Stock 603700 NINGBO WATER METER (GROUP) CO., LTD.
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Financials Ningbo Water Meter (Group) Co., LTD.

Equities

603700

CNE100003HR8

Industrial Machinery & Equipment

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
11.39 CNY +0.35% Intraday chart for Ningbo Water Meter (Group) Co., LTD. +5.27% -20.18%
Apr. 26 Ningbo Water Meter Co., LTD. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 15 Ningbo Water Meter Co., LTD. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023
Capitalization 1 3,601 5,929 3,918 2,668 2,859
Enterprise Value (EV) 1 2,747 5,079 3,171 2,327 2,467
P/E ratio 16.6 x 21.8 x 16.7 x 20.9 x 21.6 x
Yield 1.3% 1.37% 4.13% 2.28% 2.1%
Capitalization / Revenue 2.63 x 3.73 x 2.28 x 1.72 x 1.6 x
EV / Revenue 2 x 3.19 x 1.85 x 1.5 x 1.38 x
EV / EBITDA 12 x 16.9 x 12.7 x 21.9 x 14.9 x
EV / FCF 77 x -461 x -61.4 x -9.93 x 52.6 x
FCF Yield 1.3% -0.22% -1.63% -10.1% 1.9%
Price to Book 2.89 x 4.07 x 2.46 x 1.72 x 1.78 x
Nbr of stocks (in thousands) 203,242 203,242 202,162 202,853 200,322
Reference price 2 17.72 29.17 19.38 13.15 14.27
Announcement Date 4/9/20 4/19/21 3/30/22 4/28/23 4/15/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,029 1,371 1,590 1,717 1,555 1,789
EBITDA 1 159.5 228.3 300.5 249 106.4 165.2
EBIT 1 147.7 215.5 286.1 234.9 86.67 133.3
Operating Margin 14.35% 15.72% 17.99% 13.68% 5.57% 7.45%
Earnings before Tax (EBT) 1 159.6 246.2 315.4 266.5 142 146.4
Net income 1 137.2 212.3 273.1 235.4 126.4 131.3
Net margin 13.33% 15.48% 17.17% 13.71% 8.13% 7.34%
EPS 2 0.9000 1.067 1.340 1.160 0.6300 0.6600
Free Cash Flow 1 36.77 35.66 -11.01 -51.64 -234.3 46.87
FCF margin 3.57% 2.6% -0.69% -3.01% -15.07% 2.62%
FCF Conversion (EBITDA) 23.05% 15.62% - - - 28.37%
FCF Conversion (Net income) 26.8% 16.8% - - - 35.71%
Dividend per Share 2 0.3846 0.2308 0.4000 0.8000 0.3000 0.3000
Announcement Date 3/29/19 4/9/20 4/19/21 3/30/22 4/28/23 4/15/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 220 854 850 747 340 392
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 36.8 35.7 -11 -51.6 -234 46.9
ROE (net income / shareholders' equity) 29.5% 24.1% 20.2% 15.4% 8.03% 8.35%
ROA (Net income/ Total Assets) 12.2% 10.7% 9.51% 6.86% 2.37% 3.6%
Assets 1 1,125 1,990 2,871 3,431 5,333 3,645
Book Value Per Share 2 3.350 6.120 7.170 7.890 7.650 8.040
Cash Flow per Share 2 1.490 2.480 2.470 2.680 2.140 2.010
Capex 1 19.5 44.8 72.8 140 238 61.4
Capex / Sales 1.89% 3.27% 4.58% 8.17% 15.3% 3.43%
Announcement Date 3/29/19 4/9/20 4/19/21 3/30/22 4/28/23 4/15/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

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