CHINA GAS HOLDINGS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.25 HKD | +1.83% |
|
+5.22% | -5.97% |
| Apr. 15 | News Highlights : Top Energy News of the Day - Monday at 4 AM ET | DJ |
| Apr. 15 | News Highlights : Top Energy News of the Day - Monday at 12 AM ET | DJ |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 144,032 | 140,901 | 166,014 | 54,622 | 60,170 | 39,408 | - | - |
| Enterprise Value (EV) 1 | 168,692 | 173,770 | 208,425 | 102,206 | 111,118 | 89,147 | 89,539 | 89,596 |
| P/E ratio | 16.9 x | 15.3 x | 15.8 x | 7.22 x | 13.8 x | 9 x | 7.85 x | 7.17 x |
| Yield | 1.59% | 1.85% | 1.73% | 5.48% | 4.97% | 6.72% | 7.14% | 7.48% |
| Capitalization / Revenue | 2.43 x | 2.37 x | 2.37 x | 0.62 x | 0.65 x | 0.45 x | 0.43 x | 0.41 x |
| EV / Revenue | 2.84 x | 2.92 x | 2.98 x | 1.16 x | 1.21 x | 1.01 x | 0.97 x | 0.93 x |
| EV / EBITDA | 13.9 x | 11.7 x | 13.8 x | 7.63 x | 10.6 x | 8.61 x | 8 x | 7.58 x |
| EV / FCF | 111 x | -341 x | 1,366 x | 95.9 x | 26.8 x | 17.7 x | 27.6 x | 24.6 x |
| FCF Yield | 0.9% | -0.29% | 0.07% | 1.04% | 3.73% | 5.66% | 3.63% | 4.06% |
| Price to Book | 3.95 x | 3.56 x | 3.2 x | 0.87 x | 1.04 x | 0.66 x | 0.63 x | 0.61 x |
| Nbr of stocks (in thousands) | 5,218,563 | 5,218,563 | 5,212,369 | 5,440,436 | 5,440,336 | 5,435,573 | - | - |
| Reference price 2 | 27.60 | 27.00 | 31.85 | 10.04 | 11.06 | 7.250 | 7.250 | 7.250 |
| Announcement Date | 6/20/19 | 6/26/20 | 6/28/21 | 6/24/22 | 6/26/23 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 59,386 | 59,540 | 69,975 | 88,225 | 91,988 | 88,200 | 92,357 | 96,328 |
| EBITDA 1 | 12,142 | 14,901 | 15,052 | 13,401 | 10,462 | 10,349 | 11,185 | 11,820 |
| EBIT 1 | 10,816 | 13,137 | 12,913 | 10,809 | 7,650 | 7,640 | 8,251 | 8,649 |
| Operating Margin | 18.21% | 22.06% | 18.45% | 12.25% | 8.32% | 8.66% | 8.93% | 8.98% |
| Earnings before Tax (EBT) 1 | 11,183 | 12,725 | 14,090 | 10,787 | 6,038 | 6,248 | 7,149 | 7,817 |
| Net income 1 | 8,224 | 9,188 | 10,479 | 7,662 | 4,293 | 4,320 | 4,979 | 5,461 |
| Net margin | 13.85% | 15.43% | 14.97% | 8.68% | 4.67% | 4.9% | 5.39% | 5.67% |
| EPS 2 | 1.630 | 1.760 | 2.010 | 1.390 | 0.8000 | 0.8056 | 0.9241 | 1.011 |
| Free Cash Flow 1 | 1,514 | -509.4 | 152.5 | 1,066 | 4,149 | 5,048 | 3,250 | 3,635 |
| FCF margin | 2.55% | -0.86% | 0.22% | 1.21% | 4.51% | 5.72% | 3.52% | 3.77% |
| FCF Conversion (EBITDA) | 12.47% | - | 1.01% | 7.95% | 39.66% | 48.78% | 29.06% | 30.75% |
| FCF Conversion (Net income) | 18.41% | - | 1.46% | 13.91% | 96.63% | 116.85% | 65.27% | 66.57% |
| Dividend per Share 2 | 0.4400 | 0.5000 | 0.5500 | 0.5500 | 0.5500 | 0.4874 | 0.5174 | 0.5422 |
