Financials Meitu, Inc.

Equities

1357

KYG5966D1051

Advertising & Marketing

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
3.3 HKD +6.11% Intraday chart for Meitu, Inc. +13.01% -8.33%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 8,071 6,285 5,229 5,497 5,375 13,852 13,852 -
Enterprise Value (EV) 1 8,071 6,285 5,229 5,497 5,375 14,651 13,852 13,852
P/E ratio -6.41 x -16.3 x - -126 x 60.5 x 40.9 x 27.8 x 18.5 x
Yield - - - - - - - -
Capitalization / Revenue 2.89 x 6.43 x 4.38 x - - 5.43 x 3.86 x 3.07 x
EV / Revenue 2.89 x 6.43 x 4.38 x - - 5.43 x 3.86 x 3.07 x
EV / EBITDA -8.35 x -20.9 x - - - 42.8 x 18.7 x 13.6 x
EV / FCF - - - - - 40.6 x -94.9 x 48.3 x
FCF Yield - - - - - 2.47% -1.05% 2.07%
Price to Book 2.11 x 1.7 x - - - 3.57 x 2.76 x 2.31 x
Nbr of stocks (in thousands) 4,197,264 4,288,466 4,314,493 4,352,403 4,442,705 4,534,756 4,534,756 -
Reference price 2 1.923 1.466 1.212 1.263 1.210 3.055 3.055 3.055
Announcement Date 3/20/19 3/26/20 3/25/21 3/30/22 4/26/23 3/15/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 2,790 977.9 1,194 - - 2,696 3,591 4,517
EBITDA 1 -967.1 -301.2 - - - 342.1 741.5 1,022
EBIT 1 -1,052 -379.5 -70.22 - - 291.3 555.3 885
Operating Margin -37.72% -38.81% -5.88% - - 10.81% 15.47% 19.59%
Earnings before Tax (EBT) 1 -1,016 -335.1 -36.1 - - 438.1 594.9 939
Net income 1 -1,255 -396.5 -40.97 -44.51 94.14 378.3 493.9 758.8
Net margin -44.97% -40.55% -3.43% - - 14.03% 13.76% 16.8%
EPS 2 -0.3000 -0.0900 - -0.0100 0.0200 0.0800 0.1100 0.1650
Free Cash Flow 1 - - - - - 361.2 -146 287
FCF margin - - - - - 13.4% -4.07% 6.35%
FCF Conversion (EBITDA) - - - - - 105.59% - 28.09%
FCF Conversion (Net income) - - - - - 95.49% - 37.82%
Dividend per Share - - - - - - - -
Announcement Date 3/20/19 3/26/20 3/25/21 3/30/22 4/26/23 3/15/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 - 1,435 1,684 1,928
EBITDA - - - -
EBIT 1 - 197.2 224 321
Operating Margin - 13.75% 13.3% 16.65%
Earnings before Tax (EBT) - - - -
Net income 1 227.6 150.7 196 279
Net margin - 10.5% 11.64% 14.47%
EPS 0.0500 - - -
Dividend per Share - - - -
Announcement Date 8/28/23 3/15/24 - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - - - 361 -146 287
ROE (net income / shareholders' equity) -26.5% -10.6% - - - 9.6% 10.8% 13.7%
ROA (Net income/ Total Assets) -21.1% - - - - 7.02% 8.47% 10.4%
Assets 1 5,945 - - - - 5,386 5,834 7,312
Book Value Per Share 2 0.9100 0.8600 - - - 0.9200 1.110 1.320
Cash Flow per Share 2 -0.4700 - - - - 0.0900 0.1800 0.2000
Capex 1 160 - 352 - - 52 310 267
Capex / Sales 5.74% - 29.44% - - 1.93% 8.64% 5.91%
Announcement Date 3/20/19 3/26/20 3/25/21 3/30/22 4/26/23 3/15/24 - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
3.055 CNY
Average target price
4.484 CNY
Spread / Average Target
+46.79%
Consensus

Quarterly revenue - Rate of surprise

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