Financials Chongqing Changan Automobile Company Limited Shenzhen S.E.

Equities

200625

CNE000000N14

Auto & Truck Manufacturers

End-of-day quote Shenzhen S.E. 23:00:00 25/04/2024 BST 5-day change 1st Jan Change
4.27 HKD +0.95% Intraday chart for Chongqing Changan Automobile Company Limited -0.70% -2.51%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 42,913 103,661 101,236 107,273 145,806 143,617 - -
Enterprise Value (EV) 1 33,132 73,293 50,413 55,693 82,117 77,202 61,963 46,270
P/E ratio -18.2 x 32.2 x 33 x 15.8 x 14.9 x 20.6 x 15.9 x 14.5 x
Yield - 1.4% 1.53% 1.92% 2.04% 1.42% 1.37% 1.53%
Capitalization / Revenue 0.61 x 1.23 x 0.96 x 0.88 x 0.96 x 0.76 x 0.63 x 0.57 x
EV / Revenue 0.47 x 0.87 x 0.48 x 0.46 x 0.54 x 0.41 x 0.27 x 0.18 x
EV / EBITDA 17.1 x 10.5 x 6.52 x 4.83 x 5.22 x 6.23 x 4.25 x 2.59 x
EV / FCF -40 x 8.81 x 2.4 x 11.4 x 4.74 x 2.56 x 3.1 x 1.88 x
FCF Yield -2.5% 11.3% 41.7% 8.75% 21.1% 39.1% 32.2% 53.3%
Price to Book 1.09 x 2.2 x 2.08 x 1.94 x 2.32 x 2.12 x 1.93 x 1.79 x
Nbr of stocks (in thousands) 8,740,820 9,761,381 9,921,799 9,921,799 9,917,289 9,917,289 - -
Reference price 2 5.511 12.02 11.68 12.31 16.83 16.57 16.57 16.57
Announcement Date 14/04/20 09/04/21 27/04/22 17/04/23 17/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 70,595 84,566 105,142 121,253 151,298 189,025 229,512 251,955
EBITDA 1 1,941 7,000 7,731 11,520 15,743 12,386 14,570 17,884
EBIT 1 -2,107 2,624 3,731 7,634 10,447 8,531 11,437 13,937
Operating Margin -2.98% 3.1% 3.55% 6.3% 6.91% 4.51% 4.98% 5.53%
Earnings before Tax (EBT) 1 -2,242 2,597 3,821 7,708 10,589 7,400 10,713 13,218
Net income 1 -2,647 3,324 3,552 7,798 11,327 7,986 10,402 11,309
Net margin -3.75% 3.93% 3.38% 6.43% 7.49% 4.23% 4.53% 4.49%
EPS 2 -0.3022 0.3736 0.3538 0.7799 1.130 0.8056 1.040 1.140
Free Cash Flow 1 -829.1 8,316 21,047 4,871 17,333 30,216 19,972 24,651
FCF margin -1.17% 9.83% 20.02% 4.02% 11.46% 15.99% 8.7% 9.78%
FCF Conversion (EBITDA) - 118.79% 272.25% 42.28% 110.1% 243.94% 137.08% 137.84%
FCF Conversion (Net income) - 250.15% 592.46% 62.46% 153.02% 378.34% 192.01% 217.98%
Dividend per Share 2 - 0.1681 0.1792 0.2360 0.3430 0.2359 0.2274 0.2532
Announcement Date 14/04/20 09/04/21 27/04/22 17/04/23 17/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 32,782 22,415 25,942 - 21,998 28,778 35,901 34,556 30,936 - 42,714 43,091 42,935 37,195 40,874 68,339 -
EBITDA - - - - 1,653 2,056 - - - - - - - - - - -
EBIT - - 573.5 - 1,167 932.9 1,015 - - - 1,921 - - - - - -
Operating Margin - - 2.21% - 5.3% 3.24% 2.83% - - - 4.5% - - - - - -
Earnings before Tax (EBT) 1 - 1,325 631.2 - 1,207 934.9 1,038 - - - 1,924 1,522 -2,121 134.2 1,889 4,770 -
Net income 1 2,602 1,263 560.2 - 1,321 1,042 898.5 6,970 682.8 7,653 2,229 1,445 252.4 -954.5 2,256 3,157 -
Net margin 7.94% 5.63% 2.16% - 6.01% 3.62% 2.5% 20.17% 2.21% - 5.22% 3.35% 0.59% -2.57% 5.52% 4.62% -
EPS 2 - 0.1231 0.0538 0.4538 0.1362 0.1000 0.0900 0.7000 0.0600 - 0.2300 0.1400 0.0254 -0.0962 0.2274 0.3182 -
Dividend per Share 2 - - 0.1792 - - - 0.2360 - - - - - - - - 0.1425 -
Announcement Date 30/08/20 29/10/21 27/04/22 28/04/22 30/08/22 30/10/22 17/04/23 27/04/23 30/08/23 30/08/23 30/10/23 17/04/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 9,781 30,368 50,823 51,580 63,689 66,414 81,654 97,346
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -829 8,316 21,047 4,871 17,333 30,216 19,972 24,651
ROE (net income / shareholders' equity) -5.86% 7.13% 6.53% 13.1% 16.6% 10.7% 12.1% 12.1%
ROA (Net income/ Total Assets) -2.77% 3.04% 2.8% 5.54% - 4.2% 4.93% 4.37%
Assets 1 95,549 109,278 126,828 140,726 - 190,274 211,163 258,691
Book Value Per Share 2 5.040 5.470 5.620 6.340 7.250 7.810 8.590 9.270
Cash Flow per Share 2 0.4400 1.090 2.320 0.5700 2.000 1.950 2.210 1.980
Capex 1 4,711 2,360 1,925 1,405 2,528 7,044 5,223 5,492
Capex / Sales 6.67% 2.79% 1.83% 1.16% 1.67% 3.73% 2.28% 2.18%
Announcement Date 14/04/20 09/04/21 27/04/22 17/04/23 17/04/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
20
Last Close Price
16.57 CNY
Average target price
19.31 CNY
Spread / Average Target
+16.53%
Consensus
  1. Stock Market
  2. Equities
  3. 000625 Stock
  4. 200625 Stock
  5. Financials Chongqing Changan Automobile Company Limited