Financials Angel Yeast Co., Ltd

Equities

600298

CNE0000014G0

Food Processing

End-of-day quote Shanghai S.E. 23:00:00 27/06/2024 BST 5-day change 1st Jan Change
27.93 CNY +0.18% Intraday chart for Angel Yeast Co., Ltd -2.31% -20.61%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 25,275 42,086 50,271 39,295 30,563 23,956 - -
Enterprise Value (EV) 1 26,893 43,508 52,636 42,281 34,794 28,151 27,569 27,332
P/E ratio 28 x 30.7 x 38 x 28.9 x 23.9 x 18.1 x 15.7 x 13.8 x
Yield 1.3% 0.98% 0.83% 1.11% 1.42% 1.99% 2.53% 2.26%
Capitalization / Revenue 3.3 x 4.71 x 4.71 x 3.06 x 2.25 x 1.56 x 1.4 x 1.26 x
EV / Revenue 3.51 x 4.87 x 4.93 x 3.29 x 2.56 x 1.84 x 1.61 x 1.44 x
EV / EBITDA 17.1 x 20.4 x 25.7 x 19.3 x 15.5 x 11.9 x 10.4 x 9.31 x
EV / FCF 55.9 x 39.8 x -79.8 x -29.3 x -90.4 x 1,224 x 40.6 x 33.6 x
FCF Yield 1.79% 2.51% -1.25% -3.41% -1.11% 0.08% 2.46% 2.97%
Price to Book 5.02 x 7.15 x 7.26 x 4.24 x 3.03 x 2.18 x 1.97 x 1.77 x
Nbr of stocks (in thousands) 824,081 824,081 832,861 868,969 868,752 857,726 - -
Reference price 2 30.67 51.07 60.36 45.22 35.18 27.93 27.93 27.93
Announcement Date 30/03/20 25/03/21 28/03/22 30/03/23 18/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,653 8,933 10,675 12,843 13,581 15,340 17,146 18,953
EBITDA 1 1,569 2,135 2,050 2,187 2,249 2,364 2,655 2,935
EBIT 1 1,099 1,626 1,499 1,581 1,509 1,570 1,833 2,064
Operating Margin 14.36% 18.2% 14.04% 12.31% 11.11% 10.24% 10.69% 10.89%
Earnings before Tax (EBT) 1 1,109 1,627 1,517 1,595 1,526 1,614 1,877 2,119
Net income 1 901.5 1,372 1,309 1,321 1,270 1,342 1,550 1,759
Net margin 11.78% 15.35% 12.26% 10.29% 9.35% 8.75% 9.04% 9.28%
EPS 2 1.094 1.664 1.587 1.567 1.470 1.545 1.784 2.025
Free Cash Flow 1 480.8 1,092 -659.6 -1,443 -385 23 678.5 813
FCF margin 6.28% 12.23% -6.18% -11.24% -2.83% 0.15% 3.96% 4.29%
FCF Conversion (EBITDA) 30.65% 51.18% - - - 0.97% 25.56% 27.7%
FCF Conversion (Net income) 53.33% 79.65% - - - 1.71% 43.78% 46.21%
Dividend per Share 2 0.4000 0.5000 0.5000 0.5000 0.5000 0.5564 0.7071 0.6321
Announcement Date 30/03/20 25/03/21 28/03/22 30/03/23 18/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - - 3,059 2,892 3,861 3,397 3,317 2,939 3,928 3,483 3,644 3,424 4,655
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - - 506.6 420.1 383.3 313.4 392.1 387.2 317.8 280.8 415.6
Operating Margin - - - - 13.12% 12.37% 11.55% 10.66% 9.98% 11.12% 8.72% 8.2% 8.93%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS 2 0.3500 0.3789 0.4300 0.2600 0.5000 0.4094 0.3700 0.2800 0.4100 0.3700 0.3400 0.2800 0.4800
Dividend per Share - - - - - - - - - - - - -
Announcement Date 28/03/22 18/04/22 10/08/22 25/10/22 30/03/23 28/04/23 24/08/23 24/10/23 18/03/24 19/04/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,619 1,422 2,365 2,986 4,231 4,195 3,612 3,376
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.032 x 0.666 x 1.154 x 1.365 x 1.881 x 1.775 x 1.361 x 1.15 x
Free Cash Flow 1 481 1,092 -660 -1,443 -385 23 679 813
ROE (net income / shareholders' equity) 19.4% 25.2% 20.5% 16.5% 13% 12.3% 13% 13.2%
ROA (Net income/ Total Assets) 9.55% 13.2% 10.8% 8.7% 7.02% 6.58% 7.6% 8.25%
Assets 1 9,444 10,357 12,127 15,188 18,102 20,417 20,398 21,327
Book Value Per Share 2 6.100 7.150 8.320 10.70 11.60 12.80 14.20 15.80
Cash Flow per Share 2 1.570 2.270 1.600 1.230 1.520 2.650 2.190 3.040
Capex 1 815 777 1,978 2,512 1,706 1,686 1,328 1,311
Capex / Sales 10.65% 8.7% 18.53% 19.56% 12.56% 10.99% 7.74% 6.92%
Announcement Date 30/03/20 25/03/21 28/03/22 30/03/23 18/03/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
27.93 CNY
Average target price
33.55 CNY
Spread / Average Target
+20.11%
Consensus
  1. Stock Market
  2. Equities
  3. 600298 Stock
  4. Financials Angel Yeast Co., Ltd