Financials Topscore Fashion Co., Ltd.

Equities

603608

CNE1000025R1

Footwear

End-of-day quote Shanghai S.E. 06:00:00 2024-05-30 pm EDT 5-day change 1st Jan Change
2.53 CNY +4.98% Intraday chart for Topscore Fashion Co., Ltd. -8.33% -54.90%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 4,771 4,094 2,754 2,797 1,794 2,298
Enterprise Value (EV) 1 4,246 3,700 2,210 2,536 1,705 2,132
P/E ratio 19.8 x 19.4 x -5.84 x -43.5 x -9.95 x -80.1 x
Yield 2.26% - 5.45% - - -
Capitalization / Revenue 2.32 x 1.96 x 1.47 x 1.45 x 1.41 x 1.8 x
EV / Revenue 2.07 x 1.77 x 1.18 x 1.32 x 1.34 x 1.67 x
EV / EBITDA 15.6 x 14.8 x 19.4 x 101 x -14.7 x 92.1 x
EV / FCF -32.4 x 89.9 x 15.1 x -17.6 x -22.1 x 21.4 x
FCF Yield -3.09% 1.11% 6.63% -5.7% -4.53% 4.66%
Price to Book 2.21 x 1.9 x 1.61 x 1.74 x 1.34 x 1.77 x
Nbr of stocks (in thousands) 431,402 431,402 428,895 428,924 409,671 409,678
Reference price 2 11.06 9.490 6.420 6.520 4.380 5.610
Announcement Date 4/15/19 4/27/20 4/29/21 4/25/22 4/28/23 4/29/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,052 2,089 1,878 1,925 1,273 1,274
EBITDA 1 271.6 250.7 113.8 25.02 -116 23.15
EBIT 1 248.5 226 89.97 -0.3945 -149.5 -10.55
Operating Margin 12.11% 10.82% 4.79% -0.02% -11.74% -0.83%
Earnings before Tax (EBT) 1 280.1 239.6 -438.3 -55.63 -142.9 -15.19
Net income 1 242.2 207.4 -461.9 -64.61 -178.8 -30.16
Net margin 11.8% 9.93% -24.59% -3.36% -14.05% -2.37%
EPS 2 0.5600 0.4900 -1.100 -0.1500 -0.4400 -0.0700
Free Cash Flow 1 -131.2 41.13 146.5 -144.5 -77.27 99.44
FCF margin -6.39% 1.97% 7.8% -7.5% -6.07% 7.81%
FCF Conversion (EBITDA) - 16.41% 128.75% - - 429.63%
FCF Conversion (Net income) - 19.83% - - - -
Dividend per Share 2 0.2500 - 0.3500 - - -
Announcement Date 4/15/19 4/27/20 4/29/21 4/25/22 4/28/23 4/29/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 525 394 544 260 89 166
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -131 41.1 146 -144 -77.3 99.4
ROE (net income / shareholders' equity) 11.7% 9.59% -23.6% -3.83% -12.2% -2.1%
ROA (Net income/ Total Assets) 5.6% 5.26% 2.1% -0.01% -3.97% -0.31%
Assets 1 4,324 3,945 -21,982 694,748 4,505 9,763
Book Value Per Share 2 4.990 4.990 3.980 3.740 3.270 3.170
Cash Flow per Share 2 1.120 1.070 1.060 1.760 1.590 1.370
Capex 1 97.9 177 96.3 171 94.8 24.8
Capex / Sales 4.77% 8.49% 5.13% 8.89% 7.45% 1.94%
Announcement Date 4/15/19 4/27/20 4/29/21 4/25/22 4/28/23 4/29/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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