Financials Zhejiang Wanliyang Co., Ltd.

Equities

002434

CNE100000QB9

Auto, Truck & Motorcycle Parts

End-of-day quote Shenzhen S.E. 06:00:00 2024-07-11 pm EDT 5-day change 1st Jan Change
4.96 CNY +1.02% Intraday chart for Zhejiang Wanliyang Co., Ltd. +4.86% -33.42%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 8,896 12,443 11,708 19,348 10,566 9,779
Enterprise Value (EV) 1 9,977 13,186 12,138 20,435 11,471 10,755
P/E ratio 25.3 x 31.6 x 19 x -25.9 x 35 x 32.4 x
Yield 2.28% 1.05% 5.04% - - 4.03%
Capitalization / Revenue 2.04 x 2.44 x 1.93 x 3.53 x 2.07 x 1.65 x
EV / Revenue 2.28 x 2.59 x 2 x 3.73 x 2.24 x 1.82 x
EV / EBITDA 14.1 x 19.7 x 12.3 x 29.4 x 18.9 x 13.7 x
EV / FCF -131 x -17.7 x 13.6 x 84.9 x 150 x 20.3 x
FCF Yield -0.76% -5.64% 7.34% 1.18% 0.67% 4.93%
Price to Book 1.45 x 2.02 x 1.76 x 3.64 x 1.89 x 1.66 x
Nbr of stocks (in thousands) 1,350,000 1,312,600 1,312,600 1,312,600 1,312,600 1,312,600
Reference price 2 6.590 9.480 8.920 14.74 8.050 7.450
Announcement Date 4/22/19 4/28/20 4/19/21 4/19/22 4/24/23 4/24/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 4,371 5,100 6,065 5,475 5,113 5,913
EBITDA 1 709.5 669.9 985.4 695.6 606.7 783
EBIT 1 392.6 282.6 531.1 194.1 174.1 349.3
Operating Margin 8.98% 5.54% 8.76% 3.55% 3.4% 5.91%
Earnings before Tax (EBT) 1 423.7 411.3 669.5 -746.8 299.1 318.9
Net income 1 351.6 400.3 617.3 -747.5 300.1 301.1
Net margin 8.04% 7.85% 10.18% -13.65% 5.87% 5.09%
EPS 2 0.2600 0.3000 0.4700 -0.5700 0.2300 0.2300
Free Cash Flow 1 -76 -744 890.3 240.6 76.32 529.8
FCF margin -1.74% -14.59% 14.68% 4.39% 1.49% 8.96%
FCF Conversion (EBITDA) - - 90.35% 34.59% 12.58% 67.66%
FCF Conversion (Net income) - - 144.23% - 25.43% 175.96%
Dividend per Share 2 0.1500 0.1000 0.4500 - - 0.3000
Announcement Date 4/22/19 4/28/20 4/19/21 4/19/22 4/24/23 4/24/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,080 743 429 1,088 905 976
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.522 x 1.109 x 0.4355 x 1.563 x 1.491 x 1.247 x
Free Cash Flow 1 -76 -744 890 241 76.3 530
ROE (net income / shareholders' equity) 5.75% 6.42% 9.47% -12.5% 5.43% 5.09%
ROA (Net income/ Total Assets) 2.59% 1.7% 2.95% 1.12% 1.08% 2.09%
Assets 1 13,585 23,512 20,904 -66,502 27,883 14,376
Book Value Per Share 2 4.550 4.700 5.070 4.050 4.260 4.490
Cash Flow per Share 2 0.5000 0.5400 0.8800 0.6200 0.5200 0.7100
Capex 1 647 531 315 64.9 248 425
Capex / Sales 14.8% 10.41% 5.19% 1.18% 4.85% 7.18%
Announcement Date 4/22/19 4/28/20 4/19/21 4/19/22 4/24/23 4/24/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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