DAODAOQUAN GRAIN AND OIL CO.,LTD. |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 7.82 CNY | +0.64% |
|
+4.69% | -27.73% |
| Apr. 26 | Daodaoquan Grain and Oil Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| 2023 | Daodaoquan Grain and Oil Co.,Ltd. Approves Board Appointments | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 3,529 | 3,810 | 4,989 | 5,761 | 4,761 | 3,722 |
| Enterprise Value (EV) 1 | 2,336 | 3,332 | 5,368 | 6,117 | 5,373 | 5,076 |
| P/E ratio | 16.1 x | 30 x | -65.4 x | -24.4 x | -11.4 x | 49.1 x |
| Yield | 3.35% | 0.74% | 0.55% | - | - | - |
| Capitalization / Revenue | 0.98 x | 0.93 x | 0.94 x | 1.06 x | 0.68 x | 0.53 x |
| EV / Revenue | 0.65 x | 0.81 x | 1.02 x | 1.12 x | 0.76 x | 0.72 x |
| EV / EBITDA | 11.3 x | 34.1 x | 31.7 x | -55.4 x | -18.5 x | 11.8 x |
| EV / FCF | -32.5 x | 9.32 x | -10.2 x | -11.8 x | -30.7 x | -7.76 x |
| FCF Yield | -3.07% | 10.7% | -9.85% | -8.48% | -3.25% | -12.9% |
| Price to Book | 1.68 x | 1.9 x | 2.73 x | 2.41 x | 2.39 x | 1.88 x |
| Nbr of stocks (in thousands) | 289,000 | 282,662 | 273,968 | 343,968 | 343,968 | 343,968 |
| Reference price 2 | 12.21 | 13.48 | 18.21 | 16.75 | 13.84 | 10.82 |
| Announcement Date | 4/10/19 | 4/26/20 | 4/26/21 | 4/28/22 | 4/26/23 | 4/26/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,600 | 4,117 | 5,287 | 5,449 | 7,028 | 7,001 |
| EBITDA 1 | 206.6 | 97.78 | 169.4 | -110.3 | -290.5 | 429.5 |
| EBIT 1 | 162.1 | 46.52 | 110 | -179.6 | -408.2 | 290.4 |
| Operating Margin | 4.5% | 1.13% | 2.08% | -3.3% | -5.81% | 4.15% |
| Earnings before Tax (EBT) 1 | 296 | 165.7 | -45.1 | -248.4 | -525 | 75.72 |
| Net income 1 | 219.6 | 128.8 | -76.5 | -192 | -418 | 75.77 |
| Net margin | 6.1% | 3.13% | -1.45% | -3.52% | -5.95% | 1.08% |
| EPS 2 | 0.7600 | 0.4500 | -0.2786 | -0.6861 | -1.215 | 0.2203 |
| Free Cash Flow 1 | -71.84 | 357.4 | -528.9 | -518.9 | -174.9 | -654 |
| FCF margin | -2% | 8.68% | -10% | -9.52% | -2.49% | -9.34% |
| FCF Conversion (EBITDA) | - | 365.47% | - | - | - | - |
| FCF Conversion (Net income) | - | 277.39% | - | - | - | - |
| Dividend per Share 2 | 0.4090 | 0.1000 | 0.1000 | - | - | - |
| Announcement Date | 4/10/19 | 4/26/20 | 4/26/21 | 4/28/22 | 4/26/23 | 4/26/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 379 | 356 | 612 | 1,354 |
| Net Cash position 1 | 1,192 | 478 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | 2.239 x | -3.224 x | -2.107 x | 3.152 x |
| Free Cash Flow 1 | -71.8 | 357 | -529 | -519 | -175 | -654 |
| ROE (net income / shareholders' equity) | 10.8% | 5.93% | -3.94% | -9.14% | -19.1% | 4.12% |
| ROA (Net income/ Total Assets) | 3.75% | 1.06% | 2.23% | -2.96% | -5.68% | 3.76% |
| Assets 1 | 5,857 | 12,105 | -3,427 | 6,482 | 7,359 | 2,013 |
| Book Value Per Share 2 | 7.270 | 7.080 | 6.660 | 6.960 | 5.780 | 5.760 |
| Cash Flow per Share 2 | 0.9400 | 0.8800 | 1.390 | 1.200 | 1.010 | 0.7400 |
| Capex 1 | 230 | 270 | 603 | 579 | 352 | 102 |
| Capex / Sales | 6.38% | 6.55% | 11.4% | 10.63% | 5.01% | 1.45% |
| Announcement Date | 4/10/19 | 4/26/20 | 4/26/21 | 4/28/22 | 4/26/23 | 4/26/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -27.73% | 371M | |
| +24.91% | 6.65B | |
| -0.67% | 6.43B | |
| +3.05% | 5.27B | |
| +3.85% | 2.51B | |
| +39.89% | 2.17B | |
| -2.10% | 1.6B | |
| +17.72% | 1.04B | |
| +22.31% | 942M | |
| -7.83% | 768M |
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