Financials Marssenger Kitchenware Co., Ltd.

Equities

300894

CNE1000049T7

Appliances, Tools & Housewares

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
16.72 CNY +4.63% Intraday chart for Marssenger Kitchenware Co., Ltd. +2.58% +2.96%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,845 19,914 10,238 6,638 6,842 - -
Enterprise Value (EV) 1 19,845 19,914 10,238 5,853 6,463 6,311 6,842
P/E ratio 72.1 x 52.9 x 32.8 x 27.5 x 21.3 x 17.6 x 18.1 x
Yield - 0.61% 2.37% 3.69% 3.41% 2.43% 4.49%
Capitalization / Revenue 12.3 x 8.59 x 4.5 x 3.1 x 3.11 x 2.67 x 2.73 x
EV / Revenue 12.3 x 8.59 x 4.5 x 2.74 x 2.94 x 2.46 x 2.73 x
EV / EBITDA 51.8 x 39.2 x 22 x 14.8 x 15.2 x 12.6 x 13.7 x
EV / FCF - 46.5 x 264 x 23.4 x 19.7 x 17.1 x 17.6 x
FCF Yield - 2.15% 0.38% 4.28% 5.07% 5.85% 5.67%
Price to Book 14.8 x 13.5 x 6.63 x 4.28 x 3.73 x 3.07 x 3.09 x
Nbr of stocks (in thousands) 405,000 405,000 405,000 408,770 409,237 - -
Reference price 2 49.00 49.17 25.28 16.24 16.72 16.72 16.72
Announcement Date 4/20/21 4/14/22 4/24/23 4/21/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,326 1,614 2,319 2,277 2,139 2,200 2,564 2,510
EBITDA 1 - 383 508.2 465.7 395.9 426.6 500.3 500.6
EBIT 1 - 315.1 429.4 351.1 272.6 356.5 426.2 423.8
Operating Margin - 19.52% 18.52% 15.42% 12.74% 16.21% 16.62% 16.89%
Earnings before Tax (EBT) 1 - 320.6 434.8 350.8 274.2 360.4 438.1 425.7
Net income 1 - 275.2 375.7 314.5 247.2 322 388.6 379.4
Net margin - 17.05% 16.2% 13.81% 11.56% 14.63% 15.15% 15.12%
EPS 2 0.6600 0.6800 0.9300 0.7700 0.5900 0.7857 0.9504 0.9250
Free Cash Flow 1 - - 428.1 38.74 250.4 328 369 388
FCF margin - - 18.46% 1.7% 11.71% 14.91% 14.39% 15.46%
FCF Conversion (EBITDA) - - 84.24% 8.32% 63.25% 76.9% 73.76% 77.51%
FCF Conversion (Net income) - - 113.93% 12.32% 101.29% 101.87% 94.95% 102.28%
Dividend per Share 2 - - 0.3000 0.6000 0.6000 0.5700 0.4068 0.7500
Announcement Date 12/13/20 4/20/21 4/14/22 4/24/23 4/21/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 720.5 - 572.6 1,023 618.2 - - - 568.7
EBITDA - - - - - - - - -
EBIT - - - - - - - - -
Operating Margin - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - -
Net income 1 102.3 60.1 78.36 138.5 80.44 48.86 87.14 86.61 24.63
Net margin 14.2% - 13.68% 13.53% 13.01% - - - 4.33%
EPS - 0.1500 - - - 0.1200 0.2100 0.2000 -
Dividend per Share - - - - - - - - -
Announcement Date 4/14/22 4/25/22 8/28/22 8/28/22 10/24/22 4/27/23 8/28/23 10/30/23 4/21/24
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - - 786 379 531 -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - 428 38.7 250 328 369 388
ROE (net income / shareholders' equity) - 38.3% 27% 20.1% 15.2% 17.6% 18% 17.6%
ROA (Net income/ Total Assets) - 16.6% 16.5% - 7.57% 9.1% 10.5% -
Assets 1 - 1,661 2,282 - 3,267 3,538 3,689 -
Book Value Per Share 2 - 3.320 3.650 3.820 3.790 4.480 5.450 5.420
Cash Flow per Share 2 - 1.050 1.500 0.6400 1.090 1.130 1.240 1.280
Capex 1 - 172 179 221 194 190 138 111
Capex / Sales - 10.67% 7.72% 9.69% 9.08% 8.64% 5.37% 4.43%
Announcement Date 12/13/20 4/20/21 4/14/22 4/24/23 4/21/24 - - -
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
BUY
Number of Analysts
9
Last Close Price
16.72 CNY
Average target price
17.65 CNY
Spread / Average Target
+5.56%
Consensus
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