HUANENG LANCANG RIVER HYDROPOWER INC. Financials Huaneng Lancang River Hydropower Inc.
Equities
600025
CNE100002T71
Independent Power Producers
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 11.73 CNY | +2.36% |
|
+0.51% | +35.92% |
| Jul. 05 | Lancang River Hydropower's Electricity Output Rises 12% in H1 | MT |
| May. 22 | Lancang River Hydropower Issues 340 Million Yuan Green Ultra-Short-Term Bonds | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 75,960 | 80,280 | 118,620 | 118,800 | 155,340 | 211,140 | - | - |
| Enterprise Value (EV) 1 | 167,554 | 163,713 | 198,464 | 198,507 | 263,421 | 301,616 | 304,117 | 335,651 |
| P/E ratio | 13.7 x | 16.5 x | 20.6 x | 18.9 x | 21.6 x | 24.2 x | 22.6 x | 20.6 x |
| Yield | 3.61% | 3.59% | 2.58% | 2.65% | 2.09% | 1.78% | 2.1% | 2.22% |
| Capitalization / Revenue | 3.65 x | 4.17 x | 5.87 x | 5.62 x | 6.62 x | 8.26 x | 7.65 x | 7.09 x |
| EV / Revenue | 8.06 x | 8.5 x | 9.82 x | 9.39 x | 11.2 x | 11.8 x | 11 x | 11.3 x |
| EV / EBITDA | 13.1 x | 14 x | 15.4 x | 14.4 x | 17.3 x | 15.6 x | 14.2 x | 14.3 x |
| EV / FCF | 14.1 x | 15.9 x | 18.9 x | 22.8 x | -247 x | -35.4 x | 380 x | -47.3 x |
| FCF Yield | 7.09% | 6.29% | 5.28% | 4.39% | -0.4% | -2.83% | 0.26% | -2.11% |
| Price to Book | 1.38 x | 1.65 x | 2.31 x | 2.17 x | 2.86 x | 3.11 x | 2.85 x | 2.67 x |
| Nbr of stocks (in thousands) | 18,000,000 | 18,000,000 | 18,000,000 | 18,000,000 | 18,000,000 | 18,000,000 | - | - |
| Reference price 2 | 4.220 | 4.460 | 6.590 | 6.600 | 8.630 | 11.73 | 11.73 | 11.73 |
| Announcement Date | 4/24/20 | 4/22/21 | 3/2/22 | 4/21/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 20,801 | 19,253 | 20,202 | 21,142 | 23,461 | 25,570 | 27,589 | 29,783 |
| EBITDA 1 | 12,814 | 11,663 | 12,911 | 13,833 | 15,270 | 19,340 | 21,352 | 23,435 |
| EBIT 1 | 6,882 | 5,677 | 7,177 | 8,317 | 9,426 | 11,210 | 12,185 | 13,373 |
| Operating Margin | 33.09% | 29.49% | 35.53% | 39.34% | 40.18% | 43.84% | 44.17% | 44.9% |
| Earnings before Tax (EBT) 1 | 6,270 | 5,653 | 7,134 | 8,292 | 9,420 | 10,868 | 11,836 | 12,744 |
| Net income 1 | 5,545 | 4,835 | 5,838 | 6,801 | 7,638 | 8,783 | 9,392 | 10,319 |
| Net margin | 26.66% | 25.11% | 28.9% | 32.17% | 32.56% | 34.35% | 34.04% | 34.65% |
| EPS 2 | 0.3080 | 0.2700 | 0.3200 | 0.3500 | 0.4000 | 0.4855 | 0.5198 | 0.5702 |
| Free Cash Flow 1 | 11,885 | 10,301 | 10,475 | 8,713 | -1,066 | -8,524 | 800.7 | -7,089 |
| FCF margin | 57.13% | 53.5% | 51.85% | 41.21% | -4.55% | -33.34% | 2.9% | -23.8% |
| FCF Conversion (EBITDA) | 92.75% | 88.32% | 81.13% | 62.98% | - | - | 3.75% | - |
| FCF Conversion (Net income) | 214.35% | 213.06% | 179.43% | 128.1% | - | - | 8.53% | - |
| Dividend per Share 2 | 0.1522 | 0.1600 | 0.1700 | 0.1750 | 0.1800 | 0.2090 | 0.2463 | 0.2608 |
| Announcement Date | 4/24/20 | 4/22/21 | 3/2/22 | 4/21/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 10,212 | - | - | - | - | - | - | - | - | - |
| EBITDA | 6,214 | - | - | - | - | - | - | - | - | - |
| EBIT | 3,214 | - | - | - | - | - | - | - | - | - |
| Operating Margin | 31.47% | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | - | 975.6 | 742 | - | - | - | 803.2 | 2,350 | 3,154 | 3,300 |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | - | 0.0500 | 0.0400 | 0.1700 | 0.1200 | 0.0200 | 0.0400 | 0.1400 | 0.1800 | 0.1700 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 4/24/20 | 3/2/22 | 4/22/22 | 7/21/22 | 10/27/22 | 4/21/23 | 4/21/23 | 8/26/23 | 8/26/23 | 10/27/23 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 91,594 | 83,433 | 79,844 | 79,707 | 108,081 | 90,476 | 92,977 | 124,511 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.148 x | 7.154 x | 6.184 x | 5.762 x | 7.078 x | 4.678 x | 4.355 x | 5.313 x |
| Free Cash Flow 1 | 11,885 | 10,301 | 10,475 | 8,713 | -1,066 | -8,524 | 801 | -7,089 |
| ROE (net income / shareholders' equity) | 11.6% | 8.47% | 9.29% | 10.6% | 10.5% | 12.7% | 12.7% | 12.9% |
| ROA (Net income/ Total Assets) | 3.3% | 2.91% | 3.59% | 4.18% | 4.27% | 4.3% | 4.47% | 4.54% |
| Assets 1 | 167,915 | 166,023 | 162,642 | 162,879 | 179,058 | 204,183 | 210,045 | 227,216 |
| Book Value Per Share 2 | 3.060 | 2.700 | 2.860 | 3.040 | 3.020 | 3.780 | 4.110 | 4.390 |
| Cash Flow per Share 2 | 0.9000 | 0.8100 | 0.9200 | 0.9200 | 0.9500 | 1.010 | 1.120 | 1.300 |
| Capex 1 | 4,279 | 4,323 | 6,019 | 7,906 | 18,106 | 15,992 | 16,329 | 14,815 |
| Capex / Sales | 20.57% | 22.45% | 29.8% | 37.39% | 77.17% | 62.54% | 59.19% | 49.74% |
| Announcement Date | 4/24/20 | 4/22/21 | 3/2/22 | 4/21/23 | 4/26/24 | - | - | - |
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
8
Last Close Price
11.73
CNY
Average target price
10.59
CNY
Spread / Average Target
-9.72%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +35.92% | 28.46B | |
| +12.81% | 32.91B | |
| -27.61% | 16.25B | |
| +2.25% | 6.97B | |
| +26.49% | 6.4B | |
| +2.33% | 4.65B | |
| -16.70% | 3.87B | |
| +9.81% | 3B | |
| -10.59% | 2.99B | |
| -.--% | 2.89B |
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- Financials Huaneng Lancang River Hydropower Inc.
