SDIC POWER HOLDINGS CO., LTD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 15.51 CNY | -0.70% |
|
-2.08% | +17.68% |
| Apr. 25 | Sdic Power Holdings Co., Ltd Approves Appointment of Guo Xuyuan as the Chairman of the 12Th Board of Directors | CI |
| Apr. 16 | SDIC Power's Power Generation Climbs 3% in Q1 | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 54,627 | 62,296 | 60,185 | 85,499 | 80,729 | 115,614 | 115,614 | - |
| Enterprise Value (EV) 1 | 182,412 | 185,250 | 182,051 | 208,142 | 208,192 | 241,034 | 242,889 | 245,911 |
| P/E ratio | 12.9 x | 13.7 x | 11.1 x | 35.8 x | 20.8 x | 17 x | 14.9 x | 13.8 x |
| Yield | 2.8% | 2.67% | 3.24% | 1.43% | 2.54% | 2.6% | 2.93% | 3.13% |
| Capitalization / Revenue | 1.33 x | 1.47 x | 1.53 x | 1.96 x | 1.6 x | 2.08 x | 1.98 x | 1.89 x |
| EV / Revenue | 4.45 x | 4.37 x | 4.63 x | 4.76 x | 4.12 x | 4.33 x | 4.15 x | 4.02 x |
| EV / EBITDA | 10.8 x | 10.4 x | 9.66 x | 13.9 x | 10.9 x | 7.95 x | 7.41 x | 7.11 x |
| EV / FCF | 20.3 x | 18 x | 17.2 x | 38.6 x | 30.7 x | 313 x | -49.5 x | -70.9 x |
| FCF Yield | 4.93% | 5.57% | 5.8% | 2.59% | 3.26% | 0.32% | -2.02% | -1.41% |
| Price to Book | 1.62 x | 1.54 x | 1.45 x | 1.87 x | 1.65 x | 1.97 x | 1.83 x | 1.7 x |
| Nbr of stocks (in thousands) | 6,786,023 | 6,786,023 | 6,965,873 | 7,454,180 | 7,454,180 | 7,454,180 | 7,454,180 | - |
| Reference price 2 | 8.050 | 9.180 | 8.640 | 11.47 | 10.83 | 15.51 | 15.51 | 15.51 |
| Announcement Date | 3/28/19 | 4/17/20 | 4/28/21 | 4/28/22 | 4/28/23 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 41,011 | 42,433 | 39,320 | 43,682 | 50,489 | 55,656 | 58,520 | 61,148 |
| EBITDA 1 | 16,881 | 17,813 | 18,846 | 14,999 | 19,034 | 30,305 | 32,771 | 34,594 |
| EBIT 1 | 9,684 | 10,237 | 11,606 | 6,414 | 9,412 | 15,794 | 18,192 | 19,665 |
| Operating Margin | 23.61% | 24.12% | 29.52% | 14.68% | 18.64% | 28.38% | 31.09% | 32.16% |
| Earnings before Tax (EBT) 1 | 9,729 | 10,317 | 11,710 | 6,549 | 9,433 | 14,997 | 17,118 | 18,392 |
| Net income 1 | 4,364 | 4,755 | 5,516 | 2,437 | 4,079 | 6,797 | 7,751 | 8,391 |
| Net margin | 10.64% | 11.21% | 14.03% | 5.58% | 8.08% | 12.21% | 13.25% | 13.72% |
| EPS 2 | 0.6256 | 0.6705 | 0.7770 | 0.3202 | 0.5213 | 0.9109 | 1.038 | 1.124 |
| Free Cash Flow 1 | 8,994 | 10,317 | 10,555 | 5,389 | 6,787 | 770 | -4,907 | -3,466 |
| FCF margin | 21.93% | 24.31% | 26.84% | 12.34% | 13.44% | 1.38% | -8.39% | -5.67% |
| FCF Conversion (EBITDA) | 53.28% | 57.92% | 56.01% | 35.93% | 35.66% | 2.54% | - | - |
| FCF Conversion (Net income) | 206.1% | 216.96% | 191.36% | 221.16% | 166.37% | 11.33% | - | - |
| Dividend per Share 2 | 0.2250 | 0.2453 | 0.2800 | 0.1635 | 0.2750 | 0.4035 | 0.4540 | 0.4860 |
