Financials GoldenHome Living Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-21 pm EDT			5-day change	1st Jan Change
23.84 ^CNY	-1.77%		+5.16%	-4.98%

Apr. 25	GoldenHome Living Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 02	Tranche Update on GoldenHome Living Co., Ltd.'s Equity Buyback Plan announced on January 25, 2024.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,413	4,773	5,859	4,359	3,870	3,645	-	-
Enterprise Value (EV) ¹	4,413	4,773	5,859	4,359	3,870	3,645	3,645	3,645
P/E ratio	18.2 x	16.2 x	16.8 x	15.9 x	14.3 x	10.8 x	9.2 x	8.48 x
Yield	-	-	2.75%	-	2.39%	2.85%	3.36%	3.65%
Capitalization / Revenue	2.08 x	1.81 x	1.7 x	1.23 x	1.06 x	0.88 x	0.77 x	0.7 x
EV / Revenue	2.08 x	1.81 x	1.7 x	1.23 x	1.06 x	0.88 x	0.77 x	0.7 x
EV / EBITDA	13 x	11.9 x	12.8 x	10.5 x	8.83 x	6.95 x	6.11 x	5.55 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.91 x	2.82 x	2.47 x	1.7 x	1.42 x	1.21 x	1.1 x	1 x
Nbr of stocks (in thousands)	129,536	133,772	152,176	152,050	154,257	152,897	-	-
Reference price ²	34.07	35.68	38.50	28.67	25.09	23.84	23.84	23.84
Announcement Date	2/4/20	2/2/21	2/9/22	3/17/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,125	2,640	3,448	3,553	3,645	4,149	4,747	5,228
EBITDA ¹	338.7	402.3	458.2	414.5	438.5	524.7	596.9	656.8
EBIT ¹	273.6	327.3	361.1	289.5	295.3	355.2	416.7	449.8
Operating Margin	12.87%	12.4%	10.47%	8.15%	8.1%	8.56%	8.78%	8.6%
Earnings before Tax (EBT) ¹	275.1	330.8	367.9	293.5	301.3	361.3	422.6	456
Net income ¹	242.5	292.7	338	277	292	340.7	399.4	433.8
Net margin	11.41%	11.09%	9.8%	7.8%	8.01%	8.21%	8.41%	8.3%
EPS ²	1.867	2.200	2.290	1.800	1.760	2.208	2.592	2.812
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	1.060	-	0.6000	0.6800	0.8000	0.8700
Announcement Date	2/4/20	2/2/21	2/9/22	3/17/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	22.9%	21.3%	16.7%	11.2%	10.9%	11.3%	12.1%	11.8%
ROA (Net income/ Total Assets)	-	-	8.45%	-	5.4%	5.22%	5.48%	5.74%
Assets ¹	-	-	4,001	-	5,408	6,527	7,289	7,558
Book Value Per Share ²	8.720	12.60	15.60	16.80	17.70	19.70	21.70	23.80
Cash Flow per Share ²	3.050	4.660	2.610	1.600	4.180	3.470	4.390	4.080
Capex ¹	261	488	416	627	564	273	266	268
Capex / Sales	12.28%	18.49%	12.05%	17.64%	15.47%	6.57%	5.6%	5.12%
Announcement Date	2/4/20	2/2/21	2/9/22	3/17/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

24.27 CNY

Average target price

28.47 CNY

Spread / Average Target

+17.31%

	1st Jan change	Capi.
GOLDENHOME LIVING CO., LTD.	-4.98%	513M
TEMPUR SEALY INTERNATIONAL, INC.	+1.73%	9.12B
JASON FURNITURE (HANGZHOU) CO.,LTD.	+7.14%	4.27B
SUOFEIYA HOME COLLECTION CO., LTD.	+20.00%	2.56B
DE RUCCI HEALTHY SLEEP CO., LTD.	+12.95%	1.94B
LA-Z-BOY INCORPORATED	-3.58%	1.53B
SHEELA FOAM LIMITED	-25.61%	1.21B
MOTOMOTION CHINA CORPORATION	+30.25%	1.19B
XILINMEN FURNITURE CO.,LTD	+25.28%	1.12B
HENGLIN HOME FURNISHINGS CO.,LTD	+7.22%	930M