Financials Guangdong Xinbao Electrical Appliances Holdings Co., Ltd

Equities

002705

CNE100001R82

Appliances, Tools & Housewares

End-of-day quote Shenzhen S.E. 06:00:00 2024-07-02 pm EDT 5-day change 1st Jan Change
13.3 CNY -1.77% Intraday chart for Guangdong Xinbao Electrical Appliances Holdings Co., Ltd -9.15% -8.72%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,216 33,862 20,239 13,575 11,920 10,881 - -
Enterprise Value (EV) 1 13,216 33,862 20,239 9,996 9,045 8,310 9,162 10,003
P/E ratio 19.2 x 30.3 x 25.7 x 14.2 x 12.3 x 9.64 x 8.68 x 7.9 x
Yield 2.43% 1.42% 0.81% 2.4% 2.75% 3.61% 3.98% 4.81%
Capitalization / Revenue 1.45 x 2.57 x 1.36 x 0.99 x 0.81 x 0.67 x 0.62 x 0.57 x
EV / Revenue 1.45 x 2.57 x 1.36 x 0.73 x 0.62 x 0.51 x 0.52 x 0.52 x
EV / EBITDA 11.5 x 19.2 x 14.4 x 5.68 x 4.74 x 3.99 x 3.99 x 4.07 x
EV / FCF - - -94.4 x 25.3 x -137 x 11.3 x 6.33 x 6.09 x
FCF Yield - - -1.06% 3.95% -0.73% 8.86% 15.8% 16.4%
Price to Book 3.07 x 5.61 x 3.36 x 1.97 x 1.58 x 1.3 x 1.17 x 1.06 x
Nbr of stocks (in thousands) 801,473 801,473 819,412 815,333 818,146 818,146 - -
Reference price 2 16.49 42.25 24.70 16.65 14.57 13.30 13.30 13.30
Announcement Date 2/25/20 3/5/21 2/25/22 2/27/23 2/29/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,125 13,191 14,912 13,696 14,647 16,287 17,675 19,123
EBITDA 1 1,154 1,759 1,402 1,760 1,909 2,084 2,294 2,460
EBIT 1 784.4 1,375 977.3 1,281 1,312 1,482 1,646 1,812
Operating Margin 8.6% 10.42% 6.55% 9.35% 8.96% 9.1% 9.31% 9.48%
Earnings before Tax (EBT) 1 795.3 1,374 986.4 1,257 1,307 1,482 1,638 1,793
Net income 1 687.3 1,118 792.5 961.4 977.1 1,136 1,261 1,382
Net margin 7.53% 8.48% 5.31% 7.02% 6.67% 6.98% 7.14% 7.23%
EPS 2 0.8575 1.396 0.9613 1.174 1.188 1.380 1.532 1.682
Free Cash Flow 1 - - -214.4 394.7 -66.08 736 1,447 1,642
FCF margin - - -1.44% 2.88% -0.45% 4.52% 8.19% 8.59%
FCF Conversion (EBITDA) - - - 22.42% - 35.32% 63.07% 66.76%
FCF Conversion (Net income) - - - 41.05% - 64.78% 114.74% 118.81%
Dividend per Share 2 0.4000 0.6000 0.2000 0.4000 0.4000 0.4800 0.5300 0.6400
Announcement Date 2/25/20 3/5/21 2/25/22 2/27/23 2/29/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4
Net sales 1 4,209 3,642 - 3,591 2,979 2,829 3,525 4,400 3,892 3,474 3,969 7,423 4,672 4,218
EBITDA - - - - - - - - - - - - - -
EBIT - - - - 204 196.7 331.5 442 - 251.7 - - - -
Operating Margin - - - - 6.85% 6.95% 9.4% 10.05% - 7.25% - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - -
Net income 1 197.6 - 486.3 357.5 - - - - 241.2 172.6 282 455 - -
Net margin 4.69% - - 9.95% - - - - 6.2% 4.97% 7.11% 6.13% - -
EPS 2 0.2400 - 0.5965 - 0.1400 0.1681 0.3100 0.4100 0.3000 0.2110 0.3600 - 0.4600 0.3200
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 2/25/22 4/27/22 8/26/22 10/27/22 2/27/23 4/27/23 8/28/23 10/27/23 2/29/24 4/26/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - 3,580 2,875 2,572 1,720 878
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - -214 395 -66.1 736 1,447 1,642
ROE (net income / shareholders' equity) 16.7% 23.7% 12.9% 14.7% 13.3% 13.7% 13.8% 13.7%
ROA (Net income/ Total Assets) 9% 10.8% 6.33% 7.54% 7.15% 7.38% 7.5% 7.47%
Assets 1 7,641 10,323 12,518 12,746 13,671 15,405 16,815 18,509
Book Value Per Share 2 5.360 7.530 7.360 8.440 9.230 10.20 11.40 12.50
Cash Flow per Share 2 1.800 3.130 1.020 1.720 2.320 1.890 2.720 2.140
Capex 1 614 919 1,061 1,028 1,975 729 605 553
Capex / Sales 6.73% 6.97% 7.11% 7.51% 13.48% 4.48% 3.42% 2.89%
Announcement Date 2/25/20 3/5/21 2/25/22 2/27/23 2/29/24 - - -
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
9
Last Close Price
13.3 CNY
Average target price
22.33 CNY
Spread / Average Target
+67.91%
Consensus
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