SUNGROW POWER SUPPLY CO., LTD. Financials Sungrow Power Supply Co., Ltd.
Equities
300274
CNE1000018M7
Renewable Energy Equipment & Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 99.27 CNY | +2.46% |
|
+4.32% | +13.33% |
| Apr. 26 | Sungrow Unveils its Innovative Solar-Plus-Storage Solutions to Facilitate South Korea's Energy Transition | CI |
| Apr. 23 | Sungrow's 2023 Profit Nearly Triples; Shares Jump 4% | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 15,343 | 105,329 | 216,544 | 165,319 | 129,516 | 145,792 | - | - |
| Enterprise Value (EV) 1 | 12,998 | 100,089 | 212,376 | 160,046 | 119,801 | 128,524 | 123,644 | 110,729 |
| P/E ratio | 17.3 x | 53.9 x | 135 x | 46.2 x | 13.8 x | 13.9 x | 12 x | 10.2 x |
| Yield | 0.66% | 0.19% | 0.08% | 0.2% | 1.1% | 1.14% | 1.12% | 1.45% |
| Capitalization / Revenue | 1.18 x | 5.46 x | 8.97 x | 4.11 x | 1.79 x | 1.65 x | 1.34 x | 1.13 x |
| EV / Revenue | 1 x | 5.19 x | 8.8 x | 3.98 x | 1.66 x | 1.45 x | 1.14 x | 0.85 x |
| EV / EBITDA | 10.2 x | 41.5 x | 96.5 x | 35.4 x | 9.95 x | 9.22 x | 7.88 x | 5.85 x |
| EV / FCF | - | 46.9 x | -64.5 x | -521 x | - | 17.6 x | 17.9 x | 14.1 x |
| FCF Yield | - | 2.13% | -1.55% | -0.19% | - | 5.69% | 5.59% | 7.11% |
| Price to Book | 1.79 x | 10.1 x | 13.8 x | 8.9 x | 4.7 x | 3.88 x | 3.06 x | 2.37 x |
| Nbr of stocks (in thousands) | 1,457,087 | 1,457,237 | 1,485,216 | 1,478,706 | 1,478,666 | 1,468,642 | - | - |
| Reference price 2 | 10.53 | 72.28 | 145.8 | 111.8 | 87.59 | 99.27 | 99.27 | 99.27 |
| Announcement Date | 2/28/20 | 4/26/21 | 4/19/22 | 4/24/23 | 4/22/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,003 | 19,286 | 24,137 | 40,257 | 72,251 | 88,335 | 108,451 | 129,544 |
| EBITDA 1 | 1,274 | 2,411 | 2,201 | 4,525 | 12,039 | 13,946 | 15,687 | 18,927 |
| EBIT 1 | 1,048 | 2,168 | 1,898 | 4,141 | 11,466 | 13,182 | 14,913 | 17,848 |
| Operating Margin | 8.06% | 11.24% | 7.86% | 10.29% | 15.87% | 14.92% | 13.75% | 13.78% |
| Earnings before Tax (EBT) 1 | 1,032 | 2,182 | 1,893 | 4,134 | 11,460 | 13,126 | 14,725 | 17,525 |
| Net income 1 | 892.6 | 1,954 | 1,583 | 3,593 | 9,440 | 11,112 | 12,639 | 14,772 |
| Net margin | 6.86% | 10.13% | 6.56% | 8.93% | 13.07% | 12.58% | 11.65% | 11.4% |
| EPS 2 | 0.6100 | 1.340 | 1.080 | 2.420 | 6.360 | 7.118 | 8.275 | 9.723 |
| Free Cash Flow 1 | - | 2,136 | -3,292 | -306.9 | - | 7,313 | 6,916 | 7,868 |
| FCF margin | - | 11.07% | -13.64% | -0.76% | - | 8.28% | 6.38% | 6.07% |
| FCF Conversion (EBITDA) | - | 88.57% | - | - | - | 52.44% | 44.09% | 41.57% |
| FCF Conversion (Net income) | - | 109.28% | - | - | - | 65.81% | 54.72% | 53.26% |
| Dividend per Share 2 | 0.0700 | 0.1400 | 0.1100 | 0.2200 | 0.9650 | 1.127 | 1.108 | 1.441 |
