Stock 600298 ANGEL YEAST CO., LTD
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Financials Angel Yeast Co., Ltd

Equities

600298

CNE0000014G0

Food Processing

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
29.38 CNY +2.26% Intraday chart for Angel Yeast Co., Ltd -2.26% -16.49%
Apr. 19 Angel Yeast Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 02 Tranche Update on Angel Yeast Co., Ltd's Equity Buyback Plan announced on November 20, 2023. CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 25,275 42,086 50,271 39,295 30,563 25,200 - -
Enterprise Value (EV) 1 26,893 43,508 52,636 42,281 34,794 29,395 28,812 28,576
P/E ratio 28 x 30.7 x 38 x 28.9 x 23.9 x 19 x 15.7 x 14.5 x
Yield 1.3% 0.98% 0.83% 1.11% 1.42% 1.89% 2.38% 2.15%
Capitalization / Revenue 3.3 x 4.71 x 4.71 x 3.06 x 2.25 x 1.64 x 1.46 x 1.33 x
EV / Revenue 3.51 x 4.87 x 4.93 x 3.29 x 2.56 x 1.92 x 1.67 x 1.51 x
EV / EBITDA 17.1 x 20.4 x 25.7 x 19.3 x 15.5 x 12.4 x 10.8 x 9.74 x
EV / FCF 55.9 x 39.8 x -79.8 x -29.3 x -90.4 x 1,278 x 42.5 x 35.1 x
FCF Yield 1.79% 2.51% -1.25% -3.41% -1.11% 0.08% 2.35% 2.85%
Price to Book 5.02 x 7.15 x 7.26 x 4.24 x 3.03 x 2.28 x 2.03 x 1.86 x
Nbr of stocks (in thousands) 824,081 824,081 832,861 868,969 868,752 857,726 - -
Reference price 2 30.67 51.07 60.36 45.22 35.18 29.38 29.38 29.38
Announcement Date 3/30/20 3/25/21 3/28/22 3/30/23 3/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,653 8,933 10,675 12,843 13,581 15,342 17,227 18,895
EBITDA 1 1,569 2,135 2,050 2,187 2,249 2,369 2,678 2,935
EBIT 1 1,099 1,626 1,499 1,581 1,509 1,574 1,948 2,064
Operating Margin 14.36% 18.2% 14.04% 12.31% 11.11% 10.26% 11.31% 10.92%
Earnings before Tax (EBT) 1 1,109 1,627 1,517 1,595 1,526 1,617 1,976 2,114
Net income 1 901.5 1,372 1,309 1,321 1,270 1,344 1,626 1,756
Net margin 11.78% 15.35% 12.26% 10.29% 9.35% 8.76% 9.44% 9.29%
EPS 2 1.094 1.664 1.587 1.567 1.470 1.546 1.872 2.021
Free Cash Flow 1 480.8 1,092 -659.6 -1,443 -385 23 678.5 813
FCF margin 6.28% 12.23% -6.18% -11.24% -2.83% 0.15% 3.94% 4.3%
FCF Conversion (EBITDA) 30.65% 51.18% - - - 0.97% 25.33% 27.7%
FCF Conversion (Net income) 53.33% 79.65% - - - 1.71% 41.72% 46.31%
Dividend per Share 2 0.4000 0.5000 0.5000 0.5000 0.5000 0.5556 0.6988 0.6321
Announcement Date 3/30/20 3/25/21 3/28/22 3/30/23 3/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - - 3,059 2,892 3,861 3,397 3,317 2,939 3,928 3,483 3,644 3,424 4,655
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - - 506.6 420.1 383.3 313.4 392.1 387.2 317.8 280.8 415.6
Operating Margin - - - - 13.12% 12.37% 11.55% 10.66% 9.98% 11.12% 8.72% 8.2% 8.93%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS 2 0.3500 0.3789 0.4300 0.2600 0.5000 0.4094 0.3700 0.2800 0.4100 0.3700 0.3400 0.2800 0.4800
Dividend per Share - - - - - - - - - - - - -
Announcement Date 3/28/22 4/18/22 8/10/22 10/25/22 3/30/23 4/28/23 8/24/23 10/24/23 3/18/24 4/19/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,619 1,422 2,365 2,986 4,231 4,195 3,612 3,376
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.032 x 0.666 x 1.154 x 1.365 x 1.881 x 1.771 x 1.349 x 1.15 x
Free Cash Flow 1 481 1,092 -660 -1,443 -385 23 679 813
ROE (net income / shareholders' equity) 19.4% 25.2% 20.5% 16.5% 13% 12.4% 13.4% 13.4%
ROA (Net income/ Total Assets) 9.55% 13.2% 10.8% 8.7% - 6.58% 7.67% 8.25%
Assets 1 9,444 10,357 12,127 15,188 - 20,446 21,203 21,281
Book Value Per Share 2 6.100 7.150 8.320 10.70 11.60 12.90 14.50 15.80
Cash Flow per Share 2 1.570 2.270 1.600 1.230 1.520 2.570 2.590 3.080
Capex 1 815 777 1,978 2,512 1,706 1,760 1,421 1,237
Capex / Sales 10.65% 8.7% 18.53% 19.56% 12.56% 11.47% 8.25% 6.55%
Announcement Date 3/30/20 3/25/21 3/28/22 3/30/23 3/18/24 - - -
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 Angel Yeast Co., Ltd

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
29.38 CNY
Average target price
35.2 CNY
Spread / Average Target
+19.82%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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