BRIGHT DAIRY & FOOD CO.,LTD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 9.01 CNY | -0.44% |
|
-0.22% | +3.21% |
| Apr. 28 | Bright Dairy & Food Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Feb. 07 | Modern Dairy, Bright Dairy See Minimal Impact from Extreme Weather | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 15,539 | 19,910 | 20,018 | 14,834 | 12,034 | 12,420 | - | - |
| Enterprise Value (EV) 1 | 16,001 | 19,906 | 19,479 | 15,412 | 12,034 | 12,420 | 12,420 | 12,420 |
| P/E ratio | 31 x | 32.5 x | 30.3 x | 41.4 x | 12.5 x | 21.7 x | 20.2 x | 19 x |
| Yield | 1.02% | 0.98% | 1.1% | 0.74% | 2.52% | 1.39% | 11.9% | 1.55% |
| Capitalization / Revenue | 0.69 x | 0.79 x | 0.69 x | 0.53 x | 0.45 x | 0.46 x | 0.42 x | 0.42 x |
| EV / Revenue | 0.69 x | 0.79 x | 0.69 x | 0.53 x | 0.45 x | 0.46 x | 0.42 x | 0.42 x |
| EV / EBITDA | 7.96 x | 9.31 x | 14.2 x | 9.6 x | 5.82 x | 5.47 x | 5.34 x | 5.23 x |
| EV / FCF | 23,360,297 x | 34,761,792 x | 189,362,329 x | -33,695,883 x | - | - | - | - |
| FCF Yield | 0% | 0% | 0% | -0% | - | - | - | - |
| Price to Book | 2.72 x | 3.17 x | 2.55 x | 1.85 x | 1.35 x | 1.51 x | 1.4 x | 1.23 x |
| Nbr of stocks (in thousands) | 1,224,488 | 1,224,488 | 1,378,641 | 1,378,641 | 1,378,474 | 1,378,474 | - | - |
| Reference price 2 | 12.69 | 16.26 | 14.52 | 10.76 | 8.730 | 9.010 | 9.010 | 9.010 |
| Announcement Date | 4/20/20 | 3/29/21 | 3/28/22 | 3/20/23 | 4/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 22,563 | 25,223 | 29,206 | 28,215 | 26,485 | 27,224 | 29,338 | 29,419 |
| EBITDA 1 | 1,952 | 2,138 | 1,411 | 1,545 | 2,066 | 2,270 | 2,325 | 2,375 |
| EBIT 1 | 1,135 | 1,196 | 656.9 | 541.2 | 891.5 | 808.2 | 859.6 | 897.3 |
| Operating Margin | 5.03% | 4.74% | 2.25% | 1.92% | 3.37% | 2.97% | 2.93% | 3.05% |
| Earnings before Tax (EBT) 1 | 1,074 | 1,157 | 699.9 | 497.9 | 816.4 | 737 | 790.3 | 832.6 |
| Net income 1 | 498.4 | 607.6 | 592.3 | 360.7 | 967.3 | 569 | 612.5 | 651.7 |
| Net margin | 2.21% | 2.41% | 2.03% | 1.28% | 3.65% | 2.09% | 2.09% | 2.22% |
| EPS 2 | 0.4100 | 0.5000 | 0.4800 | 0.2600 | 0.7000 | 0.4150 | 0.4450 | 0.4733 |
| Free Cash Flow | 665.2 | 572.8 | 105.7 | -440.2 | - | - | - | - |
| FCF margin | 2.95% | 2.27% | 0.36% | -1.56% | - | - | - | - |
| FCF Conversion (EBITDA) | 34.07% | 26.8% | 7.49% | - | - | - | - | - |
| FCF Conversion (Net income) | 133.46% | 94.27% | 17.85% | - | - | - | - | - |
| Dividend per Share 2 | 0.1300 | 0.1600 | 0.1600 | 0.0800 | 0.2200 | 0.1250 | 1.070 | 0.1400 |
| Announcement Date | 4/20/20 | 3/29/21 | 3/28/22 | 3/20/23 | 4/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S2 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 7,149 | 7,246 | 7,164 | 6,975 | 6,830 | 13,804 | 7,071 | 7,068 | 6,525 | 5,821 | 6,417 | 7,879 | 7,371 | 7,811 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 558.9 | 292.4 | 221.7 | 263.1 | 4.093 | 52.3 | 56.4 | 287.8 | 211.2 | -135.7 | - | - | - | - | - |
| Operating Margin | - | 4.09% | 3.06% | 3.67% | 0.06% | 0.77% | 0.41% | 4.07% | 2.99% | -2.08% | - | - | - | - | - |
| Earnings before Tax (EBT) | 546.7 | 298.5 | - | - | - | - | 13.23 | - | - | - | - | - | - | - | - |
| Net income | 299.3 | 147.3 | - | - | - | - | 79.22 | - | - | - | - | - | - | - | - |
| Net margin | - | 2.06% | - | - | - | - | 0.57% | - | - | - | - | - | - | - | - |
| EPS | - | 0.1200 | 0.1200 | 0.0800 | 0.0700 | -0.0100 | - | 0.1400 | 0.1100 | -0.0200 | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/29/21 | 3/28/22 | 4/29/22 | 8/29/22 | 10/28/22 | 3/20/23 | 3/20/23 | 4/27/23 | 8/28/23 | 10/27/23 | 4/28/24 | 4/28/24 | - | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | 463 | - | - | 578 | - | - | - | - |
| Net Cash position | - | 4.09 | 539 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.2369 x | - | - | 0.374 x | - | - | - | - |
| Free Cash Flow | 665 | 573 | 106 | -440 | - | - | - | - |
| ROE (net income / shareholders' equity) | 9.03% | 10.2% | 9.35% | 4.57% | 11.4% | 6.52% | 6.67% | 6.39% |
| ROA (Net income/ Total Assets) | 2.8% | 3.2% | 2.72% | 1.51% | - | 2.28% | 2.48% | 2.25% |
| Assets 1 | 17,788 | 18,975 | 21,809 | 23,951 | - | 25,011 | 24,748 | 28,966 |
| Book Value Per Share 2 | 4.670 | 5.130 | 5.700 | 5.800 | 6.470 | 5.950 | 6.450 | 7.330 |
| Cash Flow per Share 2 | 1.970 | 1.760 | 1.670 | 0.4800 | 1.060 | 2.130 | 1.410 | 1.000 |
| Capex 1 | 1,745 | 1,586 | 1,953 | 1,107 | 372 | 1,360 | 1,196 | 1,161 |
| Capex / Sales | 7.73% | 6.29% | 6.69% | 3.92% | 1.4% | 5% | 4.08% | 3.95% |
| Announcement Date | 4/20/20 | 3/29/21 | 3/28/22 | 3/20/23 | 4/28/24 | - | - | - |
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
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
9.01
CNY
Average target price
10.1
CNY
Spread / Average Target
+12.04%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +3.21% | 1.73B | |
| +5.53% | 24.92B | |
| -21.24% | 8.62B | |
| -4.24% | 6.92B | |
| +9.18% | 6.35B | |
| +0.44% | 5.59B | |
| +1.21% | 5.41B | |
| +23.47% | 5.1B | |
| -0.47% | 5.09B | |
| +25.35% | 4.72B |
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