Financials Ningbo Tianlong Electronics Co., Ltd.

Equities

603266

CNE100002ZF7

Auto, Truck & Motorcycle Parts

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
18.82 CNY +3.35% Intraday chart for Ningbo Tianlong Electronics Co., Ltd. +4.09% -34.52%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,933 2,291 2,224 2,673 2,466 5,716
Enterprise Value (EV) 1 1,681 2,054 1,898 2,413 2,257 5,401
P/E ratio 28.8 x 34.9 x 23.8 x 27.4 x 20 x 51.3 x
Yield 0.72% 0.61% 0.89% 0.82% 1.05% -
Capitalization / Revenue 2.09 x 2.49 x 2.29 x 2.26 x 1.97 x 4.34 x
EV / Revenue 1.81 x 2.23 x 1.95 x 2.04 x 1.8 x 4.1 x
EV / EBITDA 15.6 x 21.2 x 14.2 x 17 x 14.6 x 28.2 x
EV / FCF -41 x 12.6 x 27.9 x 49.7 x 55.8 x 39.4 x
FCF Yield -2.44% 7.92% 3.58% 2.01% 1.79% 2.54%
Price to Book 2.28 x 2.52 x 2.17 x 2.21 x 1.84 x 4.12 x
Nbr of stocks (in thousands) 196,000 199,075 198,965 198,911 198,887 198,887
Reference price 2 9.864 11.51 11.18 13.44 12.40 28.74
Announcement Date 4/22/19 4/28/20 4/23/21 4/22/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 926.6 919 973.3 1,185 1,254 1,318
EBITDA 1 107.6 96.9 133.4 141.5 154.8 191.4
EBIT 1 68.48 54.48 89.99 94.58 104.5 136
Operating Margin 7.39% 5.93% 9.25% 7.98% 8.33% 10.32%
Earnings before Tax (EBT) 1 83.75 72.17 102.9 106.2 131.6 122.1
Net income 1 67.17 65.11 92.77 97.96 122.8 111.5
Net margin 7.25% 7.08% 9.53% 8.27% 9.79% 8.46%
EPS 2 0.3427 0.3300 0.4700 0.4900 0.6200 0.5600
Free Cash Flow 1 -41.05 162.6 67.97 48.58 40.43 136.9
FCF margin -4.43% 17.7% 6.98% 4.1% 3.22% 10.39%
FCF Conversion (EBITDA) - 167.84% 50.95% 34.32% 26.11% 71.55%
FCF Conversion (Net income) - 249.79% 73.27% 49.6% 32.91% 122.82%
Dividend per Share 2 0.0714 0.0700 0.1000 0.1100 0.1300 -
Announcement Date 4/22/19 4/28/20 4/23/21 4/22/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 252 238 326 260 209 315
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -41.1 163 68 48.6 40.4 137
ROE (net income / shareholders' equity) 8.47% 7.48% 9.58% 8.77% 9.63% 8.07%
ROA (Net income/ Total Assets) 4.02% 2.99% 4.44% 3.84% 3.59% 4.3%
Assets 1 1,673 2,175 2,089 2,553 3,423 2,591
Book Value Per Share 2 4.330 4.570 5.160 6.080 6.750 6.970
Cash Flow per Share 2 0.5800 0.5600 0.7300 0.5900 1.110 1.310
Capex 1 68.6 41.5 45.9 66.5 58.6 62.7
Capex / Sales 7.41% 4.52% 4.72% 5.61% 4.67% 4.76%
Announcement Date 4/22/19 4/28/20 4/23/21 4/22/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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