Company Valuation: Flat Glass Group Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 72,405 112,835 64,039 56,149 41,781 36,637 - -
Change - 55.84% -43.25% -12.32% -25.59% -12.31% - -
Enterprise Value (EV) 1 73,044 113,821 71,680 61,857 49,276 46,647 47,523 48,196
Change - 55.82% -37.02% -13.7% -20.34% -5.34% 1.88% 1.41%
P/E ratio 33.9x 32.6x 16.9x 9.65x 23.9x 21.8x 13x 9.73x
PBR 7.41x 5.86x 2.55x 1.2x 1.11x 1.04x 0.98x 0.9x
PEG - 1.5x - 0.4x -0.4x 6.14x 0.2x 0.3x
Capitalization / Revenue 11.6x 12.9x 4.14x 2.61x 2.24x 2.1x 1.57x 1.37x
EV / Revenue 11.7x 13.1x 4.64x 2.87x 2.64x 2.67x 2.04x 1.8x
EV / EBITDA 30.9x 37.7x 19.1x 11.5x 13.6x 10.6x 8.7x 7.34x
EV / EBIT 36.4x 47.8x 33.3x 16.8x 43.6x 38.9x 19x 15.8x
EV / FCF -109x -35.7x -9.08x -17x 48x 109x 1,117x 85.4x
FCF Yield -0.92% -2.8% -11% -5.89% 2.08% 0.92% 0.09% 1.17%
Dividend per Share 2 0.15 - - 0.618 0.13 0.1279 0.2265 0.2718
Rate of return 0.55% - - 5.17% 1.27% 1.32% 2.34% 2.81%
EPS 2 0.81 0.99 0.99 1.24 0.43 0.4453 0.7434 0.9952
Distribution rate 18.5% - - 49.8% 30.2% 28.7% 30.5% 27.3%
Net sales 1 6,260 8,713 15,461 21,524 18,683 17,451 23,268 26,802
EBITDA 1 2,361 3,017 3,745 5,385 3,625 4,416 5,461 6,565
EBIT 1 2,006 2,382 2,155 3,674 1,130 1,200 2,495 3,044
Net income 1 1,629 2,120 2,123 2,760 1,007 950.9 1,687 2,297
Net Debt 1 639.1 985.8 7,641 5,708 7,495 10,010 10,886 11,558
Reference price 2 27.493 32.261 16.701 11.964 10.261 9.687 9.687 9.687
Nbr of stocks (in thousands) 1,954,600 2,146,893 2,146,894 2,351,324 2,333,453 2,329,612 - -
Announcement Date 3/29/21 3/21/22 3/27/23 3/26/24 3/27/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.55x2.75x13.23x1.33% 5.19B
11.16x3.38x7.79x-.--% 17.75B
-61.27x1.17x17.58x0.02% 17.35B
-24.94x1.36x15.52x0.1% 12.28B
47.05x5.76x32.63x - 10.28B
19.63x2.52x11.1x-.--% 9.45B
-88.33x10.71x22.88x-.--% 7.89B
-24.01x0.84x8.95x0.13% 7.73B
51.15x7.01x27.19x - 5.55B
46.38x3.29x11.84x-.--% 5.37B
Average -0.16x 3.88x 16.87x 0.2% 9.88B
Weighted average by Cap. -7.48x 3.46x 16.26x 0.11%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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