Financials Zhejiang Hengtong Holding Co.,Ltd.

Equities

600226

CNE0000010Q7

Multiline Utilities

End-of-day quote Shanghai S.E. 06:00:00 2024-06-23 pm EDT 5-day change 1st Jan Change
2.01 CNY -3.37% Intraday chart for Zhejiang Hengtong Holding Co.,Ltd. -5.63% -22.99%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 8,788 9,812 5,420 6,972 6,919 7,685
Enterprise Value (EV) 1 8,628 10,065 5,516 6,553 5,931 7,140
P/E ratio 62 x -14.3 x -5.76 x 19.5 x 14.7 x 43.5 x
Yield 0.79% - - - - -
Capitalization / Revenue 8.95 x 12.2 x 9.75 x 10.2 x 11.5 x 11.9 x
EV / Revenue 8.79 x 12.5 x 9.93 x 9.62 x 9.85 x 11 x
EV / EBITDA 91.9 x -407 x -8.31 x 292 x -205 x 124 x
EV / FCF -19.7 x -31.3 x 33.5 x 10.9 x 46.9 x -16.2 x
FCF Yield -5.07% -3.2% 2.99% 9.18% 2.13% -6.17%
Price to Book 2.03 x 2.77 x 2.06 x 2.61 x 2.24 x 2.36 x
Nbr of stocks (in thousands) 3,138,640 3,124,793 3,115,165 2,979,457 2,944,381 2,944,381
Reference price 2 2.800 3.140 1.740 2.340 2.350 2.610
Announcement Date 4/23/19 6/29/20 4/29/21 4/27/22 3/29/23 4/22/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 982.1 805.3 555.7 681.2 602.1 647.9
EBITDA 1 93.91 -24.76 -663.5 22.43 -28.96 57.48
EBIT 1 37.85 -82.86 -728.8 -27.14 -76.87 11.78
Operating Margin 3.85% -10.29% -131.17% -3.98% -12.77% 1.82%
Earnings before Tax (EBT) 1 137.2 -663.1 -944.9 384.3 543 170.5
Net income 1 141.7 -673 -942.3 375 486 165.8
Net margin 14.43% -83.57% -169.58% 55.05% 80.72% 25.58%
EPS 2 0.0452 -0.2200 -0.3019 0.1200 0.1600 0.0600
Free Cash Flow 1 -437.5 -321.9 164.8 601.2 126.5 -440.9
FCF margin -44.55% -39.97% 29.65% 88.26% 21.02% -68.05%
FCF Conversion (EBITDA) - - - 2,680.32% - -
FCF Conversion (Net income) - - - 160.32% 26.04% -
Dividend per Share 2 0.0220 - - - - -
Announcement Date 4/23/19 6/29/20 4/29/21 4/27/22 3/29/23 4/22/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - 253 95.5 - - -
Net Cash position 1 160 - - 419 988 544
Leverage (Debt/EBITDA) - -10.23 x -0.1439 x - - -
Free Cash Flow 1 -438 -322 165 601 127 -441
ROE (net income / shareholders' equity) 3.23% -17.2% -30.6% 14.2% 16.9% 4.54%
ROA (Net income/ Total Assets) 0.45% -1.12% -12.6% -0.57% -1.53% 0.19%
Assets 1 31,521 59,960 7,457 -66,295 -31,685 89,214
Book Value Per Share 2 1.380 1.130 0.8400 0.9000 1.050 1.110
Cash Flow per Share 2 0.1500 0.0300 0.0200 0.1200 0.2900 0.2500
Capex 1 161 77.2 15.2 18.9 23.8 396
Capex / Sales 16.35% 9.59% 2.74% 2.77% 3.95% 61.15%
Announcement Date 4/23/19 6/29/20 4/29/21 4/27/22 3/29/23 4/22/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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