GUANGZHOU BAIYUN INTERNATIONAL AIRPORT COMPANY LIMITED Financials Guangzhou Baiyun International Airport Company Limited
Equities
600004
CNE000001DX0
Airport Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 10.53 CNY | -0.47% |
|
+2.53% | +7.67% |
| 04-26 | Guangzhou Baiyun International Airport Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| 03-13 | China Minsheng Banking Names President, Vice Presidents | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 36,110 | 33,442 | 28,543 | 35,524 | 23,147 | 24,922 | - | - |
| Enterprise Value (EV) 1 | 35,479 | 31,137 | 27,263 | 33,546 | 20,928 | 20,984 | 19,227 | 39,158 |
| P/E ratio | 36.4 x | -118 x | -70.9 x | -33.4 x | 51.5 x | 22.7 x | 16.6 x | 23.9 x |
| Yield | 0.83% | 0.3% | - | - | 0.76% | 1.36% | 1.81% | 0.28% |
| Capitalization / Revenue | 4.59 x | 6.4 x | 5.51 x | 8.95 x | 3.6 x | 3.26 x | 2.8 x | 2.86 x |
| EV / Revenue | 4.51 x | 5.96 x | 5.26 x | 8.45 x | 3.25 x | 2.75 x | 2.16 x | 4.49 x |
| EV / EBITDA | 12.2 x | 21.1 x | 24.5 x | 87 x | 9.94 x | 6.55 x | 5.46 x | 10.9 x |
| EV / FCF | 18.2 x | -22.3 x | -67.9 x | 5,410 x | 11.8 x | 9.16 x | 8.33 x | - |
| FCF Yield | 5.5% | -4.48% | -1.47% | 0.02% | 8.44% | 10.9% | 12% | - |
| Price to Book | 2.22 x | 1.74 x | 1.56 x | 2.07 x | 1.32 x | 1.35 x | 1.25 x | 1.24 x |
| Nbr of stocks (in thousands) | 2,069,321 | 2,366,718 | 2,366,718 | 2,366,718 | 2,366,718 | 2,366,718 | - | - |
| Reference price 2 | 17.45 | 14.13 | 12.06 | 15.01 | 9.780 | 10.53 | 10.53 | 10.53 |
| Announcement Date | 27/04/20 | 29/04/21 | 08/04/22 | 06/04/23 | 26/04/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,870 | 5,225 | 5,180 | 3,971 | 6,431 | 7,640 | 8,900 | 8,719 |
| EBITDA 1 | 2,913 | 1,473 | 1,115 | 385.5 | 2,104 | 3,202 | 3,521 | 3,605 |
| EBIT 1 | 1,316 | -174.8 | -541.5 | -1,449 | 671.3 | 1,528 | 1,995 | 1,212 |
| Operating Margin | 16.72% | -3.35% | -10.45% | -36.49% | 10.44% | 19.99% | 22.42% | 13.91% |
| Earnings before Tax (EBT) 1 | 1,327 | -148.4 | -530 | -1,446 | 677.8 | 1,561 | 2,076 | 1,504 |
| Net income 1 | 999.9 | -250.3 | -405.8 | -1,071 | 441.9 | 1,094 | 1,499 | 1,036 |
| Net margin | 12.7% | -4.79% | -7.83% | -26.98% | 6.87% | 14.32% | 16.84% | 11.88% |
| EPS 2 | 0.4800 | -0.1200 | -0.1700 | -0.4500 | 0.1900 | 0.4642 | 0.6349 | 0.4400 |
| Free Cash Flow 1 | 1,950 | -1,396 | -401.6 | 6.201 | 1,767 | 2,292 | 2,309 | - |
| FCF margin | 24.78% | -26.72% | -7.75% | 0.16% | 27.47% | 30% | 25.94% | - |
| FCF Conversion (EBITDA) | 66.93% | - | - | 1.61% | 83.95% | 71.59% | 65.57% | - |
| FCF Conversion (Net income) | 195.03% | - | - | - | 399.79% | 209.53% | 154.02% | - |
| Dividend per Share 2 | 0.1450 | 0.0423 | - | - | 0.0747 | 0.1435 | 0.1902 | 0.0300 |
