Financials Inspur Electronic Information Industry Co., Ltd.

Equities

000977

CNE0000012M2

Computer Hardware

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
37.5 CNY +3.59% Intraday chart for Inspur Electronic Information Industry Co., Ltd. +4.60% +12.95%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 38,806 39,076 52,087 31,499 48,875 55,205 - -
Enterprise Value (EV) 1 34,131 32,448 50,899 31,772 48,703 59,975 59,551 55,205
P/E ratio 42.1 x 26 x 26.2 x 15.5 x 28.1 x 25.4 x 19.5 x 17.4 x
Yield 0.23% 0.41% 0.39% 0.7% 0.39% 0.44% 0.58% 0.67%
Capitalization / Revenue 0.75 x 0.62 x 0.78 x 0.45 x 0.74 x 0.73 x 0.61 x 0.55 x
EV / Revenue 0.66 x 0.51 x 0.76 x 0.46 x 0.74 x 0.79 x 0.66 x 0.55 x
EV / EBITDA 25.9 x 15.7 x 20.1 x 12.6 x 22.3 x 21.9 x 16.2 x 14.9 x
EV / FCF 79,367,613 x 17,249,322 x -5,999,451 x 46,710,277 x - - - -
FCF Yield 0% 0% -0% 0% - - - -
Price to Book 3.9 x 3.14 x 3.68 x 1.94 x 2.72 x 2.76 x 2.41 x 2.16 x
Nbr of stocks (in thousands) 1,289,252 1,453,721 1,453,721 1,463,710 1,472,135 1,472,135 - -
Reference price 2 30.10 26.88 35.83 21.52 33.20 37.50 37.50 37.50
Announcement Date 4/17/20 4/14/21 4/8/22 4/11/23 4/19/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 51,653 63,038 67,048 69,525 65,867 75,812 89,772 100,899
EBITDA 1 1,316 2,066 2,534 2,526 2,182 2,744 3,670 3,698
EBIT 1 1,027 1,743 2,153 2,156 1,826 2,310 3,266 3,282
Operating Margin 1.99% 2.77% 3.21% 3.1% 2.77% 3.05% 3.64% 3.25%
Earnings before Tax (EBT) 1 1,031 1,685 2,160 2,160 1,827 2,281 2,854 3,283
Net income 1 928.7 1,466 2,003 2,080 1,783 2,170 2,827 3,181
Net margin 1.8% 2.33% 2.99% 2.99% 2.71% 2.86% 3.15% 3.15%
EPS 2 0.7145 1.032 1.369 1.389 1.180 1.478 1.926 2.160
Free Cash Flow 430 1,881 -8,484 680.2 - - - -
FCF margin 0.83% 2.98% -12.65% 0.98% - - - -
FCF Conversion (EBITDA) 32.68% 91.07% - 26.93% - - - -
FCF Conversion (Net income) 46.3% 128.28% - 32.7% - - - -
Dividend per Share 2 0.0700 0.1100 0.1400 0.1500 0.1300 0.1635 0.2183 0.2500
Announcement Date 4/17/20 4/14/21 4/8/22 4/11/23 4/19/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 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 1 30,113 30,286 32,752 17,692 20,800 17,277 17,573 17,916 16,759 9,400 15,397 23,299 17,770 16,448 20,581 21,250 19,877
EBITDA 1 - - - 1,089 - 543.3 924.8 1,194 - - - - - 467.2 953.2 - -
EBIT 1 704.6 - 1,275 598.6 635.2 367.1 674 603.9 511.1 220.4 100.3 461.3 1,044 446.8 931.5 - -
Operating Margin 2.34% - 3.89% 3.38% 3.05% 2.13% 3.84% 3.37% 3.05% 2.34% 0.65% 1.98% 5.87% 2.72% 4.53% - -
Earnings before Tax (EBT) 1 707.6 - 1,217 599.6 635.7 366.8 676.2 606.3 510.6 220.6 103.4 462.5 1,040 409.5 892.7 - -
Net income 1 655.5 405.7 1,061 547.6 652 334 620.3 591.9 534.2 210.3 115 461.3 996.2 380.9 830.2 - -
Net margin 2.18% 1.34% 3.24% 3.1% 3.13% 1.93% 3.53% 3.3% 3.19% 2.24% 0.75% 1.98% 5.61% 2.32% 4.03% - -
EPS 2 0.5000 - 0.7400 0.3700 0.4500 0.2283 0.4200 0.4100 0.3300 0.1432 0.0800 0.2800 0.6800 0.2394 0.4170 0.4400 0.4800
Dividend per Share 2 - - - - 0.1400 - - - 0.1500 - - - - - - - -
Announcement Date 4/17/20 8/28/20 4/14/21 10/26/21 4/8/22 4/29/22 8/26/22 10/30/22 4/11/23 4/27/23 8/25/23 10/31/23 4/19/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 273 - 4,770 4,346 -
Net Cash position 1 4,676 6,628 1,188 - 171 - - -
Leverage (Debt/EBITDA) - - - 0.1083 x - 1.738 x 1.184 x -
Free Cash Flow 430 1,881 -8,484 680 - - - -
ROE (net income / shareholders' equity) 9.79% 12.1% 13.1% 13.4% 9.89% 10.8% 12.2% 12.4%
ROA (Net income/ Total Assets) 3.38% 4.33% 4.74% 4.77% - 4.19% 5.34% 5.27%
Assets 1 27,502 33,867 42,265 43,611 - 51,725 52,959 60,365
Book Value Per Share 2 7.720 8.560 9.740 11.10 12.20 13.60 15.50 17.40
Cash Flow per Share 2 0.6700 1.600 -5.700 1.230 0.3500 0.8700 1.310 1.110
Capex 1 435 449 194 1,120 290 507 377 522
Capex / Sales 0.84% 0.71% 0.29% 1.61% 0.44% 0.67% 0.42% 0.52%
Announcement Date 4/17/20 4/14/21 4/8/22 4/11/23 4/19/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
37.5 CNY
Average target price
39.33 CNY
Spread / Average Target
+4.88%
Consensus
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