Financials Shenzhen New Industries Biomedical Engineering Co., Ltd.

Equities

300832

CNE100003T39

Medical Equipment, Supplies & Distribution

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
70.15 CNY +2.56% Intraday chart for Shenzhen New Industries Biomedical Engineering Co., Ltd. +8.46% -10.29%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 54,455 34,652 39,416 61,443 55,118 - -
Enterprise Value (EV) 1 54,455 34,652 38,934 60,397 52,840 51,665 52,987
P/E ratio 55.5 x 35.6 x 29.7 x 37.2 x 26.8 x 21.1 x 17.1 x
Yield - 1.36% 1.4% 1.28% 1.78% 2.23% 2.59%
Capitalization / Revenue 24.8 x 13.6 x 12.9 x 15.6 x 11.2 x 8.86 x 7.27 x
EV / Revenue 24.8 x 13.6 x 12.8 x 15.4 x 10.8 x 8.3 x 6.99 x
EV / EBITDA 45.8 x 27.8 x 26.3 x 31.3 x 21.2 x 16.6 x 14.1 x
EV / FCF - - 69.5 x 55.1 x 32.4 x 26.4 x 21.1 x
FCF Yield - - 1.44% 1.81% 3.08% 3.79% 4.73%
Price to Book 11.3 x 6.17 x 6.16 x 8.14 x 6.06 x 4.95 x 3.96 x
Nbr of stocks (in thousands) 783,465 786,659 786,126 785,719 785,719 - -
Reference price 2 69.51 44.05 50.14 78.20 70.15 70.15 70.15
Announcement Date 3/30/21 4/21/22 4/6/23 4/11/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,195 2,545 3,047 3,930 4,914 6,223 7,578
EBITDA 1 1,190 1,248 1,479 1,928 2,490 3,109 3,752
EBIT 1 1,099 1,137 1,504 1,895 2,335 2,981 3,670
Operating Margin 50.05% 44.69% 49.35% 48.23% 47.52% 47.91% 48.43%
Earnings before Tax (EBT) 1 1,097 1,136 1,501 1,893 2,361 3,004 3,688
Net income 1 939.1 973.7 1,328 1,654 2,059 2,616 3,216
Net margin 42.79% 38.25% 43.58% 42.08% 41.9% 42.04% 42.44%
EPS 2 1.252 1.239 1.689 2.104 2.621 3.329 4.093
Free Cash Flow 1 - - 559.8 1,096 1,630 1,957 2,508
FCF margin - - 18.37% 27.9% 33.17% 31.45% 33.1%
FCF Conversion (EBITDA) - - 37.85% 56.86% 65.46% 62.94% 66.84%
FCF Conversion (Net income) - - 42.16% 66.29% 79.16% 74.81% 77.99%
Dividend per Share 2 - 0.6000 0.7000 1.000 1.247 1.564 1.816
Announcement Date 3/30/21 4/21/22 4/6/23 4/11/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4
Net sales 1 - 989.3 1,865 - 1,022
EBITDA - - - - -
EBIT 1 - 459.8 865.5 501.4 528.5
Operating Margin - 46.48% 46.4% - 51.73%
Earnings before Tax (EBT) 1 - 458.8 864.3 501.3 527.5
Net income 355.1 394.9 750 - -
Net margin - 39.92% 40.21% - -
EPS 0.4517 0.5025 0.9542 - -
Dividend per Share - - - - -
Announcement Date 4/27/23 8/24/23 8/24/23 10/26/23 4/11/24
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - - 482 1,047 2,278 3,453 2,131
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - - 560 1,096 1,630 1,957 2,508
ROE (net income / shareholders' equity) 22.4% 18.9% 21.9% 23.7% 23.1% 24.2% 23.6%
ROA (Net income/ Total Assets) 21.4% 17% 18.9% - 21.3% 22.4% 21.1%
Assets 1 4,382 5,721 7,015 - 9,679 11,691 15,241
Book Value Per Share 2 6.130 7.130 8.140 9.600 11.60 14.20 17.70
Cash Flow per Share 2 1.250 0.9800 1.220 1.810 2.630 3.140 3.670
Capex 1 253 343 403 322 359 449 657
Capex / Sales 11.53% 13.46% 13.21% 8.2% 7.31% 7.21% 8.67%
Announcement Date 3/30/21 4/21/22 4/6/23 4/11/24 - - -
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
BUY
Number of Analysts
13
Last Close Price
70.15 CNY
Average target price
80.56 CNY
Spread / Average Target
+14.84%
Consensus
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