Financials Jiangxi Copper Company Limited Shanghai S.E.

Equities

600362

CNE0000019P0

Specialty Mining & Metals

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
26.58 CNY +3.71% Intraday chart for Jiangxi Copper Company Limited -2.21% +48.82%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 48,416 55,606 60,457 50,232 51,035 76,035 - -
Enterprise Value (EV) 1 80,577 89,070 78,431 70,885 72,318 101,466 100,671 98,900
P/E ratio 13.7 x 16 x 6.24 x 5.88 x - 7.1 x 6.81 x 6.94 x
Yield 1.04% 0.98% 4.92% 4.91% - 4.28% 4.33% 4.23%
Capitalization / Revenue 0.2 x 0.17 x 0.14 x 0.1 x 0.1 x 0.14 x 0.13 x 0.13 x
EV / Revenue 0.34 x 0.28 x 0.18 x 0.15 x 0.14 x 0.18 x 0.17 x 0.17 x
EV / EBITDA 11.1 x 11.2 x 7.85 x 5.25 x 6.42 x 8.1 x 7.52 x 7.22 x
EV / FCF 16,345,005 x -42,598,036 x 12,731,945 x - - - - -
FCF Yield 0% -0% 0% - - - - -
Price to Book 0.63 x 0.59 x 0.5 x 0.48 x - 0.69 x 0.64 x 0.64 x
Nbr of stocks (in thousands) 3,462,729 3,462,729 3,462,729 3,462,729 3,462,729 3,454,662 - -
Reference price 2 9.580 10.25 10.17 10.17 10.03 15.20 15.20 15.20
Announcement Date 3/30/20 3/29/21 3/25/22 3/24/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 239,585 317,756 442,768 479,938 521,893 562,538 594,807 589,691
EBITDA 1 7,236 7,924 9,993 13,499 11,267 12,526 13,388 13,693
EBIT 1 5,237 5,240 7,430 7,646 8,419 9,785 10,427 10,673
Operating Margin 2.19% 1.65% 1.68% 1.59% 1.61% 1.74% 1.75% 1.81%
Earnings before Tax (EBT) 1 3,135 3,252 7,301 7,492 8,380 9,316 10,101 8,704
Net income 1 2,438 2,320 5,636 5,994 6,505 7,135 7,898 6,802
Net margin 1.02% 0.73% 1.27% 1.25% 1.25% 1.27% 1.33% 1.15%
EPS 2 0.7000 0.6400 1.630 1.730 - 2.141 2.233 2.191
Free Cash Flow 4,930 -2,091 6,160 - - - - -
FCF margin 2.06% -0.66% 1.39% - - - - -
FCF Conversion (EBITDA) 68.13% - 61.64% - - - - -
FCF Conversion (Net income) 202.21% - 109.31% - - - - -
Dividend per Share 2 0.1000 0.1000 0.5000 0.5000 - 0.6498 0.6589 0.6425
Announcement Date 3/30/20 3/29/21 3/25/22 3/24/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 S2 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2
Net sales 134,891 146,625 171,131 226,237 - 215,973 - - 254,588 - - 224,690 - - 267,526 132,029 254,366 - 273,240 - - 271,722
EBITDA - - 4,989 - - - - - - - - - - - - - - - - - - -
EBIT - - 3,551 4,150 - 3,401 - - 3,565 - - 2,928 - - 4,335 2,151 4,084 - 6,050 - - 6,830
Operating Margin - - 2.07% 1.83% - 1.57% - - 1.4% - - 1.3% - - 1.62% 1.63% 1.61% - 2.21% - - 2.51%
Earnings before Tax (EBT) - - 2,043 - - - - - - - - - - - - - - - - - - -
Net income - 787 1,441 - - - - - - - - - - - - - - - - - - -
Net margin - 0.54% 0.84% - - - - - - - - - - - - - - - - - - -
EPS 1 0.2900 0.2300 0.4100 0.9100 0.3300 0.7200 0.4300 0.6100 1.040 0.3700 0.3200 0.6900 0.5100 0.4900 1.000 - - 0.4500 1.030 0.4700 0.3300 1.270
Dividend per Share - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 3/30/20 8/28/20 3/29/21 8/27/21 3/25/22 3/25/22 4/28/22 8/25/22 8/25/22 10/27/22 3/24/23 3/24/23 4/24/23 8/25/23 8/25/23 10/27/23 3/27/24 - - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 32,161 33,464 17,974 20,654 21,282 25,431 24,636 22,865
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.445 x 4.223 x 1.799 x 1.53 x 1.889 x 2.03 x 1.84 x 1.67 x
Free Cash Flow 4,930 -2,091 6,160 - - - - -
ROE (net income / shareholders' equity) 4.76% 3.96% 8.69% 8.36% 9.23% 10.1% 8.41% 9.8%
ROA (Net income/ Total Assets) 2.05% 1.62% 4.7% 3.3% - 4.38% 3.18% 4.64%
Assets 1 118,890 143,678 119,916 181,668 - 169,209 248,759 146,586
Book Value Per Share 2 15.20 17.30 20.20 21.20 - 22.10 23.80 23.90
Cash Flow per Share 2 2.380 -0.6500 2.610 3.070 - 2.370 3.000 2.940
Capex 1 3,323 3,473 2,761 5,105 6,765 6,430 4,042 6,946
Capex / Sales 1.39% 1.09% 0.62% 1.06% 1.3% 1.14% 0.68% 1.18%
Announcement Date 3/30/20 3/29/21 3/25/22 3/24/23 3/27/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
15.2 CNY
Average target price
16.43 CNY
Spread / Average Target
+8.08%
Consensus
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