SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD. Financials Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Equities
300760
CNE100003G67
Advanced Medical Equipment & Technology
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 288.8 CNY | +1.30% |
|
+6.42% | -0.62% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 221,134 | 517,884 | 461,774 | 382,132 | 351,450 | 349,273 | - | - |
| Enterprise Value (EV) 1 | 206,861 | 502,020 | 446,498 | 359,043 | 332,776 | 317,142 | 308,179 | 287,654 |
| P/E ratio | 47.2 x | 77.8 x | 57.8 x | 39.8 x | 30.4 x | 25 x | 20.8 x | - |
| Yield | 0.82% | 0.59% | 0.92% | 1.42% | 0.52% | 2.3% | 2.7% | - |
| Capitalization / Revenue | 13.4 x | 24.6 x | 18.3 x | 12.6 x | 10.1 x | 8.67 x | 6.86 x | 5.99 x |
| EV / Revenue | 12.5 x | 23.9 x | 17.7 x | 11.8 x | 9.53 x | 7.87 x | 6.05 x | 4.93 x |
| EV / EBITDA | 35.8 x | 63.3 x | 45.7 x | 30.4 x | 23.8 x | 19.8 x | 16.2 x | 12.8 x |
| EV / FCF | 52.4 x | 65.3 x | 58.6 x | 34.9 x | 39.6 x | 26 x | 21.4 x | 17 x |
| FCF Yield | 1.91% | 1.53% | 1.71% | 2.87% | 2.52% | 3.84% | 4.66% | 5.88% |
| Price to Book | 11.9 x | 22.2 x | 17.2 x | 12 x | 10.6 x | 7.24 x | 5.79 x | - |
| Nbr of stocks (in thousands) | 1,215,691 | 1,215,691 | 1,212,643 | 1,209,393 | 1,209,393 | 1,209,393 | - | - |
| Reference price 2 | 181.9 | 426.0 | 380.8 | 316.0 | 290.6 | 288.8 | 288.8 | 288.8 |
| Announcement Date | 2/27/20 | 4/28/21 | 4/19/22 | 4/27/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 16,556 | 21,026 | 25,270 | 30,366 | 34,932 | 40,291 | 50,930 | 58,290 |
| EBITDA 1 | 5,784 | 7,930 | 9,766 | 11,796 | 13,995 | 16,021 | 19,044 | 22,479 |
| EBIT 1 | 5,379 | 7,455 | 9,066 | 10,991 | 13,070 | 15,495 | 18,535 | 21,495 |
| Operating Margin | 32.49% | 35.46% | 35.88% | 36.19% | 37.42% | 38.46% | 36.39% | 36.88% |
| Earnings before Tax (EBT) 1 | 5,368 | 7,438 | 9,017 | 10,954 | 13,011 | 15,922 | 19,077 | 22,524 |
| Net income 1 | 4,681 | 6,658 | 8,002 | 9,607 | 11,582 | 13,988 | 16,789 | 19,646 |
| Net margin | 28.27% | 31.66% | 31.66% | 31.64% | 33.16% | 34.72% | 32.97% | 33.7% |
| EPS 2 | 3.850 | 5.476 | 6.587 | 7.937 | 9.558 | 11.54 | 13.87 | - |
| Free Cash Flow 1 | 3,949 | 7,690 | 7,618 | 10,299 | 8,395 | 12,189 | 14,367 | 16,918 |
| FCF margin | 23.85% | 36.58% | 30.15% | 33.92% | 24.03% | 30.25% | 28.21% | 29.02% |
| FCF Conversion (EBITDA) | 68.27% | 96.97% | 78% | 87.31% | 59.99% | 76.08% | 75.44% | 75.26% |
| FCF Conversion (Net income) | 84.37% | 115.51% | 95.21% | 107.2% | 72.48% | 87.14% | 85.57% | 86.12% |
| Dividend per Share 2 | 1.500 | 2.500 | 3.500 | 4.500 | 1.500 | 6.649 | 7.810 | - |
| Announcement Date | 2/27/20 | 4/28/21 | 4/19/22 | 4/27/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,878 | 6,943 | 8,412 | 15,356 | 7,940 | 7,070 | 15,010 | 8,364 | 10,111 | 18,476 | 8,828 | 7,628 | 16,456 | 9,373 | 11,739 | 11,016 | 10,027 | - | - |
