GREE REAL ESTATE CO.,LTD Financials Gree Real Estate Co.,Ltd
Equities
600185
CNE000000ZF2
Real Estate Development & Operations
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5.84 CNY | -1.52% |
|
+8.55% | -19.23% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 8,343 | 9,971 | 11,912 | 12,820 | 19,661 | 13,629 |
| Enterprise Value (EV) 1 | 24,765 | 26,887 | 30,535 | 29,452 | 34,774 | 25,193 |
| P/E ratio | 16.9 x | 17.9 x | 21.5 x | 40.6 x | -7.24 x | -18.5 x |
| Yield | - | - | - | 1.45% | 0.96% | - |
| Capitalization / Revenue | 2.71 x | 2.38 x | 1.86 x | 1.8 x | 4.86 x | 2.88 x |
| EV / Revenue | 8.04 x | 6.41 x | 4.78 x | 4.13 x | 8.59 x | 5.32 x |
| EV / EBITDA | 34.3 x | 34.2 x | 27.5 x | 31 x | -22.6 x | 262 x |
| EV / FCF | -32.9 x | 3,099 x | 177 x | 19.7 x | 19.4 x | 5.49 x |
| FCF Yield | -3.04% | 0.03% | 0.57% | 5.07% | 5.15% | 18.2% |
| Price to Book | 1.01 x | 1.27 x | 1.41 x | 1.6 x | 3.1 x | 2.45 x |
| Nbr of stocks (in thousands) | 2,060,120 | 2,060,180 | 1,843,895 | 1,855,345 | 1,885,006 | 1,885,006 |
| Reference price 2 | 4.050 | 4.840 | 6.460 | 6.910 | 10.43 | 7.230 |
| Announcement Date | 4/29/19 | 4/28/20 | 4/30/21 | 4/29/22 | 4/22/23 | 3/29/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,078 | 4,193 | 6,389 | 7,133 | 4,047 | 4,732 |
| EBITDA 1 | 722.4 | 786.5 | 1,112 | 948.6 | -1,536 | 96.19 |
| EBIT 1 | 704.4 | 769.5 | 1,094 | 916.3 | -1,577 | 58.21 |
| Operating Margin | 22.88% | 18.35% | 17.13% | 12.85% | -38.96% | 1.23% |
| Earnings before Tax (EBT) 1 | 676 | 708.1 | 720.4 | 460.8 | -2,520 | -762.3 |
| Net income 1 | 512.6 | 526.3 | 558.7 | 320.6 | -2,684 | -733.1 |
| Net margin | 16.65% | 12.55% | 8.75% | 4.49% | -66.32% | -15.49% |
| EPS 2 | 0.2400 | 0.2700 | 0.3000 | 0.1700 | -1.440 | -0.3900 |
| Free Cash Flow 1 | -752.5 | 8.677 | 172.8 | 1,494 | 1,791 | 4,585 |
| FCF margin | -24.44% | 0.21% | 2.7% | 20.94% | 44.25% | 96.88% |
| FCF Conversion (EBITDA) | - | 1.1% | 15.54% | 157.46% | - | 4,766.6% |
| FCF Conversion (Net income) | - | 1.65% | 30.92% | 465.92% | - | - |
| Dividend per Share | - | - | - | 0.1000 | 0.1000 | - |
| Announcement Date | 4/29/19 | 4/28/20 | 4/30/21 | 4/29/22 | 4/22/23 | 3/29/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 16,421 | 16,916 | 18,623 | 16,631 | 15,114 | 11,564 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 22.73 x | 21.51 x | 16.75 x | 17.53 x | -9.842 x | 120.2 x |
| Free Cash Flow 1 | -753 | 8.68 | 173 | 1,494 | 1,791 | 4,585 |
| ROE (net income / shareholders' equity) | 6.38% | 6.55% | 6.84% | 3.63% | -35% | -12.4% |
| ROA (Net income/ Total Assets) | 1.54% | 1.54% | 1.95% | 1.63% | -3.12% | 0.13% |
| Assets 1 | 33,191 | 34,105 | 28,647 | 19,666 | 86,050 | -570,533 |
| Book Value Per Share 2 | 4.000 | 3.810 | 4.570 | 4.330 | 3.360 | 2.950 |
| Cash Flow per Share 2 | 1.010 | 1.460 | 1.650 | 0.7200 | 1.140 | 0.6000 |
| Capex 1 | 303 | 52.3 | 197 | 51.5 | 25.4 | 177 |
| Capex / Sales | 9.85% | 1.25% | 3.09% | 0.72% | 0.63% | 3.75% |
| Announcement Date | 4/29/19 | 4/28/20 | 4/30/21 | 4/29/22 | 4/22/23 | 3/29/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -19.23% | 1.52B | |
| +40.41% | 28.24B | |
| -12.37% | 26.95B | |
| +23.41% | 26.45B | |
| +6.25% | 25.93B | |
| +49.25% | 22.95B | |
| +9.16% | 20.4B | |
| -0.25% | 18.55B | |
| +28.90% | 16.22B | |
| -13.27% | 15.1B |
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