| Announcement Date | 27/04/20 | 29/04/21 | 08/04/22 | 06/04/23 | 26/04/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 1,551 | - | 793.4 | 1,275 | 663.3 | 1,359 | 1,531 | 1,717 | 1,823 | 1,663 | 1,840 | 2,224 | 2,141 | - | - |
| EBITDA | - | 413.7 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 23.71 | - | -578.7 | -113.2 | -657.2 | 59.25 | 165.2 | 164.1 | 282.7 | 268.4 | -165.3 | 854.9 | 331.5 | - | - |
| Operating Margin | - | 1.53% | - | -72.93% | -8.88% | -99.08% | 4.36% | 10.79% | 9.56% | 15.51% | 16.14% | -8.99% | 38.43% | 15.48% | - | - |
| Earnings before Tax (EBT) | - | 28.16 | - | -578 | -112.6 | - | - | 166.2 | 167.4 | 283.9 | - | - | - | - | - | - |
| Net income | -410 | 84.3 | - | -434.5 | -110 | - | 44.73 | 113.3 | 116 | 167.8 | - | - | - | - | - | - |
| Net margin | - | 5.44% | - | -54.77% | -8.62% | - | 3.29% | 7.4% | 6.76% | 9.2% | - | - | - | - | - | - |
| EPS 2 | - | 0.0400 | -0.0300 | -0.1900 | -0.0500 | -0.1800 | 0.0200 | 0.0500 | 0.0500 | 0.0700 | 0.0800 | 0.1100 | 0.1100 | 0.1100 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | 0.1263 | - | - | - | 0.1715 |
| Announcement Date | 30/08/21 | 08/04/22 | 29/04/22 | 30/08/22 | 28/10/22 | 06/04/23 | 18/04/23 | 30/08/23 | 30/10/23 | 26/04/24 | 26/04/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | 14,237 |
| Net Cash position 1 | 631 | 2,305 | 1,280 | 1,978 | 2,218 | 3,938 | 5,695 | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | 3.949 x |
| Free Cash Flow 1 | 1,950 | -1,396 | -402 | 6.2 | 1,767 | 2,292 | 2,309 | - |
| ROE (net income / shareholders' equity) | 6.24% | -1.46% | -2.18% | -6.03% | 2.54% | 6.3% | 8.06% | 5.5% |
| ROA (Net income/ Total Assets) | 3.84% | -0.95% | -1.51% | -3.93% | - | 4.08% | 4.9% | - |
| Assets 1 | 26,038 | 26,232 | 26,913 | 27,243 | - | 26,830 | 30,616 | - |
| Book Value Per Share 2 | 7.870 | 8.140 | 7.740 | 7.260 | 7.430 | 7.820 | 8.390 | 8.460 |
| Cash Flow per Share 2 | 1.460 | -0.0100 | 0.3600 | 0.3700 | 1.000 | 0.8900 | 1.240 | 1.240 |
| Capex 1 | 1,063 | 1,351 | 1,246 | 862 | 593 | 1,740 | 1,832 | 4,136 |
| Capex / Sales | 13.5% | 25.87% | 24.06% | 21.72% | 9.22% | 22.77% | 20.59% | 47.44% |
| Announcement Date | 27/04/20 | 29/04/21 | 08/04/22 | 06/04/23 | 26/04/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
10.53
CNY
Average target price
13.36
CNY
Spread / Average Target
+26.83%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +7.67% | 3.46B | |
| +7.53% | 24.69B | |
| +3.88% | 5.37B | |
| -1.77% | 4.48B | |
| +5.47% | 4.26B | |
| -9.81% | 3.31B | |
| 0.00% | 2.67B | |
| +13.27% | 2.25B | |
| +9.33% | 2.01B | |
| +10.92% | 1.46B |
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- Financials Guangzhou Baiyun International Airport Company Limited
