Projected Income Statement: Haier Smart Home Co., Ltd.

Forecast Balance Sheet: Haier Smart Home Co., Ltd.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -21,635 -24,610 -22,499 -15,606 -10,984 -28,604 -36,931 -45,584
Change - -13.75% 8.58% 30.64% 29.62% -160.43% -29.11% -23.43%
Announcement Date 3/30/22 3/30/23 3/27/24 3/27/25 3/25/26 - - -
1CNY in Million
Estimates

Cash Flow Forecast: Haier Smart Home Co., Ltd.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 7,083 7,976 9,739 10,029 8,733 8,365 9,281 8,577
Change - 12.61% 22.11% 2.98% -12.92% -4.21% 10.94% -7.58%
Free Cash Flow (FCF) 1 16,047 12,178 15,524 16,514 17,270 27,114 23,280 24,106
Change - -24.11% 27.47% 6.38% 4.58% 57% -14.14% 3.55%
Announcement Date 3/30/22 3/30/23 3/27/24 3/27/25 3/25/26 - - -
1CNY in Million
Estimates

Forecast Financial Ratios: Haier Smart Home Co., Ltd.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 9.2% 8.65% 9.8% 10.44% 9.68% 9.57% 10.08% 10.16%
EBIT Margin (%) 6.98% 6.17% 7.6% 8.01% 7.85% 7.31% 7.47% 7.65%
EBT Margin (%) 6.99% 7.31% 7.54% 7.95% 7.77% 7.69% 8.06% 8.34%
Net margin (%) 5.74% 6.04% 6.35% 6.55% 6.47% 6.55% 6.74% 6.89%
FCF margin (%) 7.05% 5% 5.94% 5.77% 5.71% 6.69% 7.34% 7.09%
FCF / Net Income (%) 122.81% 82.78% 93.53% 88.12% 88.32% 102.19% 108.91% 102.9%

Profitability

        
ROA 6.21% 6.49% 6.78% 6.9% 6.34% 6.53% 6.92% 7.31%
ROE 17.82% 16.81% 16.85% 17.7% 16.98% 15.72% 16.14% 16.08%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 3.11% 3.28% 3.73% 3.51% 2.89% 3.17% 3.06% 2.53%
CAPEX / EBITDA (%) 33.83% 37.88% 38.02% 33.58% 29.85% 33.17% 30.38% 24.87%
CAPEX / FCF (%) 44.14% 65.49% 62.74% 60.73% 50.57% 47.46% 41.73% 35.62%

Items per share

        
Cash flow per share 1 2.478 2.133 2.677 2.829 2.773 3.053 3.358 3.533
Change - -13.91% 25.46% 5.69% -1.98% 10.11% 10% 5.21%
Dividend per Share 1 0.46 0.566 0.804 0.965 0.8867 1.211 1.373 1.535
Change - 23.04% 42.05% 20.02% -8.11% 36.59% 13.39% 11.75%
Book Value Per Share 1 8.492 9.89 10.97 11.87 12.66 13.67 14.77 15.73
Change - 16.46% 10.9% 8.22% 6.64% 7.96% 8.06% 6.52%
EPS 1 1.4 1.57 1.78 2.02 2.1 2.163 2.356 2.549
Change - 12.14% 13.38% 13.48% 3.96% 3% 8.94% 8.16%
Nbr of stocks (in thousands) 9,319,212 9,308,051 9,236,587 9,246,721 9,310,520 9,257,440 9,257,440 9,257,440
Announcement Date 3/30/22 3/30/23 3/27/24 3/27/25 3/25/26 - - -
1CNY
Estimates
2026 *2027 *
P/E Ratio 9.76x 8.96x
PBR 1.54x 1.43x
EV / Sales 0.54x 0.48x
Yield 5.74% 6.51%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
27
Last Close Price
21.11CNY
Average target price
27.32CNY
Spread / Average Target
+29.42%

Quarterly revenue - Rate of surprise

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  5. Financials Haier Smart Home Co., Ltd.
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