Financials Eyebright Medical Technology (Beijing) Co., Ltd.

Equities

688050

CNE1000041J5

Medical Equipment, Supplies & Distribution

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
141.5 CNY +2.65% Intraday chart for Eyebright Medical Technology (Beijing) Co., Ltd. +5.13% -17.75%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 18,187 22,103 24,264 18,107 14,893 - -
Enterprise Value (EV) 1 18,187 21,774 24,059 17,947 14,678 14,500 14,200
P/E ratio 160 x 129 x 104 x 59.7 x 38.6 x 27 x 22.1 x
Yield - 0.18% 0.22% 0.28% 0.43% 0.6% 0.75%
Capitalization / Revenue 66.6 x 51 x 41.9 x 19 x 10.7 x 8.09 x 6.14 x
EV / Revenue 66.6 x 50.3 x 41.5 x 18.9 x 10.6 x 7.88 x 5.86 x
EV / EBITDA 129 x 97.9 x 77.5 x 43.8 x 28.5 x 21 x 16.6 x
EV / FCF - -237 x -1,154 x -114 x 111 x 40.3 x 23.6 x
FCF Yield - -0.42% -0.09% -0.88% 0.9% 2.48% 4.24%
Price to Book 12 x 13.2 x 13 x 8.5 x 6.11 x 4.91 x 4.32 x
Nbr of stocks (in thousands) 105,139 105,139 105,177 105,251 105,251 - -
Reference price 2 173.0 210.2 230.7 172.0 141.5 141.5 141.5
Announcement Date 2/23/21 2/23/22 2/14/23 4/17/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 273 433.1 579.5 951.2 1,391 1,840 2,424
EBITDA 1 141.5 222.5 310.4 409.5 515.9 690.2 856.4
EBIT 1 111.3 185 259.3 327.5 418.2 593.5 734.8
Operating Margin 40.75% 42.72% 44.74% 34.43% 30.07% 32.26% 30.32%
Earnings before Tax (EBT) 1 111 187.8 264.1 327.7 430.7 611.5 774.3
Net income 1 96.56 171.3 232.7 304 391.9 551.6 698.8
Net margin 35.36% 39.57% 40.15% 31.96% 28.17% 29.98% 28.83%
EPS 2 1.080 1.630 2.210 2.880 3.669 5.237 6.401
Free Cash Flow 1 - -91.92 -20.86 -157.3 132 360 602
FCF margin - -21.23% -3.6% -16.54% 9.49% 19.56% 24.84%
FCF Conversion (EBITDA) - - - - 25.59% 52.16% 70.29%
FCF Conversion (Net income) - - - - 33.69% 65.27% 86.15%
Dividend per Share 2 - 0.3700 0.5100 0.4900 0.6094 0.8421 1.067
Announcement Date 2/23/21 2/23/22 2/14/23 4/17/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 108.2 131.3 141.7 168.3 138.2 - 217.1 261.3 283.1 310.4 322.4 382.8 377 481 -
EBITDA 59.05 - - - - - - - - - - - - - -
EBIT 1 33.46 72.82 73.73 83.36 29.36 - 84.41 98.3 50.22 115 94.94 114.7 58.01 160.7 -
Operating Margin 30.93% 55.46% 52.04% 49.52% 21.25% - 38.89% 37.63% 17.74% 37.05% 29.45% 29.97% 15.39% 33.4% -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - 78.4 - - - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS 2 0.3000 0.5600 0.6100 0.7200 0.3200 0.7400 0.8100 0.8400 0.4900 0.9800 0.8258 0.9949 0.6106 1.560 -
Dividend per Share 2 0.3700 - - - 0.5100 - - - - - - - 0.4683 - -
Announcement Date 2/23/22 4/20/22 8/17/22 10/25/22 2/14/23 4/18/23 8/17/23 10/25/23 4/17/24 4/17/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - 329 205 160 215 393 693
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - -91.9 -20.9 -157 132 360 602
ROE (net income / shareholders' equity) 9.65% 10.8% 13.1% 15.3% 16.3% 18.1% 19.3%
ROA (Net income/ Total Assets) - 9.3% 10.8% - 13.3% 14.5% -
Assets 1 - 1,843 2,146 - 2,946 3,804 -
Book Value Per Share 2 14.40 15.90 17.70 20.20 23.20 28.80 32.80
Cash Flow per Share 2 1.170 2.090 2.380 2.020 2.070 5.040 4.180
Capex 1 - 311 271 370 320 245 220
Capex / Sales - 71.86% 46.76% 38.89% 23.02% 13.33% 9.08%
Announcement Date 2/23/21 2/23/22 2/14/23 4/17/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
141.5 CNY
Average target price
214.5 CNY
Spread / Average Target
+51.59%
Consensus
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