BAIC MOTOR CORPORATION LIMITED |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.15 HKD | 0.00% |
|
-1.83% | -5.70% |
| Jun. 05 | China Approves Applications to Nine Auto Makers for Public Self-Driving Trials | MT |
| Jun. 05 | EV maker Nio gets regulatory nod for third factory in China, sources say | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 31,661 | 19,361 | 21,879 | 14,654 | 16,610 | 16,000 | - | - |
| Enterprise Value (EV) 1 | 5,950 | -8,327 | 3,294 | -2,260 | -1,239 | -7,110 | -14,380 | -19,457 |
| P/E ratio | 7.9 x | 10.1 x | 5.69 x | 3.52 x | 5.45 x | 4.42 x | 4.63 x | 4.22 x |
| Yield | 4.3% | 3.31% | 5.86% | 9.3% | 6.27% | 7.28% | 7.46% | 6.67% |
| Capitalization / Revenue | 0.18 x | 0.11 x | 0.12 x | 0.08 x | 0.08 x | 0.09 x | 0.09 x | 0.09 x |
| EV / Revenue | 0.03 x | -0.05 x | 0.02 x | -0.01 x | -0.01 x | -0.04 x | -0.08 x | -0.11 x |
| EV / EBITDA | 0.2 x | -0.27 x | 0.1 x | -0.06 x | -0.04 x | -0.23 x | -0.47 x | -0.66 x |
| EV / FCF | 0.22 x | -0.47 x | 0.74 x | -0.18 x | - | -0.62 x | -1.02 x | -1.4 x |
| FCF Yield | 462% | -212% | 135% | -550% | - | -161% | -97.8% | -71.6% |
| Price to Book | 0.63 x | 0.38 x | 0.42 x | 0.27 x | 0.29 x | 0.27 x | 0.26 x | 0.25 x |
| Nbr of stocks (in thousands) | 8,015,338 | 8,015,338 | 8,015,338 | 8,015,338 | 8,015,338 | 8,015,338 | - | - |
| Reference price 2 | 3.950 | 2.416 | 2.730 | 1.828 | 2.072 | 1.996 | 1.996 | 1.996 |
| Announcement Date | 3/26/20 | 3/24/21 | 3/24/22 | 3/24/23 | 3/22/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 174,633 | 176,973 | 175,916 | 190,463 | 197,949 | 187,901 | 187,137 | 177,290 |
| EBITDA 1 | 29,125 | 31,409 | 33,431 | 34,965 | 31,399 | 30,926 | 30,303 | 29,570 |
| EBIT 1 | 21,684 | 22,345 | 23,960 | 26,009 | 22,569 | 20,790 | 19,684 | 19,221 |
| Operating Margin | 12.42% | 12.63% | 13.62% | 13.66% | 11.4% | 11.06% | 10.52% | 10.84% |
| Earnings before Tax (EBT) 1 | 21,314 | 20,430 | 22,920 | 24,729 | 21,000 | 20,641 | 20,221 | 20,000 |
| Net income 1 | 4,083 | 2,029 | 3,858 | 4,197 | 3,030 | 3,541 | 3,382 | 3,794 |
| Net margin | 2.34% | 1.15% | 2.19% | 2.2% | 1.53% | 1.88% | 1.81% | 2.14% |
| EPS 2 | 0.5000 | 0.2400 | 0.4800 | 0.5200 | 0.3800 | 0.4513 | 0.4310 | 0.4735 |
| Free Cash Flow 1 | 27,513 | 17,650 | 4,457 | 12,429 | - | 11,412 | 14,065 | 13,926 |
| FCF margin | 15.75% | 9.97% | 2.53% | 6.53% | - | 6.07% | 7.52% | 7.85% |
| FCF Conversion (EBITDA) | 94.46% | 56.19% | 13.33% | 35.55% | - | 36.9% | 46.41% | 47.09% |
| FCF Conversion (Net income) | 673.89% | 869.94% | 115.53% | 296.16% | - | 322.3% | 415.83% | 367.01% |
| Dividend per Share 2 | 0.1700 | 0.0800 | 0.1600 | 0.1700 | 0.1300 | 0.1454 | 0.1489 | 0.1331 |
| Announcement Date | 3/26/20 | 3/24/21 | 3/24/22 | 3/24/23 | 3/22/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 S1 |
|---|---|---|---|---|---|---|---|
| Net sales | 86,869 | 77,854 | 99,119 | 90,375 | - | 85,540 | 83,679 |
| EBITDA | - | - | - | - | - | - | - |
| EBIT | - | - | 12,112 | 13,978 | - | 9,983 | 11,464 |
| Operating Margin | - | - | 12.22% | 15.47% | - | 11.67% | 13.7% |
| Earnings before Tax (EBT) | - | - | 11,342 | - | - | - | - |
| Net income 1 | - | 1,047 | 981.9 | - | 1,189 | 1,100 | 2,158 |
| Net margin | - | 1.34% | 0.99% | - | - | 1.29% | 2.58% |
| EPS | - | - | 0.1200 | - | - | - | 0.2700 |
| Dividend per Share | - | - | - | - | - | - | - |
| Announcement Date | 3/26/20 | 8/31/20 | 3/24/21 | 8/30/21 | 3/24/22 | 3/24/22 | 8/29/22 |
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 | 25,711 | 27,689 | 18,585 | 16,914 | 17,849 | 23,109 | 30,380 | 35,457 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 27,513 | 17,650 | 4,457 | 12,429 | - | 11,412 | 14,065 | 13,926 |
| ROE (net income / shareholders' equity) | 8.26% | 4.01% | 7.44% | 7.84% | 5.44% | 6.21% | 5.56% | 5.98% |
| ROA (Net income/ Total Assets) | 2.24% | 1.04% | 2.06% | 2.37% | 1.77% | 2.04% | 2.09% | 2.1% |
| Assets 1 | 182,622 | 195,048 | 187,290 | 177,109 | 171,051 | 173,597 | 161,826 | 180,668 |
| Book Value Per Share 2 | 6.290 | 6.370 | 6.560 | 6.800 | 7.110 | 7.420 | 7.700 | 7.880 |
| Cash Flow per Share 2 | 4.490 | 3.240 | 1.610 | 2.330 | - | 2.860 | 3.010 | 2.910 |
| Capex 1 | 8,440 | 8,358 | 8,445 | 6,225 | - | 8,616 | 8,579 | 9,247 |
| Capex / Sales | 4.83% | 4.72% | 4.8% | 3.27% | - | 4.59% | 4.58% | 5.22% |
| Announcement Date | 3/26/20 | 3/24/21 | 3/24/22 | 3/24/23 | 3/22/24 | - | - | - |
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-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
1.996
CNY
Average target price
2.037
CNY
Spread / Average Target
+2.03%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -5.70% | 2.21B | |
| +6.53% | 95.73B | |
| +23.12% | 74.93B | |
| -11.94% | 69B | |
| +24.16% | 48.35B | |
| +21.70% | 34.86B | |
| +3.25% | 22.1B | |
| -20.56% | 16.03B | |
| +42.93% | 11.48B | |
| -16.53% | 9.87B |
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