Financials Zhangzhou Pientzehuang Pharmaceutical., Ltd

Equities

600436

CNE000001F21

Pharmaceuticals

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
225.7 CNY +2.48% Intraday chart for Zhangzhou Pientzehuang Pharmaceutical., Ltd -0.15% -6.74%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 65,515 161,393 263,740 174,033 145,997 136,163 - -
Enterprise Value (EV) 1 61,949 156,943 257,442 172,616 145,897 133,752 132,478 129,371
P/E ratio 48.2 x 96.6 x 108 x 70.5 x 52.2 x 40.6 x 34.5 x 29.3 x
Yield 0.75% 0.34% 0.28% 0.43% 0.96% 1.14% 1.12% 1.33%
Capitalization / Revenue 11.4 x 24.8 x 32.9 x 20 x 14.5 x 11.7 x 10.3 x 9.08 x
EV / Revenue 10.8 x 24.1 x 32.1 x 19.9 x 14.5 x 11.5 x 10 x 8.63 x
EV / EBITDA 36.3 x 75.5 x 85.9 x 56.2 x 41.8 x 33.5 x 28.2 x 23.1 x
EV / FCF -66.5 x 138 x 686 x 25.8 x 70.6 x 39.1 x 34.4 x 28.7 x
FCF Yield -1.5% 0.72% 0.15% 3.88% 1.42% 2.56% 2.91% 3.48%
Price to Book 10 x 20.5 x 27.2 x 15.4 x 10.9 x 8.7 x 7.37 x 6.32 x
Nbr of stocks (in thousands) 596,297 603,317 603,317 603,317 603,317 603,317 - -
Reference price 2 109.9 267.5 437.2 288.5 242.0 225.7 225.7 225.7
Announcement Date 1/17/20 1/19/21 1/19/22 1/30/23 4/19/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,722 6,511 8,022 8,692 10,058 11,596 13,226 14,991
EBITDA 1 1,705 2,080 2,997 3,071 3,488 3,995 4,695 5,592
EBIT 1 1,638 1,977 2,874 2,956 3,394 3,981 4,698 5,539
Operating Margin 28.63% 30.37% 35.83% 34.01% 33.74% 34.33% 35.52% 36.95%
Earnings before Tax (EBT) 1 1,645 1,979 2,869 2,958 3,369 4,028 4,765 5,579
Net income 1 1,374 1,672 2,431 2,469 2,797 3,348 3,949 4,650
Net margin 24.02% 25.67% 30.31% 28.4% 27.81% 28.87% 29.86% 31.02%
EPS 2 2.280 2.770 4.030 4.090 4.640 5.554 6.546 7.711
Free Cash Flow 1 -931.6 1,134 375.4 6,698 2,066 3,418 3,850 4,506
FCF margin -16.28% 17.42% 4.68% 77.05% 20.54% 29.47% 29.11% 30.06%
FCF Conversion (EBITDA) - 54.54% 12.53% 218.06% 59.24% 85.54% 82.02% 80.59%
FCF Conversion (Net income) - 67.86% 15.44% 271.27% 73.86% 102.07% 97.51% 96.9%
Dividend per Share 2 0.8200 0.9000 1.210 1.250 2.320 2.584 2.524 3.006
Announcement Date 1/17/20 1/19/21 1/19/22 1/30/23 4/19/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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 - - - - 2,077 2,630 2,416 2,555 2,459 3,171 3,116 3,022 2,781 3,769 -
EBITDA - - - - - - - - - - - - - - -
EBIT 1 - - - - 469.5 939.6 915.1 1,037 494.6 1,171 1,103 1,209 672.3 1,347 -
Operating Margin - - - - 22.61% 35.73% 37.88% 40.58% 20.12% 36.94% 35.41% 40.01% 24.18% 35.75% -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - 689.3 - - - - - - - 974.5 - - - - -
Net margin - - - - - - - - - 30.73% - - - - -
EPS 2 0.7000 1.140 1.040 1.220 0.6900 1.280 1.260 1.440 0.6500 1.620 1.530 1.655 0.8550 1.955 1.820
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 1/19/22 4/22/22 7/18/22 10/21/22 1/30/23 4/14/23 7/13/23 10/16/23 4/19/24 4/19/24 - - - - -
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 3,567 4,450 6,298 1,417 99.6 2,410 3,684 6,792
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -932 1,134 375 6,698 2,066 3,418 3,851 4,506
ROE (net income / shareholders' equity) 23.6% 23.1% 27.7% 23.5% 22.6% 22% 22.2% 21.1%
ROA (Net income/ Total Assets) 17.8% 17.6% 21.4% 18.3% - 17.8% 18.8% 19.2%
Assets 1 7,734 9,508 11,382 13,458 - 18,803 21,050 24,218
Book Value Per Share 2 11.00 13.00 16.10 18.80 22.20 25.90 30.60 35.70
Cash Flow per Share 2 -1.460 2.430 0.7700 11.40 3.660 5.020 5.300 6.330
Capex 1 52.3 333 86.9 175 141 120 217 300
Capex / Sales 0.91% 5.11% 1.08% 2.02% 1.4% 1.04% 1.64% 2%
Announcement Date 1/17/20 1/19/21 1/19/22 1/30/23 4/19/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
225.7 CNY
Average target price
285.6 CNY
Spread / Average Target
+26.56%
Consensus
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  4. Financials Zhangzhou Pientzehuang Pharmaceutical., Ltd