Company Valuation: DaShenLin Pharmaceutical Group Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 33,307 37,585 28,359 17,151 20,066 21,399 - -
Change - 12.85% -24.55% -39.52% 17% 6.64% - -
Enterprise Value (EV) 1 32,838 36,233 27,369 15,778 16,831 18,059 17,639 17,343
Change - 10.34% -24.46% -42.35% 6.67% 7.3% -2.33% -1.67%
P/E 42.1x 36.3x 24.2x 18.6x 16.3x 14.4x 12.5x 11x
PBR 6.3x 6.24x 4.16x 2.49x 2.72x 2.73x 2.5x 2.33x
PEG - 1.2x 1.8x -0.9x 0.5x 0.7x 0.8x 0.8x
Capitalization / Revenue 1.99x 1.77x 1.16x 0.65x 0.73x 0.72x 0.66x 0.6x
EV / Revenue 1.96x 1.71x 1.12x 0.6x 0.61x 0.61x 0.54x 0.48x
EV / EBITDA 13.6x 19.2x 12.9x 4.65x 4.39x 4.72x 4.2x 3.73x
EV / EBIT 31.6x 25.5x 16.8x 10.5x 8.26x 7.77x 6.67x 5.79x
EV / FCF 117x 13.1x 19.7x 9.51x 3.44x 10.5x 6.31x 5.34x
FCF Yield 0.86% 7.61% 5.09% 10.5% 29.1% 9.55% 15.8% 18.7%
Dividend per Share 2 0.3472 0.5 0.31 0.31 0.49 0.9418 1.043 1.222
Rate of return 1.19% 1.52% 1.24% 2.06% 2.78% 5.01% 5.55% 6.5%
EPS 2 0.6944 0.9083 1.03 0.81 1.08 1.304 1.5 1.701
Distribution rate 50% 55% 30.1% 38.3% 45.4% 72.2% 69.5% 71.8%
Net sales 1 16,759 21,248 24,531 26,497 27,502 29,540 32,521 35,823
EBITDA 1 2,408 1,883 2,119 3,395 3,833 3,828 4,204 4,651
EBIT 1 1,041 1,421 1,632 1,501 2,038 2,324 2,643 2,997
Net income 1 791.2 1,036 1,166 914.8 1,235 1,486 1,711 1,937
Net Debt 1 -469.2 -1,352 -989.8 -1,373 -3,236 -3,340 -3,760 -4,056
Reference price 2 29.24 33.00 24.90 15.06 17.62 18.79 18.79 18.79
Nbr of stocks (in thousands) 1,138,968 1,138,947 1,138,902 1,138,848 1,138,848 1,138,848 - -
Announcement Date 27/04/22 27/04/23 28/04/24 25/04/25 23/04/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.41x0.61x4.72x5.01% 3.19B
16.91x0.69x10.24x-.--% 15.07B
16.81x0.76x7.89x2.22% 6.55B
20.89x0.8x13.4x1.07% 6.47B
14.69x0.9x6.23x2.88% 4.14B
14.27x1.23x7.5x5.64% 3.17B
13.8x0.83x6.23x4.67% 2.94B
33.21x - - - 2.58B
Average 18.12x 0.83x 8.03x 3.07% 5.51B
Weighted average by Cap. 17.65x 0.78x 9.05x 1.95%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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