Financials Morimatsu International Holdings Company Limited

Equities

2155

HK0000709128

Industrial Machinery & Equipment

Delayed Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
4.83 HKD +7.10% Intraday chart for Morimatsu International Holdings Company Limited +14.18% -12.18%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 7,566 8,222 5,949 5,320 - -
Enterprise Value (EV) 1 7,566 8,222 5,949 5,320 5,320 5,320
P/E ratio 19.2 x 13.1 x 7.58 x 5.46 x 4.61 x 3.88 x
Yield - - - 1.23% 3.71% 3.58%
Capitalization / Revenue 1.77 x 1.27 x 0.81 x 0.63 x 0.54 x 0.47 x
EV / Revenue 1.77 x 1.27 x 0.81 x 0.63 x 0.54 x 0.47 x
EV / EBITDA 13.4 x 9.23 x 5.2 x 3.91 x 3.28 x 2.79 x
EV / FCF 10,427,460 x - - - - -
FCF Yield 0% - - - - -
Price to Book 3.76 x 2.92 x 1.35 x 0.94 x 0.75 x 0.56 x
Nbr of stocks (in thousands) 1,037,500 1,073,796 1,190,092 1,189,922 - -
Reference price 2 8.950 8.670 5.500 4.830 4.830 4.830
Announcement Date 3/25/22 3/22/23 3/28/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,979 4,279 6,486 7,360 8,501 9,881 11,281
EBITDA 1 - 563.5 890.7 1,143 1,360 1,624 1,910
EBIT 1 - 473.4 781.6 1,006 1,206 1,431 1,675
Operating Margin - 11.06% 12.05% 13.66% 14.19% 14.48% 14.85%
Earnings before Tax (EBT) 1 - 447.8 760.9 984.3 1,127 1,343 1,568
Net income 1 289.4 380.6 669.3 844.7 1,015 1,209 1,447
Net margin 9.72% 8.89% 10.32% 11.48% 11.94% 12.24% 12.83%
EPS 2 - 0.4669 0.6617 0.7253 0.8843 1.047 1.244
Free Cash Flow - 725.6 - - - - -
FCF margin - 16.96% - - - - -
FCF Conversion (EBITDA) - 128.75% - - - - -
FCF Conversion (Net income) - 190.67% - - - - -
Dividend per Share 2 - - - - 0.0595 0.1790 0.1730
Announcement Date 6/14/21 3/25/22 3/22/23 3/28/24 - - -
1CNY in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 S2
Net sales 1 - 3,521
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 302.7 -
Net margin - -
EPS 0.3237 -
Dividend per Share - -
Announcement Date 8/18/22 3/22/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - 726 - - - - -
ROE (net income / shareholders' equity) - 25.3% 27.8% 23.5% 19.6% 18.6% 16.9%
ROA (Net income/ Total Assets) - 8.72% 9.8% 10% 9.59% 9.52% 9.09%
Assets 1 - 4,365 6,833 8,446 10,580 12,700 15,919
Book Value Per Share 2 - 2.380 2.970 4.080 5.130 6.400 8.560
Cash Flow per Share 2 - - 0.8900 - 0.9000 1.260 1.440
Capex 1 - 443 867 - 724 758 780
Capex / Sales - 10.36% 13.37% - 8.52% 7.67% 6.91%
Announcement Date 6/14/21 3/25/22 3/22/23 3/28/24 - - -
1CNY in Million2HKD
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
3
Last Close Price
4.83 HKD
Average target price
8.187 HKD
Spread / Average Target
+69.50%
Consensus

Annual profits - Rate of surprise

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