Valuation TCL Zhonghuan Renewable Energy Technology Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 2025-01-24			5-day change	1st Jan Change
8.520 ^CNY	+1.55%		-4.16%	-3.95%

Dec. 30	TCL to Raise Stake in Solar Products Making Unit for 1 Billion Yuan	MT
Dec. 27	TCL Zhonghuan Renewable Energy Technology Co.,Ltd. agreed to acquire an additional 13.69% stake in Inner Mongolia Zhonghuan Crystal Materials Co., Ltd. from BOCOM Financial Asset Investment Co., Ltd for CNY 1 billion.	CI

Data adjusted to current consolidation scope

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	32,893	77,340	134,543	121,005	62,718	34,405	34,405	-
Change	-	135.13%	73.96%	-10.06%	-48.17%	-45.14%	0%	-
Enterprise Value (EV) ¹	43,550	88,660	144,405	145,736	92,891	69,803	69,633	69,394
Change	-	103.58%	62.88%	0.92%	-36.26%	-24.86%	-0.24%	-0.34%
P/E ratio	36.4x	67.6x	31.7x	17.8x	18.4x	-4.57x	17.1x	11.8x
PBR	2.33x	4.03x	4.26x	3.24x	1.52x	1.02x	0.93x	0.88x
PEG	-	4.2x	0x	0.3x	-0.4x	0x	-0x	0.3x
Capitalization / Revenue	1.95x	4.06x	3.28x	1.81x	1.06x	1.03x	0.69x	0.58x
EV / Revenue	2.58x	4.65x	3.52x	2.17x	1.57x	2.09x	1.4x	1.16x
EV / EBITDA	12.7x	23.4x	18.4x	12.4x	8.43x	70.2x	7.86x	5.84x
EV / EBIT	29.8x	54.4x	28.9x	19.9x	20.3x	-9.09x	37.3x	17.6x
EV / FCF	-20.6x	-118x	-79.3x	-23.7x	-13.3x	-8.49x	27.5x	89.4x
FCF Yield	-4.86%	-0.84%	-1.26%	-4.22%	-7.52%	-11.8%	3.63%	1.12%
Dividend per Share ²	0.024	0.048	0.088	0.08	0.26	-	0.0637	0.0904
Rate of return	0.25%	0.24%	0.26%	0.27%	1.66%	-	0.75%	1.06%
EPS ²	0.2594	0.3016	1.053	1.697	0.8518	-1.866	0.4991	0.7218
Distribution rate	9.25%	15.9%	8.36%	4.71%	30.5%	-	12.8%	12.5%
Net sales ¹	16,908	19,057	41,025	67,010	59,146	33,340	49,575	59,719
EBITDA ¹	3,416	3,783	7,848	11,712	11,023	993.7	8,855	11,879
EBIT ¹	1,463	1,631	5,004	7,325	4,565	-7,675	1,868	3,935
Net income ¹	902.8	1,089	4,020	6,819	3,416	-7,537	2,012	2,915
Net Debt ¹	10,658	11,320	9,862	24,731	30,173	35,398	35,229	34,990
Reference price ²	9.448	20.400	33.400	30.128	15.640	8.520	8.520	8.520
Nbr of stocks (in thousands)	3,481,446	3,791,158	4,028,245	4,016,351	4,010,093	4,038,104	4,038,104	-
Announcement Date	2/28/20	3/10/21	3/10/22	3/28/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E ratio	EV / Sales	EV / EBITDA	Yield	Capi. ($)
TCL ZHONGHUAN RENEWABLE ENERGY TECHNOLOGY CO.,LTD.	-4.57x	2.09x	70.25x	-.--%	4.75B
FIRST SOLAR, INC.	12.74x	4.11x	9.02x	-.--%	18.01B
LONGI GREEN ENERGY TECHNOLOGY CO., LTD.	-14.5x	1.07x	-103.84x	-.--%	15.61B
TONGWEI CO.,LTD	-16.28x	1.34x	22.96x	-.--%	12.58B
ENPHASE ENERGY, INC.	95.21x	6.03x	21.32x	-.--%	8.56B
JINKO SOLAR CO., LTD.	46.69x	0.63x	6.48x	+0.58%	8.54B
XINJIANG DAQO NEW ENERGY CO.,LTD.	-15.94x	4.61x	29.08x	+0.14%	6.29B
NEXTRACKER INC.	14.65x	1.84x	8.28x	-.--%	5.89B
FLAT GLASS GROUP CO., LTD.	26.63x	2.88x	14.88x	+1.41%	5.87B
Average	16.07x	2.73x	8.72x	+0.24%	9.57B
Weighted average by Cap.	13.15x	2.69x	-3.24x	+0.16%