HENAN PINGGAO ELECTRIC CO.,LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 20.35 CNY | -1.69% |
|
+4.36% | +60.36% |
| 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 | 27,613 | - | - |
| Enterprise Value (EV) 1 | 8,698 | 8,615 | 10,218 | 7,599 | 12,434 | 22,104 | 20,991 | 19,873 |
| P/E ratio | 38.4 x | 76.9 x | 174 x | 50.6 x | 21.1 x | 24.1 x | 20 x | 17.5 x |
| Yield | 0.79% | 0.39% | 0.18% | 0.7% | 1.67% | 1.42% | 1.73% | 1.96% |
| Capitalization / Revenue | 0.79 x | 0.99 x | 1.33 x | 1.16 x | 1.55 x | 2.12 x | 1.86 x | 1.62 x |
| EV / Revenue | 0.78 x | 0.88 x | 1.1 x | 0.82 x | 1.12 x | 1.7 x | 1.41 x | 1.16 x |
| EV / EBITDA | 12.7 x | 14.7 x | 17 x | 9.69 x | 8.97 x | 14 x | 11.2 x | 9.24 x |
| EV / FCF | 7.55 x | - | - | - | 5.19 x | 41.4 x | 12.4 x | 13.3 x |
| FCF Yield | 13.2% | - | - | - | 19.3% | 2.42% | 8.05% | 7.53% |
| Price to Book | 0.97 x | 1.07 x | 1.35 x | 1.15 x | 1.72 x | 2.52 x | 2.3 x | 2.1 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 | 20.35 | 20.35 | 20.35 |
| 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 | 13,017 | 14,883 | 17,072 |
| EBITDA 1 | 685.8 | 587.9 | 600.1 | 784 | 1,385 | 1,575 | 1,873 | 2,150 |
| EBIT 1 | 281.3 | 172.1 | 310.9 | 324 | 999.7 | 1,341 | 1,691 | 1,945 |
| Operating Margin | 2.52% | 1.76% | 3.35% | 3.49% | 9.03% | 10.3% | 11.36% | 11.39% |
| Earnings before Tax (EBT) 1 | 287.9 | 203.4 | 133 | 330 | 1,002 | 1,430 | 1,788 | 2,091 |
| Net income 1 | 228.5 | 126.1 | 70.77 | 212.1 | 815.7 | 1,143 | 1,377 | 1,576 |
| Net margin | 2.05% | 1.29% | 0.76% | 2.29% | 7.36% | 8.78% | 9.25% | 9.23% |
| EPS 2 | 0.1684 | 0.0929 | 0.0522 | 0.1563 | 0.6012 | 0.8435 | 1.016 | 1.160 |
| Free Cash Flow 1 | 1,152 | - | - | - | 2,394 | 534 | 1,690 | 1,496 |
| FCF margin | 10.32% | - | - | - | 21.61% | 4.1% | 11.35% | 8.77% |
| FCF Conversion (EBITDA) | 167.95% | - | - | - | 172.78% | 33.91% | 90.22% | 69.6% |
| FCF Conversion (Net income) | 504.04% | - | - | - | 293.45% | 46.72% | 122.69% | 94.97% |
| Dividend per Share 2 | 0.0510 | 0.0280 | 0.0160 | 0.0550 | 0.2120 | 0.2890 | 0.3516 | 0.3998 |
| 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 | 534 | 1,690 | 1,497 |
| ROE (net income / shareholders' equity) | 2.54% | 1.39% | 0.78% | 2.3% | 8.43% | 10.8% | 11.9% | 12.4% |
| ROA (Net income/ Total Assets) | 1.01% | 0.58% | - | 1.15% | 4.29% | 5.43% | 5.83% | 5.87% |
| Assets 1 | 22,579 | 21,741 | - | 18,511 | 19,003 | 21,049 | 23,620 | 26,867 |
| Book Value Per Share 2 | 6.670 | 6.690 | 6.730 | 6.870 | 7.390 | 8.080 | 8.830 | 9.700 |
| Cash Flow per Share 2 | 0.9400 | 0.9800 | 0.8800 | 1.030 | 1.850 | 1.200 | 1.430 | 1.250 |
| Capex 1 | 122 | 71.4 | 98.5 | 64.1 | 110 | 383 | 395 | 261 |
| Capex / Sales | 1.09% | 0.73% | 1.06% | 0.69% | 1% | 2.94% | 2.65% | 1.53% |
| 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
7
Last Close Price
20.35
CNY
Average target price
21.81
CNY
Spread / Average Target
+7.17%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +60.36% | 3.81B | |
| -5.00% | 9.08B | |
| +134.83% | 6.27B | |
| -12.37% | 3.3B | |
| +47.33% | 2.87B | |
| +0.21% | 2.85B | |
| +20.21% | 2.71B | |
| +23.59% | 2.01B | |
| -27.86% | 1.49B | |
| +15.69% | 1.41B |
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