Financials Ningbo Yongxin Optics Co.,Ltd

Equities

603297

CNE100003J23

Office Equipment

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
72.96 CNY +3.86% Intraday chart for Ningbo Yongxin Optics Co.,Ltd +5.92% -26.56%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 3,633 3,795 3,993 13,378 9,171 8,111 8,111 -
Enterprise Value (EV) 1 3,633 3,795 3,993 12,793 8,938 10,267 7,244 7,630
P/E ratio - - 24.6 x 50.9 x 32.8 x 46.4 x 22.5 x 18.2 x
Yield - - 1.47% 0.74% 1.16% 0.96% 1.38% 1.46%
Capitalization / Revenue 6.47 x 6.62 x 6.93 x 16.8 x 11.1 x 12.9 x 5.8 x 4.84 x
EV / Revenue 6.47 x 6.62 x 6.93 x 16.1 x 10.8 x 12 x 5.18 x 4.56 x
EV / EBITDA 23.4 x 21.6 x 29.5 x 39.4 x 26.8 x 35.8 x 16.1 x 13.6 x
EV / FCF - - - 65.5 x 120 x 75.3 x 33 x 42 x
FCF Yield - - - 1.53% 0.84% 1.33% 3.03% 2.38%
Price to Book 3.53 x 3.36 x 3.17 x 9.06 x 5.5 x 6.09 x 3.69 x 3.24 x
Nbr of stocks (in thousands) 109,200 109,200 110,530 110,495 110,478 111,170 111,170 -
Reference price 2 33.27 34.75 36.13 121.1 83.01 72.96 72.96 72.96
Announcement Date 4/25/19 4/28/20 4/13/21 3/3/22 4/24/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 561.3 573 576.4 795.1 829.1 854.1 1,398 1,675
EBITDA 1 155.5 175.5 135.5 324.4 333.1 286.7 449.5 563
EBIT 1 140.3 159.7 184 303.1 308.8 252.4 384.5 516.8
Operating Margin 24.99% 27.87% 31.92% 38.12% 37.25% 29.55% 27.5% 30.85%
Earnings before Tax (EBT) 1 - - 186 304.5 308 251.8 395.9 488.9
Net income 1 - - 161.7 261.5 279 235.4 355.4 439.5
Net margin - - 28.05% 32.89% 33.65% 27.55% 25.41% 26.23%
EPS 2 - - 1.470 2.380 2.530 2.140 3.249 4.008
Free Cash Flow 1 - - - 195.3 74.74 136.4 219.6 181.7
FCF margin - - - 24.56% 9.01% 15.97% 15.71% 10.85%
FCF Conversion (EBITDA) - - - 60.19% 22.43% 47.58% 48.86% 32.28%
FCF Conversion (Net income) - - - 74.68% 26.79% 57.96% 61.81% 41.35%
Dividend per Share 2 - - 0.5300 0.9000 0.9600 0.9550 1.010 1.063
Announcement Date 4/25/19 4/28/20 4/13/21 3/3/22 4/24/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales - 214.1 - 221.3 417.2 - - - - 463.4 - - - -
EBITDA - - - - - - - - - - - - - -
EBIT - 53.64 - 80.84 152.9 - - - - 126.9 - - - -
Operating Margin - 25.05% - 36.53% 36.64% - - - - 27.38% - - - -
Earnings before Tax (EBT) - 53.81 - 80.09 152.1 - - - - 126.5 - - - -
Net income 54.06 43.59 - 80.09 142.3 - - - - 119.5 - - - -
Net margin - 20.36% - 36.19% 34.1% - - - - 25.78% - - - -
EPS 1 0.4900 0.4300 0.5600 0.7400 1.300 0.4300 0.6200 0.5200 0.5700 1.090 0.5700 0.5700 0.5500 0.7400
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 10/27/21 3/3/22 10/30/22 4/24/23 4/24/23 4/24/23 8/28/23 10/30/23 4/26/24 4/26/24 - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - 584 233 778 867 481
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - 195 74.7 136 220 182
ROE (net income / shareholders' equity) 20% 12.9% 13.6% 19.2% 17.9% 13.6% 16% 17.8%
ROA (Net income/ Total Assets) - 11.5% 11.9% 16.2% 14.6% 13.1% 14.7% 16.3%
Assets 1 - - 1,364 1,618 1,913 2,052 2,422 2,704
Book Value Per Share 2 9.430 10.30 11.40 13.40 15.10 16.30 19.80 22.50
Cash Flow per Share 2 1.270 1.210 1.710 1.570 1.960 1.970 2.590 3.680
Capex 1 68.7 84.1 57.7 72.2 141 82.6 59 98.3
Capex / Sales 12.24% 14.68% 10.01% 9.08% 17.05% 9.67% 4.22% 5.87%
Announcement Date 4/25/19 4/28/20 4/13/21 3/3/22 4/24/23 4/26/24 - -
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
8
Last Close Price
72.96 CNY
Average target price
95 CNY
Spread / Average Target
+30.21%
Consensus
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