CHONGQING CHANGAN AUTOMOBILE COMPANY LIMITED Financials Chongqing Changan Automobile Company Limited
Equities
000625
CNE000000R36
Auto & Truck Manufacturers
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 14.98 CNY | +3.60% |
|
+1.77% | -10.99% |
| Apr. 29 | Chongqing Changan Automobile Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 25 | Toyota pilots EV pickup trucks in key Thai market | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 42,913 | 103,661 | 101,236 | 107,273 | 145,806 | 129,979 | - | - |
| Enterprise Value (EV) 1 | 33,132 | 73,293 | 50,413 | 55,693 | 82,117 | 63,565 | 48,325 | 32,633 |
| P/E ratio | -18.2 x | 32.2 x | 33 x | 15.8 x | 14.9 x | 16.9 x | 14.6 x | 13.4 x |
| Yield | - | 1.4% | 1.53% | 1.92% | 2.04% | 1.48% | 1.67% | 1.74% |
| Capitalization / Revenue | 0.61 x | 1.23 x | 0.96 x | 0.88 x | 0.96 x | 0.68 x | 0.57 x | 0.53 x |
| EV / Revenue | 0.47 x | 0.87 x | 0.48 x | 0.46 x | 0.54 x | 0.33 x | 0.21 x | 0.13 x |
| EV / EBITDA | 17.1 x | 10.5 x | 6.52 x | 4.83 x | 5.22 x | 5.41 x | 3.25 x | 1.86 x |
| EV / FCF | -40 x | 8.81 x | 2.4 x | 11.4 x | 4.74 x | 2.1 x | 2.42 x | 1.32 x |
| FCF Yield | -2.5% | 11.3% | 41.7% | 8.75% | 21.1% | 47.5% | 41.3% | 75.5% |
| Price to Book | 1.09 x | 2.2 x | 2.08 x | 1.94 x | 2.32 x | 1.91 x | 1.75 x | 1.62 x |
| Nbr of stocks (in thousands) | 8,740,820 | 9,761,381 | 9,921,799 | 9,921,799 | 9,917,289 | 9,917,289 | - | - |
| Reference price 2 | 5.511 | 12.02 | 11.68 | 12.31 | 16.83 | 14.98 | 14.98 | 14.98 |
| Announcement Date | 4/14/20 | 4/9/21 | 4/27/22 | 4/17/23 | 4/17/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 70,595 | 84,566 | 105,142 | 121,253 | 151,298 | 191,334 | 227,655 | 245,268 |
| EBITDA 1 | 1,941 | 7,000 | 7,731 | 11,520 | 15,743 | 11,746 | 14,854 | 17,528 |
| EBIT 1 | -2,107 | 2,624 | 3,731 | 7,634 | 10,447 | 8,215 | 11,170 | 13,502 |
| Operating Margin | -2.98% | 3.1% | 3.55% | 6.3% | 6.91% | 4.29% | 4.91% | 5.51% |
| Earnings before Tax (EBT) 1 | -2,242 | 2,597 | 3,821 | 7,708 | 10,589 | 7,005 | 10,636 | 12,871 |
| Net income 1 | -2,647 | 3,324 | 3,552 | 7,798 | 11,327 | 7,832 | 10,243 | 10,880 |
| Net margin | -3.75% | 3.93% | 3.38% | 6.43% | 7.49% | 4.09% | 4.5% | 4.44% |
| EPS 2 | -0.3022 | 0.3736 | 0.3538 | 0.7799 | 1.130 | 0.8870 | 1.023 | 1.120 |
| Free Cash Flow 1 | -829.1 | 8,316 | 21,047 | 4,871 | 17,333 | 30,216 | 19,972 | 24,651 |
| FCF margin | -1.17% | 9.83% | 20.02% | 4.02% | 11.46% | 15.79% | 8.77% | 10.05% |
| FCF Conversion (EBITDA) | - | 118.79% | 272.25% | 42.28% | 110.1% | 257.25% | 134.46% | 140.64% |
| FCF Conversion (Net income) | - | 250.15% | 592.46% | 62.46% | 153.02% | 385.81% | 194.97% | 226.58% |
| Dividend per Share 2 | - | 0.1681 | 0.1792 | 0.2360 | 0.3430 | 0.2220 | 0.2502 | 0.2607 |
