Financials China Kepei Education Group Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
1.37 ^HKD	+0.74%		-0.72%	+0.74%

Apr. 15	China Kepei Education Group Limited Announces Change of Principal Place of Business in Hong Kong	CI
2023	China Kepei Education Group Limited Not Recommend Dividend for the Year Ended 31 August 2023	CI

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,246	12,196	7,717	3,573	3,952	2,554	-	-
Enterprise Value (EV) ¹	6,245	11,439	7,717	4,489	4,803	2,554	2,554	2,554
P/E ratio	15.7 x	21.5 x	28.4 x	5.06 x	5.31 x	3.17 x	2.95 x	2.79 x
Yield	2.53%	1.68%	-	6.77%	-	9.41%	10.2%	11%
Capitalization / Revenue	10.1 x	14.1 x	-	2.48 x	2.6 x	1.54 x	1.43 x	1.33 x
EV / Revenue	10.1 x	14.1 x	-	2.48 x	2.6 x	1.54 x	1.43 x	1.33 x
EV / EBITDA	14.3 x	18.9 x	-	3.55 x	3.71 x	2.24 x	2.09 x	1.95 x
EV / FCF	22,054,883 x	30,083,032 x	-	3,717,137 x	5,696,746 x	-	-	-
FCF Yield	0%	0%	-	0%	0%	-	-	-
Price to Book	-	3.82 x	-	0.95 x	0.9 x	0.52 x	0.46 x	0.41 x
Nbr of stocks (in thousands)	2,000,799	2,015,249	2,015,249	2,015,249	2,014,249	2,014,249	-	-
Reference price ²	3.622	6.052	3.829	1.773	1.962	1.268	1.268	1.268
Announcement Date	3/27/20	3/29/21	12/31/21	11/30/22	11/30/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	714.2	867.3	-	1,440	1,517	1,655	1,786	1,927
EBITDA ¹	505.1	644.3	-	1,007	1,065	1,138	1,224	1,310
EBIT ¹	438.4	600.6	-	829.8	854.7	915.6	977.5	1,045
Operating Margin	61.38%	69.25%	-	57.63%	56.33%	55.33%	54.74%	54.24%
Earnings before Tax (EBT) ¹	458.2	561.8	-	731.8	751.7	813.2	921.4	1,016
Net income ¹	456.3	564.8	272.2	704.2	743.3	804.7	861.2	913.7
Net margin	63.88%	65.12%	-	48.91%	48.98%	48.62%	48.23%	47.41%
EPS ²	0.2300	0.2821	0.1350	0.3501	0.3694	0.4000	0.4300	0.4550
Free Cash Flow	328.6	405.4	-	961.2	693.7	-	-	-
FCF margin	46%	46.75%	-	66.77%	45.71%	-	-	-
FCF Conversion (EBITDA)	65.05%	62.93%	-	95.43%	65.11%	-	-	-
FCF Conversion (Net income)	72.01%	71.78%	-	136.5%	93.33%	-	-	-
Dividend per Share ²	0.0915	0.1014	-	0.1200	-	0.1193	0.1294	0.1391
Announcement Date	3/27/20	3/29/21	12/31/21	11/30/22	11/30/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	916	851	-	-	-
Net Cash position	1,001	758	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	0.9091 x	0.799 x	-	-	-
Free Cash Flow	329	405	-	961	694	-	-	-
ROE (net income / shareholders' equity)	21.6%	20.4%	-	21.6%	19.4%	16.4%	15.5%	14.8%
ROA (Net income/ Total Assets)	15.9%	15.5%	-	10.7%	10.7%	11.3%	12%	12.1%
Assets ¹	2,877	3,641	-	6,588	6,957	7,124	7,177	7,573
Book Value Per Share ²	-	1.590	-	1.860	2.180	2.460	2.760	3.070
Cash Flow per Share	-	0.3200	-	0.6300	0.5000	-	-	-
Capex ¹	210	231	-	571	390	305	305	231
Capex / Sales	29.46%	26.61%	-	39.67%	25.73%	18.41%	17.06%	11.98%
Announcement Date	3/27/20	3/29/21	12/31/21	11/30/22	11/30/23	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.268 CNY

Average target price

3.261 CNY

Spread / Average Target

+157.14%

	1st Jan change	Capi.
CHINA KEPEI EDUCATION GROUP LIMITED	+0.74%	353M
NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.	+13.62%	13.78B
TAL EDUCATION GROUP	+6.18%	8.56B
GRAND CANYON EDUCATION, INC.	-0.05%	3.9B
STRATEGIC EDUCATION, INC.	+31.06%	2.95B
STRIDE, INC.	+12.99%	2.85B
LAUREATE EDUCATION, INC.	+7.95%	2.33B
ADTALEM GLOBAL EDUCATION INC.	-15.73%	1.95B
GAOTU TECHEDU INC.	+85.08%	1.73B
BENESSE HOLDINGS, INC.	-0.63%	1.59B