Financials Sinohealth Holdings Limited

Equities

2361

KYG8192Q1064

Business Support Services

Market Closed - Hong Kong S.E. Other stock markets 04:08:49 2024-05-06 am EDT			5-day change	1st Jan Change
5.36 ^HKD	-0.56%		0.00%	-3.42%

Apr. 24	Sinohealth Holdings Profit Nearly Doubles in 2023	MT
Mar. 28	Sinohealth Holdings Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 25 September 2024	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	2,194	2,175	2,051	-	-
Enterprise Value (EV) ¹	2,194	2,175	2,051	2,051	2,051
P/E ratio	35.8 x	21.1 x	23.5 x	19 x	16.5 x
Yield	-	-	-	-	-
Capitalization / Revenue	6.15 x	5.49 x	4.45 x	3.91 x	3.49 x
EV / Revenue	6.15 x	5.49 x	4.45 x	3.91 x	3.49 x
EV / EBITDA	74 x	20.9 x	19.9 x	15.7 x	13.3 x
EV / FCF	-	-	25 x	23.6 x	20.1 x
FCF Yield	-	-	4%	4.24%	4.97%
Price to Book	-	-	-	-	-
Nbr of stocks (in thousands)	451,770	431,185	414,956	-	-
Reference price ²	4.857	5.044	4.942	4.942	4.942
Announcement Date	3/29/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	356.7	396.2	461	525	588
EBITDA ¹	-	29.65	103.9	103	131	154
EBIT ¹	-	20.92	95.33	99	124	149
Operating Margin	-	5.87%	24.06%	21.48%	23.62%	25.34%
Earnings before Tax (EBT) ¹	-	-	110.7	119	145	171
Net income ¹	78.81	55.76	102	89	109	128
Net margin	-	15.63%	25.75%	19.31%	20.76%	21.77%
EPS ²	25.23	0.1358	0.2394	0.2100	0.2600	0.3000
Free Cash Flow ¹	-	-	-	82	87	102
FCF margin	-	-	-	17.79%	16.57%	17.35%
FCF Conversion (EBITDA)	-	-	-	79.61%	66.41%	66.23%
FCF Conversion (Net income)	-	-	-	92.13%	79.82%	79.69%
Dividend per Share	-	-	-	-	-	-
Announcement Date	6/27/22	3/29/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1	2023 S2
Net sales ¹	145	251.2
EBITDA ¹	22.28	81.61
EBIT ¹	17.72	77.61
Operating Margin	12.23%	30.89%
Earnings before Tax (EBT) ¹	47.89	62.85
Net income	47.83	-
Net margin	33%	-
EPS ²	0.1100	0.1294
Dividend per Share	-	-
Announcement Date	8/25/23	3/28/24

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	82	87	102
ROE (net income / shareholders' equity)	-	10%	-	11.9%	12.9%	13.3%
ROA (Net income/ Total Assets)	-	9.27%	-	10.5%	11.5%	12%
Assets ¹	-	601.3	-	847.6	947.8	1,067
Book Value Per Share	-	-	-	-	-	-
Cash Flow per Share ²	-	-	-	0.2100	0.2100	0.2500
Capex ¹	-	2.86	-	7	4	6
Capex / Sales	-	0.8%	-	1.52%	0.76%	1.02%
Announcement Date	6/27/22	3/29/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Sinohealth Holdings Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

4.942 CNY

Average target price

3.879 CNY

Spread / Average Target

-21.51%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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