JIANGSU HENGRUI MEDICINE CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 45.61 CNY | +2.96% |
|
+9.43% | +0.84% |
| Apr. 26 | Hengrui Pharma Gets Nod to Trial Insulin Aspart Injection; Shares Up 3% | MT |
| Apr. 17 | Jiangsu Hengrui Medicine Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 385,431 | 591,745 | 323,076 | 245,741 | 287,598 | 290,014 | - | - |
| Enterprise Value (EV) 1 | 380,387 | 580,941 | 309,445 | 231,891 | 266,852 | 266,656 | 262,529 | 258,757 |
| P/E ratio | 72.9 x | 93.7 x | 71.4 x | 63.2 x | 66.5 x | 53.3 x | 44.4 x | 36.4 x |
| Yield | 0.26% | 0.18% | 0.32% | 0.42% | 0.44% | 0.43% | 0.49% | 0.66% |
| Capitalization / Revenue | 16.6 x | 21.3 x | 12.5 x | 11.6 x | 12.6 x | 11 x | 9.71 x | 8.36 x |
| EV / Revenue | 16.3 x | 20.9 x | 11.9 x | 10.9 x | 11.7 x | 10.2 x | 8.79 x | 7.46 x |
| EV / EBITDA | 56 x | 77.6 x | 63.6 x | 49.2 x | 47.1 x | 43.9 x | 36.3 x | 30.1 x |
| EV / FCF | 117 x | 202 x | 120 x | -328 x | 43.2 x | 72.4 x | 49.5 x | 37.7 x |
| FCF Yield | 0.86% | 0.5% | 0.83% | -0.3% | 2.32% | 1.38% | 2.02% | 2.65% |
| Price to Book | 15.6 x | 19.5 x | 9.27 x | 6.5 x | 7.13 x | 6.53 x | 5.75 x | 5.22 x |
| Nbr of stocks (in thousands) | 6,341,638 | 6,370,846 | 6,371,045 | 6,377,915 | 6,358,560 | 6,358,560 | - | - |
| Reference price 2 | 60.78 | 92.88 | 50.71 | 38.53 | 45.23 | 45.61 | 45.61 | 45.61 |
| Announcement Date | 3/22/20 | 4/19/21 | 4/22/22 | 4/21/23 | 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 | 23,289 | 27,735 | 25,906 | 21,275 | 22,820 | 26,261 | 29,865 | 34,697 |
| EBITDA 1 | 6,796 | 7,483 | 4,868 | 4,717 | 5,666 | 6,068 | 7,234 | 8,590 |
| EBIT 1 | 6,150 | 7,007 | 4,665 | 4,112 | 4,910 | 5,643 | 6,906 | 8,464 |
| Operating Margin | 26.41% | 25.26% | 18.01% | 19.33% | 21.52% | 21.49% | 23.12% | 24.39% |
| Earnings before Tax (EBT) 1 | 6,056 | 6,895 | 4,466 | 3,968 | 4,667 | 5,825 | 7,106 | 8,785 |
| Net income 1 | 5,328 | 6,328 | 4,530 | 3,906 | 4,302 | 5,384 | 6,428 | 7,724 |
| Net margin | 22.88% | 22.82% | 17.49% | 18.36% | 18.85% | 20.5% | 21.52% | 22.26% |
| EPS 2 | 0.8333 | 0.9917 | 0.7100 | 0.6100 | 0.6800 | 0.8561 | 1.028 | 1.254 |
| Free Cash Flow 1 | 3,257 | 2,881 | 2,570 | -706.7 | 6,180 | 3,681 | 5,305 | 6,866 |
| FCF margin | 13.98% | 10.39% | 9.92% | -3.32% | 27.08% | 14.02% | 17.76% | 19.79% |
| FCF Conversion (EBITDA) | 47.92% | 38.5% | 52.8% | - | 109.08% | 60.65% | 73.33% | 79.92% |
| FCF Conversion (Net income) | 61.12% | 45.53% | 56.74% | - | 143.64% | 68.36% | 82.53% | 88.88% |
| Dividend per Share 2 | 0.1597 | 0.1667 | 0.1600 | 0.1600 | 0.2000 | 0.1954 | 0.2233 | 0.3030 |
| Announcement Date | 3/22/20 | 4/19/21 | 4/22/22 | 4/21/23 | 4/17/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,309 | - | 5,707 | 5,479 | 4,750 | 10,228 | 5,717 | 5,330 | 11,047 | 5,492 | 5,676 | 11,168 | 5,845 | 5,806 | 5,998 | 6,246 | 12,193 | 6,587 | 6,704 | 6,088 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | - | -408.2 | 1,366 | 1,033 | 2,399 | 1,253 | 460.1 | 1,713 | 1,344 | 1,226 | 2,570 | 1,371 | 968.6 | 1,636 | 1,241 | 2,807 | 1,415 | 1,338 | 1,285 | - |
