Financials Huaneng Power International, Inc.

Equities

902

CNE1000006Z4

Independent Power Producers

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
4.9 HKD -2.00% Intraday chart for Huaneng Power International, Inc. -1.41% +18.36%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 77,900 60,443 126,540 98,880 102,481 124,918 - -
Enterprise Value (EV) 1 297,521 279,571 393,600 376,961 367,517 401,790 468,432 467,753
P/E ratio 352 x 59.5 x -5.24 x -5.01 x - 6.64 x 5.6 x 4.77 x
Yield 3.83% 7.56% - - - 7.14% 8.22% 9.58%
Capitalization / Revenue 0.45 x 0.36 x 0.62 x 0.4 x 0.4 x 0.48 x 0.48 x 0.47 x
EV / Revenue 1.71 x 1.65 x 1.92 x 1.53 x 1.44 x 1.55 x 1.8 x 1.76 x
EV / EBITDA 11.8 x 9.17 x 60.1 x 29.1 x 9.69 x 7.08 x 7.67 x 7 x
EV / FCF 47.3 x -453 x -10.7 x -48.6 x -26.8 x -19.8 x 58.7 x 30.2 x
FCF Yield 2.12% -0.22% -9.38% -2.06% -3.73% -5.06% 1.7% 3.31%
Price to Book 0.56 x 0.31 x 0.63 x 0.44 x - 0.49 x 0.56 x 0.5 x
Nbr of stocks (in thousands) 15,698,093 15,698,093 15,698,093 15,698,093 15,698,093 15,698,093 - -
Reference price 2 3.521 2.382 4.245 3.259 3.763 4.536 4.536 4.536
Announcement Date 3/31/20 3/23/21 3/22/22 3/21/23 3/19/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 173,485 169,439 204,605 246,725 254,397 258,422 260,299 265,757
EBITDA 1 25,139 30,480 6,549 12,937 37,936 56,753 61,041 66,828
EBIT 1 4,639 9,628 -14,802 -10,411 13,246 25,085 28,836 33,737
Operating Margin 2.67% 5.68% -7.23% -4.22% 5.21% 9.71% 11.08% 12.69%
Earnings before Tax (EBT) 1 4,813 8,814 -14,277 -9,703 13,002 19,224 21,262 24,600
Net income 1 1,686 4,565 -10,264 -7,387 8,446 12,916 13,749 15,946
Net margin 0.97% 2.69% -5.02% -2.99% 3.32% 5% 5.28% 6%
EPS 2 0.0100 0.0400 -0.8100 -0.6500 - 0.6826 0.8100 0.9518
Free Cash Flow 1 6,293 -617.6 -36,937 -7,758 -13,721 -20,335 7,978 15,478
FCF margin 3.63% -0.36% -18.05% -3.14% -5.39% -7.87% 3.07% 5.82%
FCF Conversion (EBITDA) 25.03% - - - - - 13.07% 23.16%
FCF Conversion (Net income) 373.15% - - - - - 58.03% 97.07%
Dividend per Share 2 0.1350 0.1800 - - - 0.3238 0.3729 0.4347
Announcement Date 3/31/20 3/23/21 3/22/22 3/21/23 3/19/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 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 90,406 - - - - 116,869 - - - - - 65,289 63,075 65,367 62,289 66,929 64,659 68,256 63,543
EBITDA 13,074 - - - - - - - - - - - - - - - - - -
EBIT 1,901 - - - - -346 - - - - - - - - - - - - -
Operating Margin 2.1% - - - - -0.3% - - - - - - - - - - - - -
Earnings before Tax (EBT) -2,622 - - - - - - - - - - - - - - - - - -
Net income -2,675 5,733 - -956.3 - - - - 2,250 4,058 6,308 6,255 - - - - - - -
Net margin -2.96% - - - - - - - - - - 9.58% - - - - - - -
EPS 2 - - -0.7600 -0.0900 -0.1500 - -0.0900 -0.3000 - - - - - 0.2500 0.4900 0.7500 -0.8600 0.2900 0.5300
Dividend per Share - - - - - - - - - - - - - - - - - - -
Announcement Date 3/31/20 8/18/20 3/22/22 4/26/22 7/26/22 7/26/22 10/25/22 3/21/23 4/25/23 7/25/23 7/25/23 10/24/23 3/19/24 4/23/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 233,012 219,128 267,060 278,081 265,036 301,435 342,176 342,515
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.805 x 7.189 x 40.78 x 21.49 x 6.986 x 5.311 x 5.606 x 5.125 x
Free Cash Flow 1 5,293 -618 -36,937 -7,758 -13,721 -20,335 7,979 15,478
ROE (net income / shareholders' equity) 2.17% 3.81% -9.05% -18.5% 11.3% 9.81% 10.5% 11%
ROA (Net income/ Total Assets) 2.87% 1.07% -1.24% -1.58% 1.59% 2.22% 2.23% 2.35%
Assets 1 26,702 426,635 827,771 466,300 531,268 581,233 617,458 678,911
Book Value Per Share 2 6.280 7.760 6.700 7.370 - 9.170 8.040 9.140
Cash Flow per Share 2 - 2.680 -2.390 2.070 - 3.190 3.290 3.620
Capex 1 31,496 42,213 42,969 40,278 59,218 73,543 65,782 49,690
Capex / Sales 18.1% 24.91% 21% 16.32% 23.28% 28.46% 25.27% 18.7%
Announcement Date 3/31/20 3/23/21 3/22/22 3/21/23 3/19/24 - - -
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
4.536 CNY
Average target price
5.217 CNY
Spread / Average Target
+15.02%
Consensus
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  4. Financials Huaneng Power International, Inc.