Financials Shanghai International Port (Group) Co., Ltd.

Equities

600018

CNE0000013N8

Marine Port Services

End-of-day quote Shanghai S.E. 06:00:00 2024-06-20 pm EDT 5-day change 1st Jan Change
5.69 CNY +0.35% Intraday chart for Shanghai International Port (Group) Co., Ltd. +1.79% +16.12%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 133,712 105,904 127,568 124,337 114,092 132,487 - -
Enterprise Value (EV) 1 150,160 121,790 137,537 139,256 126,891 142,990 140,729 137,382
P/E ratio 14.8 x 12.8 x 8.65 x 7.19 x 8.61 x 9.54 x 9.89 x 9.52 x
Yield 2.51% 2.8% 3.47% 2.62% 3.51% 2.74% 3.08% 3.19%
Capitalization / Revenue 3.7 x 4.02 x 3.72 x 3.34 x 3.04 x 3.59 x 3.37 x 3.29 x
EV / Revenue 4.16 x 4.62 x 4.01 x 3.74 x 3.38 x 3.87 x 3.58 x 3.41 x
EV / EBITDA 9.81 x 8.63 x 6.48 x 5.81 x 6.43 x 10.6 x 10.3 x 9.55 x
EV / FCF 39,995,602 x - - - - - - -
FCF Yield 0% - - - - - - -
Price to Book 1.63 x 1.21 x 1.27 x 1.11 x 0.93 x 0.98 x 0.91 x 0.84 x
Nbr of stocks (in thousands) 23,173,675 23,173,675 23,278,798 23,284,145 23,284,145 23,284,145 - -
Reference price 2 5.770 4.570 5.480 5.340 4.900 5.690 5.690 5.690
Announcement Date 1/9/20 1/15/21 1/13/22 1/10/23 1/20/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 36,102 26,350 34,289 37,280 37,552 36,947 39,346 40,265
EBITDA 1 15,312 14,118 21,238 23,951 19,734 13,435 13,640 14,388
EBIT 1 11,869 10,620 17,861 20,588 16,209 9,405 12,458 13,077
Operating Margin 32.88% 40.3% 52.09% 55.23% 43.16% 25.45% 31.66% 32.48%
Earnings before Tax (EBT) 1 11,824 10,620 17,961 20,124 16,247 16,678 16,684 17,469
Net income 1 9,062 8,290 14,682 17,224 13,203 13,892 13,359 13,855
Net margin 25.1% 31.46% 42.82% 46.2% 35.16% 37.6% 33.95% 34.41%
EPS 2 0.3911 0.3578 0.6336 0.7423 0.5688 0.5967 0.5755 0.5979
Free Cash Flow 3,754 - - - - - - -
FCF margin 10.4% - - - - - - -
FCF Conversion (EBITDA) 24.52% - - - - - - -
FCF Conversion (Net income) 41.43% - - - - - - -
Dividend per Share 2 0.1450 0.1280 0.1900 0.1400 0.1720 0.1558 0.1754 0.1814
Announcement Date 1/9/20 1/15/21 1/13/22 1/10/23 1/20/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 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 2025 Q1 2025 Q2
Net sales 1 - 8,051 12,413 7,682 9,141 8,044 7,649 8,463 11,322 10,118 8,951 9,736 9,736 10,207 9,846 10,256
EBITDA 1 - - 5,539 2,439 3,571 - - - - - - 3,452 3,452 3,402 3,461 3,605
EBIT 1 - 3,346 6,855 5,931 5,614 2,189 4,264 4,531 4,953 2,461 4,725 2,266 2,266 2,196 2,517 2,622
Operating Margin - 41.56% 55.23% 77.21% 61.41% 27.21% 55.75% 53.54% 43.74% 24.32% 52.79% 23.27% 23.27% 21.51% 25.56% 25.56%
Earnings before Tax (EBT) - - - - - - - - - - - - - - - -
Net income 1 8,718 2,940 5,494 5,319 4,735 1,675 3,551 3,777 4,031 1,844 3,696 3,518 3,518 3,340 3,516 3,662
Net margin - 36.52% 44.26% 69.25% 51.8% 20.82% 46.42% 44.63% 35.61% 18.23% 41.3% 36.14% 36.14% 32.72% 35.71% 35.71%
EPS 2 - 0.1184 0.2371 0.2300 0.2000 0.0700 0.1532 0.1700 0.1700 0.0800 0.1592 0.1509 0.1509 0.1471 0.1517 0.1580
Dividend per Share 2 - 0.1900 - - - 0.1400 - - - 0.1720 - - - 0.1833 - -
Announcement Date 8/27/21 1/13/22 4/29/22 8/29/22 10/28/22 1/10/23 4/28/23 8/29/23 10/30/23 1/20/24 4/29/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 16,448 15,887 9,969 14,919 12,799 10,503 8,242 4,895
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.074 x 1.125 x 0.4694 x 0.6229 x 0.6485 x 0.7817 x 0.6043 x 0.3402 x
Free Cash Flow 3,754 - - - - - - -
ROE (net income / shareholders' equity) 11.5% 8.82% 15.5% 16.3% 11.2% 10.2% 9.47% 9.08%
ROA (Net income/ Total Assets) 6.33% - 8.89% - - - - -
Assets 1 143,277 - 165,134 - - - - -
Book Value Per Share 2 3.540 3.790 4.310 4.820 5.290 5.790 6.250 6.750
Cash Flow per Share 2 0.2700 0.4800 0.5800 0.5900 0.5800 0.3400 0.8300 0.3300
Capex 1 2,419 4,066 4,094 5,746 7,776 8,300 6,285 5,467
Capex / Sales 6.7% 15.43% 11.94% 15.41% 20.71% 22.46% 15.97% 13.58%
Announcement Date 1/9/20 1/15/21 1/13/22 1/10/23 1/20/24 - - -
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

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
5
Last Close Price
5.69 CNY
Average target price
5.275 CNY
Spread / Average Target
-7.29%
Consensus
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  4. Financials Shanghai International Port (Group) Co., Ltd.