Stock 002485 CEDAR DEVELOPMENT CO.,LTD.
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Financials Cedar Development Co.,Ltd.

Equities

002485

CNE100000VS3

Diversified Industrial Goods Wholesale

End-of-day quote Shenzhen S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
2.41 CNY -5.12% Intraday chart for Cedar Development Co.,Ltd. -2.03% -43.69%
Apr. 29 Cedar Development Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Cedar Development Co.,Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 4,129 3,748 2,774 2,540 1,676 2,328
Enterprise Value (EV) 1 4,099 3,661 2,775 3,028 2,366 2,467
P/E ratio 32 x 40.1 x -139 x -5.74 x -4.8 x -219 x
Yield 0.3% - - - - -
Capitalization / Revenue 2.4 x 1.05 x 1.82 x 1.26 x 0.98 x 3.07 x
EV / Revenue 2.38 x 1.02 x 1.82 x 1.5 x 1.39 x 3.25 x
EV / EBITDA 46.2 x 19.2 x -80.7 x 161 x -14.4 x -88.3 x
EV / FCF 26.7 x -11.6 x -7.64 x -14.4 x -8.98 x 5.52 x
FCF Yield 3.74% -8.64% -13.1% -6.95% -11.1% 18.1%
Price to Book 1.86 x 1.62 x 1.27 x 1.46 x 1.21 x 1.7 x
Nbr of stocks (in thousands) 544,000 544,000 544,000 544,000 544,000 544,000
Reference price 2 7.590 6.890 5.100 4.670 3.080 4.280
Announcement Date 4/15/19 4/27/20 4/28/21 4/29/22 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 1,720 3,585 1,526 2,016 1,707 758.2
EBITDA 1 88.68 191.1 -34.39 18.85 -164 -27.94
EBIT 1 81.45 179.8 -49.23 7.412 -178.5 -36.88
Operating Margin 4.74% 5.01% -3.23% 0.37% -10.46% -4.86%
Earnings before Tax (EBT) 1 189.9 234 -36.75 -469.3 -344.7 -10.49
Net income 1 128.9 93.57 -19.91 -443 -348.9 -10.63
Net margin 7.49% 2.61% -1.31% -21.97% -20.44% -1.4%
EPS 2 0.2369 0.1720 -0.0366 -0.8142 -0.6413 -0.0195
Free Cash Flow 1 153.3 -316.3 -363.1 -210.5 -263.5 446.6
FCF margin 8.91% -8.82% -23.8% -10.44% -15.44% 58.91%
FCF Conversion (EBITDA) 172.84% - - - - -
FCF Conversion (Net income) 118.92% - - - - -
Dividend per Share 2 0.0230 - - - - -
Announcement Date 4/15/19 4/27/20 4/28/21 4/29/22 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 - - 0.45 487 691 139
Net Cash position 1 29.6 86.9 - - - -
Leverage (Debt/EBITDA) - - -0.013 x 25.86 x -4.212 x -4.96 x
Free Cash Flow 1 153 -316 -363 -211 -263 447
ROE (net income / shareholders' equity) 6.63% 6.85% -1.44% -22.4% -22.3% -0.78%
ROA (Net income/ Total Assets) 1.77% 3.18% -0.86% 0.14% -3.75% -0.98%
Assets 1 7,284 2,945 2,305 -314,596 9,305 1,085
Book Value Per Share 2 4.090 4.250 4.010 3.190 2.550 2.510
Cash Flow per Share 2 0.1900 0.3600 0.1700 0.1100 0.1600 0.3200
Capex 1 290 158 63.4 167 84.8 13.9
Capex / Sales 16.87% 4.4% 4.15% 8.31% 4.97% 1.83%
Announcement Date 4/15/19 4/27/20 4/28/21 4/29/22 4/28/23 4/29/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Diversified Industrial Goods Wholesale

1st Jan change Capi.
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Diversified Industrial Goods Wholesale
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