Financials Yanlord Land Group Limited

Equities

Market Closed - Singapore S.E. Other stock markets 05:04:35 2024-04-26 am EDT			5-day change	1st Jan Change
0.425 ^SGD	+2.41%		+6.25%	-26.72%

Apr. 12	Yanlord Land Group Limited Announces Retirement of Hong Pian Tee as Independent Non-Executive Director, the Chairman of Audit Committee, A Member of Remuneration Committee and A Member of Risk Management and Sustainability Committee	CI
Apr. 12	Yanlord Land Group Limited Announces Retirement of Zhong Siliang as Executive Director	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,337	2,163	2,144	1,970	1,120	820.9	-	-
Enterprise Value (EV) ¹	8,668	7,375	6,671	6,292	1,120	3,504	3,428	3,637
P/E ratio	3.51 x	4.05 x	3.77 x	6.62 x	-6.43 x	4.75 x	4.67 x	4.09 x
Yield	5.64%	6.29%	6.32%	-	-	-	-	-
Capitalization / Revenue	0.63 x	0.44 x	0.29 x	0.35 x	0.14 x	0.15 x	0.16 x	0.14 x
EV / Revenue	2.33 x	1.5 x	0.89 x	1.13 x	0.14 x	0.64 x	0.66 x	0.62 x
EV / EBITDA	4.39 x	3.84 x	3.54 x	4.92 x	1.38 x	4.94 x	5.78 x	-
EV / FCF	-	-	-	-	-	23.2 x	-282 x	-
FCF Yield	-	-	-	-	-	4.3%	-0.35%	-
Price to Book	0.42 x	0.34 x	0.29 x	0.29 x	-	0.12 x	0.12 x	0.12 x
Nbr of stocks (in thousands)	1,931,535	1,931,535	1,931,535	1,931,535	1,931,535	1,931,535	-	-
Reference price ²	1.210	1.120	1.110	1.020	0.5800	0.4250	0.4250	0.4250
Announcement Date	2/26/20	2/26/21	2/27/22	2/28/23	2/27/24	-	-	-

¹SGD in Million²SGD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,713	4,925	7,465	5,575	8,098	5,456	5,202	5,853
EBITDA ¹	1,973	1,919	1,883	1,278	811.7	709.1	593.2	-
EBIT ¹	1,935	1,854	1,587	1,198	1,117	702.8	686	915.7
Operating Margin	52.11%	37.65%	21.26%	21.48%	13.8%	12.88%	13.19%	15.65%
Earnings before Tax (EBT) ¹	1,750	1,541	1,662	-	569.8	491.6	375.6	-
Net income ¹	666.5	533.7	569.2	297.6	-174.2	195.2	163.8	-
Net margin	17.95%	10.84%	7.63%	5.34%	-2.15%	3.58%	3.15%	-
EPS ²	0.3451	0.2763	0.2947	0.1541	-0.0902	0.0895	0.0910	0.1040
Free Cash Flow ¹	-	-	-	-	-	150.8	-12.16	-
FCF margin	-	-	-	-	-	2.76%	-0.23%	-
FCF Conversion (EBITDA)	-	-	-	-	-	21.27%	-	-
FCF Conversion (Net income)	-	-	-	-	-	77.28%	-	-
Dividend per Share ²	0.0682	0.0704	0.0702	-	-	-	-	-
Announcement Date	2/26/20	2/26/21	2/27/22	2/28/23	2/27/24	-	-	-

¹SGD in Million²SGD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,331	5,212	4,527	4,321	-	2,683	2,607	2,816
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.208 x	2.715 x	2.404 x	3.382 x	-	3.784 x	4.395 x	-
Free Cash Flow ¹	-	-	-	-	-	151	-12.2	-
ROE (net income / shareholders' equity)	12.6%	8.72%	8.11%	4.43%	-	2.66%	2.62%	2.93%
ROA (Net income/ Total Assets)	2.83%	1.88%	-	0.89%	-	0.7%	0.6%	-
Assets ¹	23,531	28,462	-	33,351	-	27,884	27,292	-
Book Value Per Share ²	2.910	3.330	3.800	3.520	-	3.410	3.500	3.600
Cash Flow per Share ²	0.3900	0.4100	0.2300	0.8500	-	0.1800	0.1300	-0.0300
Capex ¹	60.8	178	-	-	-	934	2,291	-
Capex / Sales	1.64%	3.61%	-	-	-	17.11%	44.04%	-
Announcement Date	2/26/20	2/26/21	2/27/22	2/28/23	2/27/24	-	-	-

¹SGD in Million²SGD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

0.425 SGD

Average target price

0.585 SGD

Spread / Average Target

+37.65%

	1st Jan change	Capi.
YANLORD LAND GROUP LIMITED	-26.72%	602M
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CHINA RESOURCES LAND LIMITED	-0.71%	25.32B
MITSUBISHI ESTATE CO., LTD.	+44.49%	22.58B
EMAAR PROPERTIES	+2.78%	19.59B
CHINA OVERSEAS LAND & INVESTMENT LTD.	+1.45%	19.52B
SUMITOMO REALTY & DEVELOPMENT CO., LTD.	+28.54%	16.23B
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