Financials Fiberhome Telecommunication Technologies Co., Ltd.

Equities

600498

CNE0000018P2

Communications & Networking

End-of-day quote Shanghai S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
18.2 CNY +4.36% Intraday chart for Fiberhome Telecommunication Technologies Co., Ltd. +12.14% +9.38%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 32,144 28,177 20,345 15,591 19,727 21,576 -
Enterprise Value (EV) 1 30,723 28,551 20,981 17,133 21,468 24,875 24,813
P/E ratio 33.5 x 268 x 78.2 x 43.8 x 39.6 x 37 x 32.8 x
Yield 1.24% 0.33% 0.44% 0.84% 0.77% 0.86% 0.99%
Capitalization / Revenue 1.3 x 1.34 x 0.77 x 0.5 x 0.63 x 0.59 x 0.54 x
EV / Revenue 1.25 x 1.35 x 0.8 x 0.55 x 0.69 x 0.68 x 0.62 x
EV / EBITDA 17.7 x 32 x 18.2 x 13.4 x 14.9 x 15.5 x 13.8 x
EV / FCF -37,730,592 x - - - - - -
FCF Yield -0% - - - - - -
Price to Book 2.8 x 2.62 x 1.94 x 1.37 x - - -
Nbr of stocks (in thousands) 1,170,985 1,170,155 1,131,544 1,186,565 1,185,491 1,185,492 -
Reference price 2 27.45 24.08 17.98 13.14 16.64 18.20 18.20
Announcement Date 4/29/20 4/16/21 4/15/22 4/21/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 24,662 21,074 26,315 30,918 31,130 36,408 39,963
EBITDA 1 1,740 890.9 1,154 1,274 1,446 1,605 1,798
EBIT 1 1,116 208.7 493.7 541.4 566.2 1,071 1,357
Operating Margin 4.53% 0.99% 1.88% 1.75% 1.82% 2.94% 3.39%
Earnings before Tax (EBT) 1 1,114 205.3 491 540.4 581.2 728.4 824.8
Net income 1 978.8 102.3 288 405.8 505.4 592.2 669.9
Net margin 3.97% 0.49% 1.09% 1.31% 1.62% 1.63% 1.68%
EPS 2 0.8200 0.0900 0.2300 0.3000 0.4200 0.4920 0.5547
Free Cash Flow -814.3 - - - - - -
FCF margin -3.3% - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.3400 0.0800 0.0800 0.1100 0.1280 0.1570 0.1807
Announcement Date 4/29/20 4/16/21 4/15/22 4/21/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2020 S1 2020 S2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
Net sales 1 11,985 9,439 11,635 6,531 7,775 4,539 9,465 7,524 9,390 5,016 9,878 7,665 8,570 5,045 10,211 8,183
EBITDA - - - 320.7 - - 283.6 - - - - - - - - -
EBIT - - 142.3 138.6 189.1 37.09 168.3 119.1 216.9 44.11 162.8 137.1 222.2 - - -
Operating Margin - - 1.22% 2.12% 2.43% 0.82% 1.78% 1.58% 2.31% 0.88% 1.65% 1.79% 2.59% - - -
Earnings before Tax (EBT) - - 136.5 140.3 - - 170 116.9 214.9 - - - - - - -
Net income - 55.75 46.54 133.7 - - 142.9 125.6 104.2 - - - - - - -
Net margin - 0.59% 0.4% 2.05% - - 1.51% 1.67% 1.11% - - - - - - -
EPS 2 - - 0.0400 0.1100 -0.0100 0.0300 0.1200 0.1000 0.0500 0.0300 0.1400 0.1100 0.1400 0.0600 0.1800 0.1400
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 8/28/19 8/28/20 4/16/21 10/22/21 4/15/22 4/29/22 8/26/22 10/28/22 4/21/23 4/28/23 8/25/23 10/27/23 4/26/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - 374 636 1,541 1,742 3,299 3,237
Net Cash position 1 1,421 - - - - - -
Leverage (Debt/EBITDA) - 0.42 x 0.5512 x 1.21 x 1.205 x 2.055 x 1.801 x
Free Cash Flow -814 - - - - - -
ROE (net income / shareholders' equity) 9.4% 0.9% 2.48% 3.38% 4.06% 5.25% 5.83%
ROA (Net income/ Total Assets) 3.23% 0.31% 0.81% 1.08% - - -
Assets 1 30,350 33,320 35,461 37,406 - - -
Book Value Per Share 9.800 9.170 9.260 9.600 - - -
Cash Flow per Share 0.3000 0.1000 0.0400 0.0400 - - -
Capex 1,168 962 699 - - - -
Capex / Sales 4.74% 4.56% 2.66% - - - -
Announcement Date 4/29/20 4/16/21 4/15/22 4/21/23 4/26/24 - -
1CNY in Million
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
OUTPERFORM
Number of Analysts
2
Last Close Price
18.2 CNY
Average target price
17.35 CNY
Spread / Average Target
-4.67%
Consensus
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