| Announcement Date | 4/14/20 | 4/9/21 | 4/27/22 | 4/17/23 | 4/17/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 32,782 | 25,942 | - | 21,998 | 28,778 | 35,901 | 34,556 | 30,936 | - | 42,714 | 43,091 | 37,023 | 37,195 | 40,874 | 68,339 | - | - |
| EBITDA | - | - | - | 1,653 | 2,056 | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 573.5 | - | 1,167 | 932.9 | 1,015 | - | - | - | 1,921 | - | 798.2 | - | - | - | - | - |
| Operating Margin | - | 2.21% | - | 5.3% | 3.24% | 2.83% | - | - | - | 4.5% | - | 2.16% | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | 631.2 | - | 1,207 | 934.9 | 1,038 | - | - | - | 1,924 | 1,522 | 813 | 134.2 | 1,889 | 4,770 | - | - |
| Net income 1 | 2,602 | 560.2 | - | 1,321 | 1,042 | 898.5 | 6,970 | 682.8 | 7,653 | 2,229 | 1,445 | 1,158 | -954.5 | 2,256 | 3,157 | - | - |
| Net margin | 7.94% | 2.16% | - | 6.01% | 3.62% | 2.5% | 20.17% | 2.21% | - | 5.22% | 3.35% | 3.13% | -2.57% | 5.52% | 4.62% | - | - |
| EPS 2 | - | 0.0538 | 0.4538 | 0.1362 | 0.1000 | 0.0900 | 0.7000 | 0.0600 | - | 0.2300 | 0.1400 | 0.1200 | -0.0962 | 0.2274 | 0.3182 | - | - |
| Dividend per Share 2 | - | 0.1792 | - | - | - | 0.2360 | - | - | - | - | - | - | - | - | 0.1425 | - | - |
| Announcement Date | 8/30/20 | 4/27/22 | 4/28/22 | 8/30/22 | 10/30/22 | 4/17/23 | 4/27/23 | 8/30/23 | 8/30/23 | 10/30/23 | 4/17/24 | 4/29/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 9,781 | 30,368 | 50,823 | 51,580 | 63,689 | 66,414 | 81,654 | 97,346 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -829 | 8,316 | 21,047 | 4,871 | 17,333 | 30,216 | 19,972 | 24,651 |
| ROE (net income / shareholders' equity) | -5.86% | 7.13% | 6.53% | 13.1% | 16.6% | 10.2% | 12% | 11.8% |
| ROA (Net income/ Total Assets) | -2.77% | 3.04% | 2.8% | 5.54% | - | 3.93% | 4.71% | 4.27% |
| Assets 1 | 95,549 | 109,278 | 126,828 | 140,726 | - | 199,397 | 217,357 | 254,598 |
| Book Value Per Share 2 | 5.040 | 5.470 | 5.620 | 6.340 | 7.250 | 7.840 | 8.570 | 9.230 |
| Cash Flow per Share 2 | 0.4400 | 1.090 | 2.320 | 0.5700 | 2.000 | 1.570 | 2.170 | 1.980 |
| Capex 1 | 4,711 | 2,360 | 1,925 | 1,405 | 2,528 | 8,187 | 5,350 | 5,517 |
| Capex / Sales | 6.67% | 2.79% | 1.83% | 1.16% | 1.67% | 4.28% | 2.35% | 2.25% |
| Announcement Date | 4/14/20 | 4/9/21 | 4/27/22 | 4/17/23 | 4/17/24 | - | - | - |
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
BUY
Number of Analysts
20
Last Close Price
14.98
CNY
Average target price
19.31
CNY
Spread / Average Target
+28.90%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -10.99% | 17.4B | |
| +4.01% | 89.45B | |
| +2.13% | 83.49B | |
| +20.03% | 72.2B | |
| +21.75% | 46.58B | |
| +16.00% | 33.8B | |
| +7.54% | 23.14B | |
| +51.45% | 12.48B | |
| -12.67% | 10.26B | |
| +101.89% | 8.41B |
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