Financials Flying Technology Co., Ltd.

Equities

603488

CNE100002XC9

Heavy Electrical Equipment

End-of-day quote Shanghai S.E. 06:00:00 2024-05-12 pm EDT 5-day change 1st Jan Change
8.04 CNY -0.74% Intraday chart for Flying Technology Co., Ltd. -5.19% -21.25%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,534 1,837 2,966 2,666 1,915 2,981
Enterprise Value (EV) 1 960.8 1,223 2,368 2,096 1,365 2,488
P/E ratio 20.4 x 21.4 x 28.2 x 36.5 x 46.9 x 36.5 x
Yield 2.73% 3.19% 1.97% 2.19% 3.05% 1.96%
Capitalization / Revenue 4.88 x 4.94 x 7.29 x 5.49 x 3.84 x 5.92 x
EV / Revenue 3.06 x 3.29 x 5.82 x 4.32 x 2.73 x 4.94 x
EV / EBITDA 14 x 14.1 x 24.9 x 27.3 x 17.8 x 34 x
EV / FCF 41.7 x 26.5 x -296 x 143 x 34.2 x 53.3 x
FCF Yield 2.4% 3.78% -0.34% 0.7% 2.92% 1.87%
Price to Book 1.84 x 2.07 x 3.18 x 2.72 x 1.95 x 2.9 x
Nbr of stocks (in thousands) 292,517 292,517 292,517 291,990 291,990 291,990
Reference price 2 5.243 6.279 10.14 9.130 6.560 10.21
Announcement Date 4/16/19 4/16/20 4/26/21 4/28/22 4/26/23 3/27/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 314.5 371.7 407 485.2 499.1 503.4
EBITDA 1 68.53 86.78 95.17 76.65 76.65 73.21
EBIT 1 62.22 80.28 88.25 69.69 68.23 63.85
Operating Margin 19.79% 21.6% 21.68% 14.36% 13.67% 12.68%
Earnings before Tax (EBT) 1 86.69 101.4 120.6 82.06 45.82 94.23
Net income 1 74.01 86.39 103.8 72.04 41.49 81.66
Net margin 23.53% 23.24% 25.51% 14.85% 8.31% 16.22%
EPS 2 0.2571 0.2929 0.3600 0.2500 0.1400 0.2800
Free Cash Flow 1 23.04 46.19 -7.999 14.65 39.9 46.64
FCF margin 7.33% 12.43% -1.97% 3.02% 7.99% 9.26%
FCF Conversion (EBITDA) 33.62% 53.23% - 19.11% 52.05% 63.7%
FCF Conversion (Net income) 31.13% 53.46% - 20.33% 96.16% 57.11%
Dividend per Share 2 0.1429 0.2000 0.2000 0.2000 0.2000 0.2000
Announcement Date 4/16/19 4/16/20 4/26/21 4/28/22 4/26/23 3/27/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 573 614 598 570 551 494
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 23 46.2 -8 14.6 39.9 46.6
ROE (net income / shareholders' equity) 9.05% 10% 11.4% 7.53% 4.23% 8.11%
ROA (Net income/ Total Assets) 4.27% 5.19% 5.29% 3.87% 3.62% 3.31%
Assets 1 1,732 1,664 1,965 1,863 1,146 2,468
Book Value Per Share 2 2.860 3.030 3.190 3.360 3.370 3.530
Cash Flow per Share 2 1.960 1.490 1.140 1.080 1.100 0
Capex 1 12.2 2.98 31.2 42.9 15.6 11.6
Capex / Sales 3.89% 0.8% 7.67% 8.84% 3.13% 2.31%
Announcement Date 4/16/19 4/16/20 4/26/21 4/28/22 4/26/23 3/27/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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