ZHEJIANG HUACE FILM & TV CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.45 CNY | -5.82% |
|
-4.36% | +26.92% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 12,992 | 10,850 | 12,870 | 10,049 | 10,980 | 13,935 | - | - |
| Enterprise Value (EV) 1 | 12,705 | 9,096 | 9,795 | 7,972 | 8,963 | 9,236 | 8,057 | 8,572 |
| P/E ratio | -8.92 x | 26.9 x | 30.8 x | 25.4 x | 29.4 x | 28.3 x | 22.3 x | 24.8 x |
| Yield | 0.2% | 0.34% | 0.32% | 0.41% | 0.7% | 0.81% | 0.92% | 1.48% |
| Capitalization / Revenue | 4.94 x | 2.91 x | 3.38 x | 4.06 x | 4.84 x | 4.9 x | 3.64 x | 4.27 x |
| EV / Revenue | 4.83 x | 2.44 x | 2.57 x | 3.22 x | 3.95 x | 3.25 x | 2.1 x | 2.63 x |
| EV / EBITDA | -9.26 x | 16.8 x | 21.7 x | 15.1 x | 19.5 x | 15.1 x | 11.3 x | - |
| EV / FCF | 11.9 x | - | 7 x | 27.7 x | 23.4 x | 6.22 x | 27.9 x | 26.9 x |
| FCF Yield | 8.38% | - | 14.3% | 3.61% | 4.28% | 16.1% | 3.59% | 3.72% |
| Price to Book | 2.47 x | 1.95 x | 1.94 x | 1.48 x | 1.58 x | 1.9 x | 1.75 x | 1.71 x |
| Nbr of stocks (in thousands) | 1,755,674 | 1,755,674 | 1,901,074 | 1,885,331 | 1,870,517 | 1,870,517 | - | - |
| Reference price 2 | 7.400 | 6.180 | 6.770 | 5.330 | 5.870 | 7.450 | 7.450 | 7.450 |
| Announcement Date | 2/28/20 | 4/25/21 | 4/27/22 | 4/2/23 | 4/24/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,631 | 3,732 | 3,807 | 2,475 | 2,267 | 2,845 | 3,829 | 3,265 |
| EBITDA 1 | -1,372 | 542.4 | 452 | 529.6 | 460.4 | 610.5 | 710 | - |
| EBIT 1 | -1,398 | 516.4 | 433.1 | 515.1 | 447.6 | 532.5 | 672.1 | 594.1 |
| Operating Margin | -53.15% | 13.84% | 11.38% | 20.81% | 19.74% | 18.72% | 17.55% | 18.19% |
| Earnings before Tax (EBT) 1 | -1,401 | 516.3 | 504 | 515.7 | 448.7 | 578.7 | 740.3 | 659.5 |
| Net income 1 | -1,467 | 399.2 | 400.4 | 402.7 | 382.2 | 492.7 | 635 | 565 |
| Net margin | -55.77% | 10.7% | 10.52% | 16.27% | 16.86% | 17.32% | 16.58% | 17.3% |
| EPS 2 | -0.8300 | 0.2300 | 0.2200 | 0.2100 | 0.2000 | 0.2633 | 0.3338 | 0.3000 |
| Free Cash Flow 1 | 1,065 | - | 1,399 | 287.9 | 383.5 | 1,484 | 289 | 319 |
| FCF margin | 40.47% | - | 36.75% | 11.63% | 16.91% | 52.17% | 7.55% | 9.77% |
| FCF Conversion (EBITDA) | - | - | 309.49% | 54.35% | 83.29% | 243.08% | 40.71% | - |
| FCF Conversion (Net income) | - | - | 349.39% | 71.48% | 100.34% | 301.22% | 45.51% | 56.46% |
| Dividend per Share 2 | 0.0150 | 0.0210 | 0.0220 | 0.0220 | 0.0410 | 0.0600 | 0.0688 | 0.1100 |
| Announcement Date | 2/28/20 | 4/25/21 | 4/27/22 | 4/2/23 | 4/24/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 470.8 | 716 | 1,187 | 277.9 | - | 172.4 | 327.8 | 176.5 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - |
| Net income 1 | 114 | 125.9 | 239.9 | 61.11 | 147 | 93.5 | 86.81 | 30.01 |
| Net margin | 24.21% | 17.59% | 20.22% | 21.99% | - | 54.24% | 26.48% | 17% |
| EPS | - | - | - | - | 0.0800 | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 4/27/22 | 8/22/22 | 8/22/22 | 10/24/22 | 4/25/23 | 8/17/23 | 10/24/23 | 4/24/24 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 287 | 1,754 | 3,076 | 2,077 | 2,016 | 4,700 | 5,879 | 5,364 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,065 | - | 1,399 | 288 | 384 | 1,484 | 289 | 319 |
| ROE (net income / shareholders' equity) | -24.2% | 7.48% | 6.44% | 6% | 5.52% | 6.77% | 7.63% | 6.84% |
| ROA (Net income/ Total Assets) | -12.9% | 4.4% | 4.7% | - | - | 5.4% | 5.5% | - |
| Assets 1 | 11,371 | 9,079 | 8,519 | - | - | 9,123 | 11,546 | - |
| Book Value Per Share 2 | 2.990 | 3.160 | 3.490 | 3.610 | 3.700 | 3.920 | 4.260 | 4.350 |
| Cash Flow per Share 2 | 0.7100 | 0.4900 | 0.7400 | 0.1500 | 0.2100 | 0.1200 | 0.3900 | 0.2400 |
| Capex 1 | 182 | 2.96 | 9.89 | 1.73 | 9.82 | 14 | 8.16 | - |
| Capex / Sales | 6.9% | 0.08% | 0.26% | 0.07% | 0.43% | 0.49% | 0.21% | - |
| Announcement Date | 2/28/20 | 4/25/21 | 4/27/22 | 4/2/23 | 4/24/24 | - | - | - |
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
7
Last Close Price
7.45
CNY
Average target price
6.2
CNY
Spread / Average Target
-16.78%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +26.92% | 1.92B | |
| +12.81% | 8.1B | |
| -6.07% | 6.11B | |
| +4.40% | 5.38B | |
| +1.36% | 4.41B | |
| +8.28% | 4.21B | |
| +12.02% | 3.67B | |
| +19.65% | 3.14B | |
| -6.37% | 2.95B | |
| -9.91% | 2.51B |
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- Financials Zhejiang Huace Film & TV Co., Ltd.