| Announcement Date | 2/28/20 | 4/26/21 | 4/19/22 | 4/24/23 | 4/22/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | 8,763 | - | 7,714 | - | 9,943 | 18,033 | 12,580 | 16,042 | 17,792 | 25,836 | - | 21,889 | 22,940 | 30,115 | - | - |
| EBITDA 1 | - | - | - | - | 412.4 | - | 1,273 | - | - | - | - | - | - | 3,562 | 3,872 | 4,160 | - | - |
| EBIT 1 | - | - | 62.27 | - | 604.1 | - | 1,352 | 1,706 | 1,775 | 3,244 | 3,306 | 3,142 | - | 3,369 | 3,679 | 3,967 | - | - |
| Operating Margin | - | - | 0.71% | - | 7.83% | - | 13.59% | 9.46% | 14.11% | 20.22% | 18.58% | 12.16% | - | 15.39% | 16.04% | 13.17% | - | - |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | - | 1,350 | 1,685 | - | 3,226 | 3,319 | 3,129 | - | 3,386 | 3,697 | 3,967 | - | - |
| Net income 1 | 446.1 | 757 | 77.93 | 410.9 | - | 900.4 | 1,160 | 1,533 | 1,508 | 2,846 | 2,869 | 2,217 | 2,096 | 2,789 | 3,076 | 3,196 | - | - |
| Net margin | - | - | 0.89% | - | - | - | 11.67% | 8.5% | 11.98% | 17.74% | 16.12% | 8.58% | - | 12.74% | 13.41% | 10.61% | - | - |
| EPS 2 | - | - | 0.0500 | - | 0.3300 | - | 0.7800 | 1.030 | 1.020 | 1.910 | 1.930 | 1.500 | - | 1.879 | 2.072 | 2.152 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.128 | - | - |
| Announcement Date | 8/27/20 | 8/27/21 | 4/19/22 | 4/19/22 | 8/26/22 | 8/26/22 | 10/26/22 | 4/24/23 | 4/24/23 | 8/24/23 | 10/27/23 | 4/22/24 | 4/22/24 | - | - | - | - | - |
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 | 2,345 | 5,240 | 4,169 | 5,273 | 9,716 | 17,268 | 22,148 | 35,063 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | 2,136 | -3,292 | -307 | - | 7,313 | 6,916 | 7,868 |
| ROE (net income / shareholders' equity) | 10.9% | 20.4% | 13.1% | 21% | 41% | 31.7% | 27.8% | 25% |
| ROA (Net income/ Total Assets) | 4.32% | 7.69% | 4.47% | 6.88% | - | 11.2% | 10.6% | 9.95% |
| Assets 1 | 20,656 | 25,410 | 35,423 | 52,233 | - | 99,219 | 119,793 | 148,532 |
| Book Value Per Share 2 | 5.900 | 7.180 | 10.50 | 12.60 | 18.70 | 25.60 | 32.50 | 42.00 |
| Cash Flow per Share 2 | 1.700 | 2.120 | -1.100 | 0.8200 | 4.700 | 7.970 | 6.900 | 9.290 |
| Capex 1 | 682 | 953 | 1,653 | 1,517 | - | 2,493 | 2,573 | 3,029 |
| Capex / Sales | 5.24% | 4.94% | 6.85% | 3.77% | - | 2.82% | 2.37% | 2.34% |
| Announcement Date | 2/28/20 | 4/26/21 | 4/19/22 | 4/24/23 | 4/22/24 | - | - | - |
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
24
Last Close Price
99.27
CNY
Average target price
131.2
CNY
Spread / Average Target
+32.14%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +13.33% | 20.12B | |
| +57.08% | 15.74B | |
| -27.87% | 6.15B | |
| -26.32% | 2.78B | |
| -30.79% | 2.16B | |
| -26.19% | 1.88B | |
| -23.12% | 1.18B | |
| +2.81% | 1.06B | |
| +98.65% | 974M | |
| +29.58% | 914M |
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