Financials DeHua TB New Decoration Material Co.,Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
10.8 ^CNY	+3.35%		+8.43%	+21.90%

Apr. 25	DeHua TB New Decoration Material Co.,Ltd Proposes Final Cash Dividend for the Year 2023	CI
Apr. 24	DeHua TB New Decoration Material Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,694	6,710	8,664	8,272	7,342	8,942	-	-
Enterprise Value (EV) ¹	5,694	6,710	8,664	8,272	7,342	8,942	8,942	8,942
P/E ratio	14.4 x	16.6 x	12.5 x	18.7 x	10.5 x	11.6 x	10 x	8.84 x
Yield	-	-	-	4.6%	6.21%	5.93%	6.76%	7.69%
Capitalization / Revenue	1.23 x	1.04 x	0.92 x	0.93 x	0.81 x	0.88 x	0.79 x	0.71 x
EV / Revenue	1.23 x	1.04 x	0.92 x	0.93 x	0.81 x	0.88 x	0.79 x	0.71 x
EV / EBITDA	11.4 x	-	8.63 x	12.4 x	7.58 x	8 x	7.1 x	6.35 x
EV / FCF	-	-	-	10,461,896 x	-	-	-	-
FCF Yield	-	-	-	0%	-	-	-	-
Price to Book	3.09 x	3.74 x	4.22 x	3.55 x	2.32 x	2.6 x	2.32 x	2.08 x
Nbr of stocks (in thousands)	774,756	748,085	717,250	761,664	828,629	827,969	-	-
Reference price ²	7.350	8.970	12.08	10.86	8.860	10.80	10.80	10.80
Announcement Date	2/28/20	2/22/21	2/24/22	2/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,632	6,466	9,426	8,917	9,063	10,108	11,294	12,599
EBITDA ¹	501.5	-	1,004	668.4	968.5	1,117	1,260	1,409
EBIT ¹	468.6	560.9	944.1	601.8	900.9	1,029	1,191	1,352
Operating Margin	10.12%	8.68%	10.02%	6.75%	9.94%	10.18%	10.54%	10.73%
Earnings before Tax (EBT) ¹	475.8	564.7	954.3	611.8	907.5	1,037	1,199	1,359
Net income ¹	394.3	402.7	711.6	445.4	689.4	783	904.1	1,025
Net margin	8.51%	6.23%	7.55%	4.99%	7.61%	7.75%	8.01%	8.13%
EPS ²	0.5100	0.5400	0.9700	0.5800	0.8400	0.9340	1.078	1.222
Free Cash Flow	-	-	-	790.6	-	-	-	-
FCF margin	-	-	-	8.87%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	118.29%	-	-	-	-
FCF Conversion (Net income)	-	-	-	177.52%	-	-	-	-
Dividend per Share ²	-	-	-	0.5000	0.5500	0.6400	0.7300	0.8300
Announcement Date	2/28/20	2/22/21	2/24/22	2/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	791	-	-	-	-
ROE (net income / shareholders' equity)	22.9%	22.6%	37.5%	21%	23.8%	22.7%	23.6%	23.9%
ROA (Net income/ Total Assets)	-	9.28%	-	8.47%	-	11.5%	11.9%	12.2%
Assets ¹	-	4,340	-	5,256	-	6,826	7,591	8,396
Book Value Per Share ²	2.380	2.400	2.860	3.060	3.820	4.150	4.650	5.200
Cash Flow per Share ²	0.9000	1.050	1.160	1.210	2.270	1.000	1.260	1.590
Capex ¹	116	102	136	143	103	157	90.3	87.6
Capex / Sales	2.5%	1.58%	1.44%	1.6%	1.14%	1.55%	0.8%	0.7%
Announcement Date	2/28/20	2/22/21	2/24/22	2/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.8 CNY

Average target price

12.98 CNY

Spread / Average Target

+20.19%

	1st Jan change	Capi.
DEHUA TB NEW DECORATION MATERIAL CO.,LTD	+21.90%	1.24B
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CENTURY PLYBOARDS (INDIA) LIMITED	-17.39%	1.7B
CORTICEIRA AMORIM, SGPS, S.A.	+6.78%	1.39B
DEXCO S.A.	-8.92%	1.16B
DONGWHA ENTERPRISE CO.,LTD	-7.86%	749M
OENEO	-20.93%	707M
STEICO SE	+7.88%	548M
DARE POWER DEKOR HOME CO.,LTD.	-12.62%	529M
GREENPANEL INDUSTRIES LIMITED	-26.05%	465M