Financials Harbin Electric Corporation Jiamusi Electric Machine CO.,Ltd

Equities

000922

CNE0000007V3

Heavy Electrical Equipment

End-of-day quote Shenzhen S.E. 23:00:00 20/05/2024 BST 5-day change 1st Jan Change
13.7 CNY +0.59% Intraday chart for Harbin Electric Corporation Jiamusi Electric Machine CO.,Ltd +2.24% +33.40%

Valuation

Fiscal Period: December 2022 2023 2024 2025 2026
Capitalization 1 5,351 6,119 8,163 - -
Enterprise Value (EV) 1 5,351 6,119 8,163 8,163 8,163
P/E ratio - 15.3 x 17.5 x 14.3 x 11.8 x
Yield - 1.97% 1.53% 1.68% 2.41%
Capitalization / Revenue 1.5 x 1.15 x 1.4 x 1.21 x 1.04 x
EV / Revenue 1.5 x 1.15 x 1.4 x 1.21 x 1.04 x
EV / EBITDA - 9.86 x 9.92 x 7.96 x 6.85 x
EV / FCF - 16.1 x 8.78 x 21.8 x 10.2 x
FCF Yield - 6.21% 11.4% 4.59% 9.81%
Price to Book - 1.92 x 2.32 x 2.08 x 1.86 x
Nbr of stocks (in thousands) 596,540 595,859 595,859 - -
Reference price 2 8.970 10.27 13.70 13.70 13.70
Announcement Date 11/04/23 17/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2022 2023 2024 2025 2026
Net sales 1 3,579 5,321 5,852 6,774 7,869
EBITDA 1 - 620.4 823 1,026 1,191
EBIT 1 - 462.2 559.3 694 853.7
Operating Margin - 8.69% 9.56% 10.25% 10.85%
Earnings before Tax (EBT) 1 - 514.9 587 721.7 881.3
Net income 1 351.1 399.4 466 569 690
Net margin 9.81% 7.51% 7.96% 8.4% 8.77%
EPS 2 - 0.6697 0.7833 0.9567 1.160
Free Cash Flow 1 - 379.8 930 375 801
FCF margin - 7.14% 15.89% 5.54% 10.18%
FCF Conversion (EBITDA) - 61.23% 113% 36.55% 67.25%
FCF Conversion (Net income) - 95.11% 199.57% 65.91% 116.09%
Dividend per Share 2 - 0.2020 0.2100 0.2300 0.3300
Announcement Date 11/04/23 17/04/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2022 2023 2024 2025 2026
Net Debt - - - - -
Net Cash position - - - - -
Leverage (Debt/EBITDA) - - - - -
Free Cash Flow 1 - 380 930 375 801
ROE (net income / shareholders' equity) - 12.4% 13.2% 14.4% 15.4%
ROA (Net income/ Total Assets) - - 4.6% 5.5% 5.9%
Assets 1 - - 10,130 10,345 11,695
Book Value Per Share 2 - 5.360 5.910 6.590 7.380
Cash Flow per Share 2 - - 1.790 0.7600 0.8000
Capex 1 - 175 584 92.5 98
Capex / Sales - 3.3% 9.98% 1.37% 1.25%
Announcement Date 11/04/23 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
3
Last Close Price
13.7 CNY
Average target price
16 CNY
Spread / Average Target
+16.79%
Consensus

Annual profits - Rate of surprise

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