Financials AVIC Xi'an Aircraft Industry Group Company Ltd.

Equities

000768

CNE000000RF9

Aerospace & Defense

End-of-day quote Shenzhen S.E. 06:00:00 2024-07-03 pm EDT 5-day change 1st Jan Change
23.3 CNY -0.81% Intraday chart for AVIC Xi'an Aircraft Industry Group Company Ltd. +0.95% +4.16%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 45,350 101,554 101,056 70,462 62,228 64,815 - -
Enterprise Value (EV) 1 40,589 89,964 105,082 46,360 62,228 64,815 64,815 64,815
P/E ratio 79.7 x 131 x 155 x 135 x 72 x 55.5 x 39.7 x 33.4 x
Yield 0.73% 0.23% 0.23% 0.39% 0.45% 0.43% 0.43% 0.43%
Capitalization / Revenue 1.32 x 3.03 x 3.09 x 1.87 x 1.54 x 1.35 x 1.17 x 1 x
EV / Revenue 1.32 x 3.03 x 3.09 x 1.87 x 1.54 x 1.35 x 1.17 x 1 x
EV / EBITDA 40.5 x 46.3 x 50.4 x 39.2 x 28.5 x 29.7 x 22.3 x 20.6 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.74 x 6.63 x 6.42 x 4.37 x 3.18 x 3.17 x 3.05 x 2.84 x
Nbr of stocks (in thousands) 2,768,645 2,768,645 2,768,645 2,768,645 2,781,740 2,781,740 - -
Reference price 2 16.38 36.68 36.50 25.45 22.37 23.30 23.30 23.30
Announcement Date 3/30/20 3/29/21 3/28/22 4/17/23 4/1/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 34,298 33,484 32,700 37,660 40,301 47,850 55,427 64,702
EBITDA 1 1,119 2,195 2,005 1,796 2,183 2,179 2,908 3,142
EBIT 1 662.2 982.1 799.2 582.9 1,023 1,369 1,874 2,129
Operating Margin 1.93% 2.93% 2.44% 1.55% 2.54% 2.86% 3.38% 3.29%
Earnings before Tax (EBT) 1 663.4 979.9 790 607.9 1,021 1,359 1,880 2,131
Net income 1 568.9 777.4 652.9 523.4 861 1,173 1,632 1,936
Net margin 1.66% 2.32% 2% 1.39% 2.14% 2.45% 2.94% 2.99%
EPS 2 0.2055 0.2808 0.2358 0.1890 0.3105 0.4200 0.5867 0.6975
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1200 0.0850 0.0850 0.1000 0.1000 0.1000 0.1000 0.1000
Announcement Date 3/30/20 3/29/21 3/28/22 4/17/23 4/1/24 - - -
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
Net sales 1 9,592 7,509 11,611 9,225 9,315 7,943 11,613
EBITDA 372.1 - - - - - -
EBIT 1 87.13 171.8 410.1 203 -202 272 375.5
Operating Margin 0.91% 2.29% 3.53% 2.2% -2.17% 3.42% 3.23%
Earnings before Tax (EBT) 1 81.06 179.8 410.4 218.3 -200.6 273.3 376.7
Net income 1 44.86 154.6 328.3 174.3 -133.7 235.6 329.7
Net margin 0.47% 2.06% 2.83% 1.89% -1.44% 2.97% 2.84%
EPS 2 0.0200 0.0558 0.1100 0.0700 -0.0500 0.0851 0.1100
Dividend per Share 2 0.0850 - - - 0.1000 - -
Announcement Date 3/28/22 4/28/22 8/29/22 10/28/22 4/17/23 4/28/23 8/28/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - 4,026 - - - - -
Net Cash position 4,761 11,590 - 24,102 - - - -
Leverage (Debt/EBITDA) - - 2.008 x - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 3.47% 4.45% 4.15% 3.28% 5.22% 5.98% 8.02% 8.74%
ROA (Net income/ Total Assets) 1.18% 1.28% 0.91% - 1.06% 1.32% 1.48% 1.67%
Assets 1 48,331 60,828 71,986 - 81,554 88,890 110,631 115,957
Book Value Per Share 2 5.980 5.530 5.690 5.830 7.030 7.340 7.640 8.200
Cash Flow per Share 2 0.2000 0.9900 -5.400 10.60 -1.980 0.7000 0.5100 0.4900
Capex 1 705 1,020 644 871 1,170 1,257 2,023 1,086
Capex / Sales 2.05% 3.05% 1.97% 2.31% 2.9% 2.63% 3.65% 1.68%
Announcement Date 3/30/20 3/29/21 3/28/22 4/17/23 4/1/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
23.3 CNY
Average target price
27 CNY
Spread / Average Target
+15.88%
Consensus
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