Financials Smoore International Holdings Limited

Equities

6969

KYG8245V1023

Tobacco

Delayed Hong Kong S.E. 11:54:03 2024-06-11 pm EDT 5-day change 1st Jan Change
8.67 HKD -0.12% Intraday chart for Smoore International Holdings Limited -0.46% +33.38%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 295,445 194,664 65,062 36,258 49,432 - -
Enterprise Value (EV) 1 286,218 183,674 50,426 20,867 31,634 31,728 36,182
P/E ratio 119 x 37.9 x 26.4 x 22.2 x 28.8 x 23 x 20.4 x
Yield 0.54% 0.98% 2.29% 1.56% 1.17% 1.38% 1.31%
Capitalization / Revenue 29.5 x 14.2 x 5.36 x 3.25 x 3.96 x 3.31 x 3.06 x
EV / Revenue 28.6 x 13.4 x 4.15 x 1.87 x 2.53 x 2.12 x 2.24 x
EV / EBITDA 66.9 x 30.7 x 17.3 x 9.76 x 13.6 x 11.3 x 11.5 x
EV / FCF 106 x 113 x -42.6 x - 13.5 x 25.6 x 25.8 x
FCF Yield 0.94% 0.89% -2.35% - 7.4% 3.9% 3.87%
Price to Book 23.1 x 10 x 3.19 x 1.69 x 2.05 x 2.05 x 1.95 x
Nbr of stocks (in thousands) 5,865,151 6,010,226 6,078,169 6,137,239 6,137,699 - -
Reference price 2 50.37 32.39 10.70 5.908 8.054 8.054 8.054
Announcement Date 3/31/21 3/30/22 3/20/23 3/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,611 10,010 13,755 12,145 11,168 12,484 14,942 16,147
EBITDA 1 - 4,281 5,982 2,918 2,137 2,332 2,819 3,139
EBIT 1 - 4,049 5,650 2,352 1,458 1,769 2,101 2,317
Operating Margin - 40.45% 41.07% 19.36% 13.06% 14.17% 14.06% 14.35%
Earnings before Tax (EBT) 1 - 3,118 6,209 2,954 1,937 1,993 2,376 2,825
Net income 1 - 2,400 5,287 2,510 1,645 1,693 2,142 2,400
Net margin - 23.98% 38.44% 20.67% 14.73% 13.56% 14.34% 14.87%
EPS 2 - 0.4217 0.8540 0.4062 0.2667 0.2799 0.3506 0.3950
Free Cash Flow 1 - 2,696 1,630 -1,185 - 2,340 1,238 1,402
FCF margin - 26.93% 11.85% -9.76% - 18.74% 8.29% 8.68%
FCF Conversion (EBITDA) - 62.98% 27.24% - - 100.33% 43.92% 44.66%
FCF Conversion (Net income) - 112.34% 30.82% - - 138.18% 57.8% 58.4%
Dividend per Share 2 - 0.2700 0.3163 0.2455 0.0920 0.0943 0.1112 0.1056
Announcement Date 6/29/20 3/31/21 3/30/22 3/20/23 3/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2022 S1 2023 S1
Net sales 6,953 5,653 -
EBITDA - - -
EBIT 1 3,151 - 566
Operating Margin 45.32% - -
Earnings before Tax (EBT) 1 - - 796.2
Net income 1 - - 717.3
Net margin - - -
EPS - - -
Dividend per Share - - -
Announcement Date 8/19/21 8/24/22 8/21/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - 9,227 10,989 14,636 15,392 17,797 17,704 13,250
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 2,696 1,630 -1,185 - 2,340 1,238 1,402
ROE (net income / shareholders' equity) - 36.5% 33.4% 12.7% 7.87% 7.63% 8.76% 9.28%
ROA (Net income/ Total Assets) - 26.6% 28.1% 10.6% 6.6% 6.3% 7.05% 7.7%
Assets 1 - 9,038 18,823 23,615 24,934 26,877 30,383 31,175
Book Value Per Share 2 - 2.180 3.220 3.350 3.490 3.920 3.930 4.130
Cash Flow per Share 2 - 0.5300 0.5800 0.0800 0.5200 0.2900 0.4700 0.2800
Capex 1 - 339 1,959 1,655 - 1,444 1,444 1,447
Capex / Sales - 3.39% 14.24% 13.62% - 11.56% 9.66% 8.96%
Announcement Date 6/29/20 3/31/21 3/30/22 3/20/23 3/18/24 - - -
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
BUY
Number of Analysts
10
Last Close Price
8.054 CNY
Average target price
9.025 CNY
Spread / Average Target
+12.05%
Consensus

Quarterly revenue - Rate of surprise

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