Company Valuation: Sunny Optical Technology (Group) Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 156,315 219,857 89,746 70,171 70,821 59,688 59,688 -
Change - 40.65% -59.18% -21.81% 0.93% -15.72% 0% -
Enterprise Value (EV) 1 159,196 219,367 88,175 61,556 69,477 60,723 40,382 37,069
Change - 37.8% -59.8% -30.19% 12.87% -12.6% -3.68% -8.2%
P/E ratio 32.1x 44.1x 37.3x 63.9x 26.1x 13.9x 15.2x 13x
PBR 9.44x 10.7x 4.13x 3.15x 2.86x 2.21x 1.88x 1.67x
PEG - 18.19x -0.7x -1.2x 0x 0.2x 4.17x 0.8x
Capitalization / Revenue 4.11x 5.86x 2.7x 2.21x 1.85x 1.48x 1.3x 1.17x
EV / Revenue 4.19x 5.85x 2.66x 1.94x 1.81x 1.4x 0.88x 0.73x
EV / EBITDA 23.4x 32.2x 19.8x 23.1x 15.3x 10.3x 6.05x 4.9x
EV / EBIT 30.8x 43.3x 35x 103x 30.1x 17.4x 9.87x 7.6x
EV / FCF 35.9x 50x 20.7x 348x 58.1x 19.3x 10.9x 7.67x
FCF Yield 2.78% 2% 4.84% 0.29% 1.72% 5.19% 9.15% 13%
Dividend per Share 2 0.888 0.91 0.439 0.2 0.493 1.059 0.8778 0.7902
Rate of return 0.62% 0.45% 0.53% 0.31% 0.76% 1.8% 1.57% 1.42%
EPS 2 4.451 4.559 2.202 1.006 2.479 4.248 3.682 4.28
Distribution rate 19.9% 20% 19.9% 19.9% 19.9% 24.9% 23.8% 18.5%
Net sales 1 38,002 37,497 33,197 31,681 38,294 43,229 45,951 50,962
EBITDA 1 6,795 6,822 4,461 2,666 4,536 5,876 6,671 7,564
EBIT 1 5,167 5,062 2,520 599 2,310 3,494 4,092 4,876
Net income 1 4,872 4,988 2,408 1,099 2,699 4,639 4,035 4,669
Net Debt 1 2,881 -490.3 -1,571 -8,615 -1,344 -3,210 -19,305 -22,618
Reference price 2 142.89 200.90 82.13 64.31 64.70 55.81 55.81 55.81
Nbr of stocks (in thousands) 1,093,925 1,094,368 1,092,706 1,091,116 1,094,644 1,069,520 1,069,520 -
Announcement Date 3/17/21 3/22/22 3/20/23 3/20/24 3/24/25 3/30/26 - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.71x0.98x6.91x1.07% 8.76B
23.53x2.78x15.35x2.27% 226B
30.07x3.89x17.96x1.64% 185B
33.5x5.45x22.65x1.08% 158B
50.01x6.4x28.79x0.9% 152B
112.98x14.84x79.51x0.27% 118B
56.13x8.53x35.84x0.08% 118B
29.85x4.89x17.11x1.51% 82.25B
32.86x6.86x21.4x0.56% 54.12B
36.2x5.57x24.29x1.31% 46.71B
Average 42.09x 6.02x 26.98x 1.07% 114.77B
Weighted average by Cap. 43.35x 6.08x 27.96x 1.21%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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