Financials Hua Hong Semiconductor Limited

Equities

1347

HK0000218211

Semiconductors

Delayed Hong Kong S.E. 01:00:13 2024-04-29 am EDT 5-day change 1st Jan Change
15.82 HKD +2.33% Intraday chart for Hua Hong Semiconductor Limited +8.68% -16.42%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,932 7,366 7,177 4,560 5,625 4,282 - -
Enterprise Value (EV) 1 2,500 7,009 7,152 4,460 2,171 2,196 3,231 1,854
P/E ratio 18.2 x 74.7 x 34.3 x 10.2 x 12.9 x 25.3 x 11.8 x 9.68 x
Yield - - - - - 0.25% 0.3% 0.63%
Capitalization / Revenue 3.14 x 7.66 x 4.4 x 1.84 x 2.5 x 2 x 1.62 x 1.35 x
EV / Revenue 2.68 x 7.29 x 4.39 x 1.8 x 0.97 x 1.03 x 1.22 x 0.58 x
EV / EBITDA 10.7 x 40.8 x 13.9 x 4.37 x 3.36 x 3.64 x 3.37 x 1.47 x
EV / FCF -3.29 x -8.57 x -17.8 x -18.2 x -12.2 x -1.91 x -4.06 x -2.77 x
FCF Yield -30.4% -11.7% -5.63% -5.5% -8.23% -52.3% -24.7% -36.1%
Price to Book 1.3 x 2.9 x 2.54 x 1.51 x 0.45 x 0.51 x 0.49 x 0.48 x
Nbr of stocks (in thousands) 1,288,820 1,297,815 1,301,192 1,306,837 1,716,589 1,716,772 - -
Reference price 2 2.275 5.675 5.516 3.489 2.418 1.975 1.975 1.975
Announcement Date 2/13/20 2/9/21 1/28/22 2/14/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 932.6 961.3 1,631 2,475 2,246 2,139 2,645 3,171
EBITDA 1 232.5 171.8 514.5 1,021 646.4 603.4 957.8 1,261
EBIT 1 103.8 -34.52 178.8 564.5 163 -6.463 252.3 360.8
Operating Margin 11.13% -3.59% 10.96% 22.8% 7.26% -0.3% 9.54% 11.38%
Earnings before Tax (EBT) 1 181.6 46.08 232.7 496.1 162.9 32.77 287.5 342.2
Net income 1 162.2 99.44 212.1 449.9 267.9 125 282.7 333.3
Net margin 17.4% 10.34% 13% 18.17% 11.93% 5.85% 10.69% 10.51%
EPS 2 0.1250 0.0760 0.1610 0.3420 0.1880 0.0780 0.1679 0.2041
Free Cash Flow 1 -759.3 -818.1 -402.7 -245.3 -178.6 -1,149 -796.6 -669.2
FCF margin -81.43% -85.11% -24.69% -9.91% -7.95% -53.72% -30.12% -21.11%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - - - - - 0.005020 0.005840 0.0125
Announcement Date 2/13/20 2/9/21 1/28/22 2/14/23 2/6/24 - - -
1USD in Million2USD
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 2025 Q1
Net sales 1 451.5 528.3 594.6 620.8 629.9 630.1 630.8 631.4 568.5 455.4 486.1 511.3 560.7 582.3 522.9
EBITDA 1 137.9 174.3 204.5 253.6 276.9 289 246.3 222 133.9 52.29 106 132.6 168.7 187.4 130.9
EBIT 1 49.93 76.42 87.26 138.2 160.4 181.1 125.9 98.39 6.558 -76.84 -32.72 -16.82 12.94 25.8 -21.91
Operating Margin 11.06% 14.47% 14.67% 22.26% 25.47% 28.75% 19.96% 15.58% 1.15% -16.88% -6.73% -3.29% 2.31% 4.43% -4.19%
Earnings before Tax (EBT) 1 57.42 103.9 95.24 81.52 102.6 216.7 132 43.68 -12.86 10.76 -13.87 -5.116 21.21 39.34 -11.91
Net income 1 50.81 84.13 102.9 83.93 103.9 159.1 152.2 78.52 13.89 35.39 16.22 12.86 42.64 59.57 -
Net margin 11.25% 15.92% 17.31% 13.52% 16.49% 25.26% 24.13% 12.44% 2.44% 7.77% 3.34% 2.52% 7.6% 10.23% -
EPS 2 0.0380 0.0640 0.0780 0.0640 0.0790 0.1210 0.1150 0.0600 0.009000 0.0210 0.007590 0.001640 0.0252 0.0375 -
Dividend per Share 2 - - - - - - - - - - - 0.000100 - - -
Announcement Date 11/11/21 1/28/22 5/12/22 8/11/22 11/10/22 2/14/23 5/11/23 8/10/23 11/9/23 2/6/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 432 357 24.7 100 3,454 2,087 1,051 2,429
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -759 -818 -403 -245 -179 -1,149 -797 -669
ROE (net income / shareholders' equity) 7.4% 4.2% 7.9% 15.2% 6.49% 2.84% 4.45% 4.55%
ROA (Net income/ Total Assets) 4.85% 2.43% 3.51% 6.79% 3.11% 0.95% 2.63% 2.3%
Assets 1 3,345 4,091 6,039 6,629 8,610 13,126 10,757 14,477
Book Value Per Share 2 1.750 1.960 2.170 2.310 5.390 3.850 3.990 4.080
Cash Flow per Share 2 0.1300 0.2100 0.4100 0.5700 0.4300 0.3000 0.5400 0.6000
Capex 1 922 1,087 939 996 885 1,785 1,775 1,726
Capex / Sales 98.9% 113.11% 57.58% 40.24% 39.4% 83.44% 67.13% 54.43%
Announcement Date 2/13/20 2/9/21 1/28/22 2/14/23 2/6/24 - - -
1USD in Million2USD
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
HOLD
Number of Analysts
17
Last Close Price
1.975 USD
Average target price
2.269 USD
Spread / Average Target
+14.89%
Consensus
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