TIBET GAOZHENG EXPLOSIVE CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 24.44 CNY | +9.99% |
|
+27.69% | +45.91% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,559 | 2,685 | 2,942 | 2,862 | 2,592 | 4,623 |
| Enterprise Value (EV) 1 | 2,201 | 2,601 | 3,021 | 3,016 | 2,874 | 4,979 |
| P/E ratio | 42.2 x | 112 x | 82 x | 54.6 x | 49.4 x | 47.9 x |
| Yield | 2.88% | 1.54% | 1.41% | 1.45% | 1.6% | 0.9% |
| Capitalization / Revenue | 7.15 x | 7.39 x | 3.89 x | 3.07 x | 2.28 x | 2.98 x |
| EV / Revenue | 6.15 x | 7.16 x | 4 x | 3.23 x | 2.53 x | 3.21 x |
| EV / EBITDA | 25.6 x | 48.8 x | 24.4 x | 19 x | 18.6 x | 21.8 x |
| EV / FCF | -109 x | -12.8 x | -21.1 x | -77.3 x | -23.8 x | -138 x |
| FCF Yield | -0.92% | -7.79% | -4.73% | -1.29% | -4.21% | -0.73% |
| Price to Book | 3.19 x | 3.51 x | 3.87 x | 3.74 x | 3.36 x | 5.64 x |
| Nbr of stocks (in thousands) | 276,000 | 276,000 | 276,000 | 276,000 | 276,000 | 276,000 |
| Reference price 2 | 9.273 | 9.730 | 10.66 | 10.37 | 9.390 | 16.75 |
| Announcement Date | 4/18/19 | 4/24/20 | 4/19/21 | 4/13/22 | 4/20/23 | 4/18/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 358.2 | 363.5 | 755.7 | 932.7 | 1,134 | 1,553 |
| EBITDA 1 | 86.07 | 53.34 | 123.6 | 158.5 | 154.6 | 228.1 |
| EBIT 1 | 64.55 | 28.65 | 77.47 | 102.6 | 92.82 | 163.5 |
| Operating Margin | 18.02% | 7.88% | 10.25% | 11% | 8.18% | 10.53% |
| Earnings before Tax (EBT) 1 | 71.15 | 30.77 | 70.28 | 91.6 | 69.61 | 136.4 |
| Net income 1 | 60.39 | 23.99 | 36.81 | 52.59 | 53.39 | 97.76 |
| Net margin | 16.86% | 6.6% | 4.87% | 5.64% | 4.71% | 6.3% |
| EPS 2 | 0.2200 | 0.0869 | 0.1300 | 0.1900 | 0.1900 | 0.3500 |
| Free Cash Flow 1 | -20.28 | -202.8 | -143 | -39.02 | -121 | -36.1 |
| FCF margin | -5.66% | -55.78% | -18.92% | -4.18% | -10.67% | -2.33% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - |
| Dividend per Share 2 | 0.2667 | 0.1500 | 0.1500 | 0.1500 | 0.1500 | 0.1500 |
| Announcement Date | 4/18/19 | 4/24/20 | 4/19/21 | 4/13/22 | 4/20/23 | 4/18/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 78.8 | 153 | 283 | 356 |
| Net Cash position 1 | 358 | 84.1 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | 0.6372 x | 0.9686 x | 1.827 x | 1.559 x |
| Free Cash Flow 1 | -20.3 | -203 | -143 | -39 | -121 | -36.1 |
| ROE (net income / shareholders' equity) | 7.52% | 3.08% | 6.91% | 8.14% | 6.9% | 11.9% |
| ROA (Net income/ Total Assets) | 4.29% | 1.62% | 3.59% | 4.16% | 3.11% | 4.31% |
| Assets 1 | 1,407 | 1,478 | 1,024 | 1,263 | 1,714 | 2,271 |
| Book Value Per Share 2 | 2.910 | 2.770 | 2.760 | 2.780 | 2.800 | 2.970 |
| Cash Flow per Share 2 | 1.620 | 0.8300 | 0.6500 | 0.6900 | 1.540 | 2.680 |
| Capex 1 | 75.3 | 142 | 213 | 57.7 | 45.4 | 56 |
| Capex / Sales | 21.02% | 39.15% | 28.21% | 6.18% | 4.01% | 3.61% |
| Announcement Date | 4/18/19 | 4/24/20 | 4/19/21 | 4/13/22 | 4/20/23 | 4/18/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +45.91% | 849M | |
| +41.89% | 2.43B | |
| +19.17% | 1.95B | |
| +21.92% | 1.9B | |
| +13.75% | 989M | |
| -5.80% | 686M | |
| -23.47% | 574M | |
| +15.50% | 516M | |
| -7.37% | 362M | |
| -16.03% | 327M |
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