Financials Wuxi Lead Intelligent Equipment CO.,LTD.

Equities

300450

CNE100001ZF9

Industrial Machinery & Equipment

End-of-day quote Shenzhen S.E. 06:00:00 2024-02-20 pm EST 5-day change 1st Jan Change
21.15 CNY +1.44% Intraday chart for Wuxi Lead Intelligent Equipment CO.,LTD. +1.34% -17.38%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 25,515 39,612 76,206 116,299 63,038 33,007 33,007 -
Enterprise Value (EV) 1 24,775 38,779 73,816 113,607 56,976 26,009 20,598 17,617
P/E ratio 27.2 x 51.8 x 96.6 x 58 x 27.2 x 9.67 x 8.01 x 6.69 x
Yield 0.97% 0.36% 0.36% 0.67% 1.33% 3.12% 3.68% 4.19%
Capitalization / Revenue 6.56 x 8.46 x 13 x 11.6 x 4.52 x 1.74 x 1.42 x 1.18 x
EV / Revenue 6.37 x 8.28 x 12.6 x 11.3 x 4.09 x 1.37 x 0.88 x 0.63 x
EV / EBITDA 24.4 x 40.7 x 81.9 x 62.7 x 20.2 x 6.5 x 4.39 x 3.04 x
EV / FCF -199 x 118 x 79.6 x 136 x 80.9 x 21.2 x 3.92 x 4.48 x
FCF Yield -0.5% 0.85% 1.26% 0.74% 1.24% 4.73% 25.5% 22.3%
Price to Book 7.42 x 9.25 x 13.6 x 12.3 x 5.67 x 2.41 x 1.95 x 1.58 x
Nbr of stocks (in thousands) 1,410,655 1,410,314 1,451,716 1,563,794 1,566,163 1,560,613 1,560,613 -
Reference price 2 18.09 28.09 52.49 74.37 40.25 21.15 21.15 21.15
Announcement Date 2/27/19 2/28/20 4/22/21 4/24/22 4/25/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 3,890 4,684 5,858 10,037 13,932 18,955 23,309 28,005
EBITDA 1 1,014 953.2 901.6 1,811 2,821 4,002 4,696 5,787
EBIT 1 969.4 884.2 810.9 1,690 2,520 3,784 4,547 5,543
Operating Margin 24.92% 18.88% 13.84% 16.84% 18.09% 19.96% 19.51% 19.79%
Earnings before Tax (EBT) 1 838.8 835.5 838.6 1,705 2,541 3,718 4,422 5,405
Net income 1 742.4 765.6 767.5 1,585 2,318 3,426 4,132 4,953
Net margin 19.09% 16.34% 13.1% 15.79% 16.63% 18.07% 17.73% 17.69%
EPS 2 0.6651 0.5426 0.5433 1.282 1.481 2.188 2.640 3.161
Free Cash Flow 1 -124.2 327.8 927.7 837.2 704.2 1,229 5,261 3,931
FCF margin -3.19% 7% 15.83% 8.34% 5.05% 6.48% 22.57% 14.04%
FCF Conversion (EBITDA) - 34.39% 102.89% 46.22% 24.96% 30.71% 112.02% 67.92%
FCF Conversion (Net income) - 42.81% 120.87% 52.83% 30.39% 35.87% 127.32% 79.36%
Dividend per Share 2 0.1750 0.1019 0.1875 0.5000 0.5370 0.6590 0.7778 0.8852
Announcement Date 2/27/19 2/28/20 4/22/21 4/24/22 4/25/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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 2024 Q3 2024 Q4
Net sales 1 2,061 2,680 4,089 2,926 2,523 4,551 3,932 3,274 3,812 6,101 6,034 3,832 3,983 6,498 6,762
EBITDA 1 348.8 493.8 586.7 423.6 518.8 929.3 842.3 - - - 1,689 785.1 864.7 1,580 1,871
EBIT 1 346.5 492.8 619.8 407.3 545.9 889.8 677.4 637.7 663.4 1,265 1,632 720.7 800.3 1,515 1,806
Operating Margin 16.81% 18.39% 15.16% 13.92% 21.64% 19.55% 17.23% 19.48% 17.4% 20.74% 27.05% 18.81% 20.09% 23.32% 26.71%
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income 1 300.4 502.6 580.9 346.4 466.1 852.8 652.4 563.3 - 1,123 1,250 665.2 744.7 1,302 1,525
Net margin 14.57% 18.76% 14.21% 11.84% 18.47% 18.74% 16.59% 17.21% - 18.41% 20.72% 17.36% 18.7% 20.04% 22.55%
EPS 2 0.2069 0.3200 0.6100 0.2212 0.3000 0.5400 0.4160 0.3596 0.4100 0.7171 0.5295 0.3982 0.4418 0.8872 0.6668
Dividend per Share 2 - - 0.5000 - - - 0.5370 - - - 0.6846 - - - 1.082
Announcement Date 8/23/21 10/28/21 4/24/22 4/24/22 8/25/22 10/27/22 4/25/23 4/25/23 8/25/23 10/23/23 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - - - -
Net Cash position 1 741 833 2,390 2,693 6,062 6,998 12,409 15,390
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -124 328 928 837 704 1,229 5,261 3,931
ROE (net income / shareholders' equity) 24% 19.8% 16.6% 21% 22.6% 26.2% 26% 25.3%
ROA (Net income/ Total Assets) 9.85% 8.53% 6.92% 8.64% - 9% 9.03% 8.74%
Assets 1 7,538 8,971 11,090 18,331 - 38,082 45,737 56,655
Book Value Per Share 2 2.440 3.040 3.870 6.060 7.100 8.770 10.80 13.40
Cash Flow per Share 2 -0.0300 0.3800 0.9300 0.8600 1.080 1.460 0.8300 3.330
Capex 1 76.3 213 425 507 987 466 414 451
Capex / Sales 1.96% 4.55% 7.26% 5.05% 7.08% 2.46% 1.78% 1.61%
Announcement Date 2/27/19 2/28/20 4/22/21 4/24/22 4/25/23 - - -
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
18
Last Close Price
21.15 CNY
Average target price
36.15 CNY
Spread / Average Target
+70.90%
Consensus
1st Jan change Capi.
-17.38% 4 524 M $
-0.94% 15 085 M $
-4.67% 4 921 M $
-9.81% 4 504 M $
+3.22% 3 955 M $
-3.83% 3 877 M $
+16.73% 3 874 M $
+12.38% 3 713 M $
+12.42% 3 178 M $
-0.70% 3 158 M $
Industrial Machinery
+229% on MICROSOFT CORPORATION since our purchase on January 11, 2019
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