Financials Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited Shanghai S.E.

Equities

600332

CNE000001733

Pharmaceuticals

End-of-day quote Shanghai S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
31.82 CNY +2.12% Intraday chart for Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited +0.89% +11.26%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 55,277 44,624 52,112 46,283 44,609 49,027 - -
Enterprise Value (EV) 1 42,910 34,153 39,162 34,667 34,672 29,851 26,566 24,024
P/E ratio 12.1 x 8.93 x 7.99 x 8.33 x 7.92 x 7.83 x 7.54 x 9.66 x
Yield 2.48% 3.36% 3.76% 3.6% 3.79% 4.12% 4.37% -
Capitalization / Revenue 0.85 x 0.72 x 0.76 x 0.65 x 0.59 x 0.61 x 0.57 x 0.54 x
EV / Revenue 0.66 x 0.55 x 0.57 x 0.49 x 0.46 x 0.37 x 0.31 x 0.26 x
EV / EBITDA 9.17 x 8.34 x 7.46 x 6.15 x 5.93 x 5 x 4.22 x 3.94 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.6 x 1 x 1.02 x 1.03 x 0.92 x 0.83 x 0.76 x 0.7 x
Nbr of stocks (in thousands) 1,625,791 1,625,791 1,625,791 1,625,791 1,625,791 1,625,791 - -
Reference price 2 23.77 16.01 18.29 20.31 19.77 19.52 19.52 19.52
Announcement Date 3/31/20 3/18/21 3/18/22 3/17/23 3/15/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 64,952 61,674 69,014 70,788 75,515 80,799 85,609 90,933
EBITDA 1 4,681 4,097 5,249 5,639 5,842 5,974 6,301 6,092
EBIT 1 4,055 3,672 4,786 5,074 5,121 5,314 5,426 5,676
Operating Margin 6.24% 5.95% 6.93% 7.17% 6.78% 6.58% 6.34% 6.24%
Earnings before Tax (EBT) 1 4,129 3,739 4,723 5,043 5,110 5,340 5,681 5,646
Net income 1 3,189 2,915 3,720 3,967 4,056 4,174 4,436 4,415
Net margin 4.91% 4.73% 5.39% 5.6% 5.37% 5.17% 5.18% 4.86%
EPS 2 1.961 1.793 2.288 2.440 2.495 2.491 2.590 2.020
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.5890 0.5380 0.6870 0.7320 0.7490 0.8046 0.8535 -
Announcement Date 3/31/20 3/18/21 3/18/22 3/17/23 3/15/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - 18,342 18,214 17,331 22,946 19,626 19,489 18,544 24,762 21,000
EBITDA - - - - - - - - - -
EBIT - - - - - - - - - -
Operating Margin - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - -
Net income 1,909 - - - - - - - - -
Net margin - - - - - - - - - -
EPS - - - - - - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 4/27/23 8/18/23 10/30/23 3/15/24 4/26/24 - - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 12,367 10,471 12,950 11,616 9,936 19,176 22,461 25,003
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 13.9% 11.6% 12.8% 13% 12.1% 11.2% 10.8% 10%
ROA (Net income/ Total Assets) 5.89% 5% 5.91% 5.63% 5.29% 5.15% 5.3% 5.4%
Assets 1 54,187 58,328 62,939 70,392 76,623 81,039 83,707 81,757
Book Value Per Share 2 14.90 16.10 17.90 19.70 21.50 23.60 25.70 27.70
Cash Flow per Share - 0.3600 - - 2.520 - - -
Capex 1 2,399 870 1,248 1,382 1,615 1,295 1,384 -
Capex / Sales 3.69% 1.41% 1.81% 1.95% 2.14% 1.6% 1.62% -
Announcement Date 3/31/20 3/18/21 3/18/22 3/17/23 3/15/24 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
19.52 CNY
Average target price
22.06 CNY
Spread / Average Target
+13.04%
Consensus

Quarterly revenue - Rate of surprise

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