XIAOMI CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 17.36 HKD | +4.58% |
|
+9.87% | +11.28% |
| Apr. 26 | TAKE A LOOK-Beijing auto show | RE |
| Apr. 26 | Foreign automakers eager for Chinese partners at Beijing auto show | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 229,797 | 703,249 | 384,505 | 240,970 | 355,123 | 400,499 | - | - |
| Enterprise Value (EV) 1 | 199,977 | 648,495 | 353,890 | 206,683 | 295,466 | 319,879 | 307,053 | 288,455 |
| P/E ratio | 23.5 x | 33.9 x | 20.3 x | 96.6 x | 20.5 x | 29.5 x | 24.6 x | 20.3 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 1.12 x | 2.86 x | 1.17 x | 0.86 x | 1.31 x | 1.27 x | 1.13 x | 0.99 x |
| EV / Revenue | 0.97 x | 2.64 x | 1.08 x | 0.74 x | 1.09 x | 1.02 x | 0.86 x | 0.71 x |
| EV / EBITDA | 15.2 x | 25.2 x | 12.2 x | 31.7 x | 11.9 x | 16.5 x | 14.7 x | 11.1 x |
| EV / FCF | 9.8 x | 34.4 x | 135 x | -19.7 x | 8.78 x | 22.7 x | 17.1 x | 15.7 x |
| FCF Yield | 10.2% | 2.91% | 0.74% | -5.09% | 11.4% | 4.41% | 5.84% | 6.36% |
| Price to Book | 2.81 x | 5.42 x | 2.8 x | 1.67 x | 2.15 x | 2.17 x | 1.98 x | 1.79 x |
| Nbr of stocks (in thousands) | 23,853,257 | 25,167,385 | 24,967,962 | 24,940,021 | 25,045,738 | 24,922,700 | - | - |
| Reference price 2 | 9.634 | 27.94 | 15.40 | 9.662 | 14.18 | 16.07 | 16.07 | 16.07 |
| Announcement Date | 3/31/20 | 3/24/21 | 3/22/22 | 3/24/23 | 3/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 205,839 | 245,866 | 328,309 | 280,044 | 270,970 | 314,656 | 355,097 | 405,490 |
| EBITDA 1 | 13,141 | 25,743 | 29,090 | 6,524 | 24,845 | 19,358 | 20,889 | 26,024 |
| EBIT 1 | 11,760 | 24,035 | 26,029 | 2,816 | 20,009 | 14,328 | 16,516 | 22,538 |
| Operating Margin | 5.71% | 9.78% | 7.93% | 1.01% | 7.38% | 4.55% | 4.65% | 5.56% |
| Earnings before Tax (EBT) 1 | 12,163 | 21,633 | 24,417 | 3,934 | 22,011 | 16,793 | 19,442 | 25,363 |
| Net income 1 | 10,103 | 20,313 | 19,339 | 2,474 | 17,475 | 14,212 | 16,858 | 20,993 |
| Net margin | 4.91% | 8.26% | 5.89% | 0.88% | 6.45% | 4.52% | 4.75% | 5.18% |
| EPS 2 | 0.4100 | 0.8250 | 0.7600 | 0.1000 | 0.6900 | 0.5440 | 0.6519 | 0.7925 |
| Free Cash Flow 1 | 20,405 | 18,853 | 2,616 | -10,513 | 33,638 | 14,098 | 17,926 | 18,346 |
| FCF margin | 9.91% | 7.67% | 0.8% | -3.75% | 12.41% | 4.48% | 5.05% | 4.52% |
| FCF Conversion (EBITDA) | 155.28% | 73.23% | 8.99% | - | 135.39% | 72.83% | 85.81% | 70.5% |
| FCF Conversion (Net income) | 201.97% | 92.81% | 13.53% | - | 192.49% | 99.2% | 106.34% | 87.39% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 3/31/20 | 3/24/21 | 3/22/22 | 3/24/23 | 3/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 103,240 | 78,063 | 85,575 | 73,352 | 70,171 | 143,522 | 70,474 | 66,047 | 59,477 | 67,355 | 70,894 | 73,244 | 71,551 | 78,104 | 82,279 | 85,303 | 81,620 |
