Financials Shandong Publishing&Media Co.,Ltd

Equities

601019

CNE100002TG8

Consumer Publishing

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
10.03 ^CNY	-0.30%		-7.47%	+6.93%

Apr. 19	Shandong Publishing & Media's 2023 Profit Jumps 41%	MT
Apr. 18	Shandong Publishing&Media Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,834	13,106	19,575	20,932	-	-
Enterprise Value (EV) ¹	12,834	13,106	19,575	20,932	20,932	20,932
P/E ratio	8.42 x	7.75 x	8.23 x	12.3 x	11.5 x	9.12 x
Yield	-	6.21%	5.97%	5.58%	5.58%	-
Capitalization / Revenue	-	1.17 x	1.61 x	1.58 x	1.44 x	1.27 x
EV / Revenue	-	1.17 x	1.61 x	1.58 x	1.44 x	1.27 x
EV / EBITDA	-	6.63 x	8.37 x	9.54 x	9.14 x	-
EV / FCF	-	7,377,590 x	-	-	-	-
FCF Yield	-	0%	-	-	-	-
Price to Book	-	0.98 x	1.32 x	1.33 x	1.25 x	1.06 x
Nbr of stocks (in thousands)	2,086,900	2,086,900	2,086,900	2,086,900	-	-
Reference price ²	6.150	6.280	9.380	10.03	10.03	10.03
Announcement Date	4/8/22	4/14/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	11,215	12,154	13,262	14,516	16,491
EBITDA ¹	-	1,976	2,339	2,193	2,289	-
EBIT ¹	-	1,668	2,021	2,138	2,307	2,767
Operating Margin	-	14.87%	16.63%	16.12%	15.89%	16.78%
Earnings before Tax (EBT) ¹	-	1,669	2,098	2,178	2,350	2,856
Net income ¹	1,533	1,680	2,376	1,696	1,832	2,301
Net margin	-	14.98%	19.55%	12.78%	12.62%	13.95%
EPS ²	0.7300	0.8100	1.140	0.8150	0.8750	1.100
Free Cash Flow	-	1,776	-	-	-	-
FCF margin	-	15.84%	-	-	-	-
FCF Conversion (EBITDA)	-	89.91%	-	-	-	-
FCF Conversion (Net income)	-	105.71%	-	-	-	-
Dividend per Share ²	-	0.3900	0.5600	0.5600	0.5600	-
Announcement Date	4/8/22	4/14/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	2022 S1	2022 Q3	2023 Q1	2023 Q3
Net sales ¹	-	2,850	4,889	2,456	2,172	2,827
EBITDA	-	-	-	-	-	-
EBIT	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income ¹	212.9	649.3	862.1	273	211.6	359.3
Net margin	-	22.78%	17.63%	11.11%	9.74%	12.71%
EPS	0.1000	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	4/28/22	8/24/22	8/24/22	10/28/22	4/28/23	10/30/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	1,776	-	-	-	-
ROE (net income / shareholders' equity)	-	13%	16.7%	10.8%	10.9%	11.6%
ROA (Net income/ Total Assets)	-	8.36%	-	6.6%	6.7%	-
Assets ¹	-	20,091	-	25,689	27,351	-
Book Value Per Share ²	-	6.400	7.120	7.560	8.060	9.500
Cash Flow per Share ²	-	1.030	1.160	0.8800	1.040	1.320
Capex ¹	-	369	60.5	663	438	186
Capex / Sales	-	3.29%	0.5%	5%	3.02%	1.13%
Announcement Date	4/8/22	4/14/23	4/18/24	-	-	-

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

Ratings for Shandong Publishing&Media Co.,Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.03 CNY

Average target price

12 CNY

Spread / Average Target

+19.64%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Book Publishing

	1st Jan change	Capi.
SHANDONG PUBLISHING&MEDIA CO.,LTD	+6.93%	2.89B
CHINESE UNIVERSE PUBLISHING AND MEDIA GROUP CO., LTD.	+10.09%	2.71B
ZHEJIANG PUBLISHING & MEDIA CO., LTD.	+9.95%	2.58B
CHINA SCIENCE PUBLISHING & MEDIA LTD.	-5.84%	2.53B
COL GROUP CO.,LTD.	-4.43%	2.48B
CHINA PUBLISHING & MEDIA HOLDINGS CO., LTD.	-8.79%	1.94B
ANHUI XINHUA MEDIA CO., LTD.	+1.44%	1.93B
CENTRAL CHINA LAND MEDIA CO.,LTD	+4.83%	1.44B
HEILONGJIANG PUBLISHING & MEDIA CO., LTD.	-25.89%	1.06B
SCHOLASTIC CORPORATION	-3.40%	1.03B

Book Publishing