Financials Shandong Huatai Paper Industry Shareholding Co.,Ltd

Equities

600308

CNE0000014Y3

Paper Products

End-of-day quote Shanghai S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
3.55 CNY +2.31% Intraday chart for Shandong Huatai Paper Industry Shareholding Co.,Ltd +2.60% +2.60%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,079 5,359 6,048 7,227 5,493 5,248
Enterprise Value (EV) 1 7,124 6,415 6,117 6,522 5,543 5,701
P/E ratio 7.06 x 7.87 x 8.63 x 8.97 x 13.3 x 21.6 x
Yield 4.25% 3.81% 3.46% 3.36% - 1.36%
Capitalization / Revenue 0.34 x 0.4 x 0.49 x 0.48 x 0.36 x 0.39 x
EV / Revenue 0.48 x 0.47 x 0.5 x 0.44 x 0.37 x 0.43 x
EV / EBITDA 3.56 x 3.72 x 3.4 x 3.35 x 3.87 x 6.08 x
EV / FCF 11.4 x 6.39 x 4.63 x 11.5 x -89.9 x -4.7 x
FCF Yield 8.76% 15.6% 21.6% 8.66% -1.11% -21.3%
Price to Book 0.66 x 0.65 x 0.69 x 0.77 x 0.61 x 0.57 x
Nbr of stocks (in thousands) 1,634,586 1,634,586 1,634,586 1,634,586 1,516,870 1,516,870
Reference price 2 3.107 3.279 3.700 4.421 3.621 3.460
Announcement Date 3/29/19 4/24/20 4/23/21 3/30/22 4/21/23 4/19/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 14,763 13,539 12,308 14,903 15,174 13,291
EBITDA 1 2,000 1,723 1,801 1,947 1,432 938.2
EBIT 1 1,058 929.7 896.4 1,006 551.8 60.05
Operating Margin 7.17% 6.87% 7.28% 6.75% 3.64% 0.45%
Earnings before Tax (EBT) 1 923.4 800.4 839.7 994.2 534.3 283.7
Net income 1 719.1 680.2 696.4 808 426 237.1
Net margin 4.87% 5.02% 5.66% 5.42% 2.81% 1.78%
EPS 2 0.4400 0.4164 0.4286 0.4929 0.2714 0.1600
Free Cash Flow 1 623.8 1,004 1,321 564.9 -61.68 -1,214
FCF margin 4.23% 7.42% 10.73% 3.79% -0.41% -9.13%
FCF Conversion (EBITDA) 31.19% 58.28% 73.35% 29.01% - -
FCF Conversion (Net income) 86.75% 147.6% 189.69% 69.91% - -
Dividend per Share 2 0.1321 0.1250 0.1279 0.1486 - 0.0470
Announcement Date 3/29/19 4/24/20 4/23/21 3/30/22 4/21/23 4/19/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,045 1,056 68.8 - 50 453
Net Cash position 1 - - - 705 - -
Leverage (Debt/EBITDA) 1.023 x 0.6132 x 0.0382 x - 0.0349 x 0.4825 x
Free Cash Flow 1 624 1,004 1,321 565 -61.7 -1,214
ROE (net income / shareholders' equity) 9.44% 8.03% 7.5% 8.45% 4.17% 2.34%
ROA (Net income/ Total Assets) 4.66% 4.18% 3.92% 4.04% 2.18% 0.24%
Assets 1 15,414 16,256 17,781 19,981 19,514 96,830
Book Value Per Share 2 4.700 5.020 5.330 5.710 5.960 6.110
Cash Flow per Share 2 0.9200 1.000 1.480 1.800 1.490 1.350
Capex 1 736 880 788 657 833 1,087
Capex / Sales 4.98% 6.5% 6.4% 4.41% 5.49% 8.18%
Announcement Date 3/29/19 4/24/20 4/23/21 3/30/22 4/21/23 4/19/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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