Financials Chen Ke Ming Food Manufacturing Co., Ltd.

Equities

002661

CNE100001CF8

Food Processing

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
7.81 CNY +10.00% Intraday chart for Chen Ke Ming Food Manufacturing Co., Ltd. +11.10% -18.05%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 4,096 3,745 5,780 3,917 3,793 3,072
Enterprise Value (EV) 1 4,233 3,858 6,030 4,218 4,318 4,823
P/E ratio 21.9 x 18 x 19.8 x 58 x 24.6 x -47.7 x
Yield 2.03% 2.19% 1.69% 1.69% 1.7% -
Capitalization / Revenue 1.43 x 1.23 x 1.46 x 0.91 x 0.76 x 0.59 x
EV / Revenue 1.48 x 1.27 x 1.52 x 0.97 x 0.86 x 0.93 x
EV / EBITDA 14.4 x 11.9 x 12 x 19.2 x 11.4 x 20.1 x
EV / FCF -17.4 x 4.43 x -10.4 x 99.9 x -364 x 101 x
FCF Yield -5.76% 22.6% -9.62% 1% -0.27% 0.99%
Price to Book 1.83 x 1.62 x 2.26 x 1.51 x 1.46 x 1.28 x
Nbr of stocks (in thousands) 331,930 328,808 324,732 330,854 322,022 322,377
Reference price 2 12.34 11.39 17.80 11.84 11.78 9.530
Announcement Date 4/18/19 4/19/20 4/19/21 4/25/22 4/25/23 3/15/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,856 3,034 3,958 4,327 5,020 5,184
EBITDA 1 293.3 325 502.5 219.2 379.8 240
EBIT 1 208.3 212.8 365.8 44.93 193.2 -48.07
Operating Margin 7.29% 7.02% 9.24% 1.04% 3.85% -0.93%
Earnings before Tax (EBT) 1 224.9 245.8 368.7 76.75 188.7 -163.9
Net income 1 185.9 206.7 292.8 67.47 154.8 -65.65
Net margin 6.51% 6.81% 7.4% 1.56% 3.08% -1.27%
EPS 2 0.5630 0.6320 0.9010 0.2040 0.4790 -0.2000
Free Cash Flow 1 -243.8 870.1 -580 42.24 -11.86 47.97
FCF margin -8.53% 28.68% -14.65% 0.98% -0.24% 0.93%
FCF Conversion (EBITDA) - 267.75% - 19.27% - 19.99%
FCF Conversion (Net income) - 421.04% - 62.61% - -
Dividend per Share 2 0.2500 0.2500 0.3000 0.2000 0.2000 -
Announcement Date 4/18/19 4/19/20 4/19/21 4/25/22 4/25/23 3/15/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 137 113 250 301 525 1,751
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.4661 x 0.3485 x 0.4969 x 1.372 x 1.382 x 7.295 x
Free Cash Flow 1 -244 870 -580 42.2 -11.9 48
ROE (net income / shareholders' equity) 8.41% 9.21% 12.2% 2.61% 5.97% -6.24%
ROA (Net income/ Total Assets) 3.75% 3.29% 5.73% 0.73% 2.91% -0.49%
Assets 1 4,964 6,277 5,105 9,288 5,313 13,287
Book Value Per Share 2 6.750 7.050 7.870 7.820 8.040 7.430
Cash Flow per Share 2 1.260 1.540 1.310 0.7600 0.9800 1.400
Capex 1 528 405 424 392 416 480
Capex / Sales 18.49% 13.35% 10.72% 9.06% 8.28% 9.27%
Announcement Date 4/18/19 4/19/20 4/19/21 4/25/22 4/25/23 3/15/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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