Financials Baoxiniao Holding Co., Ltd.

Equities

002154

CNE1000006D1

Apparel & Accessories

End-of-day quote Shenzhen S.E. 23:00:00 25/04/2024 BST 5-day change 1st Jan Change
5.55 CNY -1.42% Intraday chart for Baoxiniao Holding Co., Ltd. -4.48% -2.29%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,921 4,055 6,125 6,012 8,289 8,099 - -
Enterprise Value (EV) 1 3,921 4,055 6,125 6,012 8,289 8,099 8,099 8,099
P/E ratio 18.9 x 11.1 x 13.2 x 13.3 x 11.8 x 9.91 x 8.58 x 7.6 x
Yield - 1.8% 5.37% 4.85% 4.4% 4.99% 5.65% 6.76%
Capitalization / Revenue 1.2 x 1.07 x 1.38 x 1.39 x 1.58 x 1.36 x 1.19 x 1.08 x
EV / Revenue 1.2 x 1.07 x 1.38 x 1.39 x 1.58 x 1.36 x 1.19 x 1.08 x
EV / EBITDA 8.53 x - 7.88 x 7.98 x 7.99 x 6.94 x 6.36 x 5.02 x
EV / FCF - - - 18.5 x 9.89 x 10.7 x 12.9 x 9.67 x
FCF Yield - - - 5.42% 10.1% 9.32% 7.73% 10.3%
Price to Book 1.39 x 1.26 x 1.47 x 1.53 x 1.91 x 1.72 x 1.58 x 1.43 x
Nbr of stocks (in thousands) 1,217,612 1,217,612 1,217,612 1,459,334 1,459,334 1,459,334 - -
Reference price 2 3.220 3.330 5.030 4.120 5.680 5.550 5.550 5.550
Announcement Date 25/04/20 13/04/21 15/04/22 14/04/23 11/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,273 3,788 4,451 4,313 5,254 5,968 6,808 7,470
EBITDA 1 459.9 - 777.2 753.1 1,038 1,167 1,273 1,612
EBIT 1 275.7 515.7 625.1 603.5 889.9 1,046 1,210 1,363
Operating Margin 8.42% 13.62% 14.04% 13.99% 16.94% 17.53% 17.78% 18.25%
Earnings before Tax (EBT) 1 282.1 512.8 615.8 606.8 898.5 1,051 1,217 1,368
Net income 1 210.1 366.5 464.4 458.8 697.9 817.1 946.3 1,069
Net margin 6.42% 9.68% 10.43% 10.64% 13.28% 13.69% 13.9% 14.31%
EPS 2 0.1700 0.3000 0.3800 0.3100 0.4800 0.5600 0.6467 0.7300
Free Cash Flow 1 - - - 325.9 838 755 626 838
FCF margin - - - 7.56% 15.95% 12.65% 9.2% 11.22%
FCF Conversion (EBITDA) - - - 43.27% 80.77% 64.7% 49.18% 51.97%
FCF Conversion (Net income) - - - 71.03% 120.09% 92.4% 66.15% 78.4%
Dividend per Share 2 - 0.0600 0.2700 0.2000 0.2500 0.2767 0.3133 0.3750
Announcement Date 25/04/20 13/04/21 15/04/22 14/04/23 11/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q1 2023 S1
Net sales - 2,471
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 1 255.6 407.6
Net margin - 16.5%
EPS - -
Dividend per Share - -
Announcement Date 24/04/23 18/08/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - 326 838 755 626 838
ROE (net income / shareholders' equity) 8.07% 12% 13.4% 11.2% 17% 17.4% 18.9% 18.8%
ROA (Net income/ Total Assets) 4.88% 7.9% 8.46% 7.58% - 11% 11.7% 11.6%
Assets 1 4,307 4,638 5,488 6,054 - 7,404 8,077 9,207
Book Value Per Share 2 2.320 2.650 3.420 2.700 2.970 3.230 3.500 3.890
Cash Flow per Share 2 0.3300 0.5900 0.5100 0.3500 0.7900 0.5300 0.7700 0.6200
Capex 1 114 43.1 103 189 316 187 160 151
Capex / Sales 3.49% 1.14% 2.32% 4.39% 6.01% 3.13% 2.35% 2.01%
Announcement Date 25/04/20 13/04/21 15/04/22 14/04/23 11/04/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
5.55 CNY
Average target price
8.24 CNY
Spread / Average Target
+48.47%
Consensus

Annual profits - Rate of surprise

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