LEXINFINTECH HOLDINGS LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.84 USD | -0.81% |
|
-1.60% | -.--% |
| May. 28 | Nomura Trims LexinFintech Holdings Price Target to $2.03 From $2.38, Maintains Neutral Rating | MT |
| May. 24 | Transcript : LexinFintech Holdings Ltd., Q1 2024 Earnings Call, May 23, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 17,282 | 7,856 | 4,464 | 2,416 | 2,129 | 2,191 | - | - |
| Enterprise Value (EV) 1 | 23,426 | 10,209 | 3,446 | 2,416 | 2,129 | 115.9 | -289.1 | -672.1 |
| P/E ratio | 7.87 x | 14 x | 2.14 x | 2.97 x | 2.06 x | 1.93 x | 1.57 x | 1.49 x |
| Yield | - | - | - | - | - | 10.4% | 12.2% | 12.5% |
| Capitalization / Revenue | 1.63 x | 0.67 x | 0.39 x | 0.24 x | 0.16 x | 0.17 x | 0.16 x | 0.15 x |
| EV / Revenue | 2.21 x | 0.88 x | 0.3 x | 0.24 x | 0.16 x | 0.01 x | -0.02 x | -0.05 x |
| EV / EBITDA | 8.05 x | 9.48 x | 1.11 x | - | - | 0.05 x | -0.13 x | -0.33 x |
| EV / FCF | -28.3 x | -34.3 x | 1.35 x | 24.4 x | - | 0.04 x | -0.16 x | -0.3 x |
| FCF Yield | -3.54% | -2.91% | 73.9% | 4.09% | - | 2,409% | -610% | -338% |
| Price to Book | 5.21 x | 1.45 x | 0.56 x | - | - | 0.2 x | 0.18 x | 0.16 x |
| Nbr of stocks (in thousands) | 178,718 | 179,709 | 182,042 | 184,389 | 163,028 | 164,413 | - | - |
| Reference price 2 | 96.70 | 43.72 | 24.52 | 13.10 | 13.06 | 13.33 | 13.33 | 13.33 |
| Announcement Date | 3/24/20 | 3/19/21 | 3/15/22 | 3/13/23 | 3/20/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,604 | 11,645 | 11,381 | 9,866 | 13,057 | 12,914 | 13,488 | 14,514 |
| EBITDA 1 | 2,911 | 1,077 | 3,115 | - | - | 2,108 | 2,154 | 2,046 |
| EBIT 1 | 2,871 | 1,023 | 3,025 | 1,274 | 1,798 | 2,037 | 2,063 | 2,046 |
| Operating Margin | 27.07% | 8.79% | 26.58% | 12.92% | 13.77% | 15.77% | 15.29% | 14.1% |
| Earnings before Tax (EBT) 1 | 2,707 | 685.6 | 2,770 | 1,029 | 1,327 | 1,380 | 1,592 | 1,709 |
| Net income 1 | 2,295 | 595 | 2,334 | 819.8 | 1,066 | 1,126 | 1,398 | 1,478 |
| Net margin | 21.64% | 5.11% | 20.51% | 8.31% | 8.16% | 8.72% | 10.36% | 10.18% |
| EPS 2 | 12.29 | 3.130 | 11.46 | 4.410 | 6.340 | 6.895 | 8.479 | 8.972 |
| Free Cash Flow 1 | -828.4 | -297.6 | 2,546 | 98.84 | - | 2,792 | 1,763 | 2,271 |
| FCF margin | -7.81% | -2.56% | 22.37% | 1% | - | 21.62% | 13.07% | 15.65% |
| FCF Conversion (EBITDA) | - | - | 81.72% | - | - | 132.48% | 81.83% | 111% |
| FCF Conversion (Net income) | - | - | 109.07% | 12.06% | - | 248.07% | 126.15% | 153.65% |
| Dividend per Share 2 | - | - | - | - | - | 1.383 | 1.627 | 1.664 |
| Announcement Date | 3/24/20 | 3/19/21 | 3/15/22 | 3/13/23 | 3/20/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q3 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | 2,199 | - | 2,413 | - | - | 3,509 | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | 164.8 | - | - | 370.6 | - | - | - | - |
| Net margin | - | - | - | 6.83% | - | - | 10.56% | - | - | - | - |
| EPS | 2.860 | 1.290 | 0.4200 | - | - | - | - | - | - | - | - |
| Dividend per Share 1 | - | - | - | - | - | - | - | - | 0.5200 | - | 0.9360 |
| Announcement Date | 11/10/21 | 3/15/22 | 5/31/22 | 8/17/22 | 12/13/22 | 6/20/23 | 11/22/23 | - | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 6,145 | 2,353 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 1,017 | - | - | 2,075 | 2,480 | 2,863 |
| Leverage (Debt/EBITDA) | 2.111 x | 2.186 x | - | - | - | - | - | - |
| Free Cash Flow 1 | -828 | -298 | 2,546 | 98.8 | - | 2,792 | 1,763 | 2,271 |
| ROE (net income / shareholders' equity) | 42.9% | 9.84% | 34.5% | 9.81% | 16.2% | 11.6% | 12.1% | 11.6% |
| ROA (Net income/ Total Assets) | 14.5% | 4.56% | 12.5% | 3.74% | 6.47% | 5.05% | 5.6% | 5.5% |
| Assets 1 | 15,853 | 13,042 | 18,729 | 21,899 | 16,473 | 22,287 | 24,955 | 26,873 |
| Book Value Per Share 2 | 18.60 | 30.20 | 43.70 | - | - | 65.20 | 73.20 | 81.70 |
| Cash Flow per Share 2 | -4.140 | 25.50 | 20.10 | - | - | 1.660 | 6.340 | - |
| Capex 1 | 49.9 | 86.6 | 122 | - | - | 138 | 148 | - |
| Capex / Sales | 0.47% | 0.74% | 1.07% | - | - | 1.07% | 1.1% | - |
| Announcement Date | 3/24/20 | 3/19/21 | 3/15/22 | 3/13/23 | 3/20/24 | - | - | - |
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
OUTPERFORM
Number of Analysts
5
Last Close Price
13.33
CNY
Average target price
16.15
CNY
Spread / Average Target
+21.21%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -.--% | 303M | |
| +12.24% | 4.72B | |
| -1.11% | 2.56B | |
| +15.49% | 2.24B | |
| -2.34% | 1.13B | |
| +12.33% | 757M | |
| +13.11% | 567M | |
| -.--% | 294M | |
| +112.15% | 277M | |
| +3.53% | 239M |
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