| EBITDA | 1,330 | 2,560 | 3,502 | - | 3,213 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 1,471 | 2,402 | 3,604 | 6,005 | 3,214 | 1,771 | - | 2,900 | 4,430 | - | 3,871 | 1,869 | - | 3,572 | 4,167 | 4,513 | - | - | - |
| Operating Margin | 25.02% | 34.59% | 42.84% | 39.11% | 40.48% | 25.06% | - | 34.67% | 43.81% | - | 43.85% | 24.5% | - | 38.11% | 35.5% | 40.97% | - | - | - |
| Earnings before Tax (EBT) | 1,434 | 2,406 | 3,603 | 6,008 | 3,220 | 1,725 | 4,945 | - | 4,422 | 7,310 | 3,877 | 1,824 | 5,701 | - | - | - | - | - | - |
| Net income | 1,339 | 2,105 | 3,183 | 5,288 | 2,815 | 1,505 | 4,320 | - | 3,871 | 6,442 | 3,392 | 1,748 | 5,140 | - | - | - | - | - | - |
| Net margin | 22.77% | 30.32% | 37.83% | 34.43% | 35.45% | 21.29% | 28.78% | - | 38.28% | 34.87% | 38.43% | 22.91% | 31.24% | - | - | - | - | - | - |
| EPS 2 | 1.105 | 1.738 | 2.631 | - | 2.330 | 1.240 | - | 2.125 | 3.191 | - | 2.803 | 1.440 | - | 2.609 | 3.485 | 3.450 | 1.810 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.5630 | - | - |
| Announcement Date | 4/19/22 | 4/19/22 | 8/19/22 | 8/19/22 | 10/27/22 | 4/27/23 | 4/27/23 | 4/27/23 | 8/29/23 | 8/29/23 | 10/27/23 | 4/26/24 | 4/26/24 | 4/26/24 | - | - | - | - | - |
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 | 14,273 | 15,865 | 15,276 | 23,088 | 18,673 | 32,131 | 41,094 | 61,619 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 3,949 | 7,690 | 7,618 | 10,299 | 8,395 | 12,189 | 14,367 | 16,918 |
| ROE (net income / shareholders' equity) | 27.9% | 32.3% | 31.9% | 33.4% | 33.6% | 31.4% | 30.8% | 25.9% |
| ROA (Net income/ Total Assets) | 19.8% | 22.6% | 22.4% | 22.6% | - | 23.6% | 24.1% | - |
| Assets 1 | 23,625 | 29,470 | 35,705 | 42,424 | - | 59,303 | 69,661 | - |
| Book Value Per Share 2 | 15.30 | 19.10 | 22.20 | 26.40 | 27.30 | 39.90 | 49.90 | - |
| Cash Flow per Share 2 | 3.880 | 7.300 | 7.400 | 10.00 | 9.120 | 11.90 | 13.60 | - |
| Capex 1 | 773 | 1,180 | 1,381 | 1,842 | 2,667 | 1,678 | 1,751 | 2,736 |
| Capex / Sales | 4.67% | 5.61% | 5.46% | 6.07% | 7.63% | 4.16% | 3.44% | 4.69% |
| Announcement Date | 2/27/20 | 4/28/21 | 4/19/22 | 4/27/23 | 4/26/24 | - | - | - |
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
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
27
Last Close Price
288.8
CNY
Average target price
396.6
CNY
Spread / Average Target
+37.32%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.62% | 48.2B | |
| +8.07% | 219B | |
| +6.59% | 183B | |
| +11.26% | 133B | |
| +26.57% | 108B | |
| +13.35% | 52.02B | |
| -0.93% | 40.37B | |
| +11.54% | 39.35B | |
| +26.76% | 32.03B | |
| -12.18% | 19.47B |
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- Financials Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
