Financials EIT Environmental Development Group Co.,Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
13.37 ^CNY	+0.22%		+0.68%	-8.42%

May. 20	EIT Environmental Development Group Co.,Ltd Approves Cash Dividend for the Year 2023	CI
Apr. 26	EIT Environmental Development Group Co.,Ltd Proposes Final Cash Dividend for the Year 2023	CI

Fiscal Period: December	2020	2021	2023	2024	2025	2026
Capitalization ¹	12,857	8,465	5,819	5,329	-	-
Enterprise Value (EV) ¹	12,857	8,465	5,819	5,329	5,329	5,329
P/E ratio	19.9 x	17.9 x	11.1 x	7.98 x	6.95 x	6.16 x
Yield	1.21%	0.84%	-	-	-	-
Capitalization / Revenue	2.98 x	1.75 x	0.94 x	0.75 x	0.66 x	0.6 x
EV / Revenue	2.98 x	1.75 x	0.94 x	0.75 x	0.66 x	0.6 x
EV / EBITDA	11.9 x	10.4 x	5.6 x	4.21 x	3.66 x	3.31 x
EV / FCF	-	-	-	8.3 x	6.28 x	4.75 x
FCF Yield	-	-	-	12%	15.9%	21.1%
Price to Book	5.03 x	2.94 x	1.61 x	1.27 x	1.09 x	0.96 x
Nbr of stocks (in thousands)	398,594	398,594	398,592	398,592	-	-
Reference price ²	32.26	21.24	14.60	13.37	13.37	13.37
Announcement Date	3/29/21	3/28/22	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,595	4,315	4,834	-	6,161	7,133	8,026	8,901
EBITDA ¹	-	1,080	816.6	-	1,039	1,267	1,458	1,610
EBIT ¹	-	896.9	673.1	-	759.2	955.5	1,101	1,254
Operating Margin	-	20.78%	13.92%	-	12.32%	13.39%	13.72%	14.09%
Earnings before Tax (EBT) ¹	-	865.7	661.7	-	744.9	944.7	1,091	1,242
Net income ¹	-	631	472.5	494.3	521.1	667.1	766.5	866.3
Net margin	-	14.62%	9.78%	-	8.46%	9.35%	9.55%	9.73%
EPS ²	-	1.618	1.188	-	1.310	1.675	1.922	2.170
Free Cash Flow ¹	-	-	-	-	-	642	848	1,122
FCF margin	-	-	-	-	-	9%	10.57%	12.61%
FCF Conversion (EBITDA)	-	-	-	-	-	50.68%	58.16%	69.69%
FCF Conversion (Net income)	-	-	-	-	-	96.24%	110.63%	129.52%
Dividend per Share	-	0.3889	0.1778	-	-	-	-	-
Announcement Date	4/27/20	3/29/21	3/28/22	4/24/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	-	642	848	1,122
ROE (net income / shareholders' equity)	37.3%	29%	17.4%	16%	15%	15.9%	15.7%	15.6%
ROA (Net income/ Total Assets)	-	17.5%	9.67%	-	-	8.05%	8.13%	8.04%
Assets ¹	-	3,602	4,885	-	-	8,286	9,428	10,775
Book Value Per Share ²	-	6.420	7.230	-	9.090	10.50	12.20	13.90
Cash Flow per Share ²	-	1.310	1.550	-	0.8200	1.660	1.950	2.650
Capex ¹	-	384	466	-	447	297	278	319
Capex / Sales	-	8.9%	9.64%	-	7.26%	4.16%	3.46%	3.58%
Announcement Date	4/27/20	3/29/21	3/28/22	4/24/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.37 CNY

Average target price

18.76 CNY

Spread / Average Target

+40.31%

	1st Jan change	Capi.
EIT ENVIRONMENTAL DEVELOPMENT GROUP CO.,LTD	-8.42%	736M
WASTE MANAGEMENT, INC.	+17.66%	84.57B
VERALTO CORPORATION	+19.84%	24.33B
CLEAN HARBORS, INC.	+24.11%	11.68B
TETRA TECH, INC.	+25.50%	11.21B
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S.A.	+2.88%	7.08B
KURITA WATER INDUSTRIES LTD.	+21.74%	4.8B
GEM CO., LTD.	+20.15%	4.63B
CECEP ENVIRONMENTAL PROTECTION CO., LTD.	-7.46%	2.93B
BEIJING ORIGINWATER TECHNOLOGY CO., LTD.	-6.21%	2.34B