Financials Sanxiang Advanced Materials Co., Ltd.

Equities

603663

CNE1000030V3

Specialty Mining & Metals

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
18.26 CNY -1.62% Intraday chart for Sanxiang Advanced Materials Co., Ltd. +3.81% +66.15%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,307 2,542 2,887 5,965 3,842 4,656
Enterprise Value (EV) 1 2,344 2,818 3,199 5,953 3,949 4,866
P/E ratio 30.8 x 30.4 x 44.1 x 54.4 x 25.4 x 57.8 x
Yield 0.88% 0.75% 0.67% 0.36% 0.79% -
Capitalization / Revenue 3.85 x 3.34 x 3.94 x 7.56 x 3.95 x 4.31 x
EV / Revenue 3.92 x 3.7 x 4.36 x 7.54 x 4.06 x 4.51 x
EV / EBITDA 24.7 x 16.8 x 23.8 x 33 x 16.4 x 22.9 x
EV / FCF -37.6 x -17.7 x -16 x -551 x -67.3 x 161 x
FCF Yield -2.66% -5.64% -6.25% -0.18% -1.49% 0.62%
Price to Book 4.35 x 4.82 x 4.4 x 5.51 x 3.18 x 3.27 x
Nbr of stocks (in thousands) 372,385 372,384 377,222 421,306 423,178 423,674
Reference price 2 6.195 6.827 7.653 14.16 9.079 10.99
Announcement Date 3/21/19 3/19/20 3/23/21 4/20/22 4/19/23 4/19/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 598.5 761.1 733.1 789.2 972.3 1,080
EBITDA 1 94.76 168.2 134.3 180.6 240.3 212.5
EBIT 1 81.46 138.1 97.6 135.5 196 159
Operating Margin 13.61% 18.15% 13.31% 17.17% 20.15% 14.72%
Earnings before Tax (EBT) 1 85 131.2 85.47 120.5 186.7 80.6
Net income 1 74.18 82.71 64.84 100.5 150.9 79.23
Net margin 12.39% 10.87% 8.84% 12.73% 15.52% 7.34%
EPS 2 0.2009 0.2245 0.1735 0.2602 0.3571 0.1900
Free Cash Flow 1 -62.39 -159 -200.1 -10.8 -58.68 30.29
FCF margin -10.42% -20.9% -27.29% -1.37% -6.03% 2.8%
FCF Conversion (EBITDA) - - - - - 14.26%
FCF Conversion (Net income) - - - - - 38.23%
Dividend per Share 2 0.0547 0.0510 0.0510 0.0510 0.0714 -
Announcement Date 3/21/19 3/19/20 3/23/21 4/20/22 4/19/23 4/19/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 36.7 276 313 - 107 210
Net Cash position 1 - - - 12.4 - -
Leverage (Debt/EBITDA) 0.3877 x 1.64 x 2.327 x - 0.444 x 0.9886 x
Free Cash Flow 1 -62.4 -159 -200 -10.8 -58.7 30.3
ROE (net income / shareholders' equity) 14% 18.7% 11.3% 11% 13.4% 5.54%
ROA (Net income/ Total Assets) 7.15% 9.15% 5.15% 5.9% 7.33% 5.2%
Assets 1 1,037 903.6 1,259 1,703 2,060 1,525
Book Value Per Share 2 1.420 1.420 1.740 2.570 2.860 3.360
Cash Flow per Share 2 0.1400 0.1200 0.1700 0.2700 0.1700 0.1700
Capex 1 108 109 250 103 134 94.3
Capex / Sales 18.06% 14.39% 34.06% 13.06% 13.81% 8.73%
Announcement Date 3/21/19 3/19/20 3/23/21 4/20/22 4/19/23 4/19/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
18.26 CNY
Average target price
17 CNY
Spread / Average Target
-6.90%
Consensus

Annual profits - Rate of surprise

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