Financials LB Group Co., Ltd.

Equities

002601

CNE1000015M3

Specialty Chemicals

End-of-day quote Shenzhen S.E. 06:00:00 2024-06-20 pm EDT 5-day change 1st Jan Change
18.65 CNY +0.54% Intraday chart for LB Group Co., Ltd. -0.16% +8.87%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 31,273 62,525 68,086 44,805 40,498 44,504 - -
Enterprise Value (EV) 1 34,394 66,450 71,641 51,994 55,428 50,928 50,024 47,421
P/E ratio 11.9 x 27.2 x 13.5 x 13.1 x 12.7 x 11.5 x 9.54 x 8.12 x
Yield 4.87% 3.28% 4.02% - 5.25% 5.55% 6.94% 8.1%
Capitalization / Revenue 2.75 x 4.43 x 3.31 x 1.86 x 1.51 x 1.43 x 1.3 x 1.23 x
EV / Revenue 3.03 x 4.71 x 3.48 x 2.16 x 2.07 x 1.63 x 1.46 x 1.31 x
EV / EBITDA 8.56 x 16.8 x 10.2 x 8.98 x 8.58 x 6.62 x 5.79 x 4.74 x
EV / FCF - - 45.3 x -39.4 x 113 x 6.3 x 14.3 x 8.81 x
FCF Yield - - 2.21% -2.54% 0.88% 15.9% 7% 11.4%
Price to Book 2.25 x 4.4 x 3.6 x 2.17 x 1.82 x 1.83 x 1.64 x 1.4 x
Nbr of stocks (in thousands) 2,032,021 2,032,021 2,381,470 2,368,139 2,364,177 2,386,293 - -
Reference price 2 15.39 30.77 28.59 18.92 17.13 18.65 18.65 18.65
Announcement Date 2/28/20 4/15/21 4/12/22 4/27/23 4/23/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,359 14,108 20,566 24,113 26,765 31,194 34,227 36,129
EBITDA 1 4,018 3,960 7,040 5,788 6,459 7,689 8,641 10,013
EBIT 1 3,050 2,831 5,554 4,086 3,917 4,784 5,746 6,761
Operating Margin 26.86% 20.07% 27% 16.94% 14.64% 15.34% 16.79% 18.71%
Earnings before Tax (EBT) 1 3,022 2,820 5,519 4,073 3,917 4,631 5,598 6,593
Net income 1 2,594 2,289 4,676 3,419 3,226 3,859 4,665 5,480
Net margin 22.84% 16.22% 22.74% 14.18% 12.05% 12.37% 13.63% 15.17%
EPS 2 1.290 1.130 2.120 1.440 1.350 1.617 1.955 2.297
Free Cash Flow 1 - - 1,580 -1,321 490.2 8,088 3,500 5,384
FCF margin - - 7.68% -5.48% 1.83% 25.93% 10.23% 14.9%
FCF Conversion (EBITDA) - - 22.44% - 7.59% 105.19% 40.5% 53.77%
FCF Conversion (Net income) - - 33.78% - 15.19% 209.58% 75.03% 98.26%
Dividend per Share 2 0.7500 1.010 1.150 - 0.9000 1.035 1.294 1.511
Announcement Date 2/28/20 4/15/21 4/12/22 4/27/23 4/23/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 5,297 6,068 6,332 5,630 6,083 6,276 7,014 6,503 7,294 8,367 8,530 8,225 - -
EBITDA 1 1,346 1,717 1,769 1,480 - - - - - 1,721 1,786 1,615 - -
EBIT 1 1,012 1,294 1,447 1,070 274.9 812.5 1,125 1,232 1,147 1,303 1,368 1,198 - -
Operating Margin 19.11% 21.32% 22.86% 19% 4.52% 12.95% 16.04% 18.95% 15.73% 15.58% 16.04% 14.56% - -
Earnings before Tax (EBT) 1 994.9 1,292 1,443 1,066 271.6 818 1,125 1,226 1,149 1,248 1,265 1,094 - -
Net income 1 845.6 1,064 1,202 907 246.1 682.6 880 1,084 951.1 1,036 1,048 882.9 - -
Net margin 15.96% 17.54% 18.98% 16.11% 4.05% 10.88% 12.55% 16.68% 13.04% 12.38% 12.28% 10.73% - -
EPS 2 0.2600 0.4500 0.5600 0.4000 0.0300 0.2800 0.3700 0.4600 0.4000 0.4340 0.4391 0.3700 - -
Dividend per Share 2 - 1.000 - 0.2000 - - - - 0.6000 0.3747 0.3747 0.3747 0.3747 0.3747
Announcement Date 4/12/22 4/19/22 8/19/22 10/24/22 4/27/23 8/25/23 10/13/23 4/23/24 4/23/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,121 3,925 3,555 7,189 14,929 6,423 5,520 2,916
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.7766 x 0.9912 x 0.5049 x 1.242 x 2.312 x 0.8354 x 0.6388 x 0.2912 x
Free Cash Flow 1 - - 1,580 -1,321 490 8,088 3,500 5,384
ROE (net income / shareholders' equity) 19.5% 16.2% 27.1% 16.7% 14.6% 15.8% 17.9% 17.9%
ROA (Net income/ Total Assets) 11.1% 7.54% 11.7% - 9.27% 5.78% 6.67% 7.3%
Assets 1 23,432 30,358 40,051 - 34,815 66,773 69,945 75,062
Book Value Per Share 2 6.830 6.990 7.940 8.710 9.420 10.20 11.40 13.30
Cash Flow per Share 2 0.9900 1.540 1.820 1.340 1.430 3.730 3.510 3.870
Capex 1 995 935 2,749 4,518 2,914 2,637 3,133 2,680
Capex / Sales 8.76% 6.62% 13.36% 18.74% 10.89% 8.45% 9.15% 7.42%
Announcement Date 2/28/20 4/15/21 4/12/22 4/27/23 4/23/24 - - -
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
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
18.65 CNY
Average target price
24.85 CNY
Spread / Average Target
+33.22%
Consensus
  1. Stock Market
  2. Equities
  3. 002601 Stock
  4. Financials LB Group Co., Ltd.