ZHONGHANG ELECTRONIC MEASURING INSTRUMENTS CO.,LTD Financials Zhonghang Electronic Measuring Instruments Co.,Ltd
Equities
300114
CNE100000T08
Electrical Components & Equipment
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 42 CNY | +0.96% |
|
+2.36% | -4.00% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 4,206 | 6,678 | 8,832 | 10,362 | 6,013 | 25,641 |
| Enterprise Value (EV) 1 | 3,781 | 6,034 | 8,112 | 9,992 | 5,879 | 25,660 |
| P/E ratio | 27.4 x | 31.6 x | 33.2 x | 34 x | 31.1 x | 257 x |
| Yield | 0.63% | 0.44% | 0.34% | 0.28% | 0.29% | - |
| Capitalization / Revenue | 3.03 x | 4.32 x | 5.02 x | 5.33 x | 3.16 x | 15.3 x |
| EV / Revenue | 2.72 x | 3.91 x | 4.61 x | 5.14 x | 3.09 x | 15.3 x |
| EV / EBITDA | 18.5 x | 24.8 x | 26.4 x | 28.5 x | 26.2 x | 225 x |
| EV / FCF | -180 x | 29.3 x | -355 x | -30.2 x | -35 x | -149 x |
| FCF Yield | -0.55% | 3.42% | -0.28% | -3.31% | -2.86% | -0.67% |
| Price to Book | 2.89 x | 4.16 x | 4.63 x | 4.87 x | 2.61 x | 10.7 x |
| Nbr of stocks (in thousands) | 590,760 | 586,808 | 590,760 | 586,069 | 586,069 | 586,069 |
| Reference price 2 | 7.120 | 11.38 | 14.95 | 17.68 | 10.26 | 43.75 |
| Announcement Date | 3/14/19 | 3/31/20 | 3/16/21 | 3/30/22 | 3/21/23 | 3/14/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 1,388 | 1,545 | 1,760 | 1,943 | 1,905 | 1,677 |
| EBITDA 1 | 204.7 | 243.3 | 307.7 | 350.4 | 224.6 | 114.3 |
| EBIT 1 | 167 | 204.4 | 265.3 | 301.4 | 173.5 | 60.61 |
| Operating Margin | 12.03% | 13.23% | 15.08% | 15.51% | 9.11% | 3.61% |
| Earnings before Tax (EBT) 1 | 197.2 | 244.3 | 307.5 | 349.8 | 213.6 | 92.88 |
| Net income 1 | 156.2 | 212.4 | 262.5 | 307 | 192.9 | 98.17 |
| Net margin | 11.25% | 13.75% | 14.92% | 15.8% | 10.12% | 5.85% |
| EPS 2 | 0.2600 | 0.3600 | 0.4500 | 0.5200 | 0.3300 | 0.1700 |
| Free Cash Flow 1 | -20.97 | 206.1 | -22.87 | -330.8 | -168 | -171.8 |
| FCF margin | -1.51% | 13.34% | -1.3% | -17.03% | -8.82% | -10.24% |
| FCF Conversion (EBITDA) | - | 84.68% | - | - | - | - |
| FCF Conversion (Net income) | - | 97.01% | - | - | - | - |
| Dividend per Share 2 | 0.0450 | 0.0495 | 0.0504 | 0.0500 | 0.0300 | - |
| Announcement Date | 3/14/19 | 3/31/20 | 3/16/21 | 3/30/22 | 3/21/23 | 3/14/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | 19.4 |
| Net Cash position 1 | 426 | 644 | 720 | 369 | 134 | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | 0.1699 x |
| Free Cash Flow 1 | -21 | 206 | -22.9 | -331 | -168 | -172 |
| ROE (net income / shareholders' equity) | 11.5% | 13.8% | 14.9% | 15.2% | 8.65% | 4.15% |
| ROA (Net income/ Total Assets) | 4.88% | 5.61% | 6.12% | 6.04% | 3.12% | 0.99% |
| Assets 1 | 3,199 | 3,784 | 4,291 | 5,079 | 6,184 | 9,887 |
| Book Value Per Share 2 | 2.460 | 2.730 | 3.230 | 3.630 | 3.920 | 4.070 |
| Cash Flow per Share 2 | 0.7200 | 1.100 | 1.220 | 0.7400 | 0.5600 | 0.7900 |
| Capex 1 | 42.3 | 47.2 | 159 | 263 | 221 | 239 |
| Capex / Sales | 3.05% | 3.06% | 9.05% | 13.56% | 11.58% | 14.26% |
| Announcement Date | 3/14/19 | 3/31/20 | 3/16/21 | 3/30/22 | 3/21/23 | 3/14/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -4.00% | 3.36B | |
| +60.93% | 6.59B | |
| +22.54% | 3.33B | |
| -6.72% | 2.1B | |
| -24.43% | 1.95B | |
| +5.01% | 1.77B | |
| -15.53% | 1.17B | |
| +8.93% | 1.02B | |
| -17.00% | 906M | |
| -25.01% | 857M |
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