HENAN PINGGAO ELECTRIC CO.,LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 14.18 CNY | -3.73% |
|
-1.39% | +11.74% |
| May. 09 | Henan Pinggao Electric Wins Chinese State Grid's Equipment Procurement Bid; Shares Up 5% | MT |
| May. 01 | Henan Pinggao Electric's Chairman Resigns | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 8,766 | 9,688 | 12,334 | 10,733 | 17,219 | 19,241 | - | - |
| Enterprise Value (EV) 1 | 8,698 | 8,615 | 10,218 | 7,599 | 12,434 | 13,731 | 12,619 | 11,501 |
| P/E ratio | 38.4 x | 76.9 x | 174 x | 50.6 x | 21.1 x | 17.7 x | 14.7 x | 12.9 x |
| Yield | 0.79% | 0.39% | 0.18% | 0.7% | 1.67% | 2.04% | 2.38% | 2.65% |
| Capitalization / Revenue | 0.79 x | 0.99 x | 1.33 x | 1.16 x | 1.55 x | 1.5 x | 1.29 x | 1.15 x |
| EV / Revenue | 0.78 x | 0.88 x | 1.1 x | 0.82 x | 1.12 x | 1.07 x | 0.85 x | 0.68 x |
| EV / EBITDA | 12.7 x | 14.7 x | 17 x | 9.69 x | 8.97 x | 9.17 x | 6.9 x | 5.52 x |
| EV / FCF | 7.55 x | - | - | - | 5.19 x | -7.5 x | 9.63 x | 6.94 x |
| FCF Yield | 13.2% | - | - | - | 19.3% | -13.3% | 10.4% | 14.4% |
| Price to Book | 0.97 x | 1.07 x | 1.35 x | 1.15 x | 1.72 x | 1.77 x | 1.61 x | 1.47 x |
| Nbr of stocks (in thousands) | 1,356,921 | 1,356,921 | 1,356,921 | 1,356,921 | 1,356,921 | 1,356,921 | - | - |
| Reference price 2 | 6.460 | 7.140 | 9.090 | 7.910 | 12.69 | 14.18 | 14.18 | 14.18 |
| Announcement Date | 4/22/20 | 4/22/21 | 4/14/22 | 3/12/23 | 4/10/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,160 | 9,781 | 9,273 | 9,274 | 11,077 | 12,829 | 14,874 | 16,795 |
| EBITDA 1 | 685.8 | 587.9 | 600.1 | 784 | 1,385 | 1,497 | 1,828 | 2,083 |
| EBIT 1 | 281.3 | 172.1 | 310.9 | 324 | 999.7 | 1,346 | 1,670 | 1,918 |
| Operating Margin | 2.52% | 1.76% | 3.35% | 3.49% | 9.03% | 10.49% | 11.23% | 11.42% |
| Earnings before Tax (EBT) 1 | 287.9 | 203.4 | 133 | 330 | 1,002 | 1,403 | 1,749 | 2,005 |
| Net income 1 | 228.5 | 126.1 | 70.77 | 212.1 | 815.7 | 1,104 | 1,307 | 1,497 |
| Net margin | 2.05% | 1.29% | 0.76% | 2.29% | 7.36% | 8.6% | 8.79% | 8.91% |
| EPS 2 | 0.1684 | 0.0929 | 0.0522 | 0.1563 | 0.6012 | 0.7989 | 0.9639 | 1.103 |
| Free Cash Flow 1 | 1,152 | - | - | - | 2,394 | -1,832 | 1,311 | 1,656 |
| FCF margin | 10.32% | - | - | - | 21.61% | -14.28% | 8.81% | 9.86% |
| FCF Conversion (EBITDA) | 167.95% | - | - | - | 172.78% | - | 71.71% | 79.49% |
| FCF Conversion (Net income) | 504.04% | - | - | - | 293.45% | - | 100.3% | 110.65% |
| Dividend per Share 2 | 0.0510 | 0.0280 | 0.0160 | 0.0550 | 0.2120 | 0.2898 | 0.3370 | 0.3759 |
| Announcement Date | 4/22/20 | 4/22/21 | 4/14/22 | 3/12/23 | 4/10/24 | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 3,370 | 1,619 | 2,398 | 2,112 | 3,145 | 1,956 | 2,869 | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 185 | 74.85 | 114.1 | 105.2 | 29.92 | 214.9 | 239.4 | - | - | - | - | - | - |
| Operating Margin | 5.49% | 4.62% | 4.76% | 4.98% | 0.95% | 10.98% | 8.35% | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | 219 | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 1 | -0.0300 | 0.0295 | 0.0600 | 0.0400 | 0.0300 | 0.1109 | 0.1400 | 0.1600 | 0.1900 | 0.1694 | 0.1800 | 0.2100 | 0.2300 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 4/14/22 | 4/14/22 | 8/24/22 | 10/24/22 | 3/12/23 | 4/20/23 | 8/15/23 | 10/17/23 | 4/10/24 | 4/22/24 | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 67.9 | 1,074 | 2,116 | 3,134 | 4,786 | 5,510 | 6,622 | 7,740 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,152 | - | - | - | 2,394 | -1,832 | 1,311 | 1,656 |
| ROE (net income / shareholders' equity) | 2.54% | 1.39% | 0.78% | 2.3% | 8.43% | 10.3% | 11.3% | 11.8% |
| ROA (Net income/ Total Assets) | 1.01% | 0.58% | - | 1.15% | - | 5.8% | 5.58% | 5.83% |
| Assets 1 | 22,579 | 21,741 | - | 18,511 | - | 19,032 | 23,425 | 25,692 |
| Book Value Per Share 2 | 6.670 | 6.690 | 6.730 | 6.870 | 7.390 | 8.010 | 8.830 | 9.670 |
| Cash Flow per Share 2 | 0.9400 | 0.9800 | 0.8800 | 1.030 | 1.850 | 1.060 | 1.380 | 1.640 |
| Capex 1 | 122 | 71.4 | 98.5 | 64.1 | 110 | 530 | 397 | 323 |
| Capex / Sales | 1.09% | 0.73% | 1.06% | 0.69% | 1% | 4.13% | 2.67% | 1.92% |
| Announcement Date | 4/22/20 | 4/22/21 | 4/14/22 | 3/12/23 | 4/10/24 | - | - | - |
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
BUY
Number of Analysts
8
Last Close Price
14.18
CNY
Average target price
17.57
CNY
Spread / Average Target
+23.90%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +11.74% | 2.66B | |
| +8.12% | 10.34B | |
| +104.53% | 5.47B | |
| +61.90% | 3.66B | |
| +0.42% | 3.78B | |
| +62.49% | 3.17B | |
| +4.77% | 3.06B | |
| +22.10% | 1.99B | |
| -12.50% | 1.81B | |
| +34.24% | 1.64B |
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