CHINA RESOURCES GAS GROUP LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 26.85 HKD | -1.10% |
|
-5.12% | +4.88% |
| May. 24 | China Resources Gas Group Limited Approves Final Dividend for the Year Ended 31 December 2023 | CI |
| May. 02 | China Resources Gas Posts 10% Profit Growth For 2023 | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 95,188 | 95,453 | 101,932 | 67,801 | 59,239 | 62,825 | - | - |
| Enterprise Value (EV) 1 | 90,174 | 90,712 | 100,864 | 79,080 | 71,984 | 76,829 | 77,862 | 72,621 |
| P/E ratio | 18.4 x | 17.9 x | 15.6 x | 14 x | 11.1 x | 11.3 x | 10.1 x | 9.24 x |
| Yield | 2.03% | 2.25% | 2.88% | 3.58% | 4.52% | 4.49% | 5.03% | 5.42% |
| Capitalization / Revenue | 1.7 x | 1.71 x | 1.3 x | 0.72 x | 0.58 x | 0.6 x | 0.56 x | 0.52 x |
| EV / Revenue | 1.62 x | 1.62 x | 1.29 x | 0.84 x | 0.71 x | 0.73 x | 0.7 x | 0.6 x |
| EV / EBITDA | 8.94 x | 8.52 x | 7.67 x | 7.03 x | 6.45 x | 5.74 x | 5.39 x | 4.8 x |
| EV / FCF | 19.7 x | 21.5 x | 37.3 x | -41.9 x | - | 23.3 x | 22.8 x | 15.3 x |
| FCF Yield | 5.07% | 4.66% | 2.68% | -2.39% | - | 4.29% | 4.39% | 6.54% |
| Price to Book | 3.48 x | 2.63 x | 2.42 x | 1.72 x | - | 1.42 x | 1.33 x | 1.25 x |
| Nbr of stocks (in thousands) | 2,224,013 | 2,314,013 | 2,314,013 | 2,314,013 | 2,314,013 | 2,314,013 | - | - |
| Reference price 2 | 42.80 | 41.25 | 44.05 | 29.30 | 25.60 | 27.15 | 27.15 | 27.15 |
| Announcement Date | 3/27/20 | 3/26/21 | 3/18/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 55,835 | 55,864 | 78,175 | 94,338 | 101,272 | 104,781 | 111,898 | 120,440 |
| EBITDA 1 | 10,091 | 10,643 | 13,144 | 11,255 | 11,163 | 13,396 | 14,454 | 15,127 |
| EBIT 1 | 8,169 | 8,524 | 8,712 | 7,895 | 7,102 | 9,599 | 10,498 | 10,903 |
| Operating Margin | 14.63% | 15.26% | 11.14% | 8.37% | 7.01% | 9.16% | 9.38% | 9.05% |
| Earnings before Tax (EBT) 1 | 8,391 | 8,990 | 11,184 | 8,616 | 8,909 | 9,658 | 10,528 | 11,578 |
| Net income 1 | 5,043 | 5,151 | 6,395 | 4,733 | 5,224 | 5,559 | 6,216 | 6,822 |
| Net margin | 9.03% | 9.22% | 8.18% | 5.02% | 5.16% | 5.31% | 5.56% | 5.66% |
| EPS 2 | 2.320 | 2.310 | 2.820 | 2.090 | 2.300 | 2.411 | 2.690 | 2.938 |
| Free Cash Flow 1 | 4,571 | 4,227 | 2,707 | -1,887 | - | 3,295 | 3,415 | 4,750 |
| FCF margin | 8.19% | 7.57% | 3.46% | -2% | - | 3.14% | 3.05% | 3.94% |
| FCF Conversion (EBITDA) | 45.3% | 39.72% | 20.6% | - | - | 24.6% | 23.63% | 31.4% |
| FCF Conversion (Net income) | 90.64% | 82.06% | 42.33% | - | - | 59.28% | 54.94% | 69.63% |
| Dividend per Share 2 | 0.8700 | 0.9300 | 1.270 | 1.050 | 1.157 | 1.219 | 1.366 | 1.470 |
| Announcement Date | 3/27/20 | 3/26/21 | 3/18/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 27,663 | 22,572 | 33,292 | 34,416 | 43,759 | 48,101 | 46,238 | 48,370 | 52,902 |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 3,720 | 3,735 | 4,790 | 5,273 | 4,121 | 4,790 | 3,106 | - | 2,713 |
| Operating Margin | 13.45% | 16.55% | 14.39% | 15.32% | 9.42% | 9.96% | 6.72% | - | 5.13% |
| Earnings before Tax (EBT) 1 | - | - | 5,002 | - | - | 5,147 | - | 5,592 | 3,317 |
| Net income 1 | 2,115 | 2,396 | 2,755 | 3,250 | - | 3,045 | 1,688 | 3,545 | 1,678 |
| Net margin | 7.65% | 10.62% | 8.27% | 9.44% | - | 6.33% | 3.65% | 7.33% | 3.17% |
| EPS 2 | - | - | - | 1.430 | - | - | - | - | 0.7400 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | 1.007 |
| Announcement Date | 3/27/20 | 8/25/20 | 3/26/21 | 8/20/21 | 3/18/22 | 8/26/22 | 3/31/23 | 8/25/23 | 3/28/24 |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 11,279 | 12,745 | 14,003 | 15,036 | 9,796 |
| Net Cash position 1 | 5,013 | 4,741 | 1,068 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | 1.002 x | 1.142 x | 1.045 x | 1.04 x | 0.6476 x |
| Free Cash Flow 1 | 4,571 | 4,227 | 2,707 | -1,887 | - | 3,295 | 3,415 | 4,750 |
| ROE (net income / shareholders' equity) | 19.8% | 16.3% | 16.5% | 11.7% | 13% | 12.3% | 12.6% | 12.8% |
| ROA (Net income/ Total Assets) | 6.52% | 5.86% | 6.4% | 4.34% | 4.18% | 4.22% | 4.43% | 4.61% |
| Assets 1 | 77,298 | 87,848 | 100,004 | 109,093 | 125,089 | 131,761 | 140,450 | 147,843 |
| Book Value Per Share 2 | 12.30 | 15.70 | 18.20 | 17.00 | - | 19.10 | 20.40 | 21.70 |
| Cash Flow per Share 2 | 3.900 | 3.860 | 3.700 | 1.920 | 4.480 | 4.620 | 5.110 | 5.500 |
| Capex 1 | 3,920 | 4,389 | 5,683 | 6,239 | - | 6,763 | 7,220 | 7,149 |
| Capex / Sales | 7.02% | 7.86% | 7.27% | 6.61% | - | 6.45% | 6.45% | 5.94% |
| Announcement Date | 3/27/20 | 3/26/21 | 3/18/22 | 3/31/23 | 3/28/24 | - | - | - |
1HKD in Million2HKD
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
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
22
Last Close Price
27.15
HKD
Average target price
28.43
HKD
Spread / Average Target
+4.73%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +4.88% | 8.03B | |
| +2.84% | 14.48B | |
| +26.26% | 10.31B | |
| +11.93% | 8.99B | |
| +8.15% | 7.74B | |
| +33.95% | 6.04B | |
| +22.48% | 5.56B | |
| +3.50% | 5.34B | |
| -32.79% | 5.2B | |
| -2.35% | 4.93B |
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