Financials Titan Wind Energy (Suzhou) Co.,Ltd

Equities

002531

CNE100000YH0

Renewable Energy Equipment & Services

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
9.4 CNY +1.40% Intraday chart for Titan Wind Energy (Suzhou) Co.,Ltd -1.36% -18.97%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 7,917 11,172 14,836 34,841 27,187 16,891 16,891 -
Enterprise Value (EV) 1 10,313 14,077 19,104 38,907 33,667 29,948 26,431 28,590
P/E ratio 15.9 x 15 x 14 x 26.6 x 43.2 x 26.4 x 9.46 x 7.09 x
Yield 1.35% 1.58% 1.78% 0.41% - 0.65% 1.72% 2.02%
Capitalization / Revenue 2.03 x 1.87 x 1.84 x 4.27 x 4.03 x 2.7 x 1.21 x 0.94 x
EV / Revenue 2.65 x 2.36 x 2.37 x 4.76 x 5 x 3.88 x 1.9 x 1.58 x
EV / EBITDA 14.1 x 12 x 11.4 x 21.2 x 31.3 x 19.9 x 8.07 x 6.7 x
EV / FCF - - - -213 x -40.2 x 36.4 x 23.4 x 13 x
FCF Yield - - - -0.47% -2.49% 2.75% 4.27% 7.68%
Price to Book 1.51 x 1.94 x 2.24 x 4.49 x 3.3 x 2.35 x 1.53 x 1.29 x
Nbr of stocks (in thousands) 1,779,019 1,767,659 1,762,029 1,796,879 1,796,879 1,796,879 1,796,879 -
Reference price 2 4.450 6.320 8.420 19.39 15.13 9.400 9.400 9.400
Announcement Date 2/26/19 2/28/20 3/11/21 4/12/22 4/28/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 3,894 5,967 8,051 8,166 6,738 7,727 13,923 18,045
EBITDA 1 731.9 1,178 1,669 1,833 1,074 1,502 3,274 4,265
EBIT 1 555.3 872.8 1,312 1,498 659 891 2,182 2,926
Operating Margin 14.26% 14.63% 16.29% 18.34% 9.78% 11.53% 15.67% 16.22%
Earnings before Tax (EBT) 1 557 877.9 1,314 1,489 666.5 886.8 2,097 2,786
Net income 1 490.4 746.5 1,050 1,310 628.1 795.2 1,827 2,458
Net margin 12.59% 12.51% 13.04% 16.04% 9.32% 10.29% 13.12% 13.62%
EPS 2 0.2800 0.4200 0.6000 0.7300 0.3500 0.4400 0.9933 1.326
Free Cash Flow 1 - - - -182.7 -837.9 823.2 1,128 2,196
FCF margin - - - -2.24% -12.44% 10.65% 8.1% 12.17%
FCF Conversion (EBITDA) - - - - - 54.81% 34.45% 51.48%
FCF Conversion (Net income) - - - - - 103.52% 61.75% 89.35%
Dividend per Share 2 0.0600 0.1000 0.1500 0.0800 - 0.0750 0.1620 0.1900
Announcement Date 2/26/19 2/28/20 3/11/21 4/12/22 4/28/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2
Net sales 1 - - - - - - - - - - 2,946 3,378 3,296 2,717 3,396
EBITDA - - - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS 2 0.1545 0.2814 0.1700 0.1300 0.1500 0.0181 0.1200 0.0700 0.1400 0.1097 0.2100 0.1000 0.2300 0.1300 0.2500
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 3/11/21 4/25/21 8/23/21 10/26/21 4/12/22 4/29/22 8/18/22 10/27/22 4/28/23 4/28/23 8/28/23 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 2,396 2,905 4,267 4,066 6,480 9,104 9,540 11,699
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.274 x 2.466 x 2.557 x 2.219 x 6.034 x 6.061 x 2.914 x 2.743 x
Free Cash Flow 1 - - - -183 -838 823 1,128 2,196
ROE (net income / shareholders' equity) 9.67% 13.5% 16.8% 18.1% 7.84% 9.37% 16.3% 18.3%
ROA (Net income/ Total Assets) 4.11% 5.71% 7.55% 8.6% 3.53% 5.15% 7.01% 6.93%
Assets 1 11,919 13,071 13,908 15,224 17,791 22,063 26,048 35,467
Book Value Per Share 2 2.940 3.270 3.750 4.310 4.580 4.950 6.150 7.300
Cash Flow per Share 2 0.3500 0.4800 0.1300 0.4300 0.4200 1.020 0.9700 1.490
Capex 1 938 872 1,140 959 1,592 1,006 978 963
Capex / Sales 24.09% 14.61% 14.16% 11.74% 23.62% 13.02% 7.03% 5.33%
Announcement Date 2/26/19 2/28/20 3/11/21 4/12/22 4/28/23 4/26/24 - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
9.4 CNY
Average target price
16.8 CNY
Spread / Average Target
+78.72%
Consensus
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