operating Margin | 7.91% | 9.86% | 11.83% | 6.45% | 5.62% | 9.74% | 9.33% | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | 225.3 | 235.2 | 333.4 | 175.3 | 181.8 | 241 | 1,077 | - | - | - | - | - | - | - | - |
| Net income | 223.6 | 201.3 | 318.7 | 175.1 | 176.9 | 210.8 | 813.6 | 625.7 | - | - | - | - | - | - | - |
| Net margin | 7.7% | 8.58% | 11.22% | 6.45% | 5.38% | 8.55% | 7.07% | - | - | - | - | - | - | - | - |
| EPS | 0.1200 | 0.1044 | 0.1700 | 0.0900 | 0.0900 | 0.1099 | 0.1600 | 0.1283 | - | - | - | - | - | - | - |
| Dividend per Share | 0.1250 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/30/22 | 4/30/22 | 8/30/22 | 10/28/22 | 3/15/23 | 4/29/23 | 8/22/23 | 10/24/23 | 3/15/24 | 4/26/24 | - | - | - | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | 3,393 | - | 456 | 2,790 | - | - | - | - |
| Net Cash position | - | 93.3 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.35 x | - | 0.3419 x | 1.797 x | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 7.11% | 7.77% | 7.31% | 7.44% | 6.15% | 5.47% | 6.4% | 6.67% |
| ROA (Net income/ Total Assets) | 2.51% | 2.66% | - | - | - | 2.79% | 3.04% | 3.25% |
| Assets 1 | 22,170 | 23,705 | - | - | - | 76,938 | 82,208 | 87,569 |
| Book Value Per Share 2 | 4.460 | 5.510 | 5.860 | 6.320 | 7.460 | 7.740 | 7.950 | 8.540 |
| Cash Flow per Share 2 | 0.4200 | 0.4200 | 0.8100 | -0.4100 | -0.2100 | 0.5300 | 0.2700 | 0.6900 |
| Capex 1 | 768 | 874 | 818 | 507 | 1,417 | 5,765 | 5,762 | 5,762 |
| Capex / Sales | 9.19% | 9.99% | 8.31% | 4.53% | 4.89% | 20.2% | 17.52% | 16.4% |
| Announcement Date | 3/30/20 | 3/30/21 | 3/30/22 | 3/15/23 | 3/15/24 | - | - | - |
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
D+
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
12.1
CNY
Average target price
14
CNY
Spread / Average Target
+15.70%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -8.19% | 8.08B | |
| +32.78% | 75.17B | |
| +56.41% | 34.55B | |
| +23.98% | 26.86B | |
| -0.19% | 13.73B | |
| +17.03% | 13.34B | |
| +26.94% | 10.83B | |
| -.--% | 7.35B | |
| +3.02% | 3.72B | |
| -4.59% | 3.53B |
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- Financials AVIC Airborne Systems Co., Ltd.
