Financials Beijing Sifang Automation Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 29/04/2024 BST			5-day change	1st Jan Change
15.88 ^CNY	+4.13%		-0.75%	+12.15%

04-29	Beijing Sifang Automation Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
03-19	Beijing Sifang Automation Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	16,995	11,872	11,785	13,216	-	-
Enterprise Value (EV) ¹	16,995	11,872	11,785	13,216	13,216	13,216
P/E ratio	37.3 x	21.8 x	18.9 x	17.9 x	14.3 x	13.1 x
Yield	2.39%	4.21%	4.24%	4.47%	4.96%	6.11%
Capitalization / Revenue	3.95 x	2.34 x	2.05 x	1.93 x	1.54 x	1.47 x
EV / Revenue	3.95 x	2.34 x	2.05 x	1.93 x	1.54 x	1.47 x
EV / EBITDA	-	-	14.1 x	16.1 x	12.4 x	11.2 x
EV / FCF	-	-	10.7 x	-8.22 x	13.8 x	10.6 x
FCF Yield	-	-	9.38%	-12.2%	7.26%	9.41%
Price to Book	4.39 x	2.94 x	2.79 x	2.96 x	2.71 x	2.49 x
Nbr of stocks (in thousands)	813,172	813,172	832,251	832,251	-	-
Reference price ²	20.90	14.60	14.16	15.88	15.88	15.88
Announcement Date	30/03/22	30/03/23	19/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	4,298	5,078	5,751	6,852	8,564	9,009
EBITDA ¹	-	-	832.9	820	1,064	1,178
EBIT ¹	509	636.7	733.6	856	1,068	1,179
Operating Margin	11.84%	12.54%	12.76%	12.49%	12.47%	13.09%
Earnings before Tax (EBT) ¹	533.6	654.1	735.2	867.8	1,083	1,193
Net income ¹	451.9	543.2	627.2	737.6	916	1,013
Net margin	10.51%	10.7%	10.91%	10.76%	10.7%	11.24%
EPS ²	0.5600	0.6700	0.7500	0.8850	1.111	1.217
Free Cash Flow ¹	-	-	1,105	-1,607	960	1,243
FCF margin	-	-	19.22%	-23.45%	11.21%	13.8%
FCF Conversion (EBITDA)	-	-	132.69%	-	90.23%	105.52%
FCF Conversion (Net income)	-	-	176.21%	-	104.8%	122.75%
Dividend per Share ²	0.5000	0.6150	0.6000	0.7100	0.7880	0.9700
Announcement Date	30/03/22	30/03/23	19/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-	-	1,105	-1,607	960	1,243
ROE (net income / shareholders' equity)	11.3%	13.8%	15.5%	16.5%	19%	19%
ROA (Net income/ Total Assets)	-	-	-	7.07%	7.51%	7.75%
Assets ¹	-	-	-	10,437	12,205	13,067
Book Value Per Share ²	4.760	4.970	5.080	5.370	5.850	6.380
Cash Flow per Share ²	0.7800	0.8700	1.480	1.540	1.350	1.640
Capex ¹	40.9	75.1	127	156	110	80
Capex / Sales	0.95%	1.48%	2.22%	2.28%	1.28%	0.89%
Announcement Date	30/03/22	30/03/23	19/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.88 CNY

Average target price

17.91 CNY

Spread / Average Target

+12.76%

	1st Jan change	Capi.
BEIJING SIFANG AUTOMATION CO.,LTD	+12.15%	1.83B
TBEA CO., LTD.	+2.54%	9.81B
HITACHI ENERGY INDIA LIMITED	+81.96%	4.86B
STATE GRID YINGDA CO.,LTD.	+0.21%	3.78B
HEXING ELECTRICAL CO.,LTD.	+57.35%	3.07B
HAINAN JINPAN SMART TECHNOLOGY CO., LTD.	+37.59%	2.96B
ASTOR ENERJI	-0.53%	2.89B
HENAN PINGGAO ELECTRIC CO.,LTD.	+16.71%	2.78B
HSINO TOWER GROUP CO., LTD.	-6.61%	1.93B
GUANGDONG MINGYANG ELECTRIC CO.,LTD.	+31.38%	1.61B