Stock 002466 TIANQI LITHIUM CORPORATION
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Financials Tianqi Lithium Corporation

Equities

002466

CNE100000T32

Commodity Chemicals

End-of-day quote Shenzhen S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
38.87 CNY -0.82% Intraday chart for Tianqi Lithium Corporation -17.37% -30.33%
Apr. 24 Materials Slip as Dollar Strength Weighs -- Materials Roundup DJ
Apr. 24 Tianqi Lithium Forecasts Loss in Q1 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 44,579 58,006 158,050 124,636 88,736 61,812 - -
Enterprise Value (EV) 1 74,060 87,035 176,504 120,612 89,783 48,639 44,263 47,068
P/E ratio -5.76 x -31.7 x 75.9 x 5.09 x 12.5 x 14.1 x 10.3 x 10.3 x
Yield - - - 3.8% 2.42% 2.02% 2.15% 2.21%
Capitalization / Revenue 9.21 x 17.9 x 20.6 x 3.08 x 2.19 x 3.81 x 3.22 x 3.16 x
EV / Revenue 15.3 x 26.9 x 23 x 2.98 x 2.22 x 3 x 2.31 x 2.41 x
EV / EBITDA -17.6 x -128 x 40.1 x - 2.42 x 3.78 x 2.8 x 3.29 x
EV / FCF -53.7 x -327 x 163 x 6.49 x 4.92 x 6.75 x 8.05 x 7.6 x
FCF Yield -1.86% -0.31% 0.62% 15.4% 20.3% 14.8% 12.4% 13.2%
Price to Book 4.95 x 11.1 x 12.4 x 2.67 x 1.78 x 1.13 x 1.01 x 0.99 x
Nbr of stocks (in thousands) 1,477,099 1,477,099 1,477,099 1,639,441 1,639,441 1,639,441 - -
Reference price 2 30.18 39.27 107.0 78.99 55.79 38.87 38.87 38.87
Announcement Date 4/28/20 4/14/21 4/29/22 3/30/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,841 3,239 7,663 40,449 40,503 16,232 19,188 19,568
EBITDA 1 -4,206 -678.7 4,402 - 37,046 12,856 15,832 14,286
EBIT 1 -4,538 -1,022 3,989 39,911 36,296 10,948 14,331 12,632
Operating Margin -93.75% -31.56% 52.05% 98.67% 89.61% 67.44% 74.69% 64.55%
Earnings before Tax (EBT) 1 -4,480 -1,054 3,964 39,901 36,281 13,919 17,129 15,513
Net income 1 -5,983 -1,834 2,079 24,125 7,297 3,671 6,363 5,648
Net margin -123.61% -56.61% 27.13% 59.64% 18.02% 22.61% 33.16% 28.86%
EPS 2 -5.240 -1.240 1.410 15.52 4.450 2.756 3.779 3.771
Free Cash Flow 1 -1,380 -266.4 1,086 18,582 18,259 7,207 5,496 6,193
FCF margin -28.52% -8.22% 14.17% 45.94% 45.08% 44.4% 28.64% 31.65%
FCF Conversion (EBITDA) - - 24.66% - 49.29% 56.06% 34.72% 43.35%
FCF Conversion (Net income) - - 52.23% 77.02% 250.22% 196.36% 86.38% 109.65%
Dividend per Share 2 - - - 3.000 1.350 0.7840 0.8350 0.8608
Announcement Date 4/28/20 4/14/21 4/29/22 3/30/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2021 Q3 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales - - - - - 15,803 26,153 11,449 13,339 - 8,576 - 15,680 - - 5,485 - - 6,454 6,065 7,413
EBITDA - - - - - - - - - - - - - - - - - - - - -
EBIT - - - - - 14,740 25,224 - - - - - 12,886 - - 3,570 - - 3,371 3,115 3,774
Operating Margin - - - - - 93.27% 96.45% - - - - - 82.18% - - 65.09% - - 52.23% 51.36% 50.91%
Earnings before Tax (EBT) - - - - - 14,715 25,216 - - - - - - - - - - - - - -
Net income 85.8 444 7,000 10,328 - 8,143 13,797 - 1,572 6,447 - -801.2 - - - - - - - - -
Net margin - - - - - 51.53% 52.75% - 11.78% - - - - - - - - - - - -
EPS 1 0.0600 - 4.740 - 3.490 5.040 8.530 2.970 0.9600 - 1.000 -0.4800 - 0.4000 0.4000 - 0.4000 0.3900 - - -
Dividend per Share 1 - - - - - - - - - - - - - - - - - 0.6689 - - -
Announcement Date 8/29/21 10/29/21 8/30/22 8/30/22 10/27/22 3/30/23 3/30/23 4/28/23 8/30/23 8/30/23 10/26/23 3/27/24 3/27/24 - - - - - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 29,481 29,030 18,454 - 1,046 - - -
Net Cash position 1 - - - 4,024 - 13,173 17,549 14,744
Leverage (Debt/EBITDA) -7.01 x -42.78 x 4.192 x - 0.0282 x - - -
Free Cash Flow 1 -1,380 -266 1,086 18,582 18,259 7,207 5,496 6,193
ROE (net income / shareholders' equity) -84.4% -30.1% 23.2% 80.7% 14.6% 8.64% 10.1% 9.12%
ROA (Net income/ Total Assets) -5.98% -4.14% 4.82% 42% - 7.22% 6.57% 6.75%
Assets 1 100,063 44,315 43,100 57,506 - 50,812 96,813 83,641
Book Value Per Share 2 6.100 3.520 8.640 29.50 31.40 34.50 38.40 39.40
Cash Flow per Share 2 2.060 0.4700 1.420 12.40 13.80 6.530 6.800 5.280
Capex 1 3,735 878 1,009 1,716 4,429 2,980 2,958 2,808
Capex / Sales 77.17% 27.11% 13.16% 4.24% 10.93% 18.36% 15.42% 14.35%
Announcement Date 4/28/20 4/14/21 4/29/22 3/30/23 3/27/24 - - -
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

Ratings for Tianqi Lithium Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
38.87 CNY
Average target price
50.5 CNY
Spread / Average Target
+29.91%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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