Financials Gemdale Properties and Investment Corporation Limited

Equities

535

BMG3911S1035

Real Estate Development & Operations

Market Closed - Hong Kong S.E. 04:08:22 2024-04-29 am EDT 5-day change 1st Jan Change
0.285 HKD +7.55% Intraday chart for Gemdale Properties and Investment Corporation Limited +15.85% +1.79%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 10,315 14,634 15,417 11,218 9,388 4,228
Enterprise Value (EV) 1 13,138 21,143 28,056 26,406 28,735 25,501
P/E ratio 4.65 x 3.92 x 3.54 x 2.8 x 4.07 x 12.4 x
Yield 4.23% 7.8% 8.56% 8.87% 1.24% 0.4%
Capitalization / Revenue 1.46 x 1.25 x 0.94 x 0.79 x 0.91 x 0.24 x
EV / Revenue 1.86 x 1.81 x 1.72 x 1.86 x 2.79 x 1.46 x
EV / EBITDA 4.59 x 4.46 x 5.83 x 33.3 x 703 x 17.6 x
EV / FCF 1.49 x 5.53 x -215 x -5.6 x -18.1 x -9.01 x
FCF Yield 66.9% 18.1% -0.46% -17.9% -5.51% -11.1%
Price to Book 0.87 x 0.97 x 0.82 x 0.52 x 0.42 x 0.19 x
Nbr of stocks (in thousands) 15,874,714 15,898,562 16,502,782 16,586,857 16,609,687 16,613,687
Reference price 2 0.6498 0.9205 0.9342 0.6763 0.5652 0.2545
Announcement Date 4/11/19 4/28/20 4/19/21 4/21/22 4/21/23 3/21/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 7,079 11,710 16,322 14,185 10,302 17,452
EBITDA 1 2,863 4,739 4,814 792.8 40.89 1,446
EBIT 1 2,813 4,699 4,784 757.2 9.098 1,392
Operating Margin 39.74% 40.12% 29.31% 5.34% 0.09% 7.98%
Earnings before Tax (EBT) 1 4,788 7,429 7,266 5,723 3,486 1,785
Net income 1 2,253 3,800 4,355 4,014 2,311 342.7
Net margin 31.82% 32.45% 26.68% 28.3% 22.43% 1.96%
EPS 2 0.1396 0.2346 0.2637 0.2413 0.1390 0.0206
Free Cash Flow 1 8,789 3,826 -130.2 -4,714 -1,583 -2,829
FCF margin 124.16% 32.67% -0.8% -33.23% -15.37% -16.21%
FCF Conversion (EBITDA) 306.99% 80.73% - - - -
FCF Conversion (Net income) 390.18% 100.7% - - - -
Dividend per Share 2 0.0275 0.0718 0.0800 0.0600 0.007000 0.001030
Announcement Date 4/11/19 4/28/20 4/19/21 4/21/22 4/21/23 3/21/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,823 6,509 12,639 15,189 19,346 21,273
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.9862 x 1.373 x 2.625 x 19.16 x 473.2 x 14.72 x
Free Cash Flow 1 8,789 3,826 -130 -4,714 -1,583 -2,829
ROE (net income / shareholders' equity) 20.4% 28.4% 24.8% 18.9% 9.13% 3.12%
ROA (Net income/ Total Assets) 3.68% 5.1% 4.69% 0.67% 0.01% 0.98%
Assets 1 61,272 74,503 92,897 600,124 33,487,391 34,893
Book Value Per Share 2 0.7500 0.9500 1.140 1.310 1.350 1.350
Cash Flow per Share 2 0.2000 0.3100 0.4300 0.5300 0.3600 0.1500
Capex 1 71.3 10.2 27 57.5 48.5 99.2
Capex / Sales 1.01% 0.09% 0.17% 0.41% 0.47% 0.57%
Announcement Date 4/11/19 4/28/20 4/19/21 4/21/22 4/21/23 3/21/24
1CNY in Million2CNY
Estimates
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