Company Valuation: Shanghai Shyndec Pharmaceutical Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 9,181 9,766 10,650 9,346 13,130 16,014
Change - 6.38% 9.04% -12.25% 40.5% 21.96%
Enterprise Value (EV) 1 8,687 9,853 10,550 6,601 8,302 9,508
Change - 13.42% 7.07% -37.43% 25.77% 14.53%
P/E ratio 15.7x 17.3x 21.5x 16.8x 18x 14.8x
PBR 1.21x 1.2x 1.24x 1.06x 1.06x 1.21x
PEG - -4.96x -1.7x 1.3x 244.31x 0.3x
Capitalization / Revenue 0.75x 0.78x 0.76x 0.72x 1.09x 1.46x
EV / Revenue 0.71x 0.78x 0.76x 0.51x 0.69x 0.87x
EV / EBITDA 4.67x 5.42x 5.7x 3.96x 4.7x 4.16x
EV / EBIT 7.63x 9x 9.79x 7.85x 8.58x 6.19x
EV / FCF -26.2x -97.5x 17x 4.04x 4.62x 5.7x
FCF Yield -3.82% -1.03% 5.89% 24.7% 21.6% 17.5%
Dividend per Share 2 0.1 0.1 0.1 0.1 0.1 0.3
Rate of return 1.12% 1.05% 0.96% 1.1% 1.02% 2.51%
EPS 2 0.57 0.5501 0.4825 0.5429 0.5433 0.808
Distribution rate 17.5% 18.2% 20.7% 18.4% 18.4% 37.1%
Net sales 1 12,199 12,556 13,945 12,959 12,070 10,938
EBITDA 1 1,858 1,818 1,851 1,665 1,766 2,288
EBIT 1 1,138 1,095 1,078 841.2 967.3 1,536
Net income 1 656.4 648.8 568.3 627.8 691.9 1,084
Net Debt 1 -493.4 86.79 -99.84 -2,745 -4,828 -6,505
Reference price 2 8.94 9.51 10.37 9.10 9.79 11.94
Nbr of stocks (in thousands) 1,026,937 1,026,958 1,026,964 1,026,983 1,341,173 1,341,173
Announcement Date 4/1/20 3/25/21 3/25/22 3/29/23 3/29/24 3/27/25
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 2.06B
19.38x2.99x10.32x1.83% 65.31B
14.28x7.33x11.46x - 9.46B
24.81x2.38x10.38x2.3% 8.87B
48.87x11.62x36.61x-.--% 5.92B
67.06x3.59x41.47x0.46% 5.59B
19.74x3.69x10.58x-.--% 4.34B
-72.96x - - - 2.96B
33.8x5.76x18.98x0.79% 2.79B
Average 19.37x 5.33x 19.97x 0.9% 11.92B
Weighted average by Cap. 21.37x 3.97x 13.90x 1.56%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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