Financials Koal Software Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-14 pm EDT			5-day change	1st Jan Change
12.07 ^CNY	-0.98%		-14.52%	-11.83%

Apr. 26	Koal Software Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 02	Tranche Update on Koal Software Co., Ltd.'s Equity Buyback Plan announced on November 7, 2023.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,942	5,167	3,731	3,522	3,194	2,792	-	-
Enterprise Value (EV) ¹	3,942	5,167	3,731	3,522	3,194	2,792	2,792	2,792
P/E ratio	56.1 x	83.6 x	47.4 x	-380 x	85.6 x	38.9 x	29.4 x	19.5 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	10.6 x	11.6 x	6.11 x	5.34 x	5.69 x	3.95 x	3.13 x	2.46 x
EV / Revenue	10.6 x	11.6 x	6.11 x	5.34 x	5.69 x	3.95 x	3.13 x	2.46 x
EV / EBITDA	42.6 x	55.3 x	29.9 x	141 x	38.7 x	25.2 x	18.7 x	13.3 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	5.94 x	3.89 x	2.67 x	2.58 x	2.28 x	1.93 x	1.83 x	1.69 x
Nbr of stocks (in thousands)	206,641	231,723	231,722	231,722	233,315	231,300	-	-
Reference price ²	19.08	22.30	16.10	15.20	13.69	12.07	12.07	12.07
Announcement Date	4/22/20	4/22/21	4/25/22	4/26/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	370.5	444.8	611.1	659.5	561.3	707.4	892.1	1,133
EBITDA ¹	92.59	93.42	124.7	25.06	82.43	110.9	149.4	210.7
EBIT ¹	66.04	61.39	90.28	-9.686	44.71	89.13	119.8	185
Operating Margin	17.82%	13.8%	14.77%	-1.47%	7.96%	12.6%	13.43%	16.33%
Earnings before Tax (EBT) ¹	79.21	63.99	91.01	-14.44	42.94	87.2	117	182.8
Net income ¹	70.08	57.08	79.71	-8.713	36.97	71.63	94.63	144.9
Net margin	18.91%	12.83%	13.04%	-1.32%	6.59%	10.13%	10.61%	12.79%
EPS ²	0.3404	0.2667	0.3400	-0.0400	0.1600	0.3100	0.4100	0.6200
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	4/22/20	4/22/21	4/25/22	4/26/23	4/26/24	-	-	-

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)	10.8%	6.44%	5.87%	-0.63%	2.65%	4.94%	6.2%	8.76%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	3.210	5.740	6.020	5.900	6.010	6.250	6.600	7.160
Cash Flow per Share ²	0.4000	0.6300	-0.0500	-0.1400	-0.2600	-	-0.2900	0.1000
Capex ¹	-	48.5	101	12.8	51	36.6	44.7	58.6
Capex / Sales	-	10.91%	16.5%	1.95%	9.09%	5.17%	5.01%	5.17%
Announcement Date	4/22/20	4/22/21	4/25/22	4/26/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.07 CNY

Average target price

17.05 CNY

Spread / Average Target

+41.26%

	1st Jan change	Capi.
KOAL SOFTWARE CO., LTD.	-11.83%	390M
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DASSAULT SYSTÈMES SE	-13.71%	54.31B
ATLASSIAN CORPORATION	-22.68%	47.92B
PALANTIR TECHNOLOGIES INC.	+25.42%	47.74B
THE TRADE DESK, INC.	+21.33%	42.15B
SEA LIMITED	+68.59%	38.06B
TAKE-TWO INTERACTIVE SOFTWARE, INC.	-8.92%	24.73B