| Operating Margin | - | - | -7.15% | 24.93% | 21.75% | 23.45% | 21.92% | 8.63% | 15.51% | 24.48% | 21.6% | 23.01% | 23.46% | 16.68% | 27.28% | 19.86% | 23.02% | 21.48% | 19.96% | 21.11% | - |
| Earnings before Tax (EBT) 1 | - | - | -462.5 | - | 986.4 | 2,352 | 1,182 | 434.5 | 1,617 | - | 1,188 | 2,512 | 1,300 | 854.7 | - | 1,435 | 2,952 | 1,583 | 1,573 | - | - |
| Net income 1 | 2,662 | 2,668 | 323 | - | 882.4 | 2,119 | 1,054 | 732.9 | - | - | 1,069 | 2,308 | 1,166 | 828.7 | 1,369 | 1,309 | 2,697 | 1,422 | 1,422 | - | - |
| Net margin | 23.54% | - | 5.66% | - | 18.58% | 20.72% | 18.44% | 13.75% | - | - | 18.84% | 20.67% | 19.94% | 14.27% | 22.82% | 20.95% | 22.12% | 21.58% | 21.21% | - | - |
| EPS 2 | - | - | 0.0500 | 0.1900 | 0.1400 | - | 0.1700 | 0.1100 | - | 0.1900 | 0.1700 | - | 0.1900 | 0.1300 | 0.2100 | 0.2141 | - | 0.2284 | 0.2112 | 0.1900 | - |
| Dividend per Share 2 | - | - | 0.1600 | - | - | - | - | 0.1600 | - | - | - | - | - | - | - | 0.0670 | - | 0.0670 | 0.0670 | 0.0811 | 0.0811 |
| Announcement Date | 7/31/20 | 8/19/21 | 4/22/22 | 4/22/22 | 8/19/22 | 8/19/22 | 10/28/22 | 4/21/23 | 4/21/23 | 4/21/23 | 8/18/23 | 8/18/23 | 10/25/23 | 4/17/24 | 4/17/24 | - | - | - | - | - | - |
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 | 5,044 | 10,805 | 13,631 | 13,850 | 20,746 | 23,358 | 27,485 | 31,257 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 3,257 | 2,881 | 2,570 | -707 | 6,180 | 3,681 | 5,305 | 6,866 |
| ROE (net income / shareholders' equity) | 24% | 22.5% | 14% | 10.9% | 11% | 12.2% | 13.1% | 14.2% |
| ROA (Net income/ Total Assets) | 21.3% | 20.3% | 12.2% | 9.57% | - | 10.7% | 11.6% | 12.9% |
| Assets 1 | 24,959 | 31,144 | 36,996 | 40,811 | - | 50,520 | 55,649 | 60,033 |
| Book Value Per Share 2 | 3.890 | 4.770 | 5.470 | 5.930 | 6.340 | 6.990 | 7.930 | 8.730 |
| Cash Flow per Share 2 | 0.6000 | 0.5400 | 0.6600 | 0.2000 | 1.200 | 0.6600 | 0.9000 | 1.040 |
| Capex 1 | 560 | 551 | 1,649 | 1,972 | 1,464 | 1,464 | 1,398 | 1,593 |
| Capex / Sales | 2.41% | 1.99% | 6.36% | 9.27% | 6.41% | 5.57% | 4.68% | 4.59% |
| Announcement Date | 3/22/20 | 4/19/21 | 4/22/22 | 4/21/23 | 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
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
23
Last Close Price
45.61
CNY
Average target price
57.6
CNY
Spread / Average Target
+26.29%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +0.84% | 40.02B | |
| +25.83% | 661B | |
| +27.00% | 566B | |
| -6.76% | 352B | |
| +20.34% | 332B | |
| +3.00% | 283B | |
| +13.09% | 231B | |
| +5.46% | 200B | |
| -9.61% | 195B | |
| -6.26% | 145B |
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