BETHEL AUTOMOTIVE SAFETY SYSTEMS CO., LTD Financials Bethel Automotive Safety Systems Co., Ltd
Equities
603596
CNE1000030Y7
Auto, Truck & Motorcycle Parts
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 52.61 CNY | +0.96% |
|
+0.57% | -24.08% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 9,193 | 13,931 | 28,436 | 32,864 | 30,053 | 22,793 | - | - |
| Enterprise Value (EV) 1 | 9,193 | 13,931 | 28,436 | 31,245 | 28,060 | 20,169 | 19,414 | 17,891 |
| P/E ratio | 23 x | 30.3 x | 56.6 x | 47.2 x | 32.2 x | 19.5 x | 14.7 x | 11.9 x |
| Yield | - | - | 0.18% | 0.42% | 0.49% | 0.92% | 1.17% | 1.43% |
| Capitalization / Revenue | 2.91 x | 4.58 x | 8.14 x | 5.93 x | 4.02 x | 2.33 x | 1.86 x | 1.52 x |
| EV / Revenue | 2.91 x | 4.58 x | 8.14 x | 5.64 x | 3.75 x | 2.06 x | 1.58 x | 1.19 x |
| EV / EBITDA | - | 20.9 x | 41.2 x | 34.3 x | 22.6 x | 13 x | 9.55 x | 7 x |
| EV / FCF | - | - | 188 x | 174 x | -79.3 x | 13 x | 22.1 x | 8.69 x |
| FCF Yield | - | - | 0.53% | 0.58% | -1.26% | 7.67% | 4.52% | 11.5% |
| Price to Book | - | 5.19 x | 8.52 x | 8.07 x | 5.29 x | 3.42 x | 2.89 x | 2.35 x |
| Nbr of stocks (in thousands) | 408,561 | 407,096 | 408,561 | 411,827 | 433,668 | 433,252 | - | - |
| Reference price 2 | 22.50 | 34.22 | 69.60 | 79.80 | 69.30 | 52.61 | 52.61 | 52.61 |
| Announcement Date | 4/1/20 | 4/8/21 | 4/8/22 | 3/21/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,157 | 3,042 | 3,492 | 5,539 | 7,474 | 9,784 | 12,282 | 15,010 |
| EBITDA 1 | - | 667.8 | 690.1 | 911.1 | 1,241 | 1,557 | 2,033 | 2,557 |
| EBIT 1 | 529.3 | 564.6 | 574.6 | 748.1 | 1,015 | 1,300 | 1,712 | 2,172 |
| Operating Margin | 16.77% | 18.56% | 16.45% | 13.51% | 13.59% | 13.29% | 13.94% | 14.47% |
| Earnings before Tax (EBT) 1 | 527.5 | 563.8 | 576.2 | 762.9 | 1,017 | 1,310 | 1,717 | 2,157 |
| Net income 1 | 401.5 | 461.5 | 504.5 | 698.7 | 891.5 | 1,159 | 1,500 | 1,887 |
| Net margin | 12.72% | 15.17% | 14.45% | 12.61% | 11.93% | 11.84% | 12.22% | 12.57% |
| EPS 2 | 0.9800 | 1.130 | 1.230 | 1.690 | 2.150 | 2.693 | 3.578 | 4.413 |
| Free Cash Flow 1 | - | - | 151 | 179.9 | -354 | 1,546 | 877.5 | 2,060 |
| FCF margin | - | - | 4.32% | 3.25% | -4.74% | 15.8% | 7.14% | 13.72% |
| FCF Conversion (EBITDA) | - | - | 21.89% | 19.74% | - | 99.3% | 43.15% | 80.54% |
| FCF Conversion (Net income) | - | - | 29.94% | 25.74% | - | 133.45% | 58.49% | 109.12% |
| Dividend per Share 2 | - | - | 0.1280 | 0.3390 | 0.3400 | 0.4832 | 0.6154 | 0.7519 |
| Announcement Date | 4/1/20 | 4/8/21 | 4/8/22 | 3/21/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 787.2 | 1,164 | 1,014 | - | 1,595 | 3,094 | 2,011 | 2,368 | 1,955 | 2,079 | 2,621 | 3,087 | 2,488 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | 172.3 | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | - | - | - | 0.4200 | - | - | - | 0.7100 | 0.5200 | 0.5300 | 0.7400 | 0.8800 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/28/21 | 4/8/22 | 4/29/22 | 4/27/23 | 8/28/23 | 8/28/23 | 10/27/23 | 3/27/24 | - | - | - | - | - |
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 | - | - | - | 1,619 | 1,993 | 2,624 | 3,379 | 4,902 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | - | 151 | 180 | -354 | 1,546 | 878 | 2,060 |
| ROE (net income / shareholders' equity) | 19.2% | 18.7% | 16.2% | 18.1% | 18.9% | 17.5% | 19.3% | 19.8% |
| ROA (Net income/ Total Assets) | - | 10.3% | 9.24% | 9.38% | 9.19% | 8.83% | 9.84% | 9.93% |
| Assets 1 | - | 4,500 | 5,462 | 7,448 | 9,697 | 13,120 | 15,242 | 19,016 |
| Book Value Per Share 2 | - | 6.590 | 8.170 | 9.890 | 13.10 | 15.40 | 18.20 | 22.40 |
| Cash Flow per Share 2 | - | 1.430 | 1.060 | 1.910 | 1.560 | 3.570 | 3.950 | 5.240 |
| Capex 1 | 263 | 172 | 282 | 605 | 1,032 | 889 | 749 | 883 |
| Capex / Sales | 8.32% | 5.65% | 8.08% | 10.92% | 13.81% | 9.09% | 6.1% | 5.88% |
| Announcement Date | 4/1/20 | 4/8/21 | 4/8/22 | 3/21/23 | 3/27/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
D+
Sell
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
52.61
CNY
Average target price
84.31
CNY
Spread / Average Target
+60.25%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -24.08% | 3.15B | |
| +9.91% | 4.21B | |
| +226.41% | 3.18B | |
| +5.57% | 2.75B | |
| +33.25% | 2.24B | |
| -27.98% | 2.04B | |
| -20.08% | 1.26B | |
| -15.08% | 1.24B | |
| +50.22% | 1.13B | |
| -20.81% | 1.07B |
- Stock Market
- Equities
- 603596 Stock
- Financials Bethel Automotive Safety Systems Co., Ltd
