Financials XCMG Construction Machinery Co., Ltd.

Equities

000425

CNE000000FH0

Heavy Machinery & Vehicles

End-of-day quote Shenzhen S.E. 06:00:00 2024-05-23 pm EDT 5-day change 1st Jan Change
7.85 CNY +2.75% Intraday chart for XCMG Construction Machinery Co., Ltd. +0.38% +43.77%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 42,850 42,067 46,924 59,908 63,871 92,756 - -
Enterprise Value (EV) 1 36,339 33,026 39,474 78,080 84,141 116,463 120,025 124,186
P/E ratio 12.7 x 11.9 x 8.49 x 14.1 x 12.1 x 14.1 x 10.8 x 8.44 x
Yield 1.1% 1.86% - 2.96% 3.3% 2.83% 3.93% 5.06%
Capitalization / Revenue 0.72 x 0.57 x 0.56 x 0.64 x 0.69 x 0.92 x 0.81 x 0.69 x
EV / Revenue 0.61 x 0.45 x 0.47 x 0.83 x 0.91 x 1.15 x 1.05 x 0.92 x
EV / EBITDA 7.06 x 6.05 x 5.21 x 9.02 x 8.76 x 9.08 x 7.89 x 6.53 x
EV / FCF 11.3 x - - -12.4 x -36.1 x -73.7 x -118 x -167 x
FCF Yield 8.88% - - -8.07% -2.77% -1.36% -0.84% -0.6%
Price to Book - 1.33 x 1.29 x 1.12 x 1.15 x 1.53 x 1.4 x 1.25 x
Nbr of stocks (in thousands) 7,833,668 7,833,668 7,833,668 11,816,166 11,698,005 11,816,086 - -
Reference price 2 5.470 5.370 5.990 5.070 5.460 7.850 7.850 7.850
Announcement Date 4/29/20 4/14/21 4/18/22 4/28/23 4/29/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 59,176 73,968 84,328 93,817 92,848 101,111 114,835 134,902
EBITDA 1 5,146 5,455 7,583 8,652 9,608 12,823 15,213 19,026
EBIT 1 4,083 4,275 6,182 5,083 5,640 7,622 9,977 13,072
Operating Margin 6.9% 5.78% 7.33% 5.42% 6.07% 7.54% 8.69% 9.69%
Earnings before Tax (EBT) 1 4,102 4,296 6,288 5,013 5,678 7,282 9,692 12,309
Net income 1 3,621 3,729 5,615 4,307 5,326 6,599 8,622 11,004
Net margin 6.12% 5.04% 6.66% 4.59% 5.74% 6.53% 7.51% 8.16%
EPS 2 0.4320 0.4505 0.7052 0.3600 0.4500 0.5583 0.7293 0.9296
Free Cash Flow 1 3,228 - - -6,302 -2,332 -1,581 -1,014 -742
FCF margin 5.45% - - -6.72% -2.51% -1.56% -0.88% -0.55%
FCF Conversion (EBITDA) 62.72% - - - - - - -
FCF Conversion (Net income) 89.15% - - - - - - -
Dividend per Share 2 0.0600 0.1000 - 0.1500 0.1800 0.2224 0.3084 0.3972
Announcement Date 4/29/20 4/14/21 4/18/22 4/28/23 4/29/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 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 2025 Q1 2025 Q2
Net sales 1 - 14,532 20,034 18,170 36,850 18,763 23,813 27,465 20,393 21,178 24,174 29,366 22,448 20,242 34,383 33,312
EBITDA 1 - 929.8 1,361 1,080 2,962 3,250 - - - - - 4,312 1,940 2,535 5,049 5,260
EBIT 1 - 1,071 1,589 996.2 2,703 -205.6 1,680 2,210 1,503 248.5 1,881 3,246 873 1,468 3,885 4,095
Operating Margin - 7.37% 7.93% 5.48% 7.34% -1.1% 7.05% 8.05% 7.37% 1.17% 7.78% 11.05% 3.89% 7.25% 11.3% 12.29%
Earnings before Tax (EBT) - - - - - - - - - - - - - - - -
Net income 1 2,062 1,005 1,405 915.1 2,355 -368.8 1,523 2,066 1,250 487.1 1,600 2,549 434.2 1,374 3,036 3,240
Net margin - 6.92% 7.02% 5.04% 6.39% -1.97% 6.4% 7.52% 6.13% 2.3% 6.62% 8.68% 1.93% 6.79% 8.83% 9.73%
EPS 2 0.2500 0.1300 0.1790 0.1200 0.1000 -0.0400 0.1290 0.1700 0.1100 0.0400 0.1350 0.2158 0.0367 0.1163 0.2569 0.2742
Dividend per Share 2 - - - - - 0.1500 - - - - - - - 0.2298 - -
Announcement Date 8/30/20 4/18/22 4/29/22 8/30/22 10/25/22 4/28/23 4/28/23 8/30/23 10/30/23 4/29/24 4/29/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 18,172 20,269 23,707 27,269 31,430
Net Cash position 1 6,511 9,041 7,450 - - - - -
Leverage (Debt/EBITDA) - - - 2.1 x 2.11 x 1.849 x 1.792 x 1.652 x
Free Cash Flow 1 3,228 - - -6,302 -2,332 -1,581 -1,014 -742
ROE (net income / shareholders' equity) 12.6% 11.7% 16.2% 8.13% 9.86% 10.9% 13.3% 15%
ROA (Net income/ Total Assets) - 4.41% 5.56% - - 4.02% 4.78% 5.2%
Assets 1 - 84,543 100,913 - - 164,157 180,245 211,615
Book Value Per Share 2 - 4.050 4.650 4.510 4.750 5.140 5.610 6.290
Cash Flow per Share 2 0.6600 0.3600 1.030 0.1300 0.3000 1.090 0.8300 1.440
Capex 1 1,908 1,947 3,075 7,885 5,903 4,607 5,084 5,299
Capex / Sales 3.22% 2.63% 3.65% 8.4% 6.36% 4.56% 4.43% 3.93%
Announcement Date 4/29/20 4/14/21 4/18/22 4/28/23 4/29/24 - - -
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
10
Last Close Price
7.85 CNY
Average target price
7.658 CNY
Spread / Average Target
-2.44%
Consensus
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  4. Financials XCMG Construction Machinery Co., Ltd.