Financials NARI Technology Co., Ltd.

Equities

600406

CNE000001G38

IT Services & Consulting

End-of-day quote Shanghai S.E. 06:00:00 2024-05-06 pm EDT 5-day change 1st Jan Change
23.23 CNY +0.39% Intraday chart for NARI Technology Co., Ltd. -1.32% +4.08%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 97,896 122,799 221,984 163,354 179,297 186,603 - -
Enterprise Value (EV) 1 91,686 113,049 210,828 149,926 163,106 166,543 163,810 162,798
P/E ratio 22.5 x 25.1 x 39.2 x 25.2 x 24.8 x 22.7 x 19.9 x 17.8 x
Yield 1.37% 1.58% 1.02% 1.6% 2.42% 2.23% 2.54% 3.19%
Capitalization / Revenue 3.02 x 3.19 x 5.23 x 3.49 x 3.48 x 3.23 x 2.85 x 2.63 x
EV / Revenue 2.83 x 2.94 x 4.97 x 3.2 x 3.16 x 2.88 x 2.5 x 2.3 x
EV / EBITDA 15.2 x 16.1 x 25.9 x 16.2 x 15.9 x 15.7 x 13.5 x 11.5 x
EV / FCF 52.1 x - 79.2 x 28 x 17.2 x 26.7 x 24.6 x 19.5 x
FCF Yield 1.92% - 1.26% 3.57% 5.82% 3.74% 4.06% 5.13%
Price to Book 3.21 x 3.6 x 5.84 x 3.85 x 3.8 x 3.6 x 3.21 x 2.93 x
Nbr of stocks (in thousands) 7,987,015 7,986,359 7,985,429 8,033,819 8,033,033 8,032,824 - -
Reference price 2 12.26 15.38 27.80 20.33 22.32 23.23 23.23 23.23
Announcement Date 4/29/20 4/22/21 4/28/22 4/27/23 4/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 32,424 38,502 42,411 46,829 51,573 57,776 65,405 70,905
EBITDA 1 6,041 7,009 8,136 9,230 10,242 10,599 12,121 14,113
EBIT 1 5,253 5,874 6,843 7,852 8,575 9,409 10,800 12,099
Operating Margin 16.2% 15.26% 16.14% 16.77% 16.63% 16.28% 16.51% 17.06%
Earnings before Tax (EBT) 1 5,280 5,934 6,866 7,885 8,600 9,834 11,250 12,570
Net income 1 4,343 4,852 5,642 6,446 7,184 8,210 9,377 10,486
Net margin 13.39% 12.6% 13.3% 13.77% 13.93% 14.21% 14.34% 14.79%
EPS 2 0.5440 0.6134 0.7083 0.8083 0.9000 1.023 1.169 1.306
Free Cash Flow 1 1,760 - 2,662 5,346 9,495 6,236 6,654 8,359
FCF margin 5.43% - 6.28% 11.42% 18.41% 10.79% 10.17% 11.79%
FCF Conversion (EBITDA) 29.13% - 32.71% 57.92% 92.7% 58.84% 54.89% 59.23%
FCF Conversion (Net income) 40.51% - 47.17% 82.94% 132.17% 75.96% 70.96% 79.72%
Dividend per Share 2 0.1678 0.2431 0.2847 0.3250 0.5400 0.5169 0.5892 0.7412
Announcement Date 4/29/20 4/22/21 4/28/22 4/27/23 4/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 19,179 - - 16,323 9,294 21,213 - 6,195 12,055 10,317 23,006 7,699 13,452 11,830 27,002 - -
EBITDA - - - - - - - - - - - - - - - - -
EBIT 2,892 - - - 1,898 3,286 - 627.2 2,421 2,040 3,486 - - - - - -
Operating Margin 15.08% - - - 20.43% 15.49% - 10.12% 20.08% 19.77% 15.15% - - - - - -
Earnings before Tax (EBT) 2,899 - - - - 3,286 - - 2,424 2,041 3,494 - - - - - -
Net income 2,450 379.1 - - - 2,791 4,336 525.7 1,974 1,661 3,023 - - - - - -
Net margin 12.77% - - - - 13.16% - 8.49% 16.37% 16.1% 13.14% - - - - - -
EPS 2 0.3125 0.0486 0.2083 - 0.1917 0.3500 - 0.0667 0.2433 0.2100 0.3800 0.0700 0.2550 0.2350 0.4300 - -
Dividend per Share 2 0.2847 - - - - 0.3250 - - - - - - - - 0.4353 - -
Announcement Date 4/28/22 4/28/22 8/30/22 8/30/22 10/28/22 4/27/23 4/27/23 4/27/23 8/30/23 10/30/23 4/25/24 4/25/24 - - - - -
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 6,210 9,750 11,156 13,428 16,192 20,060 22,792 23,805
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,760 - 2,662 5,346 9,495 6,236 6,654 8,359
ROE (net income / shareholders' equity) 14.8% 15.1% 15.7% 16.1% 16.1% 16.1% 16.7% 17.1%
ROA (Net income/ Total Assets) 7.91% 7.86% 8.14% 8.63% - 8.99% 9.25% 9.47%
Assets 1 54,885 61,693 69,347 74,699 - 91,330 101,370 110,754
Book Value Per Share 2 3.820 4.280 4.760 5.290 5.870 6.450 7.230 7.940
Cash Flow per Share 2 0.5900 0.7100 0.5800 1.090 1.420 1.180 1.290 1.670
Capex 1 2,925 3,462 2,009 3,414 1,949 1,912 2,259 2,260
Capex / Sales 9.02% 8.99% 4.74% 7.29% 3.78% 3.31% 3.45% 3.19%
Announcement Date 4/29/20 4/22/21 4/28/22 4/27/23 4/25/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
23.23 CNY
Average target price
27.29 CNY
Spread / Average Target
+17.46%
Consensus
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  4. Financials NARI Technology Co., Ltd.
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