Company Valuation: Inner Mongolia Baotou Steel Union Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 60,172 53,334 127,182 87,177 66,291 84,371
Change - -11.36% 138.46% -31.45% -23.96% 27.27%
Enterprise Value (EV) 1 87,868 82,660 148,528 117,672 104,146 130,161
Change - -5.93% 79.69% -20.77% -11.49% 24.98%
P/E ratio 110x 131x 44.2x -119x 129x 321x
PBR 1.14x 1.01x 2.29x 1.66x 1.28x 1.62x
PEG - -5.1x 0x 1x -1x -6.6x
Capitalization / Revenue 0.95x 0.9x 1.48x 1.21x 0.94x 1.24x
EV / Revenue 1.39x 1.39x 1.72x 1.63x 1.48x 1.91x
EV / EBITDA 12.5x 11.9x 16.1x 27.1x 16.5x 21.4x
EV / EBIT 24.3x 26.2x 25.6x 131x 44.4x 71.7x
EV / FCF -11.3x 199x 11.9x 48.3x -141x 38.4x
FCF Yield -8.88% 0.5% 8.42% 2.07% -0.71% 2.61%
Dividend per Share 2 - - 0.019 - - 0.002
Rate of return - - 0.68% - - 0.11%
EPS 2 0.012 0.0089 0.0631 -0.0161 0.0113 0.0058
Distribution rate - - 30.1% - - 34.5%
Net sales 1 63,397 59,266 86,183 72,172 70,565 68,089
EBITDA 1 7,055 6,937 9,228 4,346 6,307 6,075
EBIT 1 3,611 3,150 5,813 895.6 2,347 1,816
Net income 1 667.9 406 2,866 -730 515.3 264.6
Net Debt 1 27,696 29,325 21,345 30,495 37,855 45,791
Reference price 2 1.320 1.170 2.790 1.920 1.460 1.860
Nbr of stocks (in thousands) 45,585,033 45,585,033 45,585,033 45,404,942 45,404,942 45,360,584
Announcement Date 4/29/20 4/29/21 4/15/22 4/21/23 4/18/24 4/18/25
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 18.72B
33.04x2.01x12.39x0.43% 31.9B
13.51x0.51x4.87x4.17% 20.2B
33.76x2.65x14.84x0.2% 13.37B
12.29x - - - 12.28B
52.55x1.58x14.57x1.54% 9.71B
66.21x5.47x30.87x0.45% 9.39B
14.83x0.8x6.81x6.37% 8.94B
10.4x0.55x4.41x5.5% 8.38B
20.62x1.55x12.25x0.38% 6.91B
Average 28.58x 1.89x 12.62x 2.38% 13.98B
Weighted average by Cap. 28.27x 1.83x 12.00x 2.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Inner Mongolia Baotou Steel Union Co., Ltd.