CHINA FEIHE LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.33 HKD | +2.85% |
|
+5.35% | +1.41% |
| Apr. 11 | China Feihe Arm Invests 500 Million Yuan in Financial Product | MT |
| Mar. 29 | China Feihe Posts Lower Profit, Revenue in 2023 | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 73,049 | 136,541 | 75,898 | 53,179 | 36,343 | 36,343 | - |
| Enterprise Value (EV) 1 | 65,277 | 127,663 | 59,841 | 35,375 | 17,398 | 23,305 | 21,608 |
| P/E ratio | 18.6 x | 18.6 x | 11.4 x | 10.7 x | 10.5 x | 9.49 x | 8.53 x |
| Yield | 2.17% | 1.62% | 4.61% | 4.26% | 6.74% | 7.07% | 7.96% |
| Capitalization / Revenue | 5.32 x | 7.34 x | 3.33 x | 2.5 x | 1.8 x | 1.79 x | 1.69 x |
| EV / Revenue | 4.76 x | 6.87 x | 2.63 x | 1.66 x | 0.89 x | 1.15 x | 1.01 x |
| EV / EBITDA | 13 x | 17.4 x | 7.03 x | 5.56 x | 3.88 x | 3.92 x | 3.4 x |
| EV / FCF | 18.1 x | 14.9 x | 12.2 x | 9.24 x | 7.19 x | 7.84 x | 6.56 x |
| FCF Yield | 5.52% | 6.71% | 8.16% | 10.8% | 13.9% | 12.8% | 15.2% |
| Price to Book | 5.61 x | 7.69 x | 3.64 x | 2.22 x | 1.41 x | 1.36 x | 1.27 x |
| Nbr of stocks (in thousands) | 8,933,340 | 8,933,340 | 8,905,216 | 9,068,252 | 9,067,252 | 9,067,252 | - |
| Reference price 2 | 8.177 | 15.28 | 8.523 | 5.864 | 4.008 | 4.008 | 4.008 |
| Announcement Date | 3/23/20 | 3/18/21 | 3/28/22 | 3/28/23 | 3/28/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,392 | 13,722 | 18,592 | 22,776 | 21,311 | 19,532 | 20,318 | 21,467 |
| EBITDA 1 | - | 5,030 | 7,319 | 8,513 | 6,365 | 6,096 | 5,947 | 6,354 |
| EBIT 1 | - | 4,848 | 7,056 | 8,070 | 5,735 | 4,091 | 5,495 | 5,810 |
| Operating Margin | - | 35.33% | 37.95% | 35.43% | 26.91% | 20.95% | 27.04% | 27.07% |
| Earnings before Tax (EBT) 1 | - | 5,683 | 9,900 | 9,672 | 6,663 | 4,850 | 5,399 | 6,083 |
| Net income 1 | - | 3,935 | 7,440 | 6,871 | 4,942 | 3,390 | 3,808 | 4,310 |
| Net margin | - | 28.67% | 40.02% | 30.17% | 23.19% | 17.36% | 18.74% | 20.08% |
| EPS 2 | - | 0.4404 | 0.8200 | 0.7500 | 0.5500 | 0.3700 | 0.4223 | 0.4699 |
| Free Cash Flow 1 | - | 3,605 | 8,571 | 4,885 | 3,830 | 3,294 | 2,973 | 3,294 |
| FCF margin | - | 26.27% | 46.1% | 21.45% | 17.97% | 15.56% | 14.63% | 15.35% |
| FCF Conversion (EBITDA) | - | 71.68% | 117.12% | 57.39% | 60.18% | 54.03% | 50% | 51.85% |
| FCF Conversion (Net income) | - | 91.63% | 115.21% | 71.1% | 77.5% | 76.76% | 78.07% | 76.43% |
| Dividend per Share 2 | - | 0.1772 | 0.2481 | 0.3932 | 0.2498 | 0.2616 | 0.2834 | 0.3190 |
| Announcement Date | 10/29/19 | 3/23/20 | 3/18/21 | 3/28/22 | 3/28/23 | 3/28/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,707 | 9,886 | 11,544 | 11,233 | 9,673 | 11,638 | 9,735 | 9,797 | 9,795 | 10,473 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 3,603 | 4,518 | 3,553 | 2,681 | 3,054 | 2,099 | 1,993 | 2,732 | 2,933 |
| Operating Margin | - | 36.45% | 39.13% | 31.63% | 27.72% | 26.24% | 21.56% | 20.34% | 27.89% | 28% |
| Earnings before Tax (EBT) 1 | - | 5,931 | - | - | 3,235 | 3,428 | 2,435 | 2,415 | 2,494 | 2,819 |
| Net income | 2,753 | 4,684 | - | - | 2,256 | 2,686 | 1,696 | 1,694 | - | - |
| Net margin | 31.62% | 47.38% | - | - | 23.32% | 23.08% | 17.42% | 17.29% | - | - |
| EPS 2 | - | - | - | - | 0.2500 | - | 0.1900 | 0.1800 | 0.2000 | 0.2200 |
| Dividend per Share 2 | - | - | - | - | - | - | 0.1254 | 0.1370 | 0.1200 | 0.1500 |
| Announcement Date | 8/18/20 | 3/18/21 | 8/18/21 | 3/28/22 | 8/29/22 | 3/28/23 | 8/28/23 | 3/28/24 | - | - |
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 | 7,772 | 8,878 | 16,057 | 17,804 | 17,792 | 13,037 | 14,735 | 15,144 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 3,605 | 8,571 | 4,885 | 3,830 | - | 2,973 | 3,294 | 4,207 |
| ROE (net income / shareholders' equity) | 41.8% | 39.3% | 36.4% | 22% | 14.1% | 14.1% | 14.8% | 13.8% |
| ROA (Net income/ Total Assets) | 22.6% | 23.6% | 23.5% | 14.8% | 9.62% | 9.78% | 10.9% | 10.3% |
| Assets 1 | 17,431 | 31,584 | 29,180 | 33,499 | 35,222 | 38,931 | 39,561 | 41,009 |
| Book Value Per Share 2 | 1.460 | 1.990 | 2.340 | 2.650 | 2.750 | 2.950 | 3.150 | 3.180 |
| Cash Flow per Share 2 | 0.6300 | 0.8500 | 0.7500 | 0.6100 | - | 0.4800 | 0.4800 | 0.5400 |
| Capex 1 | 1,575 | 861 | 1,930 | 2,449 | - | 1,535 | 1,202 | 1,363 |
| Capex / Sales | 11.48% | 4.63% | 8.47% | 11.49% | - | 7.56% | 5.6% | 6.27% |
| Announcement Date | 3/23/20 | 3/18/21 | 3/28/22 | 3/28/23 | 3/28/24 | - | - | - |
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
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
4.008
CNY
Average target price
4.323
CNY
Spread / Average Target
+7.86%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +1.41% | 5.02B | |
| +4.71% | 24.52B | |
| -23.24% | 8.1B | |
| +8.16% | 6.26B | |
| -3.85% | 5.36B | |
| -3.18% | 5.16B | |
| +19.79% | 4.98B | |
| +22.01% | 4.53B | |
| -3.99% | 2.92B | |
| +41.30% | 2.79B |
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