SHANXI XINGHUACUN FEN WINE FACTORY CO.,LTD. Financials Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.
Equities
600809
CNE000000DH5
Distillers & Wineries
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 262.3 CNY | +1.65% |
|
+7.64% | +13.69% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 78,176 | 327,076 | 385,288 | 347,709 | 281,482 | 320,009 | - | - |
| Enterprise Value (EV) 1 | 74,212 | 322,469 | 379,155 | 336,516 | 278,053 | 301,585 | 299,706 | 293,558 |
| P/E ratio | 40.2 x | 106 x | 72.3 x | 42.9 x | 26.9 x | 24.7 x | 20.3 x | 17.2 x |
| Yield | 1% | 0.05% | 0.57% | 1.16% | 1.89% | 1.95% | 2.37% | 2.95% |
| Capitalization / Revenue | 6.58 x | 23.4 x | 19.3 x | 13.3 x | 8.82 x | 8.31 x | 6.98 x | 6.05 x |
| EV / Revenue | 6.25 x | 23.1 x | 19 x | 12.8 x | 8.71 x | 7.83 x | 6.54 x | 5.55 x |
| EV / EBITDA | 24.9 x | 73.5 x | 52.7 x | 30.4 x | 19.2 x | 17.2 x | 14.1 x | 11.7 x |
| EV / FCF | 25.3 x | 178 x | 50.6 x | 35.5 x | 41.2 x | 19.4 x | 21.8 x | 17.6 x |
| FCF Yield | 3.96% | 0.56% | 1.98% | 2.82% | 2.43% | 5.15% | 4.59% | 5.68% |
| Price to Book | 10.5 x | 33.5 x | 25.3 x | 16.3 x | 10.1 x | 8.84 x | 6.89 x | 5.61 x |
| Nbr of stocks (in thousands) | 1,220,140 | 1,220,140 | 1,220,114 | 1,220,073 | 1,219,964 | 1,219,964 | - | - |
| Reference price 2 | 64.07 | 268.1 | 315.8 | 285.0 | 230.7 | 262.3 | 262.3 | 262.3 |
| Announcement Date | 2/6/20 | 3/9/21 | 4/27/22 | 4/27/23 | 4/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,880 | 13,990 | 19,971 | 26,214 | 31,928 | 38,496 | 45,819 | 52,895 |
| EBITDA 1 | 2,986 | 4,387 | 7,200 | 11,074 | 14,477 | 17,510 | 21,217 | 25,049 |
| EBIT 1 | 2,843 | 4,235 | 7,029 | 10,873 | 14,224 | 17,270 | 20,960 | 24,755 |
| Operating Margin | 23.93% | 30.27% | 35.2% | 41.48% | 44.55% | 44.86% | 45.74% | 46.8% |
| Earnings before Tax (EBT) 1 | 2,845 | 4,237 | 7,091 | 10,876 | 14,205 | 17,394 | 21,108 | 25,004 |
| Net income 1 | 1,939 | 3,079 | 5,314 | 8,096 | 10,438 | 12,932 | 15,717 | 18,516 |
| Net margin | 16.32% | 22.01% | 26.61% | 30.88% | 32.69% | 33.59% | 34.3% | 35.01% |
| EPS 2 | 1.596 | 2.526 | 4.365 | 6.642 | 8.563 | 10.61 | 12.89 | 15.21 |
| Free Cash Flow 1 | 2,936 | 1,814 | 7,489 | 9,485 | 6,743 | 15,518 | 13,771 | 16,668 |
| FCF margin | 24.72% | 12.97% | 37.5% | 36.18% | 21.12% | 40.31% | 30.05% | 31.51% |
| FCF Conversion (EBITDA) | 98.35% | 41.36% | 104.01% | 85.65% | 46.58% | 88.62% | 64.9% | 66.54% |
| FCF Conversion (Net income) | 151.47% | 58.92% | 140.94% | 117.15% | 64.6% | 119.99% | 87.62% | 90.02% |
| Dividend per Share 2 | 0.6429 | 0.1429 | 1.800 | 3.320 | 4.370 | 5.105 | 6.210 | 7.737 |
