HANGZHOU FIRST APPLIED MATERIAL CO., LTD. Financials Hangzhou First Applied Material Co., Ltd.
Equities
603806
CNE100001VX1
Commodity Chemicals
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 27.22 CNY | +4.21% |
|
+11.47% | +12.15% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 25,398 | 65,720 | 124,167 | 88,468 | 45,192 | 50,674 | - | - |
| Enterprise Value (EV) 1 | 24,427 | 65,398 | 121,503 | 86,016 | 43,492 | 47,515 | 46,788 | 48,724 |
| P/E ratio | 26.6 x | 40.9 x | 55.6 x | 56.3 x | 24.3 x | 20.4 x | 16.4 x | 14.2 x |
| Yield | 1.13% | 0.53% | 0.27% | 0.23% | 1.07% | 1.01% | 1.07% | 1.48% |
| Capitalization / Revenue | 3.98 x | 7.83 x | 9.66 x | 4.69 x | 2 x | 1.94 x | 1.62 x | 1.47 x |
| EV / Revenue | 3.83 x | 7.79 x | 9.45 x | 4.56 x | 1.93 x | 1.82 x | 1.5 x | 1.41 x |
| EV / EBITDA | 20.3 x | 34 x | 45.6 x | 39.1 x | 18.4 x | 15 x | 12.2 x | 10.6 x |
| EV / FCF | - | - | -179 x | -158 x | -63.2 x | 35.2 x | 36.6 x | 27.8 x |
| FCF Yield | - | - | -0.56% | -0.63% | -1.58% | 2.84% | 2.73% | 3.6% |
| Price to Book | 3.89 x | 7.57 x | 10.2 x | 6.57 x | 3 x | 2.86 x | 2.49 x | 2.2 x |
| Nbr of stocks (in thousands) | 1,720,817 | 1,809,987 | 1,864,163 | 1,864,163 | 1,862,055 | 1,861,663 | - | - |
| Reference price 2 | 14.76 | 36.31 | 66.61 | 47.46 | 24.27 | 27.22 | 27.22 | 27.22 |
| Announcement Date | 3/20/20 | 3/25/21 | 3/17/22 | 4/20/23 | 4/11/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,378 | 8,393 | 12,858 | 18,877 | 22,589 | 26,099 | 31,206 | 34,569 |
| EBITDA 1 | 1,206 | 1,921 | 2,665 | 2,199 | 2,368 | 3,158 | 3,843 | 4,610 |
| EBIT 1 | 1,094 | 1,790 | 2,471 | 1,699 | 2,046 | 2,748 | 3,318 | 3,989 |
| Operating Margin | 17.16% | 21.32% | 19.22% | 9% | 9.06% | 10.53% | 10.63% | 11.54% |
| Earnings before Tax (EBT) 1 | 1,092 | 1,782 | 2,469 | 1,702 | 2,049 | 2,752 | 3,410 | 3,969 |
| Net income 1 | 957.1 | 1,565 | 2,197 | 1,579 | 1,850 | 2,500 | 3,074 | 3,562 |
| Net margin | 15.01% | 18.65% | 17.08% | 8.36% | 8.19% | 9.58% | 9.85% | 10.3% |
| EPS 2 | 0.5558 | 0.8886 | 1.199 | 0.8429 | 1.000 | 1.336 | 1.660 | 1.911 |
| Free Cash Flow 1 | - | - | -678.3 | -545.6 | -688.5 | 1,352 | 1,277 | 1,755 |
| FCF margin | - | - | -5.28% | -2.89% | -3.05% | 5.18% | 4.09% | 5.08% |
| FCF Conversion (EBITDA) | - | - | - | - | - | 42.79% | 33.24% | 38.07% |
| FCF Conversion (Net income) | - | - | - | - | - | 54.07% | 41.56% | 49.27% |
| Dividend per Share 2 | 0.1670 | 0.1913 | 0.1786 | 0.1071 | 0.2600 | 0.2752 | 0.2908 | 0.4036 |
| Announcement Date | 3/20/20 | 3/25/21 | 3/17/22 | 4/20/23 | 4/11/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | 3,884 | 5,131 | 4,531 | 5,331 | 4,913 | 5,703 | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | 386.4 | 836.9 | 468.8 | 6.848 | 398.1 | - | - | - | - | - | - | - |
| Operating Margin | - | - | 9.95% | 16.31% | 10.35% | 0.13% | 8.1% | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | 432.7 | 860.3 | - | - | 476.4 | - | 364.3 | - | 546.3 | - | - | - | - | - |
| Net margin | - | - | - | - | 10.51% | - | 7.42% | - | - | - | - | - | - | - |
| EPS 1 | - | - | 0.1837 | 0.3071 | 0.2571 | 0.0214 | 0.2000 | 0.2700 | 0.2800 | 0.2500 | 0.2800 | 0.3900 | 0.4100 | 0.3200 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/28/21 | 3/17/22 | 4/29/22 | 8/29/22 | 10/28/22 | 4/20/23 | 4/21/23 | 8/24/23 | 10/27/23 | 4/11/24 | 4/30/24 | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 972 | 322 | 2,663 | 2,452 | 1,700 | 3,160 | 3,887 | 1,950 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | - | -678 | -546 | -689 | 1,352 | 1,277 | 1,755 |
| ROE (net income / shareholders' equity) | 16.2% | 20.9% | 20.7% | 12.3% | 12.5% | 14.4% | 14.8% | 15.9% |
| ROA (Net income/ Total Assets) | 13% | 15.8% | 17.4% | 9.32% | - | 10.8% | 11.2% | 12.4% |
| Assets 1 | 7,381 | 9,925 | 12,616 | 16,941 | - | 23,232 | 27,342 | 28,803 |
| Book Value Per Share 2 | 3.790 | 4.790 | 6.530 | 7.220 | 8.080 | 9.530 | 10.90 | 12.40 |
| Cash Flow per Share 2 | 0.2500 | 0.1500 | -0.0800 | 0.0100 | -0.0100 | 0.8200 | 1.350 | 1.050 |
| Capex 1 | 47 | 355 | 531 | 572 | 662 | 899 | 770 | 948 |
| Capex / Sales | 0.74% | 4.23% | 4.13% | 3.03% | 2.93% | 3.44% | 2.47% | 2.74% |
| Announcement Date | 3/20/20 | 3/25/21 | 3/17/22 | 4/20/23 | 4/11/24 | - | - | - |
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
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
27.22
CNY
Average target price
29.48
CNY
Spread / Average Target
+8.30%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +12.15% | 6.72B | |
| +4.94% | 40.65B | |
| -19.34% | 21.8B | |
| -13.51% | 13.54B | |
| -10.91% | 10.02B | |
| -10.82% | 9.62B | |
| +11.43% | 7.54B | |
| -26.77% | 5.69B | |
| -23.47% | 3.33B | |
| -29.83% | 3.3B |
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- Financials Hangzhou First Applied Material Co., Ltd.
