Financials Ningxia Building Materials Group Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-23 pm EDT			5-day change	1st Jan Change
13.5 ^CNY	-2.81%		-8.72%	-24.71%

Apr. 23	Ningxia Building Materials Group Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 27	Ningxia Building Materials Group Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,337	6,341	5,753	5,676	8,574	6,455	-	-
Enterprise Value (EV) ¹	5,337	6,341	5,753	5,676	8,574	6,455	6,455	6,455
P/E ratio	6.93 x	6.56 x	7.16 x	10.7 x	28.9 x	18 x	15.5 x	13.6 x
Yield	4.57%	5.05%	4.49%	-	-	-	-	-
Capitalization / Revenue	1.11 x	1.24 x	0.99 x	0.66 x	0.82 x	0.51 x	0.46 x	0.41 x
EV / Revenue	1.11 x	1.24 x	0.99 x	0.66 x	0.82 x	0.51 x	0.46 x	0.41 x
EV / EBITDA	4.02 x	-	4.52 x	5.43 x	11.8 x	8.05 x	7.21 x	6.59 x
EV / FCF	-	-	5,151,299 x	-	-	-	-	-
FCF Yield	-	-	0%	-	-	-	-	-
Price to Book	0.96 x	1 x	0.85 x	0.81 x	1.2 x	0.87 x	0.83 x	0.79 x
Nbr of stocks (in thousands)	478,181	478,181	478,181	478,181	478,181	478,181	-	-
Reference price ²	11.16	13.26	12.03	11.87	17.93	13.50	13.50	13.50
Announcement Date	3/20/20	3/5/21	3/9/22	3/21/23	3/27/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,790	5,110	5,783	8,658	10,410	12,638	14,045	15,646
EBITDA ¹	1,327	-	1,273	1,045	726.4	802.3	895.4	979.5
EBIT ¹	987.5	1,217	1,036	790.2	380.2	479	556.3	619.4
Operating Margin	20.61%	23.81%	17.92%	9.13%	3.65%	3.79%	3.96%	3.96%
Earnings before Tax (EBT) ¹	1,034	1,241	1,033	731.7	384	459.7	531.6	606.1
Net income ¹	768.9	964.9	801.2	529	297.4	359.4	414.3	471.8
Net margin	16.05%	18.88%	13.86%	6.11%	2.86%	2.84%	2.95%	3.02%
EPS ²	1.610	2.020	1.680	1.110	0.6200	0.7500	0.8700	0.9900
Free Cash Flow	-	-	1,117	-	-	-	-	-
FCF margin	-	-	19.31%	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	87.71%	-	-	-	-	-
FCF Conversion (Net income)	-	-	139.37%	-	-	-	-	-
Dividend per Share	0.5100	0.6700	0.5400	-	-	-	-	-
Announcement Date	3/20/20	3/5/21	3/9/22	3/21/23	3/27/24	-	-	-

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	-	-	1,117	-	-	-	-	-
ROE (net income / shareholders' equity)	14.7%	16.4%	12.4%	7.69%	4.21%	4.84%	5.34%	5.78%
ROA (Net income/ Total Assets)	10.5%	12.2%	-	-	-	-	-	-
Assets ¹	7,325	7,905	-	-	-	-	-	-
Book Value Per Share ²	11.70	13.20	14.10	14.70	14.90	15.50	16.20	17.10
Cash Flow per Share ²	2.070	2.280	2.780	1.650	1.660	1.000	3.960	0.1100
Capex ¹	-	211	213	-	-	79.9	73.8	8.54
Capex / Sales	-	4.14%	3.69%	-	-	0.63%	0.53%	0.05%
Announcement Date	3/20/20	3/5/21	3/9/22	3/21/23	3/27/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.5 CNY

Average target price

20.2 CNY

Spread / Average Target

+49.63%

	1st Jan change	Capi.
NINGXIA BUILDING MATERIALS GROUP CO.,LTD	-24.71%	891M
HOLCIM LTD	+21.54%	49.32B
ANHUI CONCH CEMENT COMPANY LIMITED	+8.54%	16.67B
JAMES HARDIE INDUSTRIES PLC	-16.34%	13.59B
SHREE CEMENT LIMITED	-11.16%	11.06B
EAGLE MATERIALS INC.	+17.47%	8.08B
TAIWAN CEMENT CORP.	-2.30%	7.96B
BUZZI S.P.A.	+42.99%	7.9B
DANGOTE CEMENT PLC	+105.28%	7.46B
TIANSHAN MATERIAL CO., LTD.	-7.19%	7.42B