End-of-day quote
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5-day change | 1st Jan Change | |
14.44 CNY | -1.84% | -6.78% | +0.21% |
Dec. 05 | Volkswagen: audit of Xinjiang site found no signs of forced labour | RE |
Dec. 04 | JSW Steel to Buy 35% Stake in SAIC’s MG Motor | MT |
Valuation
Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
---|---|---|---|---|---|---|---|---|
Capitalization 1 | 311 598 | 278 651 | 283 831 | 238 354 | 165 647 | 165 935 | - | - |
Enterprise Value (EV) 1 | 251 700 | 238 549 | 235 421 | 199 683 | 138 049 | 104 360 | 92 315 | 78 315 |
P/E ratio | 8,65x | 10,9x | 13,9x | 9,73x | 10,3x | 10,9x | 9,51x | 9,40x |
Yield | 4,72% | 3,69% | 2,54% | 3,31% | 2,34% | 2,39% | 3,72% | 2,62% |
Capitalization / Revenue | 0,35x | 0,34x | 0,39x | 0,31x | 0,23x | 0,23x | 0,22x | 0,21x |
EV / Revenue | 0,28x | 0,29x | 0,33x | 0,26x | 0,19x | 0,14x | 0,12x | 0,10x |
EV / EBITDA | 3,89x | 4,45x | 4,71x | 3,47x | 3,28x | 3,34x | 2,34x | 1,91x |
EV / FCF | -11,8x | 11,3x | 10,1x | 40,2x | -12,5x | 33,2x | 4,70x | 3,12x |
FCF Yield | -8,48% | 8,88% | 9,90% | 2,49% | -7,98% | 3,01% | 21,3% | 32,0% |
Price to Book | 1,33x | 1,12x | 1,10x | 0,88x | 0,60x | 0,58x | 0,55x | 0,52x |
Nbr of stocks (in thousands) | 11 683 461 | 11 683 461 | 11 613 360 | 11 553 742 | 11 495 278 | 11 491 325 | - | - |
Reference price 2 | 26,7 | 23,9 | 24,4 | 20,6 | 14,4 | 14,4 | 14,4 | 14,4 |
Announcement Date | 01.04.19 | 13.04.20 | 25.03.21 | 29.04.22 | 28.04.23 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
---|---|---|---|---|---|---|---|---|
Net sales 1 | 902 194 | 826 530 | 723 043 | 759 915 | 720 988 | 733 504 | 771 428 | 783 887 |
EBITDA 1 | 64 777 | 53 655 | 49 951 | 57 493 | 42 046 | 31 276 | 39 420 | 41 051 |
EBIT 1 | 53 674 | 40 345 | 35 607 | 41 447 | 26 022 | 25 827 | 30 495 | 28 807 |
Operating Margin | 5,95% | 4,88% | 4,92% | 5,45% | 3,61% | 3,52% | 3,95% | 3,67% |
Earnings before Tax (EBT) 1 | 54 344 | 40 958 | 35 892 | 41 558 | 28 071 | 26 547 | 29 487 | 28 706 |
Net income 1 | 36 009 | 25 603 | 20 431 | 24 533 | 16 118 | 15 391 | 17 679 | 17 862 |
Net margin | 3,99% | 3,10% | 2,83% | 3,23% | 2,24% | 2,10% | 2,29% | 2,28% |
EPS 2 | 3,08 | 2,19 | 1,75 | 2,12 | 1,40 | 1,32 | 1,52 | 1,54 |
Free Cash Flow 1 | -21 344 | 21 193 | 23 304 | 4 962 | -11 011 | 3 139 | 19 653 | 25 093 |
FCF margin | -2,37% | 2,56% | 3,22% | 0,65% | -1,53% | 0,43% | 2,55% | 3,20% |
FCF Conversion (EBITDA) | - | 39,5% | 46,7% | 8,63% | - | 10,0% | 49,9% | 61,1% |
FCF Conversion (Net income) | - | 82,8% | 114% | 20,2% | - | 20,4% | 111% | 140% |
Dividend per Share 2 | 1,26 | 0,88 | 0,62 | 0,68 | 0,34 | 0,34 | 0,54 | 0,38 |
Announcement Date | 01/04/19 | 13/04/20 | 25/03/21 | 29/04/22 | 28/04/23 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
