Financials China Reform Culture Holdings Co., Ltd.

Equities

600636

CNE0000004Y4

Miscellaneous Educational Service Providers

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
9.68 CNY +2.33% Intraday chart for China Reform Culture Holdings Co., Ltd. +4.88% -8.16%

Valuation

Fiscal Period: December 2019 2020 2022 2023 2024 2025
Capitalization 1 4,541 5,887 4,150 4,623 4,246 -
Enterprise Value (EV) 1 4,541 5,887 4,150 4,623 4,246 4,246
P/E ratio 38 x 38.6 x 31.6 x -27.5 x 27.7 x 23 x
Yield - - - - - -
Capitalization / Revenue 3.64 x 8.42 x - 12 x 8.54 x 7.76 x
EV / Revenue 3.64 x 8.42 x - 12 x 8.54 x 7.76 x
EV / EBITDA 19.6 x 27.1 x - -28.7 x 24.3 x 20.9 x
EV / FCF - - - - - -
FCF Yield - - - - - -
Price to Book 1.5 x 1.97 x - - - -
Nbr of stocks (in thousands) 446,937 438,637 438,637 438,637 438,637 -
Reference price 2 10.16 13.42 9.460 10.54 9.680 9.680
Announcement Date 4/25/20 4/26/21 4/28/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2022 2023 2024 2025
Net sales 1 1,248 699.4 - 383.8 497 547
EBITDA 1 231.8 217.5 - -161.1 175 203
EBIT 1 175.9 168.5 - -169.3 151 190
Operating Margin 14.09% 24.1% - -44.12% 30.38% 34.73%
Earnings before Tax (EBT) 1 188.3 171.8 - -169.3 173 203
Net income 1 119.4 155.5 133.7 -168.8 156 183
Net margin 9.57% 22.24% - -43.99% 31.39% 33.46%
EPS 2 0.2672 0.3480 0.2998 -0.3835 0.3500 0.4200
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share - - - - - -
Announcement Date 4/25/20 4/26/21 4/28/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2022 2023 2024 2025
Net Debt - - - - - -
Net Cash position - - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) 3.91% 5.14% - -6.55% 5.4% 6%
ROA (Net income/ Total Assets) - - - - 5.1% 5.7%
Assets 1 - - - - 3,059 3,211
Book Value Per Share 6.780 6.820 - - - -
Cash Flow per Share 0.3100 0.4600 - - - -
Capex 1 4.81 41.2 - - 42 43
Capex / Sales 0.39% 5.89% - - 8.45% 7.86%
Announcement Date 4/25/20 4/26/21 4/28/23 4/26/24 - -
1CNY in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
1
Last Close Price
9.68 CNY
Average target price
11 CNY
Spread / Average Target
+13.64%
Consensus

Annual profits - Rate of surprise

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