CHINA MERCHANTS ENERGY SHIPPING CO., LTD. Financials China Merchants Energy Shipping Co., Ltd.
Equities
601872
CNE000001PQ8
Marine Freight & Logistics
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8.58 CNY | +0.35% |
|
-3.27% | +45.92% |
| Apr. 04 | CMES to Build, Lease Ships for QatarEnergy for 10 Billion Yuan | MT |
| Mar. 29 | China Merchants Energy Shipping's 2023 Profit Falls 5% as Revenue Slips 13% | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 50,110 | 38,082 | 33,242 | 45,426 | 47,886 | 69,874 | - | - |
| Enterprise Value (EV) 1 | 70,002 | 57,722 | 50,053 | 61,284 | 62,980 | 87,190 | 87,806 | 86,019 |
| P/E ratio | 30.6 x | 13.8 x | 8.54 x | 9.16 x | 9.8 x | 10.4 x | 9.69 x | 8.92 x |
| Yield | 1.21% | 2.19% | 2.68% | 3.4% | 4.05% | 2.93% | 3.11% | 4.27% |
| Capitalization / Revenue | 3.44 x | 2.11 x | 1.36 x | 1.53 x | 1.85 x | 2.42 x | 2.31 x | 2.17 x |
| EV / Revenue | 4.81 x | 3.19 x | 2.05 x | 2.06 x | 2.43 x | 3.02 x | 2.9 x | 2.67 x |
| EV / EBITDA | 14.8 x | 10.6 x | 7.3 x | 7.21 x | 7.94 x | 7.7 x | 7.27 x | 6.89 x |
| EV / FCF | 101 x | - | - | 11.6 x | 13.6 x | 21.6 x | 12.7 x | 11.7 x |
| FCF Yield | 0.99% | - | - | 8.66% | 7.34% | 4.64% | 7.89% | 8.55% |
| Price to Book | 1.98 x | 1.49 x | 1.26 x | 1.37 x | 1.3 x | 1.68 x | 1.49 x | 1.34 x |
| Nbr of stocks (in thousands) | 7,279,964 | 8,088,176 | 8,107,842 | 8,126,250 | 8,143,806 | 8,143,806 | - | - |
| Reference price 2 | 6.883 | 4.708 | 4.100 | 5.590 | 5.880 | 8.580 | 8.580 | 8.580 |
| Announcement Date | 4/2/20 | 3/25/21 | 3/27/22 | 3/29/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 14,556 | 18,073 | 24,412 | 29,708 | 25,881 | 28,847 | 30,301 | 32,223 |
| EBITDA 1 | 4,719 | 5,464 | 6,852 | 8,497 | 7,932 | 11,328 | 12,082 | 12,487 |
| EBIT 1 | 1,684 | 2,983 | 4,390 | 5,988 | 5,272 | 7,733 | 8,321 | 9,050 |
| Operating Margin | 11.57% | 16.5% | 17.98% | 20.15% | 20.37% | 26.81% | 27.46% | 28.09% |
| Earnings before Tax (EBT) 1 | 1,676 | 2,951 | 4,343 | 5,934 | 5,415 | 7,694 | 8,284 | 9,026 |
| Net income 1 | 1,613 | 2,777 | 3,609 | 5,086 | 4,837 | 6,717 | 7,224 | 7,837 |
| Net margin | 11.08% | 15.37% | 14.78% | 17.12% | 18.69% | 23.28% | 23.84% | 24.32% |
| EPS 2 | 0.2250 | 0.3417 | 0.4800 | 0.6100 | 0.6000 | 0.8251 | 0.8852 | 0.9621 |
| Free Cash Flow 1 | 695.8 | - | - | 5,306 | 4,624 | 4,044 | 6,931 | 7,358 |
| FCF margin | 4.78% | - | - | 17.86% | 17.86% | 14.02% | 22.87% | 22.84% |
| FCF Conversion (EBITDA) | 14.74% | - | - | 62.44% | 58.29% | 35.7% | 57.36% | 58.93% |
| FCF Conversion (Net income) | 43.14% | - | - | 104.32% | 95.59% | 60.21% | 95.95% | 93.9% |
| Dividend per Share 2 | 0.0833 | 0.1033 | 0.1100 | 0.1900 | 0.2380 | 0.2512 | 0.2666 | 0.3662 |
| Announcement Date | 4/2/20 | 3/25/21 | 3/27/22 | 3/29/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | 950.1 | 630.2 | 2,029 | 1,305 | 1,584 | 2,889 | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 1 | - | 0.0600 | 0.2800 | 0.1600 | 0.2000 | - | 0.1200 | 0.1300 | 0.1400 | 0.2000 | 0.1200 | 0.1400 | 0.2100 | 0.1600 | 0.1500 | 0.2400 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/25/21 | 10/29/21 | 3/27/22 | 4/29/22 | 8/30/22 | 8/30/22 | 10/19/22 | 3/29/23 | 4/28/23 | 8/28/23 | 10/30/23 | 3/27/24 | - | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 19,892 | 19,641 | 16,811 | 15,858 | 15,094 | 17,316 | 17,932 | 16,145 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.215 x | 3.594 x | 2.453 x | 1.866 x | 1.903 x | 1.529 x | 1.484 x | 1.293 x |
| Free Cash Flow 1 | 696 | - | - | 5,306 | 4,624 | 4,044 | 6,931 | 7,359 |
| ROE (net income / shareholders' equity) | 7.68% | 10.7% | 13.8% | 17.1% | 13.3% | 16.7% | 15.8% | 15.6% |
| ROA (Net income/ Total Assets) | 3.08% | 4.6% | 5.9% | 8.1% | - | 10.5% | 11.3% | 11.5% |
| Assets 1 | 52,386 | 60,354 | 61,150 | 62,803 | - | 64,111 | 64,003 | 68,273 |
| Book Value Per Share 2 | 3.480 | 3.160 | 3.260 | 4.070 | 4.530 | 5.110 | 5.760 | 6.390 |
| Cash Flow per Share 2 | 0.6400 | 0.9400 | 0.8700 | 0.8600 | 1.100 | 1.290 | 1.220 | 1.400 |
| Capex 1 | 3,379 | 1,189 | 425 | 1,689 | 4,294 | 2,458 | 2,774 | 3,896 |
| Capex / Sales | 23.22% | 6.58% | 1.74% | 5.69% | 16.59% | 8.52% | 9.15% | 12.09% |
| Announcement Date | 4/2/20 | 3/25/21 | 3/27/22 | 3/29/23 | 3/27/24 | - | - | - |
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
BUY
Number of Analysts
9
Last Close Price
8.58
CNY
Average target price
9.74
CNY
Spread / Average Target
+13.52%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +45.92% | 9.64B | |
| +24.15% | 31.49B | |
| +21.40% | 23.83B | |
| -12.97% | 23.03B | |
| -3.80% | 12.27B | |
| +4.34% | 10.85B | |
| +3.71% | 9.39B | |
| -0.28% | 9.03B | |
| +4.18% | 7.96B | |
| -22.98% | 7.55B |
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- Financials China Merchants Energy Shipping Co., Ltd.
