KUAISHOU TECHNOLOGY |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 54.05 HKD | -1.55% |
|
-2.79% | +2.08% |
| May. 24 | Nomura Adjusts Kuaishou Technology’s Price Target to HK$63 From HK$58.50, Keeps at Neutral | MT |
| May. 23 | Jefferies Adjusts Kuaishou Technology's Price Target to HK$83 From HK$78, Keeps at Buy | MT |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 248,142 | 270,113 | 208,961 | 220,838 | - | - |
| Enterprise Value (EV) 1 | 215,529 | 256,839 | 196,056 | 192,234 | 166,934 | 137,615 |
| P/E ratio | -2.88 x | -19.5 x | 33.4 x | 14.7 x | 11.1 x | 8.57 x |
| Yield | - | - | - | - | - | - |
| Capitalization / Revenue | 3.06 x | 2.87 x | 1.84 x | 1.73 x | 1.54 x | 1.38 x |
| EV / Revenue | 2.66 x | 2.73 x | 1.73 x | 1.51 x | 1.16 x | 0.86 x |
| EV / EBITDA | -16.6 x | 142 x | 11.3 x | 7.63 x | 5 x | 3.22 x |
| EV / FCF | -16.2 x | -106 x | - | 8.99 x | 6.84 x | 4.05 x |
| FCF Yield | -6.18% | -0.94% | - | 11.1% | 14.6% | 24.7% |
| Price to Book | 4.99 x | 6.7 x | 4.23 x | 3.42 x | 2.55 x | 1.93 x |
| Nbr of stocks (in thousands) | 4,226,773 | 4,304,592 | 4,341,886 | 4,335,384 | - | - |
| Reference price 2 | 58.71 | 62.75 | 48.13 | 50.94 | 50.94 | 50.94 |
| Announcement Date | 3/29/22 | 3/29/23 | 3/20/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 39,120 | 58,776 | 81,082 | 94,183 | 113,470 | 127,677 | 143,340 | 159,597 |
| EBITDA 1 | - | -3,616 | -12,953 | 1,815 | 17,424 | 25,195 | 33,409 | 42,739 |
| EBIT 1 | - | -10,320 | -27,701 | -12,558 | 6,431 | 15,918 | 22,774 | 30,175 |
| Operating Margin | - | -17.56% | -34.16% | -13.33% | 5.67% | 12.47% | 15.89% | 18.91% |
| Earnings before Tax (EBT) 1 | - | -117,201 | -79,102 | -12,531 | 6,889 | 15,970 | 22,587 | 29,325 |
| Net income 1 | - | -116,635 | -78,074 | -13,691 | 6,396 | 14,737 | 19,726 | 26,001 |
| Net margin | - | -198.44% | -96.29% | -14.54% | 5.64% | 11.54% | 13.76% | 16.29% |
| EPS 2 | -21.04 | -125.2 | -20.37 | -3.220 | 1.440 | 3.468 | 4.576 | 5.944 |
| Free Cash Flow 1 | - | -3,611 | -13,319 | -2,422 | - | 21,386 | 24,415 | 33,957 |
| FCF margin | - | -6.14% | -16.43% | -2.57% | - | 16.75% | 17.03% | 21.28% |
| FCF Conversion (EBITDA) | - | - | - | - | - | 84.88% | 73.08% | 79.45% |
| FCF Conversion (Net income) | - | - | - | - | - | 145.11% | 123.77% | 130.6% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 1/26/21 | 3/23/21 | 3/29/22 | 3/29/23 | 3/20/24 | - | - | - |
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 1 | 24,430 | 21,100 | 21,695 | 23,128 | 28,292 | 25,217 | 27,744 | 27,948 | 32,561 | 29,408 | 30,450 | 31,081 | 36,822 |
| EBITDA 1 | -1,290 | -1,552 | 407.2 | 1,023 | 1,936 | 1,996 | 4,316 | 4,980 | 6,132 | 5,979 | 5,960 | 5,947 | 7,474 |
| EBIT 1 | -5,790 | -5,643 | -3,059 | -2,612 | -1,243 | -698 | 1,296 | 2,211 | 3,622 | 3,994 | 3,627 | 3,573 | 4,731 |
| Operating Margin | -23.7% | -26.75% | -14.1% | -11.29% | -4.39% | -2.77% | 4.67% | 7.91% | 11.12% | 13.58% | 11.91% | 11.5% | 12.85% |
| Earnings before Tax (EBT) 1 | -5,872 | -5,691 | -3,102 | -2,575 | -1,163 | -601 | 1,436 | 2,320 | 3,734 | 4,105 | 3,569 | 3,479 | 4,628 |
| Net income 1 | -6,202 | -6,254 | -3,176 | -2,713 | -1,547 | -873 | 1,480 | 2,181 | 3,608 | 4,119 | 3,508 | 3,324 | 4,022 |
| Net margin | -25.39% | -29.64% | -14.64% | -11.73% | -5.47% | -3.46% | 5.33% | 7.8% | 11.08% | 14.01% | 11.52% | 10.69% | 10.92% |
| EPS 2 | -0.9800 | -1.480 | -0.7500 | -0.6400 | -0.3600 | -0.2000 | 0.3400 | 0.4900 | 0.8100 | - | 0.7690 | 0.7270 | 0.9388 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/29/22 | 5/24/22 | 8/23/22 | 11/22/22 | 3/29/23 | 5/22/23 | 8/22/23 | 11/21/23 | 3/20/24 | 5/22/24 | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 170,689 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 32,612 | 13,274 | 12,905 | 28,604 | 53,903 | 83,223 |
| Leverage (Debt/EBITDA) | - | -47.2 x | - | - | - | - | - | - |
| Free Cash Flow 1 | - | -3,611 | -13,319 | -2,422 | - | 21,386 | 24,415 | 33,957 |
| ROE (net income / shareholders' equity) | - | - | - | -32.2% | 14.4% | 27.6% | 27.8% | 26.2% |
| ROA (Net income/ Total Assets) | - | -276% | -108% | -15.1% | 6.54% | 13.3% | 14.8% | 15.5% |
| Assets 1 | - | 42,281 | 72,332 | 90,912 | 97,801 | 110,760 | 133,547 | 167,947 |
| Book Value Per Share 2 | - | -172.0 | 11.80 | 9.360 | 11.40 | 14.90 | 19.90 | 26.40 |
| Cash Flow per Share 2 | - | 2.460 | -1.440 | 0.5200 | 4.820 | 5.930 | 7.080 | 8.250 |
| Capex 1 | - | 5,900 | 7,800 | 4,620 | - | 6,736 | 7,812 | 8,324 |
| Capex / Sales | - | 10.04% | 9.62% | 4.9% | - | 5.28% | 5.45% | 5.22% |
| Announcement Date | 1/26/21 | 3/23/21 | 3/29/22 | 3/29/23 | 3/20/24 | - | - | - |
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
34
Last Close Price
50.94
CNY
Average target price
73.44
CNY
Spread / Average Target
+44.18%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.08% | 30.47B | |
| +39.86% | 1,256B | |
| +62.38% | 22.8B | |
| -23.56% | 2.04B | |
| -20.69% | 1.48B | |
| +34.39% | 991M | |
| -10.53% | 569M | |
| +16.20% | 408M | |
| -16.24% | 403M | |
| +2.41% | 218M |
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