| EBITDA 1 | - | 3,530 | 5,292 | -32.83 | 2,680 | - | -430 | 4,306 | 6,825 | 5,066 | 6,653 | 6,284 | 5,086 | 5,064 | 4,784 | 3,434 | - |
| EBIT 1 | - | 2,730 | 4,416 | -911.3 | 1,733 | - | -1,361 | 3,356 | 5,900 | 4,041 | 5,011 | 5,057 | 3,192 | 3,730 | 3,649 | 2,135 | 3,896 |
| Operating Margin | - | 3.5% | 5.16% | -1.24% | 2.47% | - | -1.93% | 5.08% | 9.92% | 6% | 7.07% | 6.9% | 4.46% | 4.78% | 4.43% | 2.5% | 4.77% |
| Earnings before Tax (EBT) 1 | - | 1,787 | 3,884 | -415.9 | 1,737 | 1,321 | -1,191 | 3,804 | 5,471 | 4,956 | 5,887 | 5,698 | 4,251 | 3,576 | 3,497 | 2,275 | 4,973 |
| Net income 1 | 6,662 | 792.3 | 2,486 | -587.6 | 1,386 | 798.8 | -1,476 | 3,151 | 4,204 | 3,670 | 4,869 | 4,727 | 3,284 | 3,187 | 3,257 | 2,587 | 4,097 |
| Net margin | 6.45% | 1.01% | 2.9% | -0.8% | 1.98% | 0.56% | -2.09% | 4.77% | 7.07% | 5.45% | 6.87% | 6.45% | 4.59% | 4.08% | 3.96% | 3.03% | 5.02% |
| EPS 2 | - | 0.0300 | 0.1000 | -0.0200 | 0.0600 | 0.0300 | -0.0600 | 0.1300 | 0.1700 | 0.1500 | 0.1900 | 0.1800 | 0.1335 | 0.1186 | 0.1193 | 0.1080 | 0.1600 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/26/20 | 11/23/21 | 3/22/22 | 5/19/22 | 8/19/22 | 8/19/22 | 11/23/22 | 3/24/23 | 5/24/23 | 8/29/23 | 11/20/23 | 3/19/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 29,819 | 54,755 | 30,615 | 34,287 | 59,657 | 80,620 | 93,446 | 112,044 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 20,405 | 18,853 | 2,616 | -10,513 | 33,638 | 14,098 | 17,926 | 18,346 |
| ROE (net income / shareholders' equity) | 13.2% | 19.8% | 14.8% | 6.07% | 11.4% | 8.43% | 8.69% | 9.44% |
| ROA (Net income/ Total Assets) | 6.11% | 9.29% | 7.08% | 3.01% | 5.85% | 4.47% | 4.63% | 4.64% |
| Assets 1 | 165,390 | 218,654 | 273,285 | 82,254 | 298,879 | 318,229 | 364,445 | 452,443 |
| Book Value Per Share 2 | 3.420 | 5.160 | 5.500 | 5.790 | 6.590 | 7.410 | 8.120 | 8.970 |
| Cash Flow per Share 2 | 0.9700 | 0.8900 | 0.3800 | -0.1700 | 1.630 | 0.6800 | 0.8600 | 1.080 |
| Capex 1 | 3,405 | 3,026 | 7,169 | 6,123 | 7,662 | 7,852 | 7,612 | 7,923 |
| Capex / Sales | 1.65% | 1.23% | 2.18% | 2.19% | 2.83% | 2.5% | 2.14% | 1.95% |
| Announcement Date | 3/31/20 | 3/24/21 | 3/22/22 | 3/24/23 | 3/19/24 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
29
Last Close Price
16.07
CNY
Average target price
17.97
CNY
Spread / Average Target
+11.83%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +11.28% | 55.27B | |
| +7.55% | 16.57B | |
| -26.64% | 5.3B | |
| -3.83% | 3.37B | |
| +103.90% | 1.29B | |
| +39.34% | 856M | |
| +13.94% | 365M | |
| -50.00% | 115M | |
| +37.97% | 110M | |
| +5.17% | 83.51M |
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