| Announcement Date | 3/28/19 | 4/17/20 | 4/28/21 | 4/28/22 | 4/28/23 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | 13,021 | 11,372 | - | 11,652 | 15,477 | 12,318 | - | 13,111 | 16,182 | 13,477 | 11,626 | 14,532 | 17,439 | 14,532 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 2,544 | 2,795 | -1,315 | - | 2,784 | 4,012 | 355 | - | 3,263 | 5,666 | - | - | - | - | - |
| Operating Margin | - | - | 21.47% | -11.57% | - | 23.9% | 25.92% | 2.88% | - | 24.89% | 35.02% | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | - | 2,853 | -1,339 | - | 2,811 | 3,994 | 341.9 | - | 3,282 | 5,749 | 2,644 | 3,361 | 4,202 | 5,042 | 4,202 |
| Net income 1 | 2,276 | 1,117 | 1,124 | -1,024 | 1,038 | 1,310 | 1,778 | -46.96 | 1,614 | 1,723 | 2,715 | 422.5 | 1,475 | 1,843 | 2,212 | 1,843 |
| Net margin | - | - | 8.64% | -9.01% | - | 11.25% | 11.49% | -0.38% | - | 13.14% | 16.78% | 3.14% | 12.68% | 12.68% | 12.68% | 12.68% |
| EPS 2 | - | 0.1500 | 0.1600 | -0.1600 | - | 0.1700 | 0.2300 | -0.0100 | - | 0.2300 | 0.3500 | 0.0567 | 0.1978 | 0.2473 | 0.2967 | 0.2473 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.4946 | - |
| Announcement Date | 8/25/19 | 8/30/21 | 10/29/21 | 4/28/22 | 4/28/22 | 8/30/22 | 10/28/22 | 4/28/23 | 4/28/23 | 8/29/23 | 10/27/23 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 127,784 | 122,955 | 121,866 | 122,643 | 127,463 | 125,420 | 127,275 | 130,296 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.57 x | 6.903 x | 6.466 x | 8.177 x | 6.697 x | 4.139 x | 3.884 x | 3.766 x |
| Free Cash Flow 1 | 8,994 | 10,317 | 10,555 | 5,389 | 6,787 | 770 | -4,907 | -3,466 |
| ROE (net income / shareholders' equity) | 12.4% | 11.7% | 13.8% | 5.34% | 8.25% | 11.9% | 12.6% | 12.6% |
| ROA (Net income/ Total Assets) | 2.04% | 2.14% | 2.43% | 1.04% | - | 2.47% | 2.73% | 2.84% |
| Assets 1 | 214,452 | 222,738 | 226,794 | 235,140 | - | 275,198 | 284,442 | 295,861 |
| Book Value Per Share 2 | 4.970 | 5.950 | 5.960 | 6.140 | 6.550 | 7.870 | 8.490 | 9.120 |
| Cash Flow per Share 2 | 2.830 | 3.000 | 2.980 | 1.960 | 2.950 | 3.330 | 4.380 | 4.120 |
| Capex 1 | 10,224 | 10,037 | 10,188 | 9,242 | 15,177 | 14,986 | 19,610 | 20,540 |
| Capex / Sales | 24.93% | 23.65% | 25.91% | 21.16% | 30.06% | 26.93% | 33.51% | 33.59% |
| Announcement Date | 3/28/19 | 4/17/20 | 4/28/21 | 4/28/22 | 4/28/23 | - | - | - |
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
BUY
Number of Analysts
9
Last Close Price
15.51
CNY
Average target price
16.08
CNY
Spread / Average Target
+3.65%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +17.68% | 15.95B | |
| +14.41% | 41.39B | |
| +12.65% | 27.36B | |
| +25.58% | 12.07B | |
| +21.90% | 8.9B | |
| +22.76% | 6.41B | |
| +56.88% | 5.9B | |
| +33.57% | 5.08B | |
| -1.01% | 4.17B | |
| 0.00% | 3.72B |
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- Financials SDIC Power Holdings Co., Ltd