Fiscal Period : December | 2020 S1 | 2020 S2 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2021 S2 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales 1 | 274 520 | 448 522 | 172 203 | 181 759 | 221 542 | 403 301 | 128 242 | 205 218 | 210 751 | 175 752 | 191 560 | 229 290 |
EBITDA | - | - | 8 290 | 8 801 | - | - | 4 464 | 9 439 | - | - | - | - |
EBIT | - | 23 189 | 11 711 | 11 206 | 6 468 | 17 674 | 3 127 | 8 435 | - | 8 009 | 8 179 | - |
Operating Margin | - | 5,17% | 6,80% | 6,17% | 2,92% | 4,38% | 2,44% | 4,11% | - | 4,56% | 4,27% | - |
Earnings before Tax (EBT) 1 | - | 23 196 | 11 710 | 11 323 | 6 283 | 17 606 | 3 170 | 8 666 | 7 225 | 8 006 | 8 203 | 11 134 |
Net income | 8 394 | 12 037 | 6 467 | 7 036 | 4 183 | - | 1 394 | 5 740 | 3 468 | 4 302 | 4 322 | - |
Net margin | 3,06% | 2,68% | 3,76% | 3,87% | 1,89% | - | 1,09% | 2,80% | 1,65% | 2,45% | 2,26% | - |
EPS 2 | - | 1,03 | 0,56 | 0,61 | 0,36 | - | 0,12 | 0,50 | 0,30 | 0,38 | 0,37 | 0,28 |
Dividend per Share 2 | - | - | - | - | 0,68 | - | - | - | 0,34 | - | - | 0,25 |
Announcement Date | 27/08/20 | 25/03/21 | 26/08/21 | 29/10/21 | 29/04/22 | 29/04/22 | 25/08/22 | 28/10/22 | 28/04/23 | 30/08/23 | 26/10/23 | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
---|---|---|---|---|---|---|---|---|
Net Debt 1 | - | - | - | - | - | - | - | - |
Net Cash position 1 | 59 898 | 40 102 | 48 409 | 38 671 | 27 598 | 61 575 | 73 620 | 87 620 |
Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
Free Cash Flow 1 | -21 344 | 21 193 | 23 304 | 4 962 | -11 011 | 3 139 | 19 653 | 25 093 |
ROE (net income / shareholders' equity) | 15,7% | 10,5% | 8,02% | 9,19% | 5,84% | 5,34% | 5,74% | 5,48% |
Shareholders' equity 1 | 229 797 | 243 147 | 254 751 | 266 954 | 275 985 | 288 192 | 308 098 | 326 092 |
ROA (Net income/ Total Assets) | 4,78% | 3,14% | 2,31% | 2,67% | - | 1,67% | 1,80% | 1,80% |
Assets 1 | 753 173 | 816 174 | 884 460 | 918 155 | - | 923 474 | 982 188 | 992 359 |
Book Value Per Share 2 | 20,1 | 21,4 | 22,3 | 23,4 | 23,9 | 24,9 | 26,4 | 28,0 |
Cash Flow per Share 2 | 0,77 | 3,96 | 3,21 | 1,85 | 0,81 | 1,96 | 2,92 | 1,96 |
Capex 1 | 30 319 | 25 079 | 14 214 | 16 654 | 20 516 | 32 521 | 22 808 | 20 323 |
Capex / Sales | 3,36% | 3,03% | 1,97% | 2,19% | 2,85% | 4,43% | 2,96% | 2,59% |
Announcement Date | 01/04/19 | 13/04/20 | 25/03/21 | 29/04/22 | 28/04/23 | - | - | - |
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-
Sell
Buy

Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
14.44CNY
Average target price
15.27CNY
Spread / Average Target
+5.72%
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
+0.21% | 23 738 M $ | |
-11.66% | 82 178 M $ | |
+7.89% | 78 874 M $ | |
+54.29% | 67 438 M $ | |
+69.10% | 63 848 M $ | |
+27.72% | 38 387 M $ | |
+54.59% | 25 536 M $ | |
+41.82% | 25 386 M $ | |
-34.22% | 11 541 M $ | |
+58.15% | 10 345 M $ |
- Stock
- Equities
- Stock SAIC Motor Corporation Limited - Shanghai Stock Exchange
- Financials SAIC Motor Corporation Limited