Stock 603338 ZHEJIANG DINGLI MACHINERY CO.,LTD
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Financials Zhejiang Dingli Machinery Co.,Ltd

Equities

603338

CNE1000023M7

Heavy Machinery & Vehicles

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-05-21 pm EDT 		5-day change 1st Jan Change
67.6 CNY -2.10% Intraday chart for Zhejiang Dingli Machinery Co.,Ltd -5.19% +32.11%
Apr. 24 Zhejiang Dingli Machinery Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 24 Zhejiang Dingli Machinery Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 24,794 49,126 38,965 24,229 25,910 34,229 - -
Enterprise Value (EV) 1 24,398 48,359 36,626 22,224 22,833 29,757 28,868 27,585
P/E ratio 35.8 x 73.9 x 44.1 x 19.3 x 13.9 x 16.1 x 13.8 x 11.7 x
Yield 0.49% 0.26% 0.42% 1.04% 1.95% 1.41% 1.66% 1.94%
Capitalization / Revenue 10.4 x 16.6 x 7.89 x 4.45 x 4.1 x 4.51 x 3.78 x 3.34 x
EV / Revenue 10.2 x 16.4 x 7.42 x 4.08 x 3.62 x 3.92 x 3.19 x 2.69 x
EV / EBITDA 29.3 x 59.2 x 33.3 x - 9.91 x 11.8 x 9.74 x 7.93 x
EV / FCF - 73.5 x 1,097 x 190 x - 17 x 19 x 15.8 x
FCF Yield - 1.36% 0.09% 0.53% - 5.88% 5.26% 6.33%
Price to Book 7.73 x 13.1 x 6.8 x 3.43 x 2.89 x 3.22 x 2.74 x 2.26 x
Nbr of stocks (in thousands) 485,486 485,486 485,486 506,348 506,348 506,348 - -
Reference price 2 51.07 101.2 80.26 47.85 51.17 67.60 67.60 67.60
Announcement Date 4/28/20 4/28/21 4/28/22 4/9/23 4/24/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,389 2,957 4,939 5,445 6,312 7,590 9,060 10,237
EBITDA 1 832.7 816.7 1,099 - 2,304 2,511 2,963 3,477
EBIT 1 804.7 775.9 1,022 1,460 2,175 2,306 2,727 3,195
Operating Margin 33.68% 26.24% 20.69% 26.81% 34.46% 30.38% 30.1% 31.2%
Earnings before Tax (EBT) 1 804.9 773.5 1,021 1,460 2,174 2,509 2,879 3,428
Net income 1 694.1 664.1 884.5 1,257 1,867 2,137 2,489 2,946
Net margin 29.05% 22.46% 17.91% 23.09% 29.58% 28.16% 27.47% 28.78%
EPS 2 1.429 1.370 1.820 2.480 3.690 4.201 4.882 5.769
Free Cash Flow 1 - 658.2 33.4 117.1 - 1,751 1,519 1,746
FCF margin - 22.26% 0.68% 2.15% - 23.07% 16.77% 17.05%
FCF Conversion (EBITDA) - 80.6% 3.04% - - 69.73% 51.27% 50.2%
FCF Conversion (Net income) - 99.11% 3.78% 9.31% - 81.92% 61.04% 59.25%
Dividend per Share 2 0.2500 0.2600 0.3400 0.5000 1.000 0.9542 1.119 1.311
Announcement Date 4/28/20 4/28/21 4/28/22 4/9/23 4/24/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - 943.8 1,253 1,691 - 1,224 1,277 1,302 1,797 1,644 1,570 1,452 2,430 2,026 1,649 1,243 3,313
EBITDA 1 - 203.8 263.4 333.3 - 309 - - - - - - 934 831.7 288.7 482.5 1,122
EBIT 1 - 158.2 231.3 446 - 362.2 420.4 386 608.8 547.5 632.8 369 709.9 703.7 435.9 405.3 1,045
Operating Margin - 16.76% 18.46% 26.37% - 29.6% 32.92% 29.65% 33.89% 33.31% 40.31% 25.41% 29.21% 34.72% 26.43% 32.61% 31.54%
Earnings before Tax (EBT) - - - - - - - - - - - - - - - - -
Net income 1 408.5 154.6 195.7 378.4 574.1 302.4 380.8 319.5 512.2 461.8 573.6 302.2 805.9 783.3 122.7 356 853.6
Net margin - 16.38% 15.62% 22.37% - 24.71% 29.82% 24.54% 28.51% 28.1% 36.54% 20.82% 33.17% 38.66% 7.44% 28.64% 25.77%
EPS 2 - 0.3200 0.3900 0.7400 - 0.6000 0.7500 0.6300 1.010 0.9100 1.140 0.6000 1.255 1.277 1.183 0.7030 1.686
Dividend per Share 2 - 0.3400 - - - - 0.5000 - - - - - - - 1.000 - -
Announcement Date 8/17/20 4/28/22 4/28/22 8/11/22 8/11/22 10/28/22 4/9/23 4/26/23 8/17/23 10/27/23 4/24/24 4/24/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 396 767 2,339 2,005 3,077 4,472 5,361 6,644
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 658 33.4 117 - 1,751 1,519 1,746
ROE (net income / shareholders' equity) 24% 19.2% 20.9% 19.3% 23.4% 21.6% 20.9% 21%
ROA (Net income/ Total Assets) 16.3% 12.4% 11.5% 11.8% - 13.6% 13.6% 14.4%
Assets 1 4,246 5,364 7,722 10,688 - 15,688 18,345 20,530
Book Value Per Share 2 6.610 7.710 11.80 14.00 17.70 21.00 24.70 29.90
Cash Flow per Share 2 1.430 1.840 0.7400 1.850 4.400 3.420 4.530 5.260
Capex 1 285 234 340 820 371 588 604 581
Capex / Sales 11.93% 7.9% 6.89% 15.05% 5.88% 7.75% 6.66% 5.67%
Announcement Date 4/28/20 4/28/21 4/28/22 4/9/23 4/24/24 - - -
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

Ratings for Zhejiang Dingli Machinery Co.,Ltd

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
67.6 CNY
Average target price
76.71 CNY
Spread / Average Target
+13.47%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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