Company Valuation: Yangzijiang Shipbuilding (Holdings) Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 18,172 24,773 27,637 31,622 63,176 86,223 86,223 -
Change - 36.32% 11.56% 14.42% 99.78% 36.48% 0% -
Enterprise Value (EV) 1 15,783 16,866 21,426 20,656 41,856 63,339 61,939 57,713
Change - 6.86% 27.04% -3.59% 102.63% 51.33% -2.21% -6.82%
P/E ratio 7.33x 6.59x 9.82x 7.71x 9.52x 8.63x 8.95x 8.08x
PBR 0.56x 0.69x 1.57x 1.51x 2.4x 2.71x 2.31x 2.01x
PEG - 0.1x -0.4x 0.2x 0.2x 0.3x 0.5x 0.8x
Capitalization / Revenue 1.22x 1.48x 1.33x 1.31x 2.38x 2.61x 2.65x 2.26x
EV / Revenue 1.06x 1.01x 1.03x 0.86x 1.58x 2.26x 1.9x 1.51x
EV / EBITDA 3.95x 3.97x 6.31x 3.72x 5x 6.68x 5.55x 4.39x
EV / EBIT 4.53x 4.47x 7.28x 4.08x 5.29x 7.17x 5.9x 4.65x
EV / FCF -17.5x 3.08x 5.75x 2.88x 3.52x 14.8x 5.45x 5.55x
FCF Yield -5.7% 32.5% 17.4% 34.8% 28.4% 6.75% 18.3% 18%
Dividend per Share 2 0.2203 0.2333 0.2573 0.3483 0.6517 0.8204 1.215 1.343
Rate of return 4.67% 3.7% 3.68% 4.35% 4.08% 3.74% 5.54% 6.13%
EPS 2 0.6439 0.9579 0.7125 1.038 1.679 2.192 2.449 2.712
Distribution rate 34.2% 24.4% 36.1% 33.5% 38.8% 39.1% 49.6% 49.5%
Net sales 1 14,841 16,768 20,705 24,112 26,542 28,505 32,563 38,179
EBITDA 1 3,998 4,250 3,395 5,558 8,368 9,456 11,156 13,132
EBIT 1 3,482 3,775 2,942 5,062 7,907 8,926 10,504 12,402
Net income 1 2,516 3,699 2,807 4,102 6,634 8,637 9,668 10,708
Net Debt 1 -2,389 -7,907 -6,211 -10,966 -21,320 -22,884 -24,283 -28,510
Reference price 2 4.72 6.31 7.00 8.00 15.99 21.91 21.91 21.91
Nbr of stocks (in thousands) 3,852,516 3,923,415 3,950,589 3,950,589 3,950,589 3,935,589 3,935,589 -
Announcement Date 2/25/21 2/27/22 2/22/23 2/27/24 2/26/25 2/25/26 - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.13x - - - 40.66B
40.12x3.27x28.26x-.--% 25.67B
11.8x0.75x4.99x2.16% 19.15B
37.33x2.49x23.46x0.19% 16.51B
45.89x1.79x17.28x0.89% 6.85B
15.08x0.78x8.04x1.84% 6.04B
42.34x0.76x10.51x-.--% 5.73B
18.22x - - 0.55% 5.4B
Average 29.49x 1.64x 15.42x 0.8% 15.75B
Weighted average by Cap. 28.89x 2.01x 17.95x 0.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Yangzijiang Shipbuilding (Holdings) Ltd.
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