Financials Hoymiles Power Electronics Inc.

Equities

688032

CNE1000055R8

Electrical Components & Equipment

End-of-day quote Shanghai S.E. 06:00:00 2024-07-14 pm EDT 5-day change 1st Jan Change
108.8 CNY -2.51% Intraday chart for Hoymiles Power Electronics Inc. +5.84% -39.95%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 28,160 52,480 22,428 13,468 - -
Enterprise Value (EV) 1 28,160 47,198 17,636 8,885 9,082 9,213
P/E ratio 105 x 98.5 x 43.2 x 20.5 x 15.4 x 11.9 x
Yield 0.43% 0.57% 1.33% 2.38% 3.13% 3.92%
Capitalization / Revenue 35.4 x 34.2 x 11.1 x 4.64 x 3.27 x 2.4 x
EV / Revenue 35.4 x 30.7 x 8.71 x 3.06 x 2.2 x 1.64 x
EV / EBITDA 122 x 75.5 x 38.4 x 13.7 x 9.98 x 7.6 x
EV / FCF - -1,077,433,542 x -67,046,441 x - - -
FCF Yield - -0% -0% - - -
Price to Book 47 x 8.19 x 3.52 x 2.01 x 1.86 x 1.71 x
Nbr of stocks (in thousands) 124,326 124,326 123,771 123,763 - -
Reference price 2 226.5 422.1 181.2 108.8 108.8 108.8
Announcement Date 2/25/22 2/27/23 2/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 795.2 1,537 2,026 2,900 4,120 5,610
EBITDA 1 - 230.7 625 459.3 648.9 910.2 1,212
EBIT 1 - 222.4 612.1 598.7 787.7 1,040 1,358
Operating Margin - 27.97% 39.84% 29.55% 27.16% 25.24% 24.21%
Earnings before Tax (EBT) 1 - 224.6 612.7 599.6 760 1,011 1,309
Net income 1 104.1 201.7 532.6 519.9 660.2 878.1 1,139
Net margin - 25.37% 34.66% 25.66% 22.76% 21.31% 20.3%
EPS 2 1.116 2.162 4.284 4.195 5.318 7.074 9.176
Free Cash Flow - - -43.81 -263 - - -
FCF margin - - -2.85% -12.98% - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 - 0.9652 2.387 2.416 2.588 3.408 4.271
Announcement Date 8/13/21 2/25/22 2/27/23 2/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - 422.4 600.4 - 484.6 343.1 618 - 615.3 769.1 1,361 - -
EBITDA 1 - 152 - - - - - - 106.5 129.4 237.9 - -
EBIT - 184.6 194.4 - 192.8 76.12 129.9 - - - - - -
Operating Margin - 43.7% 32.38% - 39.79% 22.19% 21.02% - - - - - -
Earnings before Tax (EBT) 1 - - - - 192.7 76.59 129.7 - 138 172.5 315.4 - -
Net income 1 201.8 160.3 - 176.3 172.2 66.96 104.5 67.3 119.1 148.9 260.2 - -
Net margin - 37.95% - - 35.53% 19.52% 16.91% - 19.36% 19.36% 19.12% - -
EPS 2 - 1.288 1.369 - 1.387 0.5436 0.8456 - 0.9594 1.199 2.096 - -
Dividend per Share 2 - - - - - - 2.416 - - - 1.919 - -
Announcement Date 8/29/22 10/26/22 2/27/23 4/26/23 8/30/23 10/29/23 2/25/24 4/28/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - - 5,283 4,792 4,583 4,385 4,254
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - -43.8 -263 - - -
ROE (net income / shareholders' equity) - 6.34% 8.61% 8.1% 9.96% 12.4% 14.6%
ROA (Net income/ Total Assets) - 5.5% - 7.04% 8.6% 10.1% 11.5%
Assets 1 - 3,671 - 7,385 7,677 8,665 9,948
Book Value Per Share 2 - 4.810 51.50 51.50 54.10 58.50 63.80
Cash Flow per Share 2 - 1.210 3.430 0.3300 3.690 4.800 6.100
Capex 1 - 43.4 470 304 209 204 219
Capex / Sales - 5.46% 30.58% 14.99% 7.19% 4.95% 3.9%
Announcement Date 8/13/21 2/25/22 2/27/23 2/25/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
108.8 CNY
Average target price
181.2 CNY
Spread / Average Target
+66.47%
Consensus
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