BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED Financials Brilliance China Automotive Holdings Limited
Equities
1114
BMG1368B1028
Auto & Truck Manufacturers
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.97 HKD | +4.65% |
|
+13.17% | +60.00% |
| Apr. 29 | BMW Plans $2.8 Billion China Factory Update to Boost EV Production | DJ |
| Apr. 11 | Brilliance China Automotive Names CEO | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 36,431 | 29,979 | 30,504 | 19,472 | 19,948 | 31,168 | - | - |
| Enterprise Value (EV) 1 | 34,135 | 30,658 | 32,020 | -8,634 | -9,974 | 6,696 | 9,538 | 8,239 |
| P/E ratio | 5.39 x | 2,677 x | 2.55 x | 2.72 x | 2.58 x | 4.42 x | 4.65 x | 4.8 x |
| Yield | 10.8% | 1.59% | - | - | - | 38.4% | 25% | 11.3% |
| Capitalization / Revenue | 9.43 x | 9.6 x | 14.2 x | 17.2 x | 17.8 x | 27.4 x | 26.9 x | 26.3 x |
| EV / Revenue | 8.84 x | 9.82 x | 14.9 x | -7.64 x | -8.89 x | 5.88 x | 8.23 x | 6.95 x |
| EV / EBITDA | -37.2 x | -17 x | -12.6 x | 855 x | 154 x | 563 x | -30,547 x | -1,679 x |
| EV / FCF | -22.4 x | -10.9 x | 23.1 x | -6.84 x | - | 36.2 x | -32.8 x | -15.2 x |
| FCF Yield | -4.46% | -9.19% | 4.33% | -14.6% | - | 2.76% | -3.05% | -6.58% |
| Price to Book | 1.07 x | 0.9 x | 0.72 x | 0.38 x | 0.39 x | 0.65 x | 0.66 x | 0.62 x |
| Nbr of stocks (in thousands) | 5,045,269 | 5,045,269 | 5,045,269 | 5,045,269 | 5,045,269 | 5,045,269 | - | - |
| Reference price 2 | 7.221 | 5.942 | 6.046 | 3.860 | 3.954 | 6.178 | 6.178 | 6.178 |
| Announcement Date | 3/27/20 | 7/29/22 | 8/26/22 | 3/29/23 | 3/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,862 | 3,123 | 2,142 | 1,131 | 1,121 | 1,140 | 1,159 | 1,186 |
| EBITDA 1 | -918.3 | -1,803 | -2,536 | -10.1 | -64.61 | 11.9 | -0.3122 | -4.908 |
| EBIT 1 | -1,323 | -2,246 | -2,848 | -96.57 | -149.2 | -168.7 | -163.5 | -158.8 |
| Operating Margin | -34.25% | -71.9% | -132.96% | -8.54% | -13.31% | -14.81% | -14.1% | -13.39% |
| Earnings before Tax (EBT) 1 | 6,292 | -828.6 | 10,460 | 8,755 | 8,263 | 7,402 | 7,030 | 6,811 |
| Net income 1 | 6,763 | 11.22 | 11,961 | 7,147 | 7,735 | 7,046 | 6,700 | 6,490 |
| Net margin | 175.12% | 0.36% | 558.4% | 632.06% | 689.73% | 618.31% | 577.89% | 547.1% |
| EPS 2 | 1.340 | 0.002220 | 2.371 | 1.417 | 1.533 | 1.397 | 1.328 | 1.287 |
| Free Cash Flow 1 | -1,521 | -2,818 | 1,386 | 1,263 | - | 185 | -291 | -542 |
| FCF margin | -39.38% | -90.23% | 64.71% | 111.66% | - | 16.23% | -25.1% | -45.69% |
| FCF Conversion (EBITDA) | - | - | - | - | - | 1,554.3% | - | - |
| FCF Conversion (Net income) | - | - | 11.59% | 17.67% | - | 2.63% | - | - |
| Dividend per Share 2 | 0.7781 | 0.0945 | - | - | - | 2.374 | 1.543 | 0.6976 |
| Announcement Date | 3/27/20 | 7/29/22 | 8/26/22 | 3/29/23 | 3/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 |
|---|---|---|---|---|---|---|---|
| Net sales | 1,958 | 1,450 | 1,673 | 1,526 | 1,584 | - | - |
| EBITDA | - | - | - | - | - | - | - |
| EBIT 1 | - | -605.5 | -1,640 | -205.1 | -2,824 | - | -73.13 |
| Operating Margin | - | -41.76% | -98.03% | -13.44% | -178.26% | - | - |
| Earnings before Tax (EBT) 1 | - | 3,763 | - | - | - | - | 3,808 |
| Net income 1 | 3,533 | 4,045 | - | 7,607 | - | 829.9 | 6,317 |
| Net margin | 180.47% | 278.97% | - | 498.62% | - | - | - |
| EPS | 0.7003 | 0.8018 | -0.7996 | 1.508 | 2.206 | 0.1645 | - |
| Dividend per Share | - | - | - | - | - | - | - |
| Announcement Date | 3/27/20 | 8/21/20 | 7/29/22 | 7/29/22 | 8/26/22 | 9/7/22 | 3/29/23 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 679 | 1,516 | - | - | - | - | - |
| Net Cash position 1 | 2,297 | - | - | 28,106 | 29,921 | 24,473 | 21,631 | 22,929 |
| Leverage (Debt/EBITDA) | - | -0.3764 x | -0.5979 x | - | - | - | - | - |
| Free Cash Flow 1 | -1,521 | -2,818 | 1,386 | 1,263 | - | 185 | -291 | -542 |
| ROE (net income / shareholders' equity) | 20.8% | 0.03% | 24.4% | 15.2% | 14% | 14.4% | 14.2% | 13.4% |
| ROA (Net income/ Total Assets) | 14.8% | -10.2% | 31.6% | 13.6% | 14% | 14.3% | 14.2% | 13.8% |
| Assets 1 | 45,787 | -110.2 | 37,807 | 52,689 | 55,291 | 49,433 | 47,205 | 46,910 |
| Book Value Per Share 2 | 6.720 | 6.600 | 8.390 | 10.20 | 10.10 | 9.520 | 9.360 | 9.930 |
| Cash Flow per Share 2 | -0.1400 | -0.4400 | 0.3200 | 0.2600 | - | 0.0200 | -0 | -0.0300 |
| Capex 1 | 795 | 618 | 220 | 34.3 | - | 347 | 347 | 347 |
| Capex / Sales | 20.57% | 19.79% | 10.26% | 3.03% | - | 30.49% | 29.97% | 29.29% |
| Announcement Date | 3/27/20 | 7/29/22 | 8/26/22 | 3/29/23 | 3/28/24 | - | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
6.178
CNY
Average target price
7.904
CNY
Spread / Average Target
+27.95%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +60.00% | 4.3B | |
| +23.95% | 283B | |
| +5.16% | 71.88B | |
| -9.21% | 62.69B | |
| +26.98% | 52.01B | |
| +13.88% | 51.87B | |
| -0.98% | 48.19B | |
| +29.73% | 41.91B | |
| +21.62% | 41.17B | |
| +58.26% | 36.02B |
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