Financials iDreamSky Technology Holdings Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
2.94 ^HKD	+19.03%		+27.27%	+27.27%

Mar. 28	IDreamSky Technology Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Mar. 07	Goldstream Investment to Provide Advisory Services to iDreamSky Technology	MT

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	6,968	4,817	4,166	6,879	4,730	4,223	4,223	-
Enterprise Value (EV) ¹	6,968	4,817	4,984	6,879	4,730	3,266	4,223	4,223
P/E ratio	23.9 x	14.3 x	-9.59 x	-39.2 x	-1.9 x	-5.38 x	7.87 x	6.26 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	2.95 x	1.72 x	1.3 x	2.61 x	1.73 x	1.7 x	1.36 x	1.21 x
EV / Revenue	2.95 x	1.72 x	1.3 x	2.61 x	1.73 x	1.7 x	1.36 x	1.21 x
EV / EBITDA	11,280,724 x	6,167,387 x	8,531,514 x	21,359,968 x	-15,035,029 x	-	-	-
EV / FCF	39,709,877 x	-	-	-	-	-	-	-
FCF Yield	0%	-	-	-	-	-	-	-
Price to Book	1.86 x	-	1.22 x	1.76 x	-	1.92 x	1.53 x	1.28 x
Nbr of stocks (in thousands)	1,269,719	1,203,234	1,207,348	1,350,745	1,383,778	1,551,916	1,551,916	-
Reference price ²	5.488	4.004	3.451	5.093	3.418	2.721	2.721	2.721
Announcement Date	3/28/19	3/26/20	3/25/21	3/30/22	3/30/23	3/28/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	2,365	2,793	3,212	2,638	2,734	1,916	3,104	3,493
EBITDA	617.7	781.1	488.3	322	-314.6	-	-	-
EBIT ¹	329.4	428.2	-401.9	-16.58	-2,392	-175.3	733	937
Operating Margin	13.93%	15.33%	-12.51%	-0.63%	-87.49%	-9.15%	23.61%	26.83%
Earnings before Tax (EBT) ¹	297	390.6	-574.5	-181.2	-2,577	-470.4	583	788
Net income ¹	246.4	352.2	-441.6	-157.5	-2,492	-556.3	491	663
Net margin	10.42%	12.61%	-13.75%	-5.97%	-91.16%	-29.03%	15.82%	18.98%
EPS ²	0.2300	0.2800	-0.3600	-0.1300	-1.800	-0.3900	0.3460	0.4350
Free Cash Flow	175.5	-	-	-	-	-	-	-
FCF margin	7.42%	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	28.41%	-	-	-	-	-	-	-
FCF Conversion (Net income)	71.22%	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	3/28/19	3/26/20	3/25/21	3/30/22	3/30/23	3/28/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	818	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	1.675 x	-	-	-	-	-
Free Cash Flow	175	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	19.9%	16.3%	7.78%	-4.27%	-23.1%	11.4%	21.5%	24.8%
ROA (Net income/ Total Assets)	-	9.31%	-6.88%	-2.36%	-11.8%	4.4%	11.3%	13.9%
Assets ¹	-	3,783	6,420	6,681	21,195	4,159	4,345	4,770
Book Value Per Share ²	2.950	-	2.820	2.890	-	1.420	1.780	2.130
Cash Flow per Share	0.1900	-	-	0.1200	-	-	-	-
Capex ¹	30.9	14.4	16	40.1	31.1	39	43	38
Capex / Sales	1.31%	0.52%	0.5%	1.52%	1.14%	1.49%	1.39%	1.09%
Announcement Date	3/28/19	3/26/20	3/25/21	3/30/22	3/30/23	3/28/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.721 CNY

Average target price

3.992 CNY

Spread / Average Target

+46.70%

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