Financials Sangfor Technologies Inc.

Equities

300454

CNE1000033T1

Software

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
54.25 CNY -1.52% Intraday chart for Sangfor Technologies Inc. +1.55% -24.96%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 46,779 102,631 79,401 46,637 30,256 22,644 - -
Enterprise Value (EV) 1 46,454 102,373 78,922 46,074 31,514 22,029 20,807 18,859
P/E ratio 60.5 x 125 x 289 x 239 x 154 x 71.8 x 38.3 x 27.1 x
Yield 0.17% 0.08% 0.04% - 0.07% 0.16% 0.26% 0.35%
Capitalization / Revenue 10.2 x 18.8 x 11.7 x 6.29 x 3.95 x 2.85 x 2.22 x 1.94 x
EV / Revenue 10.1 x 18.8 x 11.6 x 6.22 x 4.11 x 2.77 x 2.04 x 1.61 x
EV / EBITDA 51.1 x 112 x 159 x 110 x 74.6 x 47.4 x 30 x 23.3 x
EV / FCF 56.3 x 93.9 x 123 x 161 x 50.6 x 84.7 x 37.7 x 17.4 x
FCF Yield 1.78% 1.06% 0.81% 0.62% 1.98% 1.18% 2.65% 5.75%
Price to Book 10.8 x 15.8 x 10.9 x 6.06 x 3.49 x 2.63 x 2.51 x 2.25 x
Nbr of stocks (in thousands) 408,944 413,817 415,713 414,365 418,530 417,406 - -
Reference price 2 114.4 248.0 191.0 112.6 72.29 54.25 54.25 54.25
Announcement Date 2/27/20 2/7/21 4/19/22 4/13/23 4/9/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,590 5,458 6,805 7,413 7,662 7,956 10,195 11,698
EBITDA 1 909.5 912.5 496.1 418.1 422.6 464.6 694.7 809.8
EBIT 1 788.6 760.6 249.2 204 209 321.7 660.9 663.4
Operating Margin 17.18% 13.93% 3.66% 2.75% 2.73% 4.04% 6.48% 5.67%
Earnings before Tax (EBT) 1 790.8 765.5 256.4 218.7 203.7 420.9 662.5 756.2
Net income 1 758.9 809.4 272.9 194.2 197.8 317.1 608.2 806.1
Net margin 16.53% 14.83% 4.01% 2.62% 2.58% 3.99% 5.97% 6.89%
EPS 2 1.890 1.990 0.6600 0.4700 0.4700 0.7558 1.415 2.000
Free Cash Flow 1 824.9 1,090 642.1 286.8 623.2 260 551.8 1,084
FCF margin 17.97% 19.96% 9.44% 3.87% 8.13% 3.27% 5.41% 9.27%
FCF Conversion (EBITDA) 90.7% 119.42% 129.45% 68.61% 147.44% 55.96% 79.43% 133.92%
FCF Conversion (Net income) 108.7% 134.64% 235.34% 147.73% 314.99% 81.99% 90.72% 134.53%
Dividend per Share 2 0.1900 0.2000 0.0700 - 0.0500 0.0860 0.1434 0.1900
Announcement Date 2/27/20 2/7/21 4/19/22 4/13/23 4/9/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S2 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 3,714 2,429 1,144 1,671 2,815 1,933 2,665 1,213 1,721 1,874 2,854 1,035 2,024 2,177 2,885 1,335 1,958
EBITDA - - - - - - - - - - - - - - - - -
EBIT 886.4 534.7 -503 -171.9 - -11.16 890 -425 - 9.125 769.6 - - - - - -
Operating Margin 23.86% 22.01% -43.97% -10.29% - -0.58% 33.39% -35.04% - 0.49% 26.97% - - - - - -
Earnings before Tax (EBT) 1 889.6 - - - - - - - - - 761.8 -490.4 -247 -77 1,032 - -
Net income 1 935 405.4 -517.7 -171.8 -689.6 -7.151 890.9 -412 -141.5 7.937 743.4 -488.8 90.06 197.1 545.9 -296.3 -168.3
Net margin 25.17% 16.69% -45.26% -10.28% -24.5% -0.37% 33.43% -33.97% -8.22% 0.42% 26.05% -47.22% 4.45% 9.05% 18.92% -22.19% -8.59%
EPS 2 2.310 0.3300 -1.250 -0.4200 - -0.0200 2.160 -0.9900 -0.3400 0.0200 1.780 -1.160 -0.1200 0.1900 1.670 -0.7058 -0.4008
Dividend per Share 2 - 0.0700 - - - - - - - - - - 0.0205 0.0205 0.0205 0.0346 0.0346
Announcement Date 2/7/21 4/19/22 4/26/22 8/26/22 8/26/22 10/27/22 4/13/23 4/25/23 8/30/23 10/25/23 4/9/24 4/25/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - 1,258 - - -
Net Cash position 1 325 257 479 563 - 615 1,838 3,786
Leverage (Debt/EBITDA) - - - - 2.978 x - - -
Free Cash Flow 1 825 1,090 642 287 623 260 552 1,085
ROE (net income / shareholders' equity) 19.7% 16.6% 4.02% 2.6% 2.41% 3.9% 6.39% 6.59%
ROA (Net income/ Total Assets) 12.7% 9.85% 2.65% - - 2.58% 4.03% 3.42%
Assets 1 5,953 8,215 10,303 - - 12,310 15,098 23,571
Book Value Per Share 2 10.60 15.70 17.60 18.60 20.70 20.60 21.70 24.20
Cash Flow per Share 2 2.800 3.180 2.380 1.790 2.260 2.070 2.550 3.060
Capex 1 320 228 349 459 323 237 233 257
Capex / Sales 6.97% 4.18% 5.13% 6.19% 4.22% 2.98% 2.28% 2.2%
Announcement Date 2/27/20 2/7/21 4/19/22 4/13/23 4/9/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
54.25 CNY
Average target price
68.9 CNY
Spread / Average Target
+27.01%
Consensus
  1. Stock Market
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  4. Financials Sangfor Technologies Inc.