FULU HOLDINGS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.87 HKD | +2.75% |
|
+1.08% | -32.00% |
| 03-28 | Fulu Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| 2023 | Fulu Holdings Limited Announces Mr. Shui Yingyu Resigns as an Executive Director | CI |
Valuation
| Fiscal Period: December | 2020 | 2021 | 2022 |
|---|---|---|---|
| Capitalization 1 | 2,128 | 2,458 | 1,974 |
| Enterprise Value (EV) 1 | 1,809 | 2,250 | 1,852 |
| P/E ratio | 14.5 x | 35.9 x | 20.2 x |
| Yield | 5.08% | 2.35% | 2.11% |
| Capitalization / Revenue | 6.48 x | 6.16 x | 4.11 x |
| EV / Revenue | 5.51 x | 5.64 x | 3.86 x |
| EV / EBITDA | 13.7 x | 65.4 x | 39.3 x |
| EV / FCF | -7,414,891 x | -11,653,893 x | -47,250,990 x |
| FCF Yield | -0% | -0% | -0% |
| Price to Book | 1.92 x | 2.11 x | 1.62 x |
| Nbr of stocks (in thousands) | 400,000 | 403,316 | 406,467 |
| Reference price 2 | 5.319 | 6.095 | 4.857 |
| Announcement Date | 09/04/21 | 14/04/22 | 26/04/23 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Net sales 1 | 243.8 | 208.9 | 241.9 | 328.2 | 399.3 | 479.9 |
| EBITDA 1 | 97.16 | 72.86 | 87.43 | 132.1 | 34.41 | 47.14 |
| EBIT 1 | 96.52 | 71.6 | 85.78 | 130.8 | 32.93 | 45.11 |
| Operating Margin | 39.6% | 34.27% | 35.46% | 39.86% | 8.25% | 9.4% |
| Earnings before Tax (EBT) 1 | 93.88 | 68.32 | 85.34 | 122.3 | 75.2 | 86.28 |
| Net income 1 | 78.13 | 62.81 | 80.64 | 120.9 | 68.22 | 97.88 |
| Net margin | 32.05% | 30.06% | 33.33% | 36.84% | 17.09% | 20.4% |
| EPS | - | - | - | 0.3673 | 0.1700 | 0.2400 |
| Free Cash Flow | - | 4.404 | 26.66 | -243.9 | -193.1 | -39.2 |
| FCF margin | - | 2.11% | 11.02% | -74.32% | -48.36% | -8.17% |
| FCF Conversion (EBITDA) | - | 6.04% | 30.49% | - | - | - |
| FCF Conversion (Net income) | - | 7.01% | 33.06% | - | - | - |
| Dividend per Share | - | - | - | 0.2700 | 0.1434 | 0.1026 |
| Announcement Date | 07/09/20 | 07/09/20 | 07/09/20 | 09/04/21 | 14/04/22 | 26/04/23 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 109 | 87.9 | 58.6 | - | - | - |
| Net Cash position 1 | - | - | - | 319 | 208 | 122 |
| Leverage (Debt/EBITDA) | 1.125 x | 1.206 x | 0.6701 x | - | - | - |
| Free Cash Flow | - | 4.4 | 26.7 | -244 | -193 | -39.2 |
| ROE (net income / shareholders' equity) | - | 42.2% | 36.7% | 17.8% | 6.01% | 7.64% |
| ROA (Net income/ Total Assets) | - | 12.3% | 12% | 8.71% | 1.49% | 1.91% |
| Assets 1 | - | 512.3 | 674.6 | 1,389 | 4,593 | 5,126 |
| Book Value Per Share | - | - | 0.8500 | 2.770 | 2.890 | 2.990 |
| Cash Flow per Share | - | - | 0.0300 | 1.140 | 0.5200 | 0.3700 |
| Capex 1 | 3.13 | 1.46 | 1.23 | 0.05 | 2.74 | 2.92 |
| Capex / Sales | 1.29% | 0.7% | 0.51% | 0.02% | 0.68% | 0.61% |
| Announcement Date | 07/09/20 | 07/09/20 | 07/09/20 | 09/04/21 | 14/04/22 | 26/04/23 |
1CNY in Million
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -32.00% | 95.01M | |
| -2.53% | 184B | |
| -11.62% | 180B | |
| -8.43% | 91.88B | |
| +36.02% | 91.6B | |
| -10.53% | 71.28B | |
| +13.73% | 53.58B | |
| +19.26% | 26.35B | |
| +17.48% | 10.05B | |
| -11.43% | 8.53B |
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