Financials Greentown China Holdings Limited

Equities

3900

KYG4100M1050

Real Estate Development & Operations

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
6 HKD +12.36% Intraday chart for Greentown China Holdings Limited +19.28% -24.53%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 11,197 18,503 23,735 25,590 25,493 14,063 14,063 -
Enterprise Value (EV) 1 49,308 62,186 77,733 81,553 95,220 18,296 93,193 97,598
P/E ratio 28.7 x 15.5 x 9.18 x 7.87 x 9.87 x 5.92 x 3.27 x 3.11 x
Yield 4.45% 3.51% 3.67% 4.49% 4.97% 9.47% 7.86% 8.49%
Capitalization / Revenue 0.19 x 0.3 x 0.36 x 0.26 x 0.2 x 0.14 x 0.1 x 0.1 x
EV / Revenue 0.82 x 1.01 x 1.18 x 0.81 x 0.75 x 0.14 x 0.69 x 0.72 x
EV / EBITDA 5.83 x 6.32 x 8.19 x 7.59 x 6.6 x 1.84 x 6.75 x 6.76 x
EV / FCF -2.72 x - -21.5 x 15 x 7.59 x 63.7 x 11.9 x -51.2 x
FCF Yield -36.7% - -4.66% 6.68% 13.2% 1.57% 8.41% -1.95%
Price to Book 0.41 x 0.67 x 0.7 x 0.56 x 0.48 x 0.36 x 0.36 x 0.33 x
Nbr of stocks (in thousands) 2,168,676 2,163,506 2,486,762 2,500,444 2,531,999 2,531,999 2,531,999 -
Reference price 2 5.163 8.552 9.544 10.23 10.07 5.554 5.554 5.554
Announcement Date 3/22/19 3/23/20 3/22/21 3/22/22 3/27/23 3/22/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 60,303 61,593 65,783 100,240 127,153 131,383 134,284 136,429
EBITDA 1 8,465 9,836 9,488 10,741 14,433 9,961 13,807 14,444
EBIT 1 8,013 9,246 8,929 10,134 13,731 9,206 11,432 12,369
Operating Margin 13.29% 15.01% 13.57% 10.11% 10.8% 7.01% 8.51% 9.07%
Earnings before Tax (EBT) 1 7,904 9,953 10,754 12,555 13,256 9,725 10,918 11,401
Net income 1 1,003 2,480 3,796 4,469 2,756 3,118 3,681 3,778
Net margin 1.66% 4.03% 5.77% 4.46% 2.17% 2.37% 2.74% 2.77%
EPS 2 0.1800 0.5500 1.040 1.300 1.020 1.220 1.698 1.785
Free Cash Flow 1 -18,097 - -3,621 5,449 12,541 1,410 7,841 -1,905
FCF margin -30.01% - -5.5% 5.44% 9.86% 1.06% 5.84% -1.4%
FCF Conversion (EBITDA) - - - 50.73% 86.89% 9.58% 56.79% -
FCF Conversion (Net income) - - - 121.91% 455.03% 34.3% 213.03% -
Dividend per Share 2 0.2300 0.3000 0.3500 0.4600 0.5000 0.5261 0.4365 0.4717
Announcement Date 3/22/19 3/23/20 3/22/21 3/22/22 3/27/23 3/22/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 18,658 42,935 23,896 41,886 36,135 64,105 64,731 62,422 56,976 74,407 55,367 83,050 54,450 81,676
EBITDA - - - - - - - - - - - - - -
EBIT 1 - - - - 5,372 4,762 8,118 5,613 7,253 1,953 3,969 5,953 4,332 6,498
Operating Margin - - - - 14.87% 7.43% 12.54% 8.99% 12.73% 2.62% 7.17% 7.17% 7.96% 7.96%
Earnings before Tax (EBT) - - - - - - 7,721 - - - - - - -
Net income - - - - - - 1,801 - - - - - - -
Net margin - - - - - - 2.78% - - - - - - -
EPS 2 0.6700 -0.1200 0.6500 0.3900 0.7100 0.5900 0.6600 0.3600 0.9900 0.2300 0.8700 1.300 0.8600 1.290
Dividend per Share - - - - - - - 0.5000 - - - - - -
Announcement Date 8/25/19 3/23/20 8/27/20 3/22/21 8/24/21 3/22/22 8/25/22 3/27/23 9/22/23 3/22/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 38,111 43,682 53,999 55,963 69,727 75,716 79,130 83,535
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.502 x 4.441 x 5.691 x 5.21 x 4.831 x 5.143 x 5.731 x 5.783 x
Free Cash Flow 1 -18,097 - -3,621 5,449 12,541 1,410 7,841 -1,905
ROE (net income / shareholders' equity) 9.73% 9.44% 7.46% 9.09% 11.6% 13.6% 10.1% 10.1%
ROA (Net income/ Total Assets) 1.47% 1.41% 1.01% 0.96% 0.91% 1.6% 0.99% 1.05%
Assets 1 68,135 176,429 375,703 467,683 302,868 257,497 373,288 358,456
Book Value Per Share 2 12.70 12.70 13.60 18.20 21.10 15.40 15.50 16.80
Cash Flow per Share 2 -7.610 - -1.310 2.340 5.750 3.860 3.290 2.980
Capex 1 1,541 - 467 413 2,243 469 488 531
Capex / Sales 2.56% - 0.71% 0.41% 1.76% 0.35% 0.36% 0.39%
Announcement Date 3/22/19 3/23/20 3/22/21 3/22/22 3/27/23 3/22/24 - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
5.554 CNY
Average target price
8.493 CNY
Spread / Average Target
+52.91%
Consensus
  1. Stock Market
  2. Equities
  3. 3900 Stock
  4. Financials Greentown China Holdings Limited