| Announcement Date | 6/20/19 | 6/26/20 | 6/28/21 | 6/24/22 | 6/26/23 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 27,926 | 31,614 | 27,165 | 42,810 | 38,947 | 49,278 | 42,976 | 49,012 | 36,049 | 54,710 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 6,376 | 6,761 | 6,790 | 6,480 | 5,255 | 4,967 | 4,171 | - | 2,475 | 4,495 |
| Operating Margin | 22.83% | 21.39% | 25% | 15.14% | 13.49% | 10.08% | 9.7% | - | 6.87% | 8.22% |
| Earnings before Tax (EBT) 1 | - | 6,135 | 5,638 | 7,207 | - | - | 4,384 | 1,654 | - | 3,774 |
| Net income 1 | 4,910 | 4,279 | 5,090 | 5,389 | 4,105 | - | 3,260 | 1,033 | 1,830 | 2,549 |
| Net margin | 17.58% | 13.53% | 18.74% | 12.59% | 10.54% | - | 7.59% | 2.11% | 5.08% | 4.66% |
| EPS | 0.9408 | - | 0.9753 | 1.035 | 0.7435 | 0.6465 | 0.5992 | 0.2008 | - | - |
| Dividend per Share | - | - | - | 0.4500 | - | 0.4500 | - | 0.4500 | - | - |
| Announcement Date | 11/25/19 | 6/26/20 | 11/27/20 | 6/28/21 | 11/29/21 | 6/24/22 | 11/25/22 | 6/26/23 | 11/27/23 | - |
1HKD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 24,660 | 32,869 | 42,411 | 47,584 | 50,948 | 49,739 | 50,131 | 50,188 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.031 x | 2.206 x | 2.818 x | 3.551 x | 4.87 x | 4.806 x | 4.482 x | 4.246 x |
| Free Cash Flow 1 | 1,514 | -509 | 153 | 1,066 | 4,149 | 5,048 | 3,250 | 3,635 |
| ROE (net income / shareholders' equity) | 25.8% | 24.5% | 22.9% | 13.9% | 7.07% | 7.48% | 8.19% | 8.58% |
| ROA (Net income/ Total Assets) | 8.57% | 8.28% | 8.29% | 5.3% | 2.68% | 2.88% | 3.29% | 3.61% |
| Assets 1 | 95,969 | 110,983 | 126,417 | 144,569 | 160,217 | 149,991 | 151,291 | 151,225 |
| Book Value Per Share 2 | 6.990 | 7.590 | 9.960 | 11.60 | 10.60 | 11.00 | 11.50 | 11.90 |
| Cash Flow per Share 2 | 2.000 | 1.240 | 1.590 | 1.800 | 1.860 | 1.730 | 1.600 | 1.480 |
| Capex 1 | 8,603 | 6,995 | 7,085 | 8,656 | 5,879 | 6,636 | 6,320 | 5,838 |
| Capex / Sales | 14.49% | 11.75% | 10.13% | 9.81% | 6.39% | 7.52% | 6.84% | 6.06% |
| Announcement Date | 6/20/19 | 6/26/20 | 6/28/21 | 6/24/22 | 6/26/23 | - | - | - |
1HKD in Million2HKD
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
7.25
HKD
Average target price
8.251
HKD
Spread / Average Target
+13.81%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -5.97% | 5.03B | |
| +0.89% | 17.64B | |
| +28.35% | 16.4B | |
| -6.96% | 12.12B | |
| +10.84% | 9.16B | |
| +16.20% | 8.89B | |
| +3.56% | 7.48B | |
| -2.58% | 6.96B | |
| +8.30% | 6.51B | |
| +7.30% | 4.96B |
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