Financials China Aerospace Times Electronics CO., LTD.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
7.99 ^CNY	+3.77%		+9.75%	+3.63%

Apr. 28	China Aerospace Times Electronics CO., LTD. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 22	China Aerospace Times Electronics CO., LTD. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	16,261	20,340	22,407	18,491	25,438	26,361	-	-
Enterprise Value (EV) ¹	16,261	20,340	22,407	18,491	25,438	26,361	26,361	26,361
P/E ratio	35.4 x	42.5 x	40.8 x	30.2 x	43.6 x	30.2 x	26.9 x	23.5 x
Yield	-	-	-	-	0.62%	0.92%	1.38%	0.63%
Capitalization / Revenue	1.19 x	-	1.4 x	1.06 x	1.36 x	1.22 x	1.05 x	0.92 x
EV / Revenue	1.19 x	-	1.4 x	1.06 x	1.36 x	1.22 x	1.05 x	0.92 x
EV / EBITDA	16.6 x	-	20.7 x	12 x	23 x	13.1 x	13.7 x	10.8 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.31 x	-	1.69 x	1.18 x	1.26 x	1.2 x	1.13 x	1.17 x
Nbr of stocks (in thousands)	2,719,271	2,719,271	2,719,271	2,719,271	3,299,299	3,299,299	-	-
Reference price ²	5.980	7.480	8.240	6.800	7.710	7.990	7.990	7.990
Announcement Date	3/26/20	3/24/21	3/30/22	3/30/23	3/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	13,712	-	15,989	17,476	18,727	21,594	25,198	28,795
EBITDA ¹	977.9	-	1,082	1,547	1,107	2,012	1,921	2,451
EBIT ¹	576.7	-	629.1	669.8	588.9	816	1,020	1,248
Operating Margin	4.21%	-	3.93%	3.83%	3.14%	3.78%	4.05%	4.33%
Earnings before Tax (EBT) ¹	585.2	-	640.1	680	597.7	825	1,026	1,257
Net income ¹	458.3	478.5	549.2	610.5	524.8	786.8	915	1,124
Net margin	3.34%	-	3.43%	3.49%	2.8%	3.64%	3.63%	3.9%
EPS ²	0.1690	0.1760	0.2020	0.2250	0.1770	0.2650	0.2967	0.3400
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.0480	0.0733	0.1100	0.0500
Announcement Date	3/26/20	3/24/21	3/30/22	3/30/23	3/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	3.78%	-	4.24%	4.48%	2.98%	4.25%	4.9%	4.99%
ROA (Net income/ Total Assets)	1.66%	-	1.69%	1.57%	-	1.49%	1.83%	1.95%
Assets ¹	27,541	-	32,405	38,920	-	52,802	50,091	57,641
Book Value Per Share ²	4.550	-	4.880	5.750	6.140	6.670	7.090	6.830
Cash Flow per Share ²	0.1000	-	0.0900	-0.5100	-0.3100	0.7400	0.5600	0.9400
Capex ¹	526	-	449	886	588	668	675	683
Capex / Sales	3.84%	-	2.81%	5.07%	3.14%	3.09%	2.68%	2.37%
Announcement Date	3/26/20	3/24/21	3/30/22	3/30/23	3/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

7.99 CNY

Average target price

8.705 CNY

Spread / Average Target

+8.95%

	1st Jan change	Capi.
CHINA AEROSPACE TIMES ELECTRONICS CO., LTD.	+3.63%	3.64B
RTX CORPORATION	+20.53%	135B
GENERAL DYNAMICS CORPORATION	+9.53%	77.91B
NORTHROP GRUMMAN CORPORATION	+2.63%	71.1B
BAE SYSTEMS PLC	+21.79%	50.29B
ROLLS-ROYCE HOLDINGS PLC	+40.31%	43.87B
L3HARRIS TECHNOLOGIES, INC.	+1.86%	40.69B
HINDUSTAN AERONAUTICS LIMITED	+42.48%	31.95B
RHEINMETALL AG	+83.76%	24.31B
AXON ENTERPRISE, INC.	+19.32%	23.26B