Financials First Tractor Company Limited

Equities

38

CNE100000320

Heavy Machinery & Vehicles

Market Closed - Hong Kong S.E. 09:09:00 03/05/2024 BST 5-day change 1st Jan Change
8.33 HKD +1.34% Intraday chart for First Tractor Company Limited +2.08% +67.94%

Valuation

Fiscal Period: December 2022 2023 2024 2025
Capitalization 1 9,533 12,442 16,225 -
Enterprise Value (EV) 1 9,533 12,442 16,225 16,225
P/E ratio - - - -
Yield - - - -
Capitalization / Revenue 0.77 x 1.08 x 1.24 x 1.09 x
EV / Revenue 0.77 x 1.08 x 1.24 x 1.09 x
EV / EBITDA 10.4 x 9.63 x 11.6 x 9.56 x
EV / FCF - - - -
FCF Yield - - - -
Price to Book - - - -
Nbr of stocks (in thousands) 1,123,645 1,123,645 1,123,645 -
Reference price 2 3.690 4.960 8.330 8.330
Announcement Date 21/03/23 27/03/24 - -
1HKD in Million2
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2021 2022 2023 2024 2025
Net sales 1 - 12,455 11,534 13,136 14,855
EBITDA 1 - 920.5 1,292 1,398 1,698
EBIT 1 - 588 996.3 1,162 1,488
Operating Margin - 4.72% 8.64% 8.85% 10.02%
Earnings before Tax (EBT) 1 - 611.9 1,003 1,191 1,515
Net income 1 438.2 681.1 997 1,212 1,575
Net margin - 5.47% 8.64% 9.23% 10.6%
EPS - - - - -
Free Cash Flow - - - - -
FCF margin - - - - -
FCF Conversion (EBITDA) - - - - -
FCF Conversion (Net income) - - - - -
Dividend per Share - - - - -
Announcement Date 29/03/22 21/03/23 27/03/24 - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2021 2022 2023 2024 2025
Net Debt - - - - -
Net Cash position - - - - -
Leverage (Debt/EBITDA) - - - - -
Free Cash Flow - - - - -
ROE (net income / shareholders' equity) - 12% 15.8% 16.1% 18.1%
ROA (Net income/ Total Assets) - 5.38% 7.44% 8.2% 9.3%
Assets 1 - 12,663 13,404 14,780 16,935
Book Value Per Share - - - - -
Cash Flow per Share - - - - -
Capex 1 - 87.1 84.5 150 150
Capex / Sales - 0.7% 0.73% 1.14% 1.01%
Announcement Date 29/03/22 21/03/23 27/03/24 - -
1CNY in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
7.717 CNY
Average target price
5.499 CNY
Spread / Average Target
-28.74%
Consensus

Chiffre d''affaires - Rate of surprise

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