IRAY TECHNOLOGY COMPANY LIMITED Financials iRay Technology Company Limited
Equities
688301
CNE1000042V8
Advanced Medical Equipment & Technology
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 219.2 CNY | +3.52% |
|
+10.33% | -32.60% |
Valuation
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 12,456 | 36,049 | 33,284 | 33,157 | 22,341 | - | - |
| Enterprise Value (EV) 1 | 12,456 | 36,049 | 31,900 | 33,258 | 19,102 | 19,703 | 20,262 |
| P/E ratio | 45.5 x | 74.5 x | 52 x | 56.6 x | 25.1 x | 20.1 x | 18.4 x |
| Yield | - | 0.44% | 0.63% | 0.61% | 1.19% | 1.44% | 1.82% |
| Capitalization / Revenue | 15.9 x | 30.4 x | 21.5 x | 17.8 x | 9.31 x | 7.55 x | 6.71 x |
| EV / Revenue | 15.9 x | 30.4 x | 20.6 x | 17.8 x | 7.96 x | 6.66 x | 6.09 x |
| EV / EBITDA | 44.9 x | 61.7 x | 43.1 x | 45.4 x | 18.3 x | 14.9 x | 11.8 x |
| EV / FCF | - | 640 x | -79.6 x | -22 x | -52.9 x | 44 x | 11.7 x |
| FCF Yield | - | 0.16% | -1.26% | -4.54% | -1.89% | 2.27% | 8.57% |
| Price to Book | 4.73 x | 11.8 x | 9.19 x | 8.14 x | 4.34 x | 3.69 x | 3.37 x |
| Nbr of stocks (in thousands) | 101,567 | 101,567 | 101,768 | 101,941 | 101,906 | - | - |
| Reference price 2 | 122.6 | 354.9 | 327.1 | 325.3 | 219.2 | 219.2 | 219.2 |
| Announcement Date | 2/23/21 | 2/24/22 | 2/23/23 | 4/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 784.1 | 1,187 | 1,549 | 1,864 | 2,399 | 2,960 | 3,329 |
| EBITDA 1 | 277.7 | 584 | 739.9 | 732.7 | 1,046 | 1,323 | 1,718 |
| EBIT 1 | 246.4 | 549.9 | 708.7 | 683.6 | 939.8 | 1,191 | 1,332 |
| Operating Margin | 31.42% | 46.31% | 45.75% | 36.68% | 39.18% | 40.24% | 39.99% |
| Earnings before Tax (EBT) 1 | 254.6 | 559.9 | 708.7 | 685 | 994 | 1,236 | 1,380 |
| Net income 1 | 225.3 | 484 | 641.3 | 607.5 | 887 | 1,103 | 1,214 |
| Net margin | 28.73% | 40.77% | 41.4% | 32.59% | 36.98% | 37.27% | 36.45% |
| EPS 2 | 2.693 | 4.764 | 6.293 | 5.750 | 8.750 | 10.88 | 11.90 |
| Free Cash Flow 1 | - | 56.36 | -400.7 | -1,510 | -361 | 448 | 1,736 |
| FCF margin | - | 4.75% | -25.87% | -81.04% | -15.05% | 15.14% | 52.14% |
| FCF Conversion (EBITDA) | - | 9.65% | - | - | - | 33.87% | 101.08% |
| FCF Conversion (Net income) | - | 11.64% | - | - | - | 40.61% | 143.06% |
| Dividend per Share 2 | - | 1.571 | 2.071 | 2.000 | 2.607 | 3.157 | 3.980 |
| Announcement Date | 2/23/21 | 2/24/22 | 2/23/23 | 4/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 S1 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | 363.6 | 631.7 | - | 445.2 | 828.5 | - | - | - | - | 466.9 | 490.9 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 191 | 316.2 | - | 146.8 | 413.3 | - | - | - | - | 204.1 | - | - | - | - |
| Operating Margin | - | 52.53% | 50.05% | - | 32.98% | 49.89% | - | - | - | - | 43.72% | - | - | - | - |
| Earnings before Tax (EBT) | - | 193.8 | 324.4 | - | 146.7 | 413.2 | - | 216.2 | 364.9 | - | 204.5 | 154.2 | - | - | - |
| Net income | 209.8 | 158.2 | 274.3 | 276.4 | 133.3 | 364.9 | - | 187.9 | 324.6 | - | 174.6 | 139.3 | - | - | - |
| Net margin | - | 43.51% | 43.42% | - | 29.95% | 44.04% | - | - | - | - | 37.39% | 28.37% | - | - | - |
| EPS 1 | 2.064 | 1.557 | 2.700 | 2.721 | 1.293 | 3.571 | 1.620 | 1.560 | - | 1.060 | 1.500 | 1.300 | 1.990 | 1.640 | 2.650 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/4/21 | 2/24/22 | 2/24/22 | 8/28/22 | 2/23/23 | 2/23/23 | 4/26/23 | 8/28/23 | 8/28/23 | 10/14/23 | 4/19/24 | 4/29/24 | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 101 | - | - | - |
| Net Cash position 1 | - | - | 1,384 | - | 3,238 | 2,638 | 2,079 |
| Leverage (Debt/EBITDA) | - | - | - | 0.1375 x | - | - | - |
| Free Cash Flow 1 | - | 56.4 | -401 | -1,510 | -361 | 448 | 1,736 |
| ROE (net income / shareholders' equity) | 21.8% | 17% | 19.3% | 15% | 17.7% | 18.6% | 18.3% |
| ROA (Net income/ Total Assets) | - | 15% | 13.7% | 8.3% | 11.1% | 12.4% | 11.6% |
| Assets 1 | - | 3,228 | 4,678 | 7,315 | 8,009 | 8,932 | 10,461 |
| Book Value Per Share 2 | 25.90 | 30.00 | 35.60 | 40.00 | 50.50 | 59.50 | 65.10 |
| Cash Flow per Share 2 | 2.580 | 2.440 | 3.110 | 3.340 | 6.430 | 13.90 | 9.980 |
| Capex 1 | - | 192 | 717 | 1,851 | 444 | 437 | 356 |
| Capex / Sales | - | 16.14% | 46.31% | 99.3% | 18.49% | 14.76% | 10.7% |
| Announcement Date | 2/23/21 | 2/24/22 | 2/23/23 | 4/19/24 | - | - | - |
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-
Sell
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
219.2
CNY
Average target price
297.6
CNY
Spread / Average Target
+35.75%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -32.60% | 2.99B | |
| -4.55% | 14.75B | |
| -13.15% | 2.44B | |
| -8.90% | 1.49B | |
| -.--% | 1.12B | |
| +57.54% | 549M | |
| +13.87% | 246M | |
| -1.41% | 224M | |
| +4.26% | 188M | |
| -.--% | 179M |
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