CHOW TAI SENG JEWELLERY CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 16.19 CNY | -7.33% |
|
-10.65% | +6.65% |
| Apr. 26 | Chow Tai Seng Jewellery Co., Ltd. Proposes Final Dividend for the Year 2023 | CI |
| Apr. 25 | Chow Tai Seng Jewellery Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 13,916 | 19,476 | 19,491 | 15,229 | 16,477 | 17,574 | - | - |
| Enterprise Value (EV) 1 | 13,916 | 19,476 | 18,259 | 13,563 | 15,909 | 16,491 | 16,331 | 17,574 |
| P/E ratio | 13.9 x | 19 x | 15.9 x | 13.9 x | 12.5 x | 11.5 x | 9.71 x | 8.57 x |
| Yield | 2.36% | 2.25% | 2.81% | 4.28% | 4.28% | 4.74% | 5.31% | 7.91% |
| Capitalization / Revenue | 2.56 x | 3.83 x | 2.13 x | 1.37 x | 1.01 x | 0.93 x | 0.8 x | 0.73 x |
| EV / Revenue | 2.56 x | 3.83 x | 1.99 x | 1.22 x | 0.98 x | 0.87 x | 0.75 x | 0.73 x |
| EV / EBITDA | 10.7 x | 14.4 x | 11.3 x | 9.38 x | 9.16 x | 7.73 x | 6.73 x | - |
| EV / FCF | - | - | 420 x | 15.2 x | -209 x | 4.94 x | 13.8 x | 13.3 x |
| FCF Yield | - | - | 0.24% | 6.6% | -0.48% | 20.2% | 7.27% | 7.49% |
| Price to Book | 2.95 x | 3.61 x | 3.37 x | 2.54 x | 2.61 x | 2.58 x | 2.09 x | 2.14 x |
| Nbr of stocks (in thousands) | 1,096,358 | 1,096,223 | 1,096,223 | 1,085,474 | 1,085,474 | 1,085,474 | - | - |
| Reference price 2 | 12.69 | 17.77 | 17.78 | 14.03 | 15.18 | 16.19 | 16.19 | 16.19 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/11/22 | 4/28/23 | 4/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,439 | 5,084 | 9,155 | 11,118 | 16,290 | 18,941 | 21,917 | 24,080 |
| EBITDA 1 | 1,302 | 1,348 | 1,613 | 1,447 | 1,737 | 2,134 | 2,427 | - |
| EBIT 1 | 1,257 | 1,307 | 1,579 | 1,409 | 1,695 | 1,964 | 2,381 | 2,691 |
| Operating Margin | 23.12% | 25.7% | 17.24% | 12.67% | 10.41% | 10.37% | 10.86% | 11.18% |
| Earnings before Tax (EBT) 1 | 1,292 | 1,322 | 1,591 | 1,420 | 1,708 | 1,978 | 2,379 | 2,691 |
| Net income 1 | 991.4 | 1,012 | 1,225 | 1,091 | 1,316 | 1,512 | 1,825 | 2,071 |
| Net margin | 18.23% | 19.9% | 13.38% | 9.81% | 8.08% | 7.99% | 8.33% | 8.6% |
| EPS 2 | 0.9133 | 0.9333 | 1.120 | 1.010 | 1.210 | 1.410 | 1.668 | 1.890 |
| Free Cash Flow 1 | - | - | 43.5 | 895.2 | -76.04 | 3,339 | 1,187 | 1,317 |
| FCF margin | - | - | 0.48% | 8.05% | -0.47% | 17.63% | 5.42% | 5.47% |
| FCF Conversion (EBITDA) | - | - | 2.7% | 61.88% | - | 156.46% | 48.91% | - |
| FCF Conversion (Net income) | - | - | 3.55% | 82.08% | - | 220.76% | 65.05% | 63.59% |
| Dividend per Share 2 | 0.3000 | 0.4000 | 0.5000 | 0.6000 | 0.6500 | 0.7667 | 0.8600 | 1.280 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/11/22 | 4/28/23 | 4/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | - | - | 8,074 | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | 739.9 | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | 9.16% | - | - | - | - | - | - |
| EPS 1 | 0.2700 | 0.3200 | 0.1500 | 0.3400 | 0.3400 | - | 0.3300 | 0.2000 | 0.3100 | 0.4200 | 0.4000 | 0.2400 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/29/22 | 10/27/22 | 4/28/23 | 4/28/23 | 8/25/23 | 8/25/23 | 10/30/23 | 4/25/24 | 4/25/24 | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 1,231 | 1,667 | 568 | 1,083 | 1,243 | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | - | 43.5 | 895 | -76 | 3,339 | 1,187 | 1,317 |
| ROE (net income / shareholders' equity) | 22.9% | 20.1% | 21.3% | 18.3% | 21.1% | 22.3% | 21.7% | 25% |
| ROA (Net income/ Total Assets) | 16.7% | 16.1% | 18% | 14.9% | - | 17.7% | 17.2% | - |
| Assets 1 | 5,933 | 6,290 | 6,804 | 7,312 | - | 8,545 | 10,615 | - |
| Book Value Per Share 2 | 4.300 | 4.920 | 5.280 | 5.510 | 5.820 | 6.290 | 7.730 | 7.550 |
| Cash Flow per Share 2 | 0.7300 | 1.240 | 0.1800 | 0.9300 | 0.1300 | 1.090 | 1.390 | - |
| Capex 1 | 181 | 131 | 153 | 123 | 215 | 196 | 140 | 200 |
| Capex / Sales | 3.33% | 2.59% | 1.67% | 1.1% | 1.32% | 1.03% | 0.64% | 0.83% |
| Announcement Date | 2/28/20 | 2/26/21 | 3/11/22 | 4/28/23 | 4/25/24 | - | - | - |
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
D+
Sell
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
16.19
CNY
Average target price
20.62
CNY
Spread / Average Target
+27.36%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.65% | 2.43B | |
| -2.49% | 38.16B | |
| -6.02% | 13.93B | |
| +17.87% | 12.8B | |
| +11.43% | 4.19B | |
| +7.50% | 2.46B | |
| -6.25% | 1.5B | |
| -20.28% | 1.3B | |
| -13.01% | 1.13B | |
| -32.82% | 1.06B |
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