Financials Zhejiang Sanhua Intelligent Controls Co.,Ltd

Equities

002050

CNE000001M22

Industrial Machinery & Equipment

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
22.16 CNY +1.47% Intraday chart for Zhejiang Sanhua Intelligent Controls Co.,Ltd +6.44% -24.63%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 26,907 47,658 87,639 90,451 76,100 79,435 79,435 -
Enterprise Value (EV) 1 27,366 46,905 86,371 89,699 76,663 82,172 82,867 85,149
P/E ratio 20.8 x 33.3 x 60.1 x 53.8 x 29.5 x 26.4 x 21.4 x 17.6 x
Yield 1.97% 0.87% 1.01% 0.59% 0.94% 1.21% 1.49% 1.81%
Capitalization / Revenue 2.48 x 4.22 x 7.24 x 5.65 x 3.56 x 2.98 x 2.48 x 2.07 x
EV / Revenue 2.53 x 4.16 x 7.13 x 5.6 x 3.59 x 3.09 x 2.59 x 2.22 x
EV / EBITDA 14.7 x 23 x 40.6 x 36.3 x 21 x 19 x 15.7 x 13.5 x
EV / FCF 71.9 x 45 x 90.3 x -241 x -221 x 266 x 69.5 x 39.1 x
FCF Yield 1.39% 2.22% 1.11% -0.41% -0.45% 0.38% 1.44% 2.55%
Price to Book 3.14 x 5.16 x 8.8 x 8.1 x 6.08 x 5.23 x 4.43 x 3.75 x
Nbr of stocks (in thousands) 3,583,335 3,575,042 3,555,332 3,575,158 3,586,255 3,584,607 3,584,607 -
Reference price 2 7.509 13.33 24.65 25.30 21.22 22.16 22.16 22.16
Announcement Date 2/27/19 2/14/20 3/26/21 3/9/22 4/28/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 10,836 11,287 12,110 16,021 21,348 26,620 31,975 38,358
EBITDA 1 1,857 2,036 2,127 2,474 3,642 4,334 5,274 6,328
EBIT 1 1,546 1,664 1,702 1,987 3,067 3,664 4,473 5,462
Operating Margin 14.27% 14.74% 14.05% 12.4% 14.37% 13.76% 13.99% 14.24%
Earnings before Tax (EBT) 1 1,539 1,663 1,692 1,977 3,051 3,644 4,480 5,458
Net income 1 1,292 1,421 1,462 1,684 2,573 3,082 3,797 4,632
Net margin 11.93% 12.59% 12.07% 10.51% 12.05% 11.58% 11.87% 12.08%
EPS 2 0.3610 0.4000 0.4100 0.4700 0.7200 0.8388 1.034 1.262
Free Cash Flow 1 380.6 1,042 956.8 -371.6 -347.5 308.4 1,193 2,175
FCF margin 3.51% 9.23% 7.9% -2.32% -1.63% 1.16% 3.73% 5.67%
FCF Conversion (EBITDA) 20.49% 51.17% 44.99% - - 7.12% 22.62% 34.37%
FCF Conversion (Net income) 29.45% 73.29% 65.44% - - 10.01% 31.42% 46.95%
Dividend per Share 2 0.1479 0.1154 0.2500 0.1500 0.2000 0.2688 0.3297 0.4022
Announcement Date 2/27/19 2/14/20 3/26/21 3/9/22 4/28/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 Q3 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
Net sales 1 4,266 4,046 4,301 4,804 5,356 5,439 5,749 5,679 6,850 6,447 7,389 7,179 8,379 8,155 8,845
EBITDA 1 - 700.7 560.6 635.8 809 909.6 - - - - 1,077 - - - -
EBIT 1 556.9 568.7 409.8 552.3 685.9 732.2 1,096 701.8 976.8 940.8 976.4 870.9 1,192 1,231 -
Operating Margin 13.05% 14.06% 9.53% 11.5% 12.81% 13.46% 19.07% 12.36% 14.26% 14.59% 13.22% 12.13% 14.23% 15.09% -
Earnings before Tax (EBT) 1 558.5 566.1 403.4 553.5 686 732.2 1,080 - 976 943.3 915.6 - - - -
Net income 1 463.8 469.3 390.9 453 550.2 624.5 945.7 - 793.5 764.9 759.2 - - - -
Net margin 10.87% 11.6% 9.09% 9.43% 10.27% 11.48% 16.45% - 11.58% 11.86% 10.28% - - - -
EPS 2 0.1300 0.1300 0.1100 0.1300 0.1400 0.1700 0.2800 0.1700 0.2200 0.2000 0.2338 0.2200 0.2900 0.2550 0.3100
Dividend per Share 2 - - 0.1500 - - - 0.2000 - - - 0.2343 - - - 0.2965
Announcement Date 8/11/21 10/25/21 3/9/22 4/25/22 8/12/22 10/26/22 4/28/23 4/28/23 8/22/23 10/30/23 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 460 - - - 562 2,737 3,433 5,715
Net Cash position 1 - 753 1,268 753 - - - -
Leverage (Debt/EBITDA) 0.2475 x - - - 0.1544 x 0.6315 x 0.6508 x 0.9031 x
Free Cash Flow 1 381 1,042 957 -372 -348 308 1,193 2,175
ROE (net income / shareholders' equity) 15.7% 16.1% 15% 16% 21.4% 20.8% 21.6% 22.3%
ROA (Net income/ Total Assets) 9.82% 9.9% 9.19% 8.29% - 9.74% 10.3% 10.8%
Assets 1 13,164 14,361 15,912 20,317 - 31,624 37,028 42,882
Book Value Per Share 2 2.390 2.580 2.800 3.120 3.490 4.240 5.000 5.900
Cash Flow per Share 2 0.3600 0.5300 0.5800 0.4300 0.7000 0.7100 0.9000 1.150
Capex 1 907 859 1,131 1,927 2,857 1,620 1,554 1,448
Capex / Sales 8.37% 7.61% 9.34% 12.03% 13.38% 6.09% 4.86% 3.78%
Announcement Date 2/27/19 2/14/20 3/26/21 3/9/22 4/28/23 - - -
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
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
21
Last Close Price
22.16 CNY
Average target price
31.83 CNY
Spread / Average Target
+43.63%
Consensus
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