Financials China Everbright Bank Company Limited

Equities

601818

CNE100000SL4

Banks

End-of-day quote Shanghai S.E. 06:00:00 2024-06-04 pm EDT 5-day change 1st Jan Change
3.21 CNY -0.62% Intraday chart for China Everbright Bank Company Limited -1.53% +10.69%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 216,593 190,338 165,801 153,646 161,280 179,044 - -
Enterprise Value (EV) 1 216,593 190,338 165,801 153,646 161,280 179,044 179,044 179,044
P/E ratio 7.11 x 6.54 x 5.11 x 4.58 x 4.75 x 5.15 x 5.06 x 4.91 x
Yield 4.85% 5.26% 6.05% 6.19% 5.97% 5.48% 5.72% 6.03%
Capitalization / Revenue 1.63 x 1.34 x 1.09 x 1.01 x 1.11 x 1.27 x 1.22 x 1.18 x
EV / Revenue 1.63 x 1.34 x 1.09 x 1.01 x 1.11 x 1.27 x 1.22 x 1.18 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.6 x 0.62 x 0.47 x 0.41 x 0.38 x 0.39 x 0.36 x 0.34 x
Nbr of stocks (in thousands) 52,489,310 52,489,339 54,031,918 54,031,933 59,085,551 59,085,551 - -
Reference price 2 4.410 3.990 3.320 3.070 2.900 3.210 3.210 3.210
Announcement Date 1/22/20 1/21/21 1/18/22 3/24/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 132,812 142,535 152,751 151,865 145,735 140,907 146,277 151,500
EBITDA - - - - - - - -
EBIT 1 95,194 45,687 52,639 106,638 101,826 102,213 105,674 111,440
Operating Margin 71.68% 32.05% 34.46% 70.22% 69.87% 72.54% 72.24% 73.56%
Earnings before Tax (EBT) 1 45,163 45,497 52,941 55,966 49,757 47,521 51,561 54,601
Net income 1 37,354 37,824 43,407 39,996 40,792 38,138 40,439 42,075
Net margin 28.13% 26.54% 28.42% 26.34% 27.99% 27.07% 27.65% 27.77%
EPS 2 0.6200 0.6100 0.6500 0.6700 0.6100 0.6228 0.6342 0.6543
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.2140 0.2100 0.2010 0.1900 0.1730 0.1760 0.1835 0.1937
Announcement Date 1/22/20 1/21/21 1/18/22 3/24/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2022 Q2 2022 S1 2022 Q3 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 72,157 77,038 39,762 78,531 38,879 73,334 - 41,817 - 35,724 33,480 34,494 - - - -
EBITDA - - - - - - - - - - - - - - - -
EBIT 1 52,711 57,119 43,760 58,274 - - - 27,825 - 24,932 20,906 25,043 - - - -
Operating Margin 73.05% 74.14% 110.05% 74.21% - - - 66.54% - 69.79% 62.44% 72.6% - - - -
Earnings before Tax (EBT) 1 22,038 - - - - - - 14,037 - 16,021 4,323 14,987 - - - -
Net income 1 18,363 - 11,549 23,299 - - 12,378 11,694 - 13,618 3,102 12,426 - - - -
Net margin 25.45% - 29.05% 29.67% - - - 27.96% - 38.12% 9.27% 36.02% - - - -
EPS - - - - 0.1800 - 0.1800 - 0.3600 - - - 0.3600 0.2600 0.3700 0.2800
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 8/28/20 8/30/21 8/26/22 8/26/22 10/28/22 3/24/23 4/28/23 8/24/23 8/24/23 10/30/23 3/27/24 4/29/24 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 11.8% 10.7% 10.6% 10.3% 8.38% 7.9% 7.55% 7.46%
ROA (Net income/ Total Assets) 0.82% 0.75% 0.77% 0.66% 0.63% 0.58% 0.57% 0.54%
Assets 1 4,545,388 5,043,200 5,635,077 6,101,602 6,474,921 6,575,497 7,091,777 7,762,959
Book Value Per Share 2 7.330 6.450 6.990 7.460 7.570 8.220 9.000 9.560
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/22/20 1/21/21 1/18/22 3/24/23 3/27/24 - - -
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
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
3.21 CNY
Average target price
3.262 CNY
Spread / Average Target
+1.64%
Consensus
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