AVIC AIRBORNE SYSTEMS CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 12.05 CNY | +0.67% |
|
+3.17% | -8.57% |
| 06-17 | AVIC Airborne Systems Co., Ltd.(SHSE:600372) added to SSE 180 Index | CI |
| 06-17 | AVIC Airborne Systems Co., Ltd.(SHSE:600372) added to Shanghai Stock Exchange 180 Value Index | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 24,957 | 37,685 | 42,940 | 30,627 | 63,777 | 58,309 | - | - |
| Enterprise Value (EV) 1 | 28,351 | 37,591 | 43,396 | 33,418 | 63,777 | 58,309 | 58,309 | 58,309 |
| P/E ratio | 45.1 x | 56.1 x | 53.8 x | 35.1 x | 30.2 x | 27.8 x | 24.2 x | 21 x |
| Yield | 0.42% | 0.51% | 0.56% | - | 0.96% | 1.16% | 1.12% | 1.16% |
| Capitalization / Revenue | 2.99 x | 4.31 x | 4.36 x | 2.74 x | 2.2 x | 2.03 x | 1.83 x | 1.67 x |
| EV / Revenue | 2.99 x | 4.31 x | 4.36 x | 2.74 x | 2.2 x | 2.03 x | 1.83 x | 1.67 x |
| EV / EBITDA | 24.6 x | 34.2 x | 32.2 x | 19.7 x | 17.2 x | 14.8 x | 12.4 x | 11.2 x |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 3.2 x | 3.57 x | 3.82 x | 2.53 x | 1.77 x | 1.55 x | 1.48 x | 1.4 x |
| Nbr of stocks (in thousands) | 1,752,626 | 1,917,799 | 1,917,799 | 1,917,799 | 4,838,897 | 4,838,897 | - | - |
| Reference price 2 | 14.24 | 19.65 | 22.39 | 15.97 | 13.18 | 12.05 | 12.05 | 12.05 |
| Announcement Date | 30/03/20 | 30/03/21 | 30/03/22 | 15/03/23 | 15/03/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,352 | 8,747 | 9,839 | 11,186 | 29,007 | 28,681 | 31,852 | 35,016 |
| EBITDA 1 | 1,013 | 1,103 | 1,335 | 1,553 | 3,698 | 3,929 | 4,695 | 5,193 |
| EBIT 1 | 607.2 | 731.4 | 881.7 | 927 | 2,230 | 2,285 | 2,732 | 3,187 |
| Operating Margin | 7.27% | 8.36% | 8.96% | 8.29% | 7.69% | 7.97% | 8.58% | 9.1% |
| Earnings before Tax (EBT) 1 | 631.1 | 719.5 | 881.1 | 925.7 | 2,257 | 2,293 | 2,743 | 3,200 |
| Net income 1 | 556 | 630.8 | 798.7 | 871.9 | 1,886 | 2,114 | 2,403 | 2,785 |
| Net margin | 6.66% | 7.21% | 8.12% | 7.79% | 6.5% | 7.37% | 7.54% | 7.95% |
| EPS 2 | 0.3160 | 0.3501 | 0.4165 | 0.4546 | 0.4370 | 0.4333 | 0.4975 | 0.5750 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.0600 | 0.1000 | 0.1250 | - | 0.1260 | 0.1400 | 0.1350 | 0.1400 |
| Announcement Date | 30/03/20 | 30/03/21 | 30/03/22 | 15/03/23 | 15/03/24 | - | - | - |
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 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,902 | 2,346 | 2,841 | 2,713 | 3,286 | 2,467 | 11,514 | - | 8,276 | 5,643 | 7,765 | 6,799 | 8,336 | 6,974 | 8,572 |
| EBITDA | 252.8 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 229.4 | 231.2 | 336.1 | 175.1 | 184.6 | 240.3 | 1,074 | - | - | - | - | - | - | - | - |
| Operating Margin | 7.91% | 9.86% | 11.83% | 6.45% | 5.62% | 9.74% | 9.33% | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | 225.3 | 235.2 | 333.4 | 175.3 | 181.8 | 241 | 1,077 | - | - | - | - | - | - | - | - |
| Net income | 223.6 | 201.3 | 318.7 | 175.1 | 176.9 | 210.8 | 813.6 | 625.7 | - | - | - | - | - | - | - |
| Net margin | 7.7% | 8.58% | 11.22% | 6.45% | 5.38% | 8.55% | 7.07% | - | - | - | - | - | - | - | - |
| EPS | 0.1200 | 0.1044 | 0.1700 | 0.0900 | 0.0900 | 0.1099 | 0.1600 | 0.1283 | - | - | - | - | - | - | - |
| Dividend per Share | 0.1250 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 30/03/22 | 30/04/22 | 30/08/22 | 28/10/22 | 15/03/23 | 29/04/23 | 22/08/23 | 24/10/23 | 15/03/24 | 26/04/24 | - | - | - | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | 3,393 | - | 456 | 2,790 | - | - | - | - |
| Net Cash position | - | 93.3 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.35 x | - | 0.3419 x | 1.797 x | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 7.11% | 7.77% | 7.31% | 7.44% | 6.15% | 5.47% | 6.02% | 6.55% |
| ROA (Net income/ Total Assets) | 2.51% | 2.66% | - | - | 2.73% | 2.79% | 3.04% | 3.25% |
| Assets 1 | 22,170 | 23,705 | - | - | 69,122 | 75,857 | 79,045 | 85,695 |
| Book Value Per Share 2 | 4.460 | 5.510 | 5.860 | 6.320 | 7.460 | 7.750 | 8.140 | 8.600 |
| Cash Flow per Share 2 | 0.4200 | 0.4200 | 0.8100 | -0.4100 | -0.2100 | 0.5800 | 0.6800 | 0.8200 |
| Capex 1 | 768 | 874 | 818 | 507 | 1,417 | 1,107 | 3,356 | 3,470 |
| Capex / Sales | 9.19% | 9.99% | 8.31% | 4.53% | 4.89% | 3.86% | 10.54% | 9.91% |
| Announcement Date | 30/03/20 | 30/03/21 | 30/03/22 | 15/03/23 | 15/03/24 | - | - | - |
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
D+
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
12.05
CNY
Average target price
14
CNY
Spread / Average Target
+16.18%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -8.57% | 7.97B | |
| +23.84% | 71.49B | |
| +42.83% | 31.69B | |
| +23.32% | 27.11B | |
| +21.18% | 13.77B | |
| -2.97% | 13.41B | |
| +21.59% | 10.38B | |
| -.--% | 7.35B | |
| -13.91% | 4.34B | |
| +6.89% | 3.83B |
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- Financials AVIC Airborne Systems Co., Ltd.