| Announcement Date | 2/6/20 | 3/9/21 | 4/27/22 | 4/27/23 | 4/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,714 | 10,530 | 4,803 | - | 6,810 | 4,070 | 12,682 | 6,329 | 7,733 | 5,184 | 12,917 | 15,338 | 7,531 | 9,512 | - |
| EBITDA | - | - | 1,736 | - | 2,767 | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 384.6 | 4,985 | 1,779 | - | 2,804 | 1,305 | 6,450 | 2,695 | 3,593 | 1,486 | 5,078 | 8,365 | 3,171 | 4,337 | 1,634 |
| Operating Margin | 14.17% | 47.34% | 37.03% | - | 41.17% | 32.07% | 50.86% | 42.59% | 46.46% | 28.66% | 39.31% | 54.54% | 42.1% | 45.6% | - |
| Earnings before Tax (EBT) | 441.5 | - | 1,780 | - | 2,803 | 1,306 | - | 2,697 | - | 1,471 | - | - | - | - | - |
| Net income 1 | 434.8 | - | 1,303 | 5,013 | 2,096 | 987.6 | - | 1,948 | - | 1,007 | - | - | 2,816 | 2,850 | 1,105 |
| Net margin | 16.02% | - | 27.12% | - | 30.77% | 24.27% | - | 30.78% | - | 19.42% | - | - | 37.39% | 29.97% | - |
| EPS 2 | 0.3600 | 3.040 | 1.075 | 4.115 | 1.710 | 0.8100 | 3.950 | 1.610 | 2.170 | 0.8300 | - | 5.130 | 2.124 | 2.493 | 1.028 |
| Dividend per Share 2 | 1.800 | - | - | - | - | - | - | - | - | - | - | - | 2.441 | 2.441 | 2.441 |
| Announcement Date | 4/27/22 | 4/27/22 | 8/24/22 | 8/24/22 | 10/27/22 | 4/27/23 | 4/27/23 | 8/24/23 | 10/26/23 | 4/25/24 | 4/25/24 | 4/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 3,964 | 4,607 | 6,133 | 11,193 | 3,430 | 18,424 | 20,303 | 26,450 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,936 | 1,814 | 7,489 | 9,485 | 6,743 | 15,518 | 13,771 | 16,669 |
| ROE (net income / shareholders' equity) | 27.4% | 35.1% | 42% | 44.7% | 43.1% | 38.8% | 36.2% | 34.4% |
| ROA (Net income/ Total Assets) | 13.6% | 16.9% | 21.4% | 24.3% | - | 25.6% | 24.7% | 25.6% |
| Assets 1 | 14,227 | 18,249 | 24,867 | 33,321 | - | 50,495 | 63,735 | 72,395 |
| Book Value Per Share 2 | 6.100 | 8.010 | 12.50 | 17.50 | 22.80 | 29.70 | 38.00 | 46.80 |
| Cash Flow per Share 2 | 2.520 | 1.650 | 6.270 | 8.450 | 5.920 | 11.00 | 12.80 | 15.00 |
| Capex 1 | 140 | 195 | 156 | 826 | 482 | 743 | 1,065 | 1,579 |
| Capex / Sales | 1.18% | 1.4% | 0.78% | 3.15% | 1.51% | 1.93% | 2.32% | 2.98% |
| Announcement Date | 2/6/20 | 3/9/21 | 4/27/22 | 4/27/23 | 4/25/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
D+
Sell
Buy
Mean consensus
BUY
Number of Analysts
27
Last Close Price
262.3
CNY
Average target price
294.9
CNY
Spread / Average Target
+12.44%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +13.69% | 44.21B | |
| -1.22% | 296B | |
| +7.21% | 80.67B | |
| +3.72% | 37.85B | |
| -13.49% | 19.79B | |
| +16.51% | 17.28B | |
| -7.78% | 12.1B | |
| +17.78% | 9.89B | |
| +5.30% | 10.01B | |
| +7.11% | 7.85B |
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- Financials Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.
