Company Valuation: Fuyao Glass Industry Group Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 114,341 87,822 95,821 156,887 166,374 140,634 - -
Change - -23.19% 9.11% 63.73% 6.05% -15.47% - -
Enterprise Value (EV) 1 109,905 82,031 91,431 153,343 163,612 132,499 130,210 128,739
Change - -25.36% 11.46% 67.71% 6.7% -19.02% -1.73% -1.13%
P/E ratio 38.3x 19.3x 17.3x 21.7x 18.1x 14x 11.7x 10.2x
PBR 4.6x 3.16x 3.1x 4.56x 4.5x 3.4x 2.99x 2.63x
PEG - 0.4x 0.9x 0.7x 0.7x 1.3x 0.6x 0.7x
Capitalization / Revenue 4.84x 3.13x 2.89x 4x 3.63x 2.69x 2.31x 2.05x
EV / Revenue 4.66x 2.92x 2.76x 3.91x 3.57x 2.54x 2.14x 1.87x
EV / EBITDA 17.5x 10.4x 9.97x 13.2x 11.6x 9.02x 7.52x 6.65x
EV / EBIT 29.2x 14.5x 13.5x 16.9x 14.6x 11x 9.09x 8.1x
EV / FCF 31.5x 28.8x 28.2x 46.2x 27.6x 21.3x 13.5x 10.8x
FCF Yield 3.17% 3.47% 3.55% 2.16% 3.63% 4.69% 7.43% 9.23%
Dividend per Share 2 1 1.25 1.3 1.8 1.2 2.334 2.732 3.034
Rate of return 2.12% 3.56% 3.48% 2.88% 1.85% 4.24% 4.96% 5.51%
EPS 2 1.23 1.82 2.16 2.87 3.57 3.944 4.714 5.399
Distribution rate 81.3% 68.7% 60.2% 62.7% 33.6% 59.2% 57.9% 56.2%
Net sales 1 23,603 28,099 33,161 39,252 45,787 52,222 60,892 68,677
EBITDA 1 6,278 7,884 9,172 11,634 14,074 14,690 17,323 19,365
EBIT 1 3,762 5,661 6,791 9,075 11,185 11,994 14,321 15,902
Net income 1 3,146 4,756 5,629 7,498 9,312 10,205 12,352 14,092
Net Debt 1 -4,436 -5,791 -4,389 -3,544 -2,763 -8,135 -10,424 -11,895
Reference price 2 47.14 35.07 37.39 62.40 64.77 55.08 55.08 55.08
Nbr of stocks (in thousands) 2,609,744 2,609,744 2,609,744 2,609,744 2,609,744 2,609,744 - -
Announcement Date 3/17/22 3/16/23 3/15/24 3/18/25 3/17/26 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.96x2.55x9.02x4.24% 20.65B
27x1.76x14.51x1.16% 53.12B
11.01x0.68x9.01x1.33% 31.01B
12.13x0.64x5.14x3.48% 31.45B
38.91x3.56x21.27x0.79% 18.17B
9.75x0.47x4.62x3.34% 16.14B
10.87x0.98x5.68x4.69% 15.24B
34.19x1.2x13.21x0.64% 14.33B
12.65x0.96x6.37x1.08% 12.54B
16.69x2.64x10.54x2.04% 11.74B
Average 18.72x 1.55x 9.94x 2.28% 22.44B
Weighted average by Cap. 19.25x 1.49x 10.42x